Principles of Marketing
Marketing Environment and Marketing Strategy
21 October 2013
BELOW THERE IS A LIST OF THREE PRODUCT CATEGORIES. WITHIN THE PRODUCT CATEGORIES LISTED BELOW IDENTIFY TWO PURCHASES YOU HAVE MADE. ONE MUST BE A HIGH INVOLVEMENT PURCHASE, AND ONE A LOW INVOLVEMENT PURCHASE. THE TWO PURCHASES CAN BE FROM THE SAME PRODUCT CATEGORY, OR FROM TWO DIFFERENT PRODUCT CATEGORIES, AS APPROPRIATE: In Module One we were asked to pick two products and then describe in detail why one was a High Involvement purchase and the other was a Low Involvement purchase. I chose a Swedish made watch as my High Involvement purchase and picking a restaurant as my Low Involvement purchase. I used the five stages of the Purchase Process to determine each. To begin, The reason I chose to conduct my on a Swedish made watch is because I need a new watch and I wanted to make sure I was getting the one I liked the most and the one that fit my budget. For me, the High Involvement Purchase comes in the way of the type and quality of items I have to choose from and if I’m making the right decision. Step one, problem recognition; I needed a new watch and steps two and three, information search and evaluation of alternatives. It is in these two steps that I learn that buying a Swedish made watch is more then I would have ever thought and I got overwhelmed by all the choices I was faced with. Let’s be honest, how do you chose the right watch when the jeweler is showing you so many and their all very appealing and owning any of them would be a great purchase. Step four, purchase, begins with noticing how much the price of Swedish made watch cost. Step five for me is the most important, post purchase evaluation. Now I admit that I needed a new watch and was a little overwhelmed by the styles, color, and types and prices; but I wanted to make sure I was purchasing the watch that I would like 10 years from now as I did today. I explained why for me buying a watch is a High Involvement Purchase and will now explain why picking a restaurant is a Low Involvement Purchase.
For me finding a place to eat is not that hard and I would call it a Low Involvement purchase, and using the 5 Step Purchase Decision Process I will explain. Step one, problem recognition; I am hungry and I need to eat. I like food, all types to be exact, so picking a place 99% of the time is easy. Steps two and three, information search and evaluation of alternative are pretty much non-existent, really. I love food and I am always willing to eat at that hole in the wall or that new diner. Step five, the purchase; this is my favourite step. Even though I am very open to where I eat, it always feels like Christmas and the food is the present, I don’t care what it