Discuss about the Marketing & Management for Applied Sport Management.
Week 4: How a consumer’s level of involvement affect his or her choice of problem-solving process. Compare and contrast with high involvement and low involvement purchases
The level of involvement has a significant impact on the decision of a purchase. If the level of importance is put high on the item, and the items need, in that case it is fine to say that the item will be bought (Pierce & Irwin, 2016, p. 60). By distinction, high-involvement decisions take a higher risk to buyers if they fail, are different, and/or have high price tags.
An example when a company intentionally triggers recognition of a particular need through its promotional campaign.
A company may intentionally triggers recognition of a particular need through its promotional campaign in an instance such as, when offering after-sale services through text messages.
An example of a purchase for which you experienced post-purchase cognitive dissonance and how it was overcome
According to YU-LUN & CHING-JUI (2014), Cognitive dissonance occurs when behaviors contradict each other. In post-purchase situation, an individual’s idea about the product may contradict as well, for example, I bought a Sony Xperia mobile whose specifications are almost similar to that of Samsung mobile, considering the price, I found that Samsung is cheaper than Sony even with the same qualities. The price was slightly different, so I just felt contented, thus overcoming the situation of cognitive dissonance.
Major stages in the consumer buying decision process and how the Internet impact this decision-making process
Consumer problem-solving is categorized into three types. These include limited problem solving, routinized response behavior, and extended problem solving (Kim et al., 2017). Internet is frequently used, for example, when one wants to purchase a new mobile phone, he/she will just search about the specifications and acquire if it fits hi/her needs.
Changes that airlines are making to save money and fly greener
One of the things that every company would like to do is saving money on operational cost. In aviation industry, airlines have set goals and have stick with them for effective operation. Secondly, they have resorted to the use of biofuel to rescue high cost.
There are various types of targeting strategies; however, from the websites, only two are visible based on the content from each website. Mazda uses multi-segment targeting strategy while Shoes of Prey uses concentrated or focus segment targeting strategy. Mazda has more than one product that targets both genders while Shoes of Prey is one segment that only deals with female shoes.
Changes that Mc Donald’s has done in the past few years to reposition its brand and why it needs to reposition its brand
First and foremost, the reason for repositioning is to is reclaim and maintain their standard for being the healthier fast food chain and to appeal the larger customer segment and to improve customer satisfaction with the significant change coming from food quality, pleasant, quick service and order precision. These changes include adding healthier choices in their menu.
Box Hill is an area that is known for its cultural diversity and strong specialism in Asian food and retail. It is a lively area with shops, education, offices, hospitals, transport and services. Its growth is spread over retail, jobs and more specifically housing. For this reason, it the best place to invest especially in small scale retail shop business that deals with food. Having left with $500, 000, the amount is not enough to invest in real estate even though it is the most lucrative in the area. However, due to the population size, the area is fit for starting a food retail store to serve the larger population.
The best thing about Kate Spade’s website is the availability of live chat platform. This assists customers who seek to know more about the product get prompt response. The website has variety of products for the customer to choose, an indication that the customer can choose and buy from the comfort of bedroom or any place. All the information about the products are provided thus making customer to make a well-informed decision. Similarly, customers have the opportunity to post both negative and positive reviews about the products. This is helpful since the organization gets to know where necessary adjustments are required.
Negative reviews can be of positive gain or negative depending on how the company handle such situation. Reviews are one of the most effective innovations to emerge from Internet business, replacing oral as the major driver of a business’ reputation (Windsperger et al., 2018). Even though it is risky, sometimes it might be helpful to the business. In managing these reviews, the companies need to increase the conversation on the column and show the urge to correct the situation that has contributed to the negative review. Secondly, jumpstarting customer engagement by using the negative reviews as the opportunity to showcase the commitment to better service is also a good take to managing the reviews. Companies should also ask questions using email automation service to nudge customers from posting reviews after buying the product.
Social media is not only a tool for socializing but has also become a tool for doing business. Companies have become socially present on so many social media sites for various reasons such as;
The use of technology has increased, especially in the mobile phone industry. Companies are taking advantage on these issues and have started to create a business platform where consumers can purchase their preferred products through the mobile phones. On virtual grocery, this is this is the future of shopping and a good initiative that other sectors will imitate. It serves the interest of the customer since the business has tuned to technology that is widely used. Similarly, on the use of drone for deliveries, it is the best initiative that will not only save the cost of doing business but also saves time for the customer. It has so many benefits that brings luxury in business for all parties.
Do you think companies that aim to build a sustainable brand are more competitive in today’s marketplace?
