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Essay / Research Paper Abstract
This 5 page paper considers how buyers make their purchase choices and what influences that choice. The writers compared the purchase of a holiday and of insurance to demonstrate the difference that may be present. The bibliography cites 8 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEbuyer1.rtf
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Unformatted sample text from the term paper:
to attract the target market and then influence the buying decision. If we consider two different buying situations then we will be able to compare the different aspects of marketing
and how marketers try to influence that decision in their own favour. Here we will two products; a holiday and insurance. The first aspect is to consider the target
markets and how these may differ considering how issues such as age, genders and social class. In both of these products there is an increase market segmentation and as such
we can divide these down. For example, a holiday may be a cheap package holiday where teenagers are looking at partying, family holidays where there is a need for facilities
for children, or even luxury long haul holidays to the Far East with many added extras. Insurance may also have a wide
range of markets; the basic levels may appeal to the younger purchasers may be looking at more basic insurance that servers a basic need, that has a higher reliance on
cost, whereas insurance for boats, life or critical illnesses is likely to be aimed at those with a higher disposable income and often with a higher age. However, there
are some trends we can gather even at this level. The choice of a holiday is one of a high level of involvement, the role of features may be seen
to play a more important role. This is a segment where there is high levels of competition and as a result there are also high levels of differentiation. The role
of holidays as a desire and a want rather than a need may also indicate that the elasticity of the product is one that indicates a high level of price
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