Managerial Marketing Discussion Responses (3 responses, at least 150 words each) (Will most certainly tip.

Attitude

Manage attitude towards the brand by defining the attributes of the product in order to increase brand preference

References

Finch, J. (2012). Managerial Marketing. (Electronic Version). Retrieved from https://ashford.content.edu

Lisa Worrills

 "Problem recognition (consumer buying) is the first stage in the five-step purchase decision process model. It occurs when a consumer becomes aware of a need that must be met and recognizes that a particular product or service required" (Finch, 2012). If any consumer buys a vehicle there is a need for it. I personally buy vehicles for several reasons. One would be for business and personal. The four main psychological processes affecting consumer behavior when purchasing include "motivation, involvement, and behavioral and cognitive learning" (Finch, 2012).

For my business needs I look for a vehicle that will last through deliveries and long distant traveling. I take time first to do information research according to Finch (2012) to be external research which is acquisition of latest information from sources outside ourselves such as advertising, internet searches, and discussions with friends; for large SUV's that can hold up to my business needs. I look at several different SUV's called the evaluation of alternative and what each one offers such as the mileage of the vehicle, the year, extras of the vehicle, and condition of the interior and exterior. This helps me narrow down my research. This would take me onto the purchasing decision of which SUV to purchase. If I am not completely satisfied with the selected vehicles, I then place those to the side and look for more compatible vehicles. I do not do this often but I want what is best for my business and money. I am not a fan of brand new vehicles and do buy one with a certain number of miles on it because I pay in cash not finance. My needs for a vehicle must be within my budget and specifications. I test drive the few vehicles I have selected and get a feel of the vehicle. Post purchase decision would happen during my test driving of the vehicle and if I am not satisfied with the vehicle, I move onto the next phase. That would be looking for more if I am not satisfied with the ones chosen. I do not have a sense of regret. I have always purchased vehicles and never had any issues with my purchases to cause post purchasing decision. I am not easily persuaded to buy something that I do not need. I buy my vehicles at cash that I may have saved over time and see there is a need for a special purchase. The most I have spent on a vehicle cash price was $13,000.00. If I counter offer and the price is not accepted after researching the value, I back away. Understanding the process of car buying or sales you have to understand your needs of a new vehicle, take time and look around (shop around), drive the vehicle ( I kept notes about each vehicle), negotiate pricing (ask if you do not understand), and then close the deal.

Lisa Worrills

Reference

Finch, J. (2012). Managerial marketing [Electronic version]. Retrieved from https://ashford.content.edu

David Reid

There are 6 stages to making a purchase. As a consumer the following steps apply during major purchases; problem recognition - before a purchase can ever take place, we must have a reason to believe that what we want, where we want to be or how we perceive ourselves or a situation is different from where we actually are. The reality is different from the desire. Information search - once a problem is recognized, the search process begins. We know there is an issue and we are looking for a solution. If it's a new car, we look for a new car. If it's a new TV, then we look for a new TV with all the newest technology and gadgets. More than ever, consumers are doing more research before purchasing. Evaluation of alternatives - at this point we have explored multiple options and understand pricing and payment option and we are deciding whether to move forward with the purchase. Purchase decision - a need has been created, research has been completed and we have decided to make a purchase. All the stages that lead to a conversion have been finished. Post purchase behavior - The after purchase decision have to be made, if we are going to stay with the purchase or do we have buyer's remorse.

The 4 main psychological processes are

motivation and need - beyond the basic need for life's essentials such as food and shelter, there are a number of types of needs that motivate people to purchase goods and services. Marketers can help associate a product with need fulfillment. (Finch, 2012)

(2) perception, attention, distortion, retention - its important to get consumers to remember the messages

(3) learning and conditioning - marketers must try to teach consumers another message about the product, one that removes prior conditioning in favor of new information.

(4) beliefs and attitude - marketers must strive to position products so they appear associated with positive traits and to counteract beliefs that interfere with the products' ability to attract buyers.

