Marketing Management Assignment -
Task - Consider a product you purchased recently. Write a report detailing your experience.
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1. A brief description of the product.
Answer - Brief description of the product
My product of choice is a phone that I purchased recently. My phone has a super HD display that enables me to view videos and other contents easily without struggling. The second specification is about the size of the screen, for instance, it has a display of about 5.8-inch diagonal size of the screen. The size of the screen is one of the features that influenced my decision. Another thing about my smartphone is the security of the phone. It has three ways to verify the owner of the phone in case there is an intruder. For instance, it uses the password, fingerprint, and the face recognition to verify that it is the true owner that is accessing the phone. Besides that, the three-step verification system available ensures that if one fails I have the backup of the other methods. Apart from the above description, another issue is the camera quality of this smartphone. The smartphone has a 7MP camera with which can capture clear images and that is one of the things that motivate when I have this type of smartphone. My brand choice is the iPhone type of phone. In the next chapter of this assignment, it will dwell on the factors that influenced my decision including the decision making process.
2. Comment on why you purchased this product and who influenced your purchase and how they influenced you.
Answer - Reason for purchasing the product and influence
One of the main factors that influenced my purchase is about a social factor. Social factor refers to an aspect that influences how a specific group of people behave and live. For instance, one can find that people from low class have a specific dressing code and they buy where the price is low. However, the working class people purchase expensive clothes from the boutique and the latest brand in the market. As a working-class individual, I was influenced by the phone that many working class people have in society. It should always possess good specifications such as clear camera, high-quality display, proper security measures, and a reasonable size. My choice that has the specifications that fit my class is the iPhone. It is a type of phone that few people can afford and especially the working class people only. It has a unique way of switching on and off. In situations where I meet my working-class colleagues and almost everyone in the group has such type of phone. I feel embarrassed and challenged that I do not belong to the group and feel the urge to upgrade my way of life. These are the reasons why I was convinced that I should purchase the iPhone to feel that am part of the working class people.
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3. Apply Maslow's hierarchy of needs theory to identify the need the product satisfies, please justify your answer. (Does the product satisfy safety need or social need or ... and why??)
Answer - Maslow's hierarchy of needs theory
Maslow's hierarchy of needs recommends that individuals are motivated to realize their basic needs before meeting a higher level of growth needs. The hierarchy has five levels of motivation to satisfy basic needs. However, the levels at the lower part are the one that implies the most basic needs while the once on the top of the hierarchy represents the most complex needs of the individual. The levels at the top are the growth needs while the lower levels can be considered as the deficiency needs for human beings. From that illustration, it means that the needs at the lower level require high priority action before meeting the needs at the top of the hierarchy. The needs according to the Maslow's hierarchy include self-actualization, esteem, social, safety and physiological. The order is from top to bottom.
In my case above, the type of need that the iPhone is trying to satisfy is the esteem needs. These are the needs that one fulfills after meeting the basic needs. After I had met the needs for belonging I love I started focusing on self-esteem and self-worth. These needs belong to the top level of the hierarchy which means that the phone aims at achieving pride among other individuals in my case
4. Define the "brand personality" of your recent purchase.
Answer - Brand personality
Brand personality refers to the characteristics of human beings which are directed to a certain brand name. The brand personality assists an individual to choose which type of product he or she may purchase. For instance, when a certain brand has consistency on the character traits, the consumer builds confident in that product name. The idea of brand personality not only apply to the consumers but also the companies selling the specific type of product. For instance, the company can use brand personality influence how consumers perceive and feel concerning what they sell. From the research, there are five main types of brand personalities which include competence, excitement, sincerity, sophistication, and ruggedness.
The type of brand personality that influenced my choice, in this case, is sophistication. The reason why it is that way is that my product is a bit of luxury and the focus is different from that of basic needs.
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5. Describe your decision-making process - please use the five-stage model to describe the process you went through. Describe what you did in each of the stages specified in the five-stage model.
Answer - Decision-making process
The process of making a decision to buy any product constitutes the following stages; problem recognition, information search, evaluation of decision, purchase and post-purchase behavior. In this part of the task, it will explain the stages basing on the phone as the main product.
i. Problem recognition
The problem is the need that requires satisfaction by the specific product. In this case, the phone was to satisfy my social need. I am a working class and all of my colleagues possess the iPhone smartphone and that is the need that I am to satisfy with the phone too.
ii. Information search
In this stage, I dwelled on the public search method. The first step I asked people concerning the brand. However, I also made use of personal sources which included the social engine to get the best quality of the phone.
iii. Evaluation of the alternatives
The alternatives I had from my search included phones such as techno and Nokia phones. However, these alternatives could not make me fit on the social class.
iv. Purchase
In this stage, I accepted the risk associated with buying the iPhone type of smartphone. Including the short warranty and the conditions in which the company was giving out the warranty.
v. Post-purchase behavior.
I was satisfied that I got what I was expecting because I could take clean photos to take out my phone when am with my colleagues without fear of intimidation. Such activities are once making me feel good about the brand.
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