NMIMS MBA Consumer Behavior Solved Answer Assignment
15
Oct
2024
Consumer Behavior
1. Explain Motivation in Consumer Purchases. Taking Sony and Bose as examples of a Home Theatre System, explain how what are the Rational and Emotional Motives for purchasing SONY or BOSE Home Theatre System.
Ans
Introduction
Buying motive of consumers is the motive or urge to satisfy the consumer’s need or desire that makes them happy the buy services or goods. Behind the individual purchase, buying behaviors of motive affect both consumers and business growth simultaneously.
Concepts and Application
Define consumers’ purchases and their motivations-The consumer motive is described as a simple and compelling reason to carry the automatic response and particular behaviors in the business stimulus. The instincts and different consumer purchase decisions are responses and inborn and involuntary changes.
Conclusion
Therefore, consumer buying or purchasing behaviors have been described in the above section. Furthermore, consumer purchase behaviors have been driven as a process from the purchase formations, information acquisition, and intention to design the best decision-making problems.
2. You want to purchase a washing machine. With reference to this explain what is Total Set, Awareness Set, Consideration Set, and Choice Set before making the final choice of the washing machine that you and your family desire to have/ own and use. (10 Marks)
Ans
Introduction
The stakeholder’s decision-making process is described as the involvement of different steps. It includes the purchasing decision, problem recognition, alternatives evaluations, information search, and purchase decision. Furthermore, the consumer decision process also consists of the information search, recognition, and alternatives evaluations to enhance consumers’ purchase decisions.
Concepts and Application
Define the decision-making strategy and its importance in individual lifestyle-The decision-making strategy or skills is essential for working professionally or personally to understand the industry demand. The leaders and managers who mainly draw the best practices use the method of different decision-making changes.
Conclusion
Therefore, the decision-making process and techniques have benefited consumers in finding the best decision related to buying new products. Furthermore, consumers have developed decision-making to plan the buying products journey at the current time.
3. Answer the following:
What is acculturation? Give 5 products or services that the Indian consumer has adopted for their regular consumption as a result of acculturation. (5 Marks)
Ans
Introduction
Human or employee experiences play an influential role when asking about the organization’s values and business environment. Furthermore, acculturation is evaluated as a process of incorporating and learning matters, customs, and language.
Concepts and Application
Introduction of acculturation-Similarly, it is assimilation with the other dominants and cultures. The acculturation process can have an impact on both psychological and social well-being. It includes behaviors of individuals that are affected by the level of changes and habits.
Conclusion
Therefore, the overview of acculturation has been discussed in the above section. Furthermore, the acculturation process is also analyzed, evaluated, and explores the competitive outcome to explore the different cultures.
1. Fear and Optimism / Positivity drive consumer behavior. Give 2 examples for fear and 2 examples of optimism / positivity has been used to drive customers to either buy certain products or stop them from buying certain products / services. (5 Marks)
Ans
Introduction
Consumer behavior is a demanding element affecting the business’s different factors, including marketing, environmental, situation, and personal characteristics.
Concepts and Application
Define positivity or optimism drive related to consumer behavior-Similarly; fear of consumerism is called consumer anxiety, which refers to personal consumption. It sometimes drives anxiety related to individual behaviors due to judging values and perceptions to explore consumption.
Conclusion
Therefore, information on consumer behaviors such as fear or positivity has been described. Confidence and hopefulness have been explored for success or future values to drive the consumer lifestyle positively.
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