Question

1a)Using bicycles as an example, explain the differences between universal, retrieval, and evoked sets, and identify the one that is most important to marketers.

b)Define the term postpurchase cognitive dissonance and give an example of when this happened to you. Then explain what the company could have done to lessen your dissonance.

Answer 1

1a) As in the case of bycycle universal are different possible forms of the same products such as an atlas cycle with gear and without gear. Retrieval are brands that customers are aware of and considers to buy ,such as the atlas cycle which has the trust of consumers and they are fully confident and aware of it .Next is the evoked sets ,it is a brand which is a consumers next best alternative such as the other small brands like hero cycle as an alternative to atlas cycle .within all these three the most important is the universal one so that different varieties are available within a single brand of customer choice so that they can choose within such wider options available within a single brand.

b)post purchase cognitive dissonance is a situation in which after making a purchase the customer tends to believe that he has paid much more than the actual price .In this case the companies can keep products of different brands from high range to low range so that customers are fully confident after purchase that they have purchased a good product and within an affordable range.This happened with me during purchase of a high range perfume.