1st Answer

Introduction: Well, the reasons James has for wanting to buy a house and planning
to buy one tend to have a significant impact on the process of shortlisting. He is
currently living in an apartment with good neighbours, but he wants to upgrade to a
larger space because it lacks certain amenities.
The Idea and Its Application:
It is essential for him to determine certain aspects that must be taken into
consideration when purchasing the appropriate property before proceeding with his
final decision. The first and most crucial question James needs to ask himself is,
"Why does he need to purchase the house? " before settling on his ideal residence.
because James would have to pay the interest on a home loan, whereas the return
on rent is typically greater. James is looking for a bigger house because of certain
circumstances in the preceding scenario. His wife is a housewife, and they have two
children. He wants to ensure that he moves to a community with sufficient security
and a play area for his children because he is still very busy at work. James needs to
decide whether he wants a property that is already built or one that is ready to move
into. The committed delivery period cannot be extended by two years if the
requirement is to be met within a year.
In addition to the time, it will take to build, it is important to know what kind of house
you want: a one-, two-, or three-bedroom home.
James will be able to narrow down his search and determine his budget for
purchasing a particular house once he is aware of the size and specifications he
requires. He will also be able to determine whether or not his preferred location is
within his reach. Aside from that, based on these factors, he can also determine the
various options and offers offered by various builders, allowing him to negotiate a
better deal with the developer.
For the majority of people, this is a game-changer. when a person sees a luxurious
property that has everything, like a balcony, deck, living space, amenities, etc. We
think we have it almost done, but since they want to negotiate, it would cost a lot
more than our budget. Therefore, establishing a fixed budget is crucial.
A huge and long-term investment is making a home purchase. Therefore, one must
calculate other expenses, such as car loans, fees or educational loans, monthly
incoming vs. outgoing, unforeseen financial requirements, etc., in order to apply a
cap on the budget.
James would have a clear picture of the kind of budget range and EMI outgoing he
can afford after the financial liabilities have been evaluated.
Actually, take a look at designers' standing and generosity prior to buying the right
property
Land alludes to a hard-auctioning business off late, albeit numerous guidelines were
set up, things have still been in the period of coordinating, land area. Therefore, it is
crucial to conduct in-depth research on the builder's profile and background prior to
purchasing the appropriate property. By looking at the developer's website or surfing
the internet, one can learn a lot about the developer's reputation by looking at the
projects he has completed in the past.
You can even check on the developer's current construction projects, the goodwill it
has among its previous customers, their reviews, and their interactions with him. This
investigation would enable the individual to make an informed and secure investment
by determining the builder's credibility and dependability.
The property's quality of construction: It is essential to check the construction quality
by ensuring the inspection of the strength of the walls, the type of flooring used, the
colour applied, the window frames, and the standard of bathroom fittings, among
other things, before the individual is enticed by the fancy sample apartment and
closes the deal. If a person books a property that hasn't been developed, they should
check online or, if possible, visit other developers' properties that have been built in
recent years. You can learn more by visiting the developer's project, which is nearing
completion, and taking a tour to get a sense of the builder's construction style and
quality.
Neighbourhood and location of the property: Their hearts would melt whenever
James came across a property that met all of their expectations in terms of amenities
and specifications. It might not even be as expensive as it seems, and it would still fit
within the budget. However, one must allow their mind to take precedence over their
heart and rationalize the choice by taking into account a variety of nearby factors,
such as accessibility, road conditions, property location, type of amenities, quality of
construction, infrastructure development, and any other future developments, such
as Metro rail, flyovers, schools, markets, and hospitals in the area.
Conclusion: Additionally, it is essential to verify the delivery date because the
majority of builders provide a grace period of approximately one year to six months.
The builder would be responsible for compensating the buyer until the buyer fulfilled
his promise in the event of possession delay. Likewise, it is critical to check the
proviso of punishment in the event that the EMIs would be deferred under any
condition.
The most valuable asset one would invest in is referred to as a house. The majority
of profits are used to build it. Therefore, it is essential to use the aforementioned
points as a checklist prior to investing. Also, it's important not to be afraid to look into
and compare different properties, especially if they are in the same neighborhood.
James could get a good idea of the right prices and offers by comparing the two
nearby properties. This would allow him to get a good deal while the builder closes
the deal.
2nd Answer
Introduction: The buyer decision process, also known as the consumer decision
process, enables markets to determine how a consumer would proceed from being
aware of a product to making a purchase decision. In order to guarantee sales and
marketing, it is essential to comprehend the buyer's purchase process. The buyer or
the buyer's choice cycle would empower them to set a promoting plan that can
persuade them to buy the item or administration to satisfy the buyer's or issue of the
purchaser.
