Question
This hands-on experience applying the ideas related to absolute value as discussed in Itamar Simonson's article, What Marketers Misunderstand About Online Reviews.Select either a product
This hands-on experience applying the ideas related to absolute value as discussed in Itamar Simonson's article, "What Marketers Misunderstand About Online Reviews."Select either a product or a service where O plays a role in the customer's purchase decisionfor example cars, consumer electronics, apparel, dining, etc.
Don't pick a category such as toothbrush or paper towels where the shopper is not going to be influenced at all by O (While people may occasionally talk about toothbrushes or paper towels, in this domain, their choice is not significantly influenced by peers.).
- Describe how significant O is for your product or service. Where does the product or service lie on the O-continuum? Do you think consumers can make absolute evaluations in this case based just on O? What is the relative importance of P and M in the customer's decisions?
- Do you think the weights of the three sources (P, O, and M) within the category you chose are likely to evolve overtime?
- Choose a brand from that category and carefully examine the information provided by the brand on its website, advertisements, Facebook or Instagram page, or any other marketing material. Do you think that information is effective in convincing consumers at any stage of the purchase journey (Awareness, Interest, Desire, and Action)? Why?
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