MK0011 –Consumer Behaviour

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	Master of Business Administration- MBA
SEMESTER	3
SUBJECT CODE & NAME	MK0011 –Consumer Behaviour
BK ID	B1722
CREDITS &MARKS	4 Credits, 60 marks

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.

Question.1. What is positioning & how does it benefit a brand?

Positioning & how does it benefit a brand

Answer:Product positioning—which is the sixth and final step in the market segmentation process—involves developing a product and marketing plan that will appeal to the selected market segment. In order to position a product effectively, a small business must identify the attributes that are most important to consumers in the segment, and then develop an overall marketing strategy that will attract consumers' attention. Positioning can be usefully applied during the earliest stages of product design, when a company first identifies who its target customer will be in terms of demographic, geographic, and behavioral characteristics.

Question.2. Discuss the importance of injecting emotions into advertisements. Give suitableexamples.

Answer:Advertisers talk a lot about the importance of generating an emotional response from people. However, they rarely stop to specify exactly what characterizes such a response or why they believe it is important.

Granted, this definition is not a simple task, and the lack of clarity surrounding terms such as “emotional,” “rational,” “subconscious,” etc., is a further complication. However, a review of current learning on the way emotion guides our

Question.3. What is brand equity & how does it benefit the company?

Answer:Positive brand equity enables a firm to make a higher margin on sales and reduce advertising and marketing costs. Brand equity is defined as the value of having a well-known brand name. It can be positive or negative. Apple, for example, maintains a high level of positive brand equity; its products are renowned for quality and its customers are fiercely loyal. On the other end of the spectrum, BP accumulated negative brand equity following its 2010 oil spill. Its name became synonymous with environmental destruction, and many

Question.4. Discuss three component model of Attitudes. What is the relevance of this model toadvertising objectives?

Answer:Attitudes can be defined as evaluations of ideas, events, objects, or people. Attitudes are generally positive or negative, but they can also be uncertain at times. For example, sometimes we have mixed feelings about a particular issue or person. Regardless, attitudes are an important topic of study for social psychologists because they

Question.5. Discuss the nature of family decision making.

Answer: The Family Life Cycle. Individuals and families tend to go through a "life cycle:" The simple life cycle goes from

For purposes of this discussion, a "couple" may either be married or merely involve living together. The breakup of a non-marital relationship involving

Question.6. Write short notes on:

a) Approaches to ascertain consumer’s needs

Answer:A need is a consumer's desire for a product's or service's specific benefit, whether that be functional or emotional. The emotional benefit tends to be a stronger driver for consumers, as functional benefits can be easily copied by competitors. On the other hand, a consumer want is the desire for products or services that are not necessary, but which consumers wish for. For example, food is considered a consumer need. However,

b) Store image

Answer:"Store image is the image or impression of a store in the minds of customers. Good overall impression of this nature in terms of products available in the store, the store itself and the experience they expect when shopping at the store. So it can be said that the store image is actually a reflection of the overall customer to store environment.

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