The Idea and Its Application:
Need Appreciation: It's the first step in making a purchase decision. At this point, the
customer would have identified a need or a problem that needed to be met by a
product on the market.
James wants to buy a new house in a good neighbourhood in this instance. He
wants to buy a house that has a garden, a play area for kids, and security because
he has two kids and a housewife. He can easily purchase a home because he has
advanced professionally.
Mr. James, the buyer, is able to tell the difference between the state he or she is in
now and some desired state.
Therefore, in order to answer some crucial questions, the marketer of luxury homes
or high-end apartments needs to investigate the customer. They are:
What kind of issues or requirements arise?
What is the underlying cause of these requirements or issues?
How did they get the customer or customers to buy a certain product?
The following could be the reasons why people are unhappy with the stock: James
would know he has a problem because he is dissatisfied with his current residence
and his family also needs a larger one.
Changes in the characteristics of the environment:
The individual or a family may recognize a problem when their characteristics
change.
James would move from one stage to another because he has two children, is a
housewife, and is very busy with his job. As a result, he needs a different kind of
house.
Search for Data: The search for information is the second step in the purchase
process. Mr. James enters the stage of information search once the need is
recognized and he desires additional information.
The customer might be paying more attention or actively looking for information. The
strength of a customer's drive, the type of information he would start with, the ease
with which he would obtain additional information, the value he would place on
additional information, and the satisfaction he would get from searching all play a
role in the amount of searching he would do.
Customers or buyers can learn about the products from a variety of sources.
Individual sources: This includes friends, neighbours, acquaintances, and so forth.
Sources commercial: Advertising, salespeople, dealers, displays, etc. are all part of
this.
In this instance, Mr. James would first inquire about the luxury homes and
apartments from his family and friends, and he would also seek assistance from his
professional contacts and friends. The relative influence of such an information
source would vary depending on the product and the buyer, as Mr. James has made
good professional progress. Typically, a commercial source controlled by the
marketer provides the consumer with the most information about a product.
Analyses of Other Options:
The consumer would then move on to alternative evaluation, where the information
is used to evaluate the brands in the selection set.
The third step in the buying process is the evaluation of alternatives. When
evaluating various alternatives and their attractiveness, various points of information
gathered from various sources are used.
A few fundamental ideas would be used to explain the consumer evaluation
procedure:
To begin, it is presumptuous to believe that every consumer would view a product as
a collection of its features. In this scenario, James may be interested in purchasing a
lavish home with features like a garden, play area, good lighting, and effective
security measures.
Buying Decision: The customer must purchase the product at this point in the
buying process. Customers decide whether to purchase the product or services after
weighing their options. James would concentrate on the best luxury home brand in
this scenario, such as Lodha Complex. James was correctly influenced by his
friends, professional colleagues, and other situational factors, which is the primary
reason for this decision.
Unexpected aspects of the situation would constitute the second factor. Based on
factors like the anticipated price and the anticipated benefits of owning a house in
the Lodha Complex (amenities, good lighting, various events and festivals celebrated
throughout the year) 5, the customer may form an intent to purchase. Evaluation
after purchase: The consumer would decide whether to make the purchase at the
end of the process based on their level of satisfaction or dissatisfaction. At this point,
Mr. James would make sure that he knows whether he likes the house or wants to
sell it. As a result, he would proceed with his actions.
Conclusion: As a result, it is possible to draw the conclusion that each of these
phases is crucial to the buying process for a significant purchase such as a house.
Mr. James's purchases would be guaranteed by this procedure.
3rd Answer
3a.
Introduction: When considering whether or not to purchase a new product, a
potential customer would go through a series of stages known as the consumer
adoption process.
The Idea and Its Application:
To put it another way, the sequence of steps a consumer would go through before
actually purchasing or rejecting a new product or service is referred to as the
"adoption process."
First Stage: Product Awareness The customer learns about the product and is
aware of it at this stage, but they lack the technical understanding and knowledge
necessary to make a purchase decision. James will learn about Alexa, a smart
speaker, through an awareness campaign. When he sees the campaign that
Amazon runs on television, he will comprehend the product's fundamental concept.
Second Stage: Interest: The customer is likely to be interested in such a product at
this point. As a result, the term "interest stage" refers to the point at which a
customer would want more information about a new service or product. Now, Mr.
