Economics

Q1- Darcy, a middle-upper-class professional accountant is keen on purchasing a Gucci handbag. Identify and discuss the five stages of the consumer decision-making model that Darcy is likely to go through before her purchase. In discussion, should make a note of the role of marketing activities that may influence Darcy's decision at each stage of the decision-making process.

Q2- Explain the concept of reference groups. What are the likely factors that determine the degree of influence reference groups will have on Darcy's purchase decision? Identify TWO reference groups that may influence Darcy's decision to buy or not buy a Gucci product.

Q3- 'Marketers do not create needs, needs pre-exist'. To what extent do you agree or disagree with this statement? Is this likely to be true for Darcy? Illustrate your answer with relevant theories and examples.