MK0011 –Consumer Behaviour

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ASSIGNMENT

DRIVE	SUMMER 2016
PROGRAM	Master of Business Administration- MBA
SEMESTER	3
SUBJECT CODE & NAME	MK0011 –Consumer Behaviour
BK ID	B1722
CREDITS &MARKS	4 Credits, 60 marks

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.

Question.1. Briefly discuss the concept of positioning & how does it benefit a brand ?

Answer: Positioning is a marketing concept that outlines what a business should do to market its product or service to its customers. In positioning, the marketing department creates an image for the product based on its intended audience. This is created through the use of promotion, price, place and product. The more intense a positioning strategy, typically the more effective the marketing strategy is for a company. A good positioning strategy elevates the marketing efforts and helps a buyer move from knowledge of a product or service to its purchase.

Question.2. Discuss the importance of injecting emotions into advertisements. Give suitableexamples.

Answer: Advertisers talk a lot about the importance of generating an emotional response from people. However, they rarely stop to specify exactly what characterizes such a response or why they believe it is important.

Granted, this definition is not a simple task, and the lack of clarity surrounding terms such as “emotional,” “rational,” “subconscious,” etc., is a further complication. However, a review of current learning on the way emotion guides our

Question.3. Discuss the concept of brand equity & how does it benefit the company?

Answer: Brand equity is a critical part of building a business, and companies that successfully build one understand just how important it is to the bottom line. However, it takes time, patience, and a great deal of effort to build positive brand equity as you’ll learn in my new series, Brand Equity Basics.

Loyal Customers

Question.4. Discuss three component model of Attitudes. What is the relevance of this model toadvertising objectives?

Answer:Attitudes can be defined as evaluations of ideas, events, objects, or people. Attitudes are generally positive or negative, but they can also be uncertain at times. For example, sometimes we have mixed feelings about a particular issue or person. Regardless, attitudes are an important topic of study for social psychologists because they help determine what we do - what we eat, how we vote, what we do with our free time, and so on.

Affective Component

Question.5. Discuss the nature of family decision making.

Answer: The Family Life Cycle. Individuals and families tend to go through a "life cycle:" The simple life cycle goes from

For purposes of this discussion, a "couple" may either be married or merely involve living together. The breakup of a non-marital relationship involving

Question.6. Write short notes on:

a) Approaches to ascertain consumer’s needs

Answer:A need is a consumer's desire for a product's or service's specific benefit, whether that be functional or emotional. The emotional benefit tends to be a stronger driver for consumers, as functional benefits can be easily copied by competitors. On the other hand, a consumer want is the desire for products or services that are not

b) Store image

Answer:"Store image is the image or impression of a store in the minds of customers. Good overall impression of this nature in terms of products available in the store, the store itself and the experience they expect when shopping at the store. So it can be said that the store image is actually a reflection of the overall customer to store environment.

"Store environment is an important

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