Real Conservatism is referring to a response pattern that are mostly offered by individuals that are having cautiousness regarding new things as well as viewpoints, a central concern in the category is the upholding of a disciplined, predictable as well as safe society. Conventional family life are associated with responses that are mostly offered with the help of the respondents that are representing the integral part of ‘middle Australia’ having values that are focusing on the major events within the personal and family lives of the customers. The first aspect concerning the overall insight regarding consumer shopping profile is associated with consumer goals, which includes shopping considerations as well as consumers considerations and is associated with savings, enjoyment, health as well as indulgence.
The psychographic details of the consumer prior to the analysis of shopping are mentioned as under,
Age: 34 years
Gender: Male
Marital Status: Married
Family: Wife and One Child
Education Level: Master’s
Income: A$ 80,000 per annum
Occupation: Service
Generational Cohort Value Segment:
The personality traits of the consumer is based on the aspect of loving people as well as society, being altruistic, having supports as well as cares. The consumer is having the feeling of tidiness as well as willingness for providing assistance. The consumer is having no problem for adapting to the majority as well as avoiding controversy. Moreover, the consumer is respecting authority, seeking contact with other individuals, having control over the environment, strong orientation to reality as well as presence and looking for activities that are considered being meaningful (Wagner, 2016).
The first aspect concerning the overall insight regarding consumer shopping profile is associated with consumer goals, which includes shopping considerations as well as consumers considerations and is associated with savings, enjoyment, health as well as indulgence. The second aspect is associated with the shopping profile of the customers regarding the ways by which the mind is working. In this context, it can be stated that there are two systems by which the mind is working viz. System 1 and System 2. System 1 is considered being fast, intuitive as well as effective and System 2 is considered being slow, analytical as well as cognitive. Moreover, the distinguishing modes of thoughts in respect of System 1 are associated with the aspect of intuition that is considered being automatic, fast, effortless, hard-wired as well as emotional and the distinguish modes of thoughts in respect of System 2 are associated with the aspect of reflection that is considered being controlled, slow, difficult, programmable as well as cognitive. System 2 stops functioning when a customer is multi-tasking. Resource depletion does the hindering of performance regarding System 2 methods as well as increasing the dependence on lower-level and more simplistic processing methods.
Marketing theories take into consideration the Ansoff Matrix, Balanced Scorecard, The Marketing Mix, SWOT Analysis, Stakeholder Mapping, Porter’s 5 Forces, PESTEL Analysis and so on. In this context, buyer behaviour is considered being the methodical approach customers are following when they enter the purchase method and make decisions related to buying. There are certain steps that need to get followed in this regard such as,
The products that are being bought are considered being low-involvement purchases since, the customers in respect of purchasing these products are not required to think a lot prior to the purchasing of the product. There is also the involvement of less risk and therefore, the decision-making occurs very fast. Certain traits regarding low-involvement purchases are reduced price, low risk factor, switching of brands, availability as well as distribution and not much differentiation, repeat purchase as well as impulse purchase (Kotler, 2014).
Since, various customers are making the purchase of low-involvement products due to habitual loyalty, two specific product related aspects are considered to be very significant, which are the steadiness of the product as well as easy recognition with consistent packaging. In respect of low-involvement products, customers are generally not shopping around for new brands as well as product solutions (Iaccobucci, 2014). They are generally satisfied with one to three brands within the category of a product and will be making regular purchase of one of those brands regularly. As a result, steadiness regarding product design as well as packaging is considered being significant and the product changes might be leading to the dissatisfaction of the customers as well as packaging changes might be leading towards reduced levels of recognition (Gilmour, 2013). Due to the strong brand role regarding the purchase decision, low-involvement product provides the marketer essential scopes to increase sales as well as market share via simple product line extensions.
Pricing of low-involvement products is basically very low. In this context, it can be stated that many low-involvement products are items of lower cost that is having significance for the customers since they are making typical purchasing of these products frequently. Moreover, in respect of the lower price range, the steadiness regarding pricing is significant as customers are having an affinity regarding the offering of the product-price stability in respect of low-involvement products (Hutt, 2013). In general, products that are supported by stronger brands are having the ability for charging a premium price, due to the attraction of the customers for brands that are better known, being perceived to be lower risk decision of being purchased. Moreover, the occasional sales promotion is in general essential for defending against competitive actions, for rewarding the loyal customers as well as winning short-term brand switchers and encouraging the non-consumers in the category of product (House, 2013).
This is considered being a very significant element regarding the marketing mix. Intensive distribution requirements to be actualized, with the placing of the product in as many appropriate retailers as possible. Moreover, concerning the extent of retailer penetration, it is also very significant in having a better in-store position as well as supporting the product with visible point-of-purchase displays. Therefore, string retailer associations are significant in respect of achieving an increased stage of product visibility in-store (Hollensen, 2015). Since, low involvement products are often sold via hundreds or thousands of retail outlets, an effective logistics method is essential in avoiding product stock-outs. Logistics are even more significant in respect of highly perishable products like milk, bread, fruits as well as vegetables (Foxall, 2014). A highly effective logistics method will be working as well in keeping the cost of distribution low that is supportive of the low price that is generally a need regarding a low-involvement product.
The two major components regarding promotional mix for low-involvement products are image advertising as well as sales promotions. Low-involvement products will be benefitting from a strong brand built via long-term image advertising. Since, various purchases are made concerning a low-involvement basis, customers are often attached to a famous brand, since it is representing a low-risk consumer decision. Sales promotions are considered being another significant component regarding the promotional mix of the brand (Eastman, 2015). Sales promotions are even more significant in respect of weaker market place brands. Sales promotions also take into consideration trade promotions in this scenario. Trade promotions are considered being the incentives that are targeting the wholesalers as well as retailers for them towards purchasing a huge quantity of product in comparison to the normal quantity (Dickinson, 2014).
A high involvement product is considered being a product in which there is the involvement of an extensive thought method and the customer take into consideration numerous variables prior to the undertaking of a decision regarding purchase. A lot of times, high involvement purchases is having the involvement of multiple buyers or multiple influencers that are influencing an individual buyer (Bojanic, 2016).
An example of having the involvement of multiple individuals in purchasing a high involvement product is when a new car is being purchased. When someone is interested in buying a car, there will certainly occur the involvement of near and dear ones, and reviews will be taken from the friends and through the internet. A lot of information will get collected and then after receiving the right amount of confidence, the brand will get purchased that is being targeted. A high-involvement purchase will not be involving just the buyer and in addition, it will be having the involvement of the public perception regarding the product as well as the brand (Bejou, 2013).
Conclusion
In this assignment, the products that are being bought are considered being low-involvement purchases since, the customers in respect of purchasing these products are not required to think a lot prior to the purchasing of the product. There is also the involvement of less risk and therefore, the decision-making occurs very fast. Certain traits regarding low-involvement purchases are reduced price, low risk factor, switching of brands, availability as well as distribution and not much differentiation, repeat purchase as well as impulse purchase. Moreover, a high involvement product is considered being a product in which there is the involvement of an extensive thought method and the customer take into consideration numerous variables prior to the undertaking of a decision regarding purchase. Many times, high involvement purchases are having the involvement of multiple buyers or multiple influencers that are influencing an individual buyer. A lot of information will get collected and then after receiving the right amount of confidence, the brand will get purchased that is being targeted. A high-involvement purchase will not be involving just the buyer and in addition, it will be having the involvement of the public perception regarding the product as well as the brand.
Reference
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