Finch, J. (2012). Managerial Marketing, University of Wisconsin, La Crosse,:

Bree Frederick

Did you know that every time you make a purchase you go through a decision process? No matter if it is on what to drink with lunch or which car to purchase. The low involvement purchases like which soda to drink or which shirt to buy have only a three-step process, but purchased of much larger value, like a car or a house require much more of a process. This type of purchase is called a high involvement decision and has five step process. One example for me is the purchase of a tennis racket. The average racket cost about $200. This is an investment for even the recreational player. This purchase is huge to a tennis player, it should complement the strong points of your game and help strengthen the weaker parts. For whatever reason, I am in the market for new racket, could be my other one is old and technology has changed, or the other one broke. This is stage one of the process, Problem recognition. Next, I must gather information about new rackets, the best way is to speak to a coach and get recommendations. That process is called external information search. Next, I would evaluate my alternatives. I would rent demos of the rackets I like and test drive them so to speak. The fourth step is purchase decision. I have played and practiced with several rackets and now I have made a decision on the best one for me. The final stage of the purchase decision is post purchase evaluation. Am I happy or not with my decision? Hopefully I have done my research and gone through the steps carefully or I might have buyer's remorse; not feeling satisfied with my purchase.  

Not only do I have a purchase process, I will also have a psychological process too. There are four main steps in the psychological process: 1) Motivation 2) involvement 3) learning 4) attitude.

Consumer motivation refers to the internal state or processes that drive people to purchase products or services that they believe will fulfill conscious and unconscious wants and needs (Finch,2012). I could buy a racket at any Walmart or target, why did I choose to purchase from a tennis store?

Involvement is a measure of the perceived relevance or importance of a product to our wants and needs. Consumers' involvement with a product category or brand is typically described along a continuum ranging from high to low importance(Finch,2012). I really think that choosing the right tennis racket is important and is a major part of my tennis game, however my fiancé thinks that any racket from Walmart will do.

Learning is the term used to describe the process by which people acquire new knowledge and preferences, which in turn provides the basis for enduring changes in behavior (Finch,2012). The purchase of my tennis racket was a major investment for me. I will gather as much information about different rackets as I possibly can, my fiancé on the other hand did little research. This is a step that marketers should know if the purchase is a high involvement or low one, so they can market products accordingly

The final step is attitude. Of all the psychological factors that can influence purchase decisions, attitudes are the most powerful (Finch,2012). This will decide where I buy my racket, could even decide which brand name I buy. If I had two brands to choose from, both are the same except one has the name brand Prince and the other is Wilson. I will always choose the one that has Wilson on it, for the single fact that it is a name I trust and have been successful with in the past. My choice was based solely on my attitude toward each brand name.

Finch, J. (2012). Managerial marketing. San Diego, CA: Bridgepoint Education, Inc

Johnnie Donald

As a consumer with a high involvement purchase of a car, I decided I needed a new one based on the fact that the current car was having frequent breakdowns and costly repairs. In the information search stage, I looked at cars driving down the street and picked the ones I liked based on appearance. Next I evaluated the alternatives by comparing prices online. I made a purchase decision by going to dealerships and test driving a few of the possibilities. My purchase decision was made based on cost and benefits offered by the dealer. I had some buyer's remorse when I determined that I could have bought the same car at another dealer at a lower cost. 

The four major psychological processes, according to Finch (2012). are Motivation: marketers use this strategy to create products that allow consumers to believe that the product will satisfy their emotional needs; Involvement: Consumers are more involved with decision to buy products that marketers portray as necessary; Learning: Marketers try to determine if consumers view their products as high or low involvement. By this process people acquire knowledge regarding the product; and Attitude Formation: Comparison shopping is consistent with the multi-attribute model of attitude development.  According to Finch, attitude formation is driven by brand preference.

Finch, J. (2012)  Managerial Marketing. [Electronic version]. Retrieve from:  https://ashford.content.edu (Links to an external site.)Links to an external site.

Marja Naylor

The typical buying process for each person is going differ. For myself, I tend to stick with things that worked well when I was a kid and didn't often stray away until I married with a few kids. That is when I noticed how I purchased items changed. For example, when I had my first child I knew little on the best type of diaper to use. This lead me to begin to research what was the best for my family and my baby.

