BUS 5112 - Marketing Management-Portfolio Activity Unit 2
BUS 5112 - Marketing Management-Portfolio Activity Unit 2
BUS 5112 - Marketing Management-Portfolio Activity Unit 2
9 September - 15 September
1. Read the article: “Exploring Factors That Influence Consumer Loyalty to Automobile
Dealerships in New York.” and then perform the following:
2. Using what you have learned from the course materials and other sources in Unit 1 and in
Unit 2, consider your own behavior as a buyer. Think about the kinds of things that move you
to make purchases, both large and small, and then answer the following:
• Formulate at least one question that arose while you were reading the material and
completing the assignments.
• Was there anything in this Unit that surprised you or caught your attention? Explain.
For assistance with reflective writing, read How to Write a Reflective Paper.
The Portfolio Assignment entry should be a minimum of 500 words and not more than 750
words. Use APA citations and references if you use ideas from the readings or other sources.
This assignment is graded by the instructor.
Introduction
The cost of acquiring new consumers is higher than the cost of keeping current
clients. For example, gaining new customers can cost up to five times as much as keeping
existing ones, while repeat customers can yield more than twice as much gross revenue as
new ones (Cunningham, Il-Yeol, Song