Marketing fundamentals and strategic applications

¶ … leaders are individuals with great authority in their field of expertise that masses trust in. These leaders usually have inside information in their business field that most people don't have access to and can offer a pertinent analysis of different situations. Opinion leaders can set trends and can significantly influence masses' beliefs and behaviors.

Marketers use opinion leaders overtly and covertly. Overtly means companies associate themselves with opinion leaders that become companies' and brands' image in order to influence the purchasing behavior and to take advantage of the leader's fans. An example of this type of strategy is when celebrities become spokespersons for different companies, or become their image or ambassador. Covertly means that companies pay opinion leaders to influence masses' behavior through different activities, usually media, but not making the relationship between the company and the opinion leader public (Mattison, 2011). This adds credibility to what the leader is trying to influence on people.

2. The types of buying decision behavior are: complex, dissonance reducing, habitual, and variety seeking buying behavior. The complex behavior takes place when consumer is involved during the purchasing process and is able to identify differences between brands. I had complex buying behavior when shopping for a smartphone and I noticed and compared numerous different features between different brands. In the dissonance reducing behavior consumer involvement is significant (Can't et al., 2009). This is the case of highly priced products that are seldom purchased, and with less significant differences between brands. I observed this behavior when looking to get an expensive hairstyle for a special occasion and most salons had the same offer. So I chose one, but after achieving the hairstyle I did not think I made the best purchasing decision.

Habitual buying behavior is characterized by low consumer involvement and reduced differences between brands, usually regarding low priced products. There is no rand loyalty in such cases, and consumers do not require product information. In my case, it's when purchasing printing paper or regular pens. The variety seeking buying behavior is characterized by low consumer involvement and significant differences between brands. In such cases, consumers choose different brands so that they experience the differences. I usually have this buying behavior when purchasing milk cereals.

3. The roles played by buying center participants in the business buying process are users, influencers, buyers, deciders, and gatekeepers (Pride & Ferrell, 2010). Users are the category that uses the product, initiate the purchasing process, and evaluate product performance. Influencers are technical employees that help develop specs and that evaluate other products. Deciders select the products. Buyers select suppliers and focus on the negotiation process. Gatekeepers control the information flow of the buying center and directly communicate with sellers.

4. Some of the cash flow advantages of air freight refer to increasing capital, issuing dividends to shareholders, pay salaries, benefits, and payroll taxes to employees. Basically, cash flow ensures the airline company can develop its activity within the required standards.

Part 2

1. The two types are the following: primary -- Striver, secondary -- Experiencer.

2. The Striver is trendy and fun loving, and is motivated by achievement. Strivers are interested in others' opinion and approval, and want money and material wealth. The Experiencer is motivated by self-expression, and is interested in variety and excitement. For Experiencers important issues are represented by fashion, entertainment, and socializing.

3. I do not think the VALS scheme correctly reflects my orientations. I think the evaluation is superficial and has little to do with my real orientation. I consider that the scheme is not in accordance with individuals' personality.