Literature review on Consumer Choice Essay Example | Topics and Well Written Essays - 1000 words

Literature review on Consumer Choice - Essay Example The aim is to explore additional alternatives or wait. Whether mundane or not, these choices describe and shape lives. The author asks hard questions on how to choose. The author researches on whether the desire is inborn or developed. According to this literature review, the decisions we make have enormous consequences. According to B. Schwartz, too many choices end up confusing consumers. This also makes them feel have no satisfaction. Consumers have the ability to make little to choose when they have too many choices. Many choices are likely to add the quality of decisions Professor R. Iyengars research investigates how consumers respond to non-linear pricing programs. He looks at how quality of services affects the ability of a consumer to make decisions. He found that both quality and quantity matter when it comes to decision making. Most first service encounters look for quality. They are, therefore, critical. Too many choices become a problem to the consumer. Currently, people think many choices lead to quality choices. Many choices give a satisfaction to consumers and how the marginal utility affects consumer choices. Human desires are infinite and hard to manage according to this source. Confusing and overwhelming amounts of information could have a negative impact on the ability of consumers to purchase. Limited choices cause consumers to feel dissatisfied with the choices they make. Choice overload has the potential of causing consumers to choose choices they cannot handle. Manufacturers are considering streamlining the number of options they present to consumers The degree of difficulty of picking the best option from many options influences consumer purchase deferral. It is clear that consumer purchases are the outcome of two decisions i.e. to buy or not to buy. This is coupled with a selection decision. Consumer equilibrium is achieved when consumer purchases the combination that the highest

Marketing Plan Essay Example | Topics and Well Written Essays - 500 words - 5

Marketing Plan - Essay Example has more distinctive products than McDonalds; it has fewer items on the menu, as it focuses more on individual products. It should be highlighted that McDonalds also use traditional print, electronic and radio media followed by internet and new media for publicity and promotion. The company also initiated a promotional campaign named â€Å"I’m Lovin’ it†, sponsored Olympic athletes, host charitable events, Social media etc. to entice maximum customers towards its stores. KFC (Kentucky Fried Chicken) is an American international food seller that has established more than 15,000 KFC outlets across 109 countries and territories around the world. Indeed, the business serves an estimated 12 million customers each day at its stores. The business is an important competitor of Carl’s Jr. because it offers various similar products. The company has an advertising budget of over $1 billion and sales revenue of $11 billion in 2009 that shows its financial strength and brand acceptance among fast food lovers. In addition, KFC also utilizes all traditional and social media channels. KFC focuses on Product and Market Development through induction of new recipes and food products (such as fiery wings) in its portfolio. Indeed, it launched promotional campaigns including free vouchers, Family Feast Combo, free gifts, KFC buckets, KFC cricket promotion etc. to tempt customers towards its stores. (KFC.com) Hungry Jack is a subsidiary of Burger King Incorporation and it is operational in Australia since 1971. The company has strong brand recognition and establishment in Australia with over 300 stores in 2010. The franchise is unique in a way that it offers a complete range of breakfast, hamburgers, chicken meals, desserts, drinks, sides / salad and kids’ meals to its valued customers. Indeed, the company advertises heavily on electronic media to lure food freaks. Indeed, Hungry Jacks advertises heavily on electronic media for sales promotion campaigns. In addition, the