Question

Discuss motivational theories that impact buying behavior?

CASE STUDY SITUATION You are the vice president of development for BULLET, the second largest discount retailer in the nation. The senior VP has asked you to analyze a new sales venture and determine how to build a clientele foe the new venture and for traditional BULLET stores. There are close to 2000 BULLET stores across the country, most anchoring strip malls or outdoor shopping centers. BULLET stores feature typical grocery store items along with pharmacies, apparel, home décor, books, toys, electronics, seasonal items and health and beauty sections. BULLET’S biggest competitor is BOX MART, the leading discount retailer. BULLET does not come close to the number of store locations nor the revenue that BOX MART produces each year. Aside from similar store layouts and product offerings, there are notable differences between the two discount retailers. Although product offerings are similar, BULLET has a much different image than BOX MART. BULLET is perceived to be better organized, with a more streamlined store layout. They are also more in touch with fashion trends and home décor. BULLET also markets higher quality house brands in all departments, most notably in its food and beverage departments. BULLET offers a wide variety of fresh, ready-to-eat meals that beat BOX MART’S offerings in customer ratings each year. Executives at BULLET have decided to test market a concept for a BULLET branded convenience store. The BULLET convenience store will be located away form BULLET stores and will offer fuel and the loyal BULLET customer, and also new clientele who does not usually shop at BULLET stores. They are also hoping to attract the BOX MART customer. YOUR CHALLENGE The senior VP wants you to determine how a BULLET C-store can feel like a BULLET store, rather than a typical convenience store. You are to suggest techniques tha can expose BULLET C-store customers to BULLET retail store products, ideally resulting in a larger clientele for BULLET retail stores. In addition, you need to plan the product mix the BULLET C-stores; what typical convenience store products should be sold and what other products should be sold to keep up with BULLET’S well-regarded image? Are there store services that should be offered or not?

Answer 1

Motivational theories that impact buying behavior:

There are different models of purchaser conduct

1. Economic model-here purchaser buys items that give high utility as far as the monetary worth

2. Psychological model-This model depends on Maslow's need pecking order hypothesis where individual buys items that fulfill their need. Thus unique client buys distinctive item dependent on the prevailing need

3. Howarth-Sheth Model-This model proposes buyer conduct as a result of info – process yield model where the outer upgrade is prepared utilizing the learning, discernment and mentality of person which prompts buy choice.

4. Engle – Blackwell – Kollat Model

Here the model starts with issue acknowledgment which triggers data search followed by gauging the options accessible for buy choices. When a reasonable option is distinguished buy is started and this fulfillment in buy starts the post buy choice.

Techniques to expose BULLET C store customers to BULLET retail store products:

1. Offer faithfulness reward and rewards

2. Better client offers

3. Recommend suitable item decisions utilizing man-made reasoning

4. Marked items

Product mix for BULLET C- stores..

It must be founded on the hour of procurement and need of the purchaser. They can follow a liquid model that organizes and makes accessible items dependent on the need of client by then of time. Indulgent merchandise likewise would furnish an extraordinary encounter alongside conventional rundown of things in the store

Morning-Newspaper, milk, Bread and margarine, Sandwiches

Mid break-treats, Snacks, servings of mixed greens, drinks, new squeezes, writing supplies, over the counter medications, canned nourishments

Lunch-Quick dinners, sandwiches, drinks, bundled nourishments

Lunch time Snacks and drinks, writing supplies, over the counter medications

Supper and late night-Health nourishment alternatives, Beverages , candles, electric lamps, canned nourishments

Ends of the week Packaged nourishments, breads, toys, vegetables, pastime units, and so forth.,

Are there store services that should be offered or not.

No, The current items must be looked into for stationary items. Any item in the store will have an interest among customers in light of the fact that every individual has various necessities. Any client who goes into a store should have his needs fulfilled before he leaves the store, so even a moderate moving item ought to have a spot in the store.

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