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DiscussionQsMarketingweek2.docxHearl Tackett
WednesdayAug 12 at 8:07pm
In a high involvement purchase, like a car, a consumer will put much more thought into the final decision because it is an expensive endeavor. Because of this, whether consciously or unconsciously, there is a process that you go through to make the decision to buy that car.
First, there is the problem recognition where you realize that you need a new car because your old one is wrecked, broke down or just has too many miles on it and tired of repair costs. Whatever your motivation is for wanting to purchase that car. Marketers will advertise to find that motivation. Is your motivation to be part of a status group or subculture because it is what your friends have? Is it something that your discretionary income will cover in your budget? Or do you have to be frugal and go for the economical car? Once you decide what class of vehicle to purchase, then you start searching for those types of vehicles that fit in that category. Depending on how you were raised, you may have a brand preference based on experience. This is where the attitude comes in and when faced with equal cars, your attitude is when you like or dislike the vehicle (Finch, 2012). During this stage of the process you are evaluating the alternatives. Which car has the best features, colors, brand, etc. Are you willing to give on something to get something else. Marketers will offer different features that are standard or optional to keep your interest. You make your decision on the car that best fits all the criteria of your evaluation. Marketers will offer favorable finance terms based on models and credit rating. Do you want to lease or buy? You drive the vehicle off the lot and start rethinking or reevaluating your decision. What if this feature was added? It may have been worth the extra payment. Or, you believe you made the right decision and are happy with the vehicle!
Finch, J. (2012). Managerial marketing . Retrieved from https://ashford.content.edu
ThursdayAug 13 at 6:09pm
I purchased my first home on April 27th, 2020. Before we began to even think about buying a home we hd to weigh out our pros and cons to leave our apartments. It actually took us about a month of research to choose what type of home we wanted to purchase. The home buying process had many different steps which I was familiar with since I work at a bank but unfamiliar to my husband. Having a bit of knowledge about the process of purchasing a home helped but it was not easy.
Problem Recognition – A person requires shelter to live and hold down a place for themselves and their family and necessity to invest. We did not want to pay someone else's mortgage by renting and building my own equity in an asset. We knew that the longer we kept renting, the longer I was putting off investment in myself.
Information Search – For a month leading up to finally purchasing our home, we had to figure out how much we could afford and if we wanted to keep the same lifestyle (which we did). That was our most important duty, after we then knew where we wanted to live because we did research on the area and how fast it was growing. We also had a priority which was the location, my husband and I work in two different cities and we had to make sure we could commute within a 30 min radius.
Evaluation of alternative – Weighing out the benefits of our builders and comparing it to others within the area. The MLS system is a property database that shows all activity for-sale properties within a given area. It allows you to quickly sift through hundreds of features and inform prospective buyers of the characteristics of the homes. We also visited multiple builders and obtained their perks.
Purchase decision – Once we found our home we decided to put down some money to reserve our lot. Also, I had to keep in mind what amount I could afford and if the property would even make it through the mortgage review process.
Post-purchase behavior – After I bought the home, we kept looking at the prices around our neighborhood because we know this isn't our forever home so we would eventually sell it. I would regularly check out other listings within the neighborhood and even walk down the street to their open houses to check out the floor plan and ultimately the asking prices. Now we are making renovations to increase the purchase price of our home in the future.
Finch (2012) states that the four main psychological processes of consumer behavior are motivation, involvement, learning, and attitude. Marketers know that potential customers are in need of housing. The majority of the time, customers are highly motivated to buy a house. For instance, a person who has to relocate to a new city will be highly motivated to find a new home quickly especially if they are in a time crunch. Marketing departments also understand the thought process of involvement of the product and how it's customers learn about their products. They can advertise the quality of a developer in the area and link their brand as being well put together homes. It is essential to dissect how customers think and act when attempting to market a product appropriately.
References
Finch, J. (2012). Managerial marketing [Electronic version]. Retrieved from https://ashford.content.edu
ThursdayAug 13 at 9:12pm
Large purchases require thorough planning and consideration. Motivation is one of the key behaviors behind any large purchases. When we decided to buy our daughter her first car cost was a major concern but so was safety. The motivation however was taking into account that we no longer had to drive her around. As our text book states Consumer motivation refers to the internal state or processes that drive people to purchase products or services that they believe will fulfill conscious and unconscious wants and needs. Marketing strategies are oriented toward creating products that deliver a bundle of benefits that will satisfy the drives of target customers (Finch, J. (2012).
