High Involvement and Low Involvement Purchase
Principles of Marketing, MKT301
Select TWO products which you have bought (or rented), ONE a High Involvement purchase, and ONE a Low Involvement purchase, in the following product categories A FOOD GOOD, A SERVICE OR A TRAVEL-RELATED GOOD.
Applying the teaching materials, explain why the first product you chose was a High Involvement purchase and why the second was a Low Involvement purchase. (10%)
Using the five stage model of the Purchase Decision Process in the model of consumer buying behavior described in Module 1, describe in detail the process you went through in buying each product. Bear in mind that the purpose of the assignment is to demonstrate …show more content…
As for my house, even though it is not through Gieco completely it is with a partner of them and was still much cheaper with the same coverage that we needed. Once I switched companies I waited for a month to see how much money my family had left over for spending/saving and it was mind boggling.
As for my low involvement purchase I really did not do any research. I knew what I wanted to do, and saving money was not necessarily an important aspect. I had no need to do research or do comparisons. This purchase was a “want” over a “need.” The want was more family time to travel rather than the need to save money and get there sooner. This was a very easy process to determine what I was going to do for the quality time of my family. Turned out to be a very fun trip with my 6 year old son being able to see things he had never seen before. And of course my dogs being able to go on a family camping trip and not be kenneled for a week.
If I were to market for Gieco Insurance, I would use the influencing purchase probabilities. To do this I would do a comparison of the major Insurance companies used in the states and overseas. I would gear my marketing towards military members and their families. Due to military members constantly up on the move, deploying and being forced to move to another country I would market Gieco in the fashion of being a global competitor. USAA is another major military insurer; however, USAA does not allow for members to