Problem recognition: The need for diapers for my daughter

Information search: I began to speak with other parents to get their opinions on certain brands and why. Also, I used the internet to gain more insight on the different products. I even found myself standing in the grocery store starring at the diapers trying to read all labels.

evaluation of alternatives: Also researched using cloth diapers and determined that would not fit our life style.

purchase decision: After all the research, I decided to purchase Luvs brand of diapers for my baby. They seemed to be a quality and well-loved product by many I knew and from what I researched.

post purchase behavior: I really liked the product and used this product to get me through five kids total. They changed their design on the diaper over the years but the quality remained the same.

We typically go through each stage no matter what we are buying. As for motivation, we will have something that pushes us to purchase the items, such as the diapers I stated above. I had a baby on the way so that was our motivation to purchase diapers. Then, involvement was determined to be an important purchase so it was put into action. Lastly, you have the beliefs and attitude towards the purchase you are making. "Cultural background heavily influences many personal, social, and economic activities. It can impact our shopping habits, our attitudes toward brands, and personal values and priorities." (Finch, 2012) After doing research and knowing the culture I live in, I made my selection with ease.

References

Finch, J. (2012). Managerial Marketing. (Electronic Version). Retrieved from https://ashford.content.edu

Bree Frederick 

Marja,

Five Kids!!!! I would imagine the purchase of diapers over the years could equal a car. I am a creature of habit with products also. Did the other parents impact your decision? I would imaging diaper to be a very personal choice and sometime its hard to get others opinions. Sometimes, I would imagine the best way is trial and error.

Arquette Burton

Value is a term that can carry very different connotations depending on the circumstances. In marketing, it is important to recognize that it is not synonymous with product quality. The better-built product may be of very high quality, but it provides little value to consumers if they derive no satisfaction from its ownership or use. Value is, first and foremost, always specific to the buyer—not the seller and not the product (Finch, 2012). 

My husband and I just recently purchased our first home. It took so long because honestly I loved our apartment. It was in a nice neighborhood, our neighbors were quiet (can' say the same for my kids), and most of all, I didn't have to worry about "up keep". Don't get me wrong, I am not one to shy away from housework, but when it comes to a house, that is a huge commitment and a lot of work. However, so far so good. Because it took me a while to commit to buying a home, it also took a while to find one that I was happy with. 

 Problem Recognition: The decision to buy a home arose because my kids are getting older and have been asking for a dog (each), and they need more space for their large amount of toys. Also, whenever my family comes to visit they have to either pay for a hotel or sleep on air mattresses. Information Search: Since we were new to Houston Texas, we did not really know a lot about the neighborhoods or school districts. So, we started to ask our co-workers, and they were no help. Each on claimed that their neighborhood was the best. However, we did check out their neighborhoods are they were right, their neighborhoods were nice, but just not for us. So we decided to do some research on line and found that Spring,TX had one of the best school districts in Texas and was also very up and coming. This meant that there would be an increase in property value, shopping convenience, but also an increase in people which could mean an increase in the crime rate.

Evaluation of Alternatives: With all of these things in ming, we decided to keep looking. This time with a Realtor. The Realtor asked us about moving to the country. We are from Mississippi originally, so we were open to the idea and made it an option and started our search outside of the Houston City Limits.  Purchase Decision: Once we started our search for a home out in the country, we knew that we had made the right decision. Now, we he had to think about commute to work and school as well as commute to the kids' extra-curricular activities, and the distance to the nearest shopping center (that is important). After coming to an agreement, we made the decision to stay close to the city limits, but move to a smaller more established town, and we ended up finding the perfect home. Post Purchase Behavior: I have always been rough and tumble, so the art of decorating missed me. So right now, we are trying to figure out a theme for our home, a way to decorate the kids' room, and away to capitalize on all of the new yard space and indoor space we have.

Reference:

Finch, J. (2012). Managerial marketing [Electronic version]. Retrieved from https://ashford.content.edu

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