Yes, they are competitive in the current market place. Currently, sustainability in business is one of the major issues that can fail or make the business succeed. Sustainable business practices leads to better cooperate culture and long term profitability and reliability with huge customer base.
Iconic, is rare for a top brand to elevated to that status, it is a gigantic statement. Some of the iconic brands we have are Red Cross, Apple, Subway, Addidas, Google, IKEA, Charity Water, Coca-Cola among others.
I do physical exercise every morning before embarking on any activity. I have been using Addidas sprinter sport shoes since 2007 and its quality is amazing, durable and comfortable. That has made fall in love with their products a well. On the other hand, I don’t do alcohol and I use soft drinks to quench my thirst on a daily basis. Ever since I was born, I have never known any drink to be better than Coca-Cola; it is what my family and use. I believe in their quality of production and I have become loyal as well.
The emergence of fake products in the market is on the rise. There are countries that are suspected and some have been confirmed to be distributing fake and low quality items in the market (Raska et al., 2014).Therefore, since quality is the key issue when buying any product, country of origin has to be very important. Yes, I have a strong personal favorite especially for the items that comes from the United States and the UK due to strictness of the guiding principles in production processes.
There is a big difference between product modification and line extension, line extension is the use of an established product for a new product in the same category with additional features. Product modification is the revision of the existing product on the basis of feedback from consumers or any errors in product (Tadajewski & Jones, 2014). S8 is a product modification of S7 since features are the same, the only things done on it is that its android version has been increased to 7.0 and memory from 250 GB to 400. All other features are the same.
Singapore Airlines. What elements of its service have become their points of differentiation compared to their competitors?
Singapore Airlines have embarked on repeatability in terms of cost and service. They have continuously offered low cost charges with remarkable services to the customers throughout their operations. The level of service is maintained.
The non-price competition is a marketing policy where one organization attempts to differentiate its product or service from competing products on the foundation of features like design and workmanship, this applied in new products for market penetration (Sang, 2014, p. 275). Price competition is a situation where two similar products are judged by the prospective of the consumers based on pricing to maximize sales volume.
Price skimming strategy is used to set a relatively high initial price for a new product then reduces over a time. This strategy is used in electronics devices such as mobile phones, music system and Television sets.
How consumers respond to additional airline surcharges
Customers will always go for an option with lowest total cost.
Some people purposefully plan to take their holiday during low holiday seasons. For these people, which type of price discounting strategy do they take advantage of? Have you personally tries this yourself? If so, where did you go?
People who travel during low season take advantage of seasonal discount strategy. Personally, I have never taken advantage since I rarely travel.
When a company launches its latest technology product, which pricing strategy do they usually engage in? Justify your answer
For the new technology product, non-pricing strategy is the most appropriate to engage in since it a strategy that is used to distinguish a product based on design and workmanship and not price for market penetration.
List of References
Kim, M. J., Lee, C., & Bonn, M. (2017). Obtaining a better understanding about travel-related purchase intentions among senior users of mobile social network sites. International Journal Of Information Management, 37(5), 484-496. doi:10.1016/j.ijinfomgt.2017.04.006
Pierce, D., & Irwin, R. (2016). Competency Assessment for Entry-level Sport Ticket Sales Professionals. Journal Of Applied Sport Management, 8(2), 54-75.
Raska, D., Keller, E. W., & Shaw, D. (2014). The Curriculum-Faculty-Reinforcement Alignment and Its Effect on Learning Retention of Core Marketing Concepts of Marketing Capstone Students. Marketing Education Review, 24(2), 145-158. doi:10.2753/MER1052-8008240205
Sang, S. (2014). Optimal models in price competition supply chain under a fuzzy decision environment. Journal Of Intelligent & Fuzzy Systems, 27(1), 257-271. doi:10.3233/IFS-130994
Tadajewski, M., & Jones, D. B. (2014). Historical research in marketing theory and practice: a review essay. Journal Of Marketing Management, 30(11-12), 1239-1291. doi:10.1080/0267257X.2014.929166
Windsperger, J., Hendrikse, G. J., Cliquet, G., & Ehrmann, T. (2018). Governance and strategy of entrepreneurial networks: an introduction. Small Business Economics, 50(4), 671-676. doi:10.1007/s11187-017-9888-0
Yu-Lun, L., & Ching-Jui, K. (2014). Cognitive Dissonance, Social Comparison, and Disseminating Untruthful or Negative Truthful Ewom Messages. Social Behavior & Personality: An International Journal, 42(6), 979-994.
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