MKT 421: Introduction to Consumer Behavior

Summer 2020
Quiz 1

Name: MD. Rakin Ashhab

ID: 17304049
Marks: 10 Time: 40 minutes

[Save the answer under your name and ID and save it in Google drive Quiz 1
Folder]

1. Select any one level from Maslow’s hierarchy of human needs that can be used to promote and
position the product to a given segment. Describe how you would use the need, you selected to
promoting and the market segment. What are two major advantages and two disadvantages of
using Maslow’s need hierarchy in terms of segmentation and positioning? (3+2) (Give a link to
an ad (can be print ad/ video ad) which successfully represents the Maslow’s hierarchy that you
have mentioned) (Bonus 2 Marks)

2. Apply Value and Retention Marketing Model in the perspective of current situation (Covid-19)
and explain 5 strategies which are not currently available in Bangladesh on Online Ride Sharing
Services. (5)

Q1 answer: In the Maslow's hierarchy needs I would decide to concentrate on social needs as it is
simpler to cause client to feel feelings. Assume my item is a mask item. It is simpler to pull in and catch
the client’s eye by referencing the need of the items and to cause them to acknowledge how it can make
their own life just as their family life more secure and sounder. This can be utilized in various and
assortment of items to acquaint a specific element or with focus on a specialty advertises. At the point
when clients see a promotion which speaks to feelings/social needs they are without any problem pulled
in/intrigued to purchase the item.
Two advantages of Maslow’s Hierarchy needs in terms of segmentation and positioning are:

I. It can be easily segmented as per customers needs

II. It helps marketers to target their market with specific needs shared by a large segment on their target
market

Two disadvantages are:

I. Different culture might face problem as it is cultural bound model

II. Same product can not satisfy several needs at a same time

Video link: https://www.youtube.com/watch?v=779KwjAYTeQ

Q2 answer: Customer value is the fulfillment the client encounters (or hopes to understanding) by
making a given move comparative with the expense of that activity. The given activity is customarily a
buy, however could be a sign-up, a vote or a visit, while the cost alludes to anything a client must
relinquish so as to get the ideal advantage, for example, cash, information, time, information. In the
other hand customer retention definition in showcasing is the way toward connecting with existing
clients to keep purchasing items or administrations from your business. It's not the same as client
procurement or lead age since you've just changed over the client at any rate once. The best customer
retention strategies empower you to frame enduring associations with purchasers who will get faithful
to your image. They may even get the message out inside their own circles of impact, which can
transform them into brand envoys. So if we apply these models on current situation of Covid-19, we can
clearly see that lots of strategies are missing due to lockdown. Such as:
a. As we know that among all of the ride sharing service providers in our country, everyone
provide service through mobile app. But still lots of people even in Dhaka do not even
know how to use an app from mobile let alone use it.

b. Even though all ride sharing service providers fixed rules about fare per kilometer,
maximum of people do not obey this rule in street. Sao this is very much troubling for
customer like middle class in this lockdown situation.

c. The riders do not provide good quality helmet although the companies do provide them
helmets of good qualities. Duo to Covid-19 situation, virus can easily spread through
helmet to one person to another. Some riders took initiative but still maximum are not
aware of this.

d. Duo to Ovid-19 situation, the ride sharing companies are losing their loyal customer
because maximum people are now afraid to get in bike or car with another person.

e. Duo to lockdown, lots of riders are now afraid to go to street for sharing ride. Some
other people are taking this thing as a benefit and giving ride without app or anything
and they are not even registered as riders. These people can be very dangerous and
difficult to trust.