Assignment 1_water - Hanna

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University of New South Wales *

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2051

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Marketing

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Apr 30, 2024

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docx

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Assignment 1. MARK2051 Consumer Behaviour ( 7 point in total ) Name: Hanna Strelert ID number: z-5559397 Please answer all the questions in the space provided (which gives an approximate guideline of how much we expect you to write). Feel free to remove the lines. Q1. Think of the last time you purchased a bottle of water. Think of the standard consumer decision process model to analyse this purchase. Now, please answer the following questions: Q1a ( 2 points ). Using the table below, please summarize your own consideration set (evoked set) and the attributes/criteria that were used for evaluating the alternatives. Rank the attributes in terms of their importance and add any applicable ‘cut-off’ points. List Specific attributes considered Importance of the attribute and any cut-off points Name a specific alternative 1 considered. Then fill in its rating on the corresponding attribute Evian Name a specific alternative 2 considered. Then fill in its rating on the corresponding attribute S. Pellegrino Name a specific alternative 3 considered. Then fill in its rating on the corresponding attribute Coles own brand Price 1 5 5 1 Flavour(citrus etc) or sparkling 4 4 2 4 Bottle shape/ material 3 2 3 3 Quality of water 5 “1” 1 2 Temperature 2 3 4 5 Which of the considered alternatives did you pick eventually? Coles (But a day of luxury I’d pic S. Pellegrino) and if I need a refill bottle (to use again) I’d pic Evian! Q1b ( 2 points ). Which decision rule did you use (name the specific decision-making rule)? Limited Problem solving - Explain how you applied the decision rule to make your final choice. In this case, I did consider a few options and made a decision based on some criteria, but the process is not extensive. Price or brand loyalty play a role here, if it’s ish same

price I take what I use to take, but price is usally top one in water but I don’t think much more on it Q2 ( 3 points ). Assume the information in the table is representative not only to your personal consideration set, but to consumers in the Australian market. Imagine there is a company in Australia seeking to introduce a new brand of bottled water to the Australian market. What attribute would you advise them to emphasize based on your table? Justify your answer (please discuss whether there is a gap in the market or not based on your table, is it feasible, and what would you suggest doing about that). Price: Given that price has the highest importance in my table, it suggests that consumers in the Australian market are highly price-sensitive (if we go as in my table) when it comes to bottled water. Therefore, emphasizing competitive pricing for the new brand would likely be crucial. Temperature (Cold): With a moderate importance level the emphasis on temperature, specifically cold water, may still attract a significant portion of the market. While not the highest priority, it suggests that there is a consumer segment that values the temperature of the water. But probably only when the water is to be consumed strait away, otherwise this attribute is probably last. So maybe the small bottels (the one usually bought for instant use) should make sure to be in the freeeser in the store! Bottle Shape/Material: This attribute has a moderate importance level, consumers might be interested in the design and material of the bottle, indicating that aesthetics and eco-friendly materials could contribute to the brand's appeal but also the ability to use the bottle again with refill water, so maybe have a good lid, (don’t know the name but the one that you just need to pull up to drink – easy access Flavors and sparkling indicates a potential gap in the market, as a brand offering a variety of flavors or sparkling options may capture consumer interest. Altho to many options can make it less attractive, so maybe have still, sparkling, citrus and grapes for example. Quality of Water indicating that consumers are concerned about the source and purity of the water. Emphasizing the high quality and purity of the water source could be a key selling point. Although I would guess based on my own ranking in this area that people don’t put too much effort in actually look up the quality of water, I mean it’s just water.. But the feeling of the water to be fresh, from a cave is the feeling to go for, maybe a nice pic on the water on a mounten like evian makes the consumer feel like it’s “more fresh water” – so this I would say is more about the feeling than the actually “water quality”

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