Perception is another major key factor, as parents of then a sixteen year old girl what she thought of her first car also mattered. Doing research on the upkeep and MPG would help us compare the best options. Psychological influences are those unique, personal factors that impact consumers' motivations to purchase and shape their perception of the importance of the purchase (Finch, J. (2012) things she would like to see in her vehicle like leather seats and bluetooth capabilities would derail us from going with a more expensive option. Learning and comparing is essential whenever you are making a big decision like this. We decided to buy her a 2012 WV Passat from Carmax. Our decision was made after we learned that we could get a much better deal from them verses the near by dealerships. She was thrilled with the choice and color. Its been several years and Lola still exist. Being involved one hundred percent of the way made the behavioral process a positive one. Reference: Finch, J. (2012). Managerial marketing . Retrieved from https://ashford.content.edu
ThursdayAug 13 at 10:05am
The GE Healthcare website is a very detailed and helpful website. The marketers thought long and hard about how to communicate very effectively with their targeted market, hospitals. By using both word links and graphic links on the website, they address the different ways that people learn. There are articles that their customers can access that verify the validity of the company and get outside opinions of the the products and services. The website also includes includes educational links for the hospitals to have quick access to help with operation of the products and insights into the services offered. Along with the educational links, there are optional literature link that allows the hospital to obtain product literature, sales or operational, about a product or service at the click of a mouse button. The icons on the right side of the screen gives the hospitals access to the social media presence of GE Healthcare for more research and opinions about products and services. If a consumer is not as tech savvy, there is a contact us link that gives telephone number to call and an optional live chat with a representative. There are even links to answer medical questions from hospitals in the Medical Affairs Team link.
While the website is a fantastic resource for hospitals, the sign in or register buttons suggest that the hospital may already have to be a customer to access the real content of the website. In traditional business to business marketing, the promotion or selling is usually in person and prices are negotiated and there were no prices listed on the website. When marketing to hospitals today, there is usually a network so there are many experts and buyers to deal with and convince they need your products and services. Are the sales representatives marketing the website or the products and services? The website is very impressive and informative, hopefully the products and services that GE Healthcare offer are the same.
ThursdayAug 13 at 6:31pm
GE Healthcare is a leading global medical technology company, which provides products, solutions, and services used in the diagnosis, treatment, and monitoring of patients. Helping improve healthcare around the world. In this era, the medical field is one that is continuously growing and in need of companies that can help and provide services to better patients outcomes.
After looking around their website, there were some fascinating areas where they seem to have invested the effort to provide the best information to its customers. The “About Us” section of their website was exact and objective. They also have Newsletters about new features and products that are introducing into healthcare, and also a link to learn more about their community engagement.
Finch (2012) states, there is a process consumers use when deciding on a purchase. It can be a low or high involvement decision making, but it is something companies need to take in consideration so they can improve marketing research.
GE Healthcare does provide much information about their products and how innovating can be beneficial to their customers. It does require the customer to dig in a little about a determined category they are researching about. Their actual online store is a little overwhelming and archaic. The decision on a consumers purchase is a reflection of their research information on that product. Some improvement in their online store can reflect when customers are doing research. Mentioned by Finch (2012) “Consumers use this information search process to reduce risk in the same way that organizations use market research.”
As mentioned in the textbook “Market research, or marketing research, provides managers with critically important insights into the customers they serve.” (Finch, 2012, Section 3.1, para. 1). The decision-makers need the best information possible about the projected buyers in order to target consumers and deliver what they need with satisfaction. By performing a consumer study based on how they are shopping and searching for products they can provide better information for their customers and connect with them in a better way.
Reference:
Finch, J. (2012). Managerial Marketing. Retrieved from https://ashford.content.edu
Healthcare Systems Home. (n.d.). Retrieved from https://www.gehealthcare.com/
Isaleny Delgadillo
ThursdayAug 13 at 9:37pm
Working in health care you tend to see what other organizations are lacking. GE Healthcare has a very informative website however it seems that some information is hard to locate. With the current pandemic the first thing you see when you visit the site is how covid-19 is being addressed. I particularly found the guidelines for how to keep device materials cleaned very interesting. During this current era it's important that everyone knows what majors precautions are being taken. GE would benefit from a more interactive site, the page is very bland. The information being provided is very solid but additional links to near by locations could be more useful. Companies too are influenced by what and how the seller is branding their products. Retail consumers and organizational buyers share some common characteristics in their approaches to decision making. For important purchases,both groups search for information as a means of mitigating the risk of making poor choices. The end-user market for consumer goods is influenced by a wide range of social, cultural, economic, and psychological forces. Some of these are unique to the individual while the impact of others spans large segments of the economy (Finch, J. 2012).
Reference:
Finch, J. (2012). Managerial marketing . Retrieved from https://ashford.content.edu (Links to an external site.) Healthcare Systems Home. (n.d.). Retrieved from https://www.gehealthcare.com (Links to an external site.)
