MK0011- CONSUMER BEHAVIOUR

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ASSIGNMENT

DRIVE FALL	2014
PROGRAM/SEMESTER	MBADS – (SEM 3/SEM 5) / MBAN2 / MBAFLEX – (SEM 3) /
SUBJECT CODE & NAME	MK0011- CONSUMER BEHAVIOUR
BK ID	B 1722
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

1 Explain the tri-component attitude model

Answer : In the under discussion model of attitude, three components of attitudes are identified by researchers n these are; Cognitive Component, Affective Component, Co native Component. Three components are interrelated and integrate to form an attitude of a person toward any product or service in consumer scenario.

Cognitive Component:

Cognition is basically making decisions going through a thinking process. So this thinking process can occur on the basis of knowledge and perceptions that

2 Describe the levels of consumer decision making while buying.

Answer : Levels of consumer decision making while buying :

1.Problem Recognition :

In this information processing model, the consumer buying process begins when the buyer recognizes a problem or need.  For example, Doug may realize that his best suit doesn’t look contemporary any more.  Or, Kathleen may recognize that her personal computer is not performing as well as she thought it should.  These are the kinds of problem that we as consumers encounter all the time.  When we found out a difference between the actual state and a desired state, a problem is recognized.  When we find a problem, we

3 Explain brand image and the dimensions of brand personality

Answer : Brand image is the current view of the customers about a brand. It can be defined as a unique bundle of associations within the minds of target customers. It signifies what the brand presently stands for. It is a set of beliefs held about a specific brand. In short, it is nothing but the consumers’ perception about the product. It is the manner in which a specific brand is positioned in the market. Brand image conveys emotional value and not just a mental image. Brand image is nothing but an organization’s character. It is an

4 Explain the VALS (Value and Lifestyle) framework with diagram.

Answer : VALS Theory & Concept

VALS: A science of using the demographics and psychology profiles to understand the consumers in a better and in a proper way. VALS was developed by Arnold Mitchell and his colleagues at Stanford Research Institute which is a world’s largest research institute in California City. It was developed in the year 1978 and there have been the use of Abraham Maslow’s philosophy as well the David Riesman – one of the Harvard sociologists. They have divided the buyer in different groups on the basis of the traits of personality which are values and the lifestyles. They have done the research on the basis of questionnaires in 4

5 Explain the five categories of Adopters in innovation process.

Answer : Categories of adopters in innovation process :

1. Innovator: Venturesome :

Observers have noted that venturesomeness is almost an obsession with innovators. They are very eager to try new ideas. This interest leads them out of a local circle of peer networks and into more cosmopolite social relationships. Communication patterns and friendships among a clique of innovators are common, even though the geographical distance between the innovators may be considerable. Being an innovator has several prerequisites. These include control of substantial financial resources to absorb the possible loss owing to an unprofitable innovation and the ability to understand and apply complex technical knowledge.

2. Early Adopters: Respectable :

6 Briefly discuss the decision-making models.

Answer : As a leader, you'll frequently be required to make decisions which can have significant impacts on your organisation and team. Therefore, you should have a good understanding of the different models of decision making and what's involved in making a good decision.

The first thing you should be aware of is the importance of critical thinking and its direct impact on effective decision making. Critical

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