Dear students, get fully solved assignments by professionals
Do send your query at :
or call us at :08263069601
NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Consumer Behaviour
Internal Assignment Applicable for September 2020 Examination
1. Enumerate the steps in a consumer’s decision-making journey for the following situations.
A) You have decided to run the marathon next year and have started diligently training for it. You think investing in a high-end fitness band will keep you motivated and help you monitor your progress. Being a complete newbie to fitness, you don’t have much of an idea about brands, features, pricing, important criteria, etc.
B) You currently use Saffolo cooking oil since you saw your mother using it too. After years of using Saffolo, your needs have changed. With the recent trend of healthy, cold-pressed, organic cooking oils you decide to switch to another brand. (10 Marks)
Ans:
INTRODUCTION:
Consumers around the world vary greatly in age, income, education level, and tastes and understanding how these differences affect consumer buying decision is never easy. However, marketing success largely depends on the ability to anticipate what buyers will do and what they prefer from available products. Today, the highly fragmented Indian edible oil industry with large number of players both from the organized and unorganized sectors has resulted in severe competition and as a result, edible oil businesses in India have shifted their focus to understand consumer choices better on one side and increasingly moving away from products to embracing a structured brand management to achieve competitiveness and profitability in the market place.The importance of edible oil in daily diet is well recognized as a better source of energy
2. What is Innovation Adoption? Who are the different adopter categories as per the Innovation Adoption Curve? What are the 5 product features that affect adoption of an innovative products, explain with examples.
Ans:
INTRODUCTION:
An innovation is an idea, practice, or object that is perceived as new. The characteristics of an innovation, as perceived by members of a social system, determine its rate of adoption. Some innovations diffuse relatively slowly, while other innovations diffuse rapidly. The characteristics that determine an innovation’s rate of adoption are its relative advantage, compatibility, complexity, trial ability, and observability. The relative advantage of an innovation reflects the degree to which it is perceived as better than the idea it supersedes. The degree of relative advantage may be measured in economic terms, but social prestige, convenience, and satisfaction are also important factors. It does not matter so much if an innovation has a great deal of objective advantage. What does matter is whether individuals perceive the
3. In context of Consumer Learning, explain the following behavioural theories:
a. Classical Conditioning (5 Marks)
b. Instrumental Conditioning
Ans:
a.
INTRODUCTION:
Learning is defined as a relatively permanent change in the behaviour that occurs as a result of experience of self or others. There occurs an enhancement of knowledge, skills and expertise which are relatively permanent. Consumer learning is defined as a process by which people gather and interpret information about products and services and use this information/knowledge in buying patterns and consumption behaviour. As Schiffman has put it “consumer learning can be thought of as the process by which individuals acquire the purchase and consumption knowledge and experience that they apply to future related behaviour”. Consumer learning may be intentional, where learning is an outcome of a careful search for information; learning can also be incidental, where learning occurs as a matter of chance, by accident or
Dear students, get fully solved assignments by professionals
Do send your query at :
or call us at :08263069601