James will learn everything he doesn't know about the product, like how much it
costs, how good it is, what it will be used for, and its technical specifications. He
could inquire of his daughter or browse the internet for this information. He might
also look at Alexa reviews on the internet.
Third Stage: Evaluation: Based on the information at this point, the customer would
decide whether or not to purchase the new product.
Stage 4: Test: Now, when Mr. James evaluates a product based on its price and
features, he is referring to the point at which a customer would buy the product for a
trial period—say, one month. Mr. James would make an Amazon online purchase
with the option to return the item. In essence, the customer would purchase a small
quantity of the product to ensure a positive personal experience.
5th Stage: Adoption: In scenarios where the trial was successful, adoption would
occur. This would occur if the customer was pleased with the product's performance
or outcome. Therefore, Mr. James would adopt a product if he is satisfied with it and
if his daughter is satisfied with it. He wouldn't buy the product if he thought his
daughter was unhappy.
Conclusion: User-centered adoption would be the most effective strategy. When
one defines what activation and adoption mean for different user profiles, they can
help every customer see the value sooner and turn them from occasional users into
regular ones. In order to ensure that the product design, marketing, and strategies
for consumer success are informed, it is essential to make product adoption a
shared objective for all teams and to continue gathering insights.
3b
Introduction: What is positioning a product? A marketing concept known as
"product positioning" refers to a product's reputation and perception among
customers. The goal is to highlight a product's main features, benefits, and other
advantages that set it apart from its rivals and create a memorable image around it.
The Idea and Its Application:
A marketing concept known as "product positioning" refers to a product's reputation
and perception among customers. The objective would be to highlight a product's
main features, benefits, and other advantages that distinguish it from its rivals in
order to create a memorable image.
Apple has carved out a niche for itself in the smartphone market thanks to its
revolutionary new user interface. Apple had altered the business climate thanks to its
strong position in high-end cell phones. It developed a brand-new I-Phone Price
platform: Apple would generally be marketed as a high-end product. Apple's
products typically have higher prices than those of the competition. Apple has
benefited greatly from their position because it has prevented them from engaging in
a price war. Apple is now able to compete on innovation and distinctive value
propositions rather than price. Being in the fiery centre is crucial in this regard. IBM
and Sony both previously held this position of a premium, superior product.
In order to avoid making a mistake, Apple has developed an entirely new platform for
its iPhone and rejected OS X for it.
Using a premium pricing strategy, you could make a lot of money without hurting the
brand. The most valuable asset, greater than all of the technologies it would control,
is the Apple brand.
The company is able to make bold design choices and compel its supply partners to
comply with its design decision by having a volume at this premium pricing.
Product: Apple simply wants to sell the class's best product. Neither performance nor
quality can be compromised. As a result, Apple made numerous manufacturing
errors.
When it comes to determining the product's quality, Apple has taken bold decisions.
a delay in shipment to deliver high-quality goods rather than compromising on quality
to deliver more goods to customers. Apple's focus on quality has allowed it to win
over customers' confidence and trust.
Apple would continue to charge high prices and customers would line up to buy its
products as long as the quality of its products remained the same.
The fact that there are very few variations in each product class is another positive
aspect of Apple's product positioning. The I-Pad is available in either black or white,
reducing the number of options available to customers and making it simpler for
them to make a decision and make a purchase.
A limited selection of models would also be available in its Mac Pro line.
There is no other position: Apple products are one-of-a-kind and cannot be
substituted for. Although a PC could theoretically take the place of a Mac, the user
experience on a PC is vastly superior to that on a Mac. Therefore, a replacement for
a Mac is just another Mac, an iPad is just another iPad, and an iPhone is just an
iPhone.
Branding: Apple is probably one of the most expensive brands in the world because
it has been gaining a solid reputation and brand. Apple would be synonymous with
creativity, design, quality, uniqueness, and other qualities.
Apple would not only harm their own brand but also see a decrease in sales if it
produced products that were not innovative, well-designed, or of the highest quality.
The higher the price, the more relaxed innovation and quality become. From a
business perspective, this is a typical business model because it assures the
customer that he is purchasing an excellent product. A low-cost Apple product would
imply low quality, which would be detrimental to the brand in good times and possibly
more dangerous in the long run than simply attempting to protect the brand during
difficult times.
Conclusion: Every one of the company's products has been marketed as a way of
life item for successful entrepreneurs, wealthy individuals, and professionals. Apple
is now a sought-after product that is difficult to afford. When people are able to afford
Apple products, they don't bargain about the price; instead, the image of having an
Apple product is much more important and this positioning would enable the brand in
the long run, thereby increasing sales by reaching a larger audience over time.