Answer:
The consumer's level of involvement can lead to two types of buying decisions: limited problem solving or extended problem solving
Explanation:
limited problem solving:
It is a problem solving process in which customer is only willing to put very little effort to make a purchase decision in order to fulfill his want or need. Purchaser uses simple decision rules for reaching a a purchase decision with minimal research done. He is not much concerned about the best solution and has limited resources and time for searching information and assessing each alternative thoroughly.
For example: you need a new pair of joggers for gym. You are already have an idea about joggers and know about new available materials and attributes. So you might do a bit research online and come to a decision comparatively quickly. You might consider your favorite outlet instead of searching for the joggers at every outlet. So you take buying decision limiting involvement in this process.
extended problem solving
In this process the costumer attempts to collect as much information as possible, and thoroughly assess and evaluate product alternatives. So in this situation buyer don't have much idea about the product brands, attributes and characteristics to access the product. Purchaser will research, differentiate and put a lot of effort for taking best buying decision that will fulfill his needs. prior to purchasing the product, he might visit various outlets, research online, search for reviews and suggestions, take information from outlet staff. about the product Marketer should provide with such information to customer.
For example high value items like car, a house etc. Such items are not purchased often so the consumer will invest a lot of time in research and comparison in order to take the best decision.
Answer:
The correct answer is D) gatefold.
Explanation:
In gatefold advertising it refers to that information that is displayed on more than one sheet and that needs to be fully opened in order to see the message. Generally this type of advertising is shown in physical media such as magazines and newspapers, being the first most common. This strategy allows captivating the attention of the reader to make him think exclusively about what is being promoted, since there is no different distractor.
Answer:
511
Explanation:
RFM analysis - recency, frequency, monetary
RFM analysis is used to analyze and rank customers according to their purchassing patterns.
RFM (recency, frequency, monetary) analysis is a behavior based technique used to segment customers by examining their transaction history such as
- how recently a customer has purchased (recency)
- how often they purchase (frequency)
- how much the customer spends (monetary)
It is based on the marketing axiom that 80% of your business comes from 20% of your customers.
RFM helps to identify customers who are more likely to respond to promotions by segmenting them into various categories
<u>Solution:</u>
Ajax Inc. is one of the customers of a well-known linen manufacturing company. Ajax has not ordered linen in some time, but when it did order in the past it ordered frequently, and its orders were of the highest monetary value. Under the given circumstances, Ajax's RFM score is most likely <u>511</u>.
Answer:
Answer is D. monthly living expenses (rent or mortgage, property tax, mortgage insurance, minimum credit card payments, and monthly loan payments)
Explanation:
Edge
Answer:
a. Undifferentiated products and variable prices in the various channels.
Explanation:
Horizontal Channel Conflicts arises when there is disagreement between two or more members of the channel. If the toy manufacturer sells toys to toy store and department stores, a possible reason for disagreement could be on variable price among the two channels.
