The Task
Once your workshop facilitator has validated your choice of product or service, you are required to record a narration of each of the steps of the Consumer Decision Making Process on video and provide the viewer with an in-depth critical analysis of how you have moved through each of the steps with the use of complementary visual aids.
In your video analysis, you need to explain and demonstrate the five steps, along with your identification of any possible issues that occurred during this process. The findings presented in the video must be based on primary research and can be reinforced by analysis of relevant secondary data. In addition to this, you must incorporate theories and concepts related to consumer behaviour discussed in the topics from weeks 1 to 4.
Consumer Decision Making
Process
Adopted from: Lamb WC, et all 2016, Consumer decision-making, MKTG3,
Asia-Pacific Edition, Cengage Learning, pp 46 - 56
Need Recognition
1. Identify and analyse the need and want that led you to the purchase of the chosen product or service.
• Occurs when a consumer is faced with an imbalance between actual and desired states.
– Stimulus: Any unit of input affecting one or more of the five senses
• Sight, smell, taste, touch or hearing.
• Want: Recognition of an unfilled need and a product that will satisfy it.
Adopted from: Lamb WC, et all 2016, Consumer decision-making, MKTG3,
Asia-Pacific Edition, Cengage Learning, pp 46 - 56
Relevant Theories/Concepts
Information Search
2. Identify and examine the internal and external sources of information that you used in making your decision to buy the chosen product or service.
Internal information search:
• Process of recalling information stored in their memory.
External information search:
• Process of seeking information in the outside environment.
Non-marketing controlled information source:
• Product information source that is not associated with advertising.
Marketing controlled information source:
• Product information source that originates with marketers promoting the product.
Adopted from: Lamb WC, et all 2016, Consumer decision-making, MKTG3, Asia-Pacific Edition, Cengage Learning, pp 46 - 56
Relevant Theories/Concepts
Information Search Cont.
Evoked set: Group of brands, resulting from an information search, from which a buyer can choose • Perceived risk:
?Knowledge;
?Confidence; ?Product experience; ?Interest in outcome.
Adopted from: Lamb WC, et all 2016, Consumer decision-making, MKTG3,
Asia-Pacific Edition, Cengage Learning, pp 46 - 56
Evaluation of Alternatives
3. Evaluate alternatives and narrow down the attributes of the chosen product or service that satisfy your need and want.
Potential Alternatives:
• Awareness Set
– Evoked Set (considered alternatives)
– Inert Set (back up alternatives)
– Inept Set (avoided alternatives) • Unawareness Set
Adopted from: Lamb WC, et all 2016, Consumer decision-making, MKTG3,
Asia-Pacific Edition, Cengage Learning, pp 46 - 56
Purchase
4. Identify and analyse available purchase methods to determine how these methods impacted on your decision-making process.
Different considerations in regards to how will you purchase product/service:
– Use of individual income
– Credit Cards
– Personal Secured/Unsecured Loans
– Home Loans
– Lease Agreement/Rent Agreement – Lay-by/ClicknCollect/Afterpay
Adopted from: Lamb WC, et all 2016, Consumer decision-making, MKTG3,
Asia-Pacific Edition, Cengage Learning, pp 46 - 56
Post Purchase Behavior
5. Analyse your post-purchase behaviour by identifying the features of the chosen product or service that reduce your cognitive dissonance. Please note that in this step, the topic of customer satisfaction should not be considered.
Cognitive dissonance:
– Inner tension that a consumer experiences after recognising an inconsistency between behavior and values or opinions. Marketing can minimise this through:
• Effective communication
• Follow-up
• Guarantees
• Warranties
Adopted from: Lamb WC, et all 2016, Consumer decision-making, MKTG3,
Asia-Pacific Edition, Cengage Learning, pp 46 - 56
The Task Cont.
You are required to use at least 5 sources of information and reference these in accordance with the Kaplan Harvard Referencing Style. These may include websites, government publications, industry reports, census data, journal articles, and newspaper articles. These references should be presented as in-text citations and a reference list at the end of your video.
This video is worth 20% of your grade for this assessment, and it will serve the basis for the second and third assessment in this subject.
But I don’t know how to record a video