Answer all the Market Fall questions

Answer all the Market Fall questions

Direction: Students are given 3 essay questions. Answer all the Market Fall questions. For each question, provide concise and creative answers using some relevant examples to clarify the answers, if necessary.

1. At the stage of pre-purchase evaluation, it is well-known that consumers are utilizing one of several decision rules under the piecemeal process when they evaluate all the alternatives in the consideration set. The piecemeal process includes five types of decision rules such as two compensatory (simple additive and weighted additive decision rules) and three non-compensatory rules (Lexicographic, elimination by aspects, and conjunctive decision rules). Using the rating data of a particular person as shown in the table below, answer the following questions: (20 points)
   • 1) Identify which brand will be chosen when consumers use each of two compensatory and three non-compensatory decision rules mentioned above. Show your detailed calculation steps for each decision rule for a better score. (10 points)
     2) Discuss what marketing manager of IBM brand should do to make IBM brand chosen assuming that consumers are using both lexicographic and elimination-by-aspect decision rules. Use the sensitivity analysis approach for this task. (10 points)
     Example: When a specific brand is not chosen during the alternative evaluation stage, it is essential for marketers to identify how to revert the entire evaluation process and persuade target consumers to choose your specific brand using the sensitivity analysis. Assume that target customers are using each of simple additive, weighted additive, lexicographic, elimination-by- aspects (EBA), and conjunctive decision rules for the alternative evaluation process. Given that, the goal of this group work is 1) to calculate which brand is chosen when using each decision rule and 2) suggest your recommendations to persuade consumers to choose the brand IBM—as your brand—for each decision rule.

2. Most of firms in recent years would like to measure an overall satisfaction once customers purchase any product or service. As you see, the following is the framework for showing how customers form their satisfaction with the use of the acquired product. Given this framework, discuss how to measure an overall satisfaction. Provide specific survey questions. (20 points)
3. Take a look at the following promotion campaign offered by Macy’s store. Given this case, answer
   the following questions. (20 points).
   • 1.)Identify what kind of learning theory is used as the basis and discuss one major intention that Macy’s store has when offering this program with respect to any specific reinforcement schedule. (10 points)
   • 2.)Unlike the intended perspectives of the store above, consumers ask more discounts when they attempted to make their repeat purchases. Given the contradiction between the perspectives of target consumer and retail store, suggest your ideas to make this promotional campaign successful. (10 points)

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