Question.348 - Topic 6 DQ 1 Using the topic Resources, discuss the factors that drive family purchase decisions. Explain why this information is important to marketers and discuss how they use it when marketing products. Illustrate your ideas with specific reasons, facts, and examples. In replies to peers, indicate whether you agree or disagree with their assessment and justify your response using the topic Resources.
Answer Below:
Hello Everyone! Multiple factors drive family purchase decisions. One of the important factors that influence such a decision is the situation of the buyer. In other words, for what event the buyer is purchasing and what is the exact product that the buyer wants to buy. Other factors are familiarity with the product's brand value, the brand image in the market, and the necessary level of the product to the buyer. Well, when it comes to individuals, personality, motivation, background, the financial status of the consumer plays a big role in making purchasing decisions (Armstrong et al., 2014). Information load can also lead to the negative side of purchase decisions because the more than necessary information creates confusion and frustration (Schiffman & Wisenblit, 2018). In the end, it leads to poor purchasing decisions. These details are crucial for marketers because they need to find the right target. So in the path of getting consumers, understanding their demands, expectations, is necessary to deliver the right product to satisfy them with the buying experience. Marketers can perceive the way how buyers think, decide, choose the products and determine how best can they market their brand. For example, generally, buyers see if there are any alternatives or other brands for the same product as mobile phones. Buyers consider price, battery capacity, performance, the brand image in the market before buying a particular mobile phone. This causes marketers to manufacture better products and provide unique features to attract customers so that they can buy their products. Reference Schiffman, L., & Wisenblit, J. L. (2018).?Consumer behavior, (12th ed.). Pearson Education. Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014).?Principles of marketing. Pearson Australia.More Articles From Marketing
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