MKT530 - Consumer Behaviour

Total Marks 5 Starting Date Tuesday, July 30, 2019 Closing Date Monday, August 05, 2019 Status Open Question Title Influence of Family Question Description Learning Objectives: The objective of this discussion is to make students able to understand the importance of family members in household decisions. Learning Outcomes: After attempting this GDB, students will be able to comprehend the power “tech-savvy teens” hold in family decision making and how marketers focus their marketing efforts on them. Scenario: Children have been a major focus of marketers to communicate their marketing messages as they are considered major force to persuade the parents (actual decision maker) to purchase any product. In recent years, this focus of marketers has become even more specified and now most of the companies’ major focus is teen internet users. These teens are called “tech-savvy teens” and have the following characteristics: They have great interest in internet. They are proficient in using modern technologies. They have great knowledge of internet based market place. More expertise in searching and finding information on internet. With the widespread use of internet and today’s tech-savvy teen kids; marketers have realized that these teens have more influence in family buying. The idea is that there is wealth of information available on internet about almost every product as most of the businesses today are working online as well as physical. Besides the information provided by the companies, there is immense user reviews available on internet which can be seen before buying any product which gives a customer almost half of the experience of using a product. According to research, these tech-savvy teens are the window for their parents to the cyber world as they provide all the information to their parents. Research has also shown that these tech-savvy teens have stronger influence on decision making in initiation, search, evaluation and choice stages of decision process. Clearly, in this era of technology, the influence of these tech-savvy teens on family decision making presents unique challenges for marketers including how to effectively communicate to this category of household as well as how to simultaneously communicate the message to the whole family. Requirement: Keeping in view the given scenario, discuss the challenges faced by today’s marketers with the emergence of this new category in household units i-e- “Tech-savvy teens”. (8 marks) Special Instructions: Discuss only four points. It must be your genuine discussion; copied work will be marked as Zero. Your answer must be in bullet form but in case of paragraph, it must be very brief and precise, and restricted to ONE paragraph only.