MK0011- CONSUMER BEHAVIOUR

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ASSIGNMENT

DRIVE WINTER	SPRING 2015
PROGRAM/SEMESTER	MBADS – (SEM 3/SEM 5) / MBAN2 / MBAFLEX – (SEM 3) /
SUBJECT CODE & NAME	MK0011- CONSUMER BEHAVIOUR
BK ID	B 1722
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q1. Is it important to consider the behavior of consumers while deciding on the marketing mix of the company? Why? Explain with suitable examples.

Answer:In order to create an effective international marketing mix, the most important step is to have a thorough understanding of global markets. This can be accomplished through marketing research. The research studies must be designed with appropriate changes to handle how different cultures react to being surveyed. Companies must also research how cultures shop, eat, sleep and socialize. Once information has been gathered about the market, the most important concern is whether the product and promotion strategies need to be changed.

Once marketers have enough data about our shopping habits

Q2. What are the popular positioning approaches that companies use? Give examples.

Answer: Positioning refers to how you communicate the essential benefits of your small business to potential customers. Where you sell your product, how you make it, where you make it and your price all convey subtle messages to the marketplace, even without your using any overt advertising, public relations or promotions.

Q3. Explain brand image and the dimensions of brand personality.

Answer:For more than four decades, marketers have used sophisticated techniques to segment their consumer universes into psychographic sets, the progenitors of today’s online communities. These techniques have been able to reveal hidden truths underlying group actions as in the case of Helicopter Parents or Metrosexuals. As a result, they have allowed marketers to dig deeper than simple demographics to target messages much closer to the heart of action than general measures like age or sex. In fact, a case can be made that these older groupings have had far deeper roots than today’s like- and tweet- based communities.

Q4. Select a restaurant which you have visited recently. Analyze the atmosphere and physical environment of this service set up. What image according to you does the restaurant’s environment convey? What changes would you suggest to make the environment more appealing to customers?

Answer:Customer service is not always crucial to the success of an organization. Its importance is determined primarily by supply & demand. If there are few suppliers and many consumers, suppliers can dictate the terms of the relationship, and customers may have no choice but to accept them.  Most organizations, however, are not so lucky. Competition has exploded the cozy castles of all but a few protected markets, and will continue to undermine those as well.  Where competition flourishes, customer service is essential to an organization's long-term viability. It must be central to its strategy. A company can outperform

Q5. Discuss the application of multi-attribute model in changing consumer attitudes.

Answer:Consumer attitudes are both an obstacle and an advantage to a marketer. Choosing to discount or ignore consumers’ attitudes of a particular product or service—while developing a marketing strategy—guarantees limited success of a campaign. In contrast, perceptive marketers leverage their understanding of attitudes to predict the behavior of consumers. These savvy marketers know exactly how to distinguish the differences between beliefs, attitudes, and behaviors while leveraging all three in the development of marketing strategies.

Q6. Write short notes on: 10

(i) Optimal Stimulation Level (OSL)

Answer: The notion that human behavior is sometimes instigated by the mere desire to attain a satisfactory level of stimulation has figured prominently among psychological theories investigating motivational tendencies as causes of people's actions. People tend to prefer intermediate levels of stimulation, referred to as the optimal stimulation level (OSL) in the literature. There are reliable individual differences in the amount of

(ii) Dogmatism:

Answer: Dogmatism is a way of thinking that is stubborn and narrow-minded, often because of prejudice and bigotry. Dogma is a principle or set of principles laid down by an authority as incontrovertibly true. It serves as part of the primary basis of an ideology or belief system, and it cannot be changed or discarded without affecting the very system's paradigm, or the ideology itself. The term can refer to acceptable opinions of philosophers or philosophical schools, public decrees, religion, or issued decisions of

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