Assignment – Fundamentals of Marketing

Q.1 You are a purchasing manager in a textile company. You want to buy a
laptop for your personal use at home. Explain the process you will follow for
buying this laptop. (5 marks)

Ans.1 The process for buying his laptop would be

 Need Recognition
 Information Search
 Evaluation of Alternatives Purchase Decision
 Postpurchase Behaviour

NEED RECOGNITION

It is the difference between an actual state and a desired state.

 Actual State:- It is the way an individual perceives his/her feelings

and situation to be at present time.
Ex- The need to buy a laptop to solve the problem.

 Desired State:- It is the way an individual wants to feel or be at the

present time.
Ex- To buy a new laptop to enjoy the experience.

INFORMATION SEARCH

 Personal Sources:- To seek information about a product from

friends,family etc. Most influential source of information.

 Commercial Sources:- To seek information about a product from

advertising,salesperson etc. Receives most information from these
sources.

 Public Sources:- To seek information about a product from social

media,consumer ratings etc.
  Experential Sources:- To seek information about a product by
using,examining the product.

EVALUATION OF ALTERNATIVES

During this stage, consumers evaluate all of their product and brand options
on a scale of attributes which have the ability to deliver the benefit that the
customer is seeking.

 Product Attributes:- To evaluate the price,quality and features.

 Degree of importance:- Which attribute matters the most?

Ex- in laptop-the latest version

 Brand Beliefs:- What do the consumer believe about each available

brand.

 Total product satisfaction:- Based on what the consumer is looking

for,how satisfied is he/she be with the product.

 Evaluation procedures:- Choosing a product based on one or more

attributes.

PURCHASE DECISION

During this stage,the consumer may form an intention to buy the most
preferred brand or product.

Disrupted by 2 factors:-

1. Negative feedback of others

2. Due to a situation that one did not anticipate,such as losing a
job or a retail store closing down.

POSTPURCHASE BEHAVIOUR
 It is when the customer assesses whether he is satisfied or dissatisfied
with a purchase.

Cognitive Dissonance is when the customer experiences feelings of

post purchase tension,anxiety etc.

Some companies have post purchase communications to know how

consumers feel about their products and influence them for future
purchases.

Q.2. Read the following case let and answer the questions that follow:
(2.5*2=5 marks)

The evolution of online matrimonial services in India has splurged in the

latter half of the decade. Most of the companies offering matrimonial
services initially focused on the field of match-making but they later started
extending their service offering to include services like wedding planning,
horoscope matching, etc. Unlike the traditional matchmaking operations,
which were restricted to certain areas, the online matrimonial services have a
pan Indian presence. This has given the online companies a competitive
advantage that traditional companies have not been able to match with. The
newspaper dailies are finding it useful to go online when it comes to
matrimonial advertisements.

1. "Considering the significance, the institution of marriage holds in the life

of an Indian, Internet matrimony was sure to be a winner." What were the
reasons behind the success of companies like Shaadi.com and
Bharatmatrimony.com?

Ans:- A LARGER POOL EXISTS ONLINE

A traditional matchmaker at most knows a few dozen eligible men and

women.Hence the pool of suitors they grant access is small.

Online,the pool is vast,far more than is available with a dozen suitors. It has
the option to write about your likes and dislikes, liking or ignoring the
profiles etc.
FEWER MISTAKES HAPPEN ONLINE

You can get less and unverified information about the suitor through a
matchmaker as they always have the hidden agenda. They might give false
algorithms to match the couples.

As in online, when someone posts comments it helps to judge whether

someone is as genuine as they project themselves to be and online
horoscopes are accurate.

SEARCH

 Info Rich environment

 Provided privacy
 Distance and geography no bar

MATCHMAKING

 Horoscope based matching

 Can pursue multiple matches simultaneously

INTERACTION

 Contact through the service

 Phone and email addresses
 Built in chat services

2. Newspapers like the Times of India and Hindustan Times have come up
with online offerings, for the matrimonial ads placed in those newspapers.
Discuss the reasons that prompted newspapers to enter the online
matrimonial space.

Ans:- These are the reasons that prompted newspapers to enter the online
matrimonial space:-
1. It enables you to view your ad before it is published in the newspaper
of your choice.

2. You can create your own advertisement with the help of online tools.

3. The ad rates are directly available.

4. Saves a lot of time and efforts.

5. It can be published anytime as per your convenience.