Question

Tasks: (Answer both a AND b)

a) When buying a new mobile phone, describe the consumer proposition acquisition process.

b) Discuss the importance of the consumer proposition acquisition process to a modern business.

Answer 1

a) the consumer proposition acquisition process while buying a new mobile phone is as follow:

-the first step is problem recognition. The consumer before purchasing should know the reason to believe that why they want the mobile phone or how buying a mobile phone will solve the problem they are facing. For the market, it is like creating an opportunity.

-The next step is information research, where the customer recognizes a problem, and customers start investigations about buying a phone. When customers want a new mobile phone, they will go through different brands and look for better technology satisfying their needs.

-evaluation of alternatives is the third step in the process. There are several competitors in the mobile industry. Before buying a mobile phone, the customer wants to be sure that they do proper research of the brand and the features a mobile can offer to solve their problem. This step establishes a customer relationship with the company.

-The next step is to purchase decisions where customers explore multiple options, including pricing, technology, payment options, features, and whether or not to buy the mobile phone.

- the fifth step is about the purchase. I need for the mobile phone is created, and the customer decides to make a purchase. Marketing is critical because a customer might not be sure about your brand and might switch to another.

-post-purchase evaluation is the last step where the purchase has been made, but the process doesn't end. After purchase, the question arises that is the customer satisfied with the mobile phone, and the decision regarding the mobile phone was right or not. If a customer feels an incorrect choice, then the return could also take place.

b) the importance of the consumer proposition acquisition process to a modern business is as follow:

-the process helps in keeping the demand and supply in balance bye starting about the customer mindset.

-through this process, customers can identify the need to evaluate the other options and collect information to decide what they need to purchase.

-this process will help the sellers reduce the return or exchange option as a customer will buy a product after proper research.

-this process helps the business study about consumer needs before introducing any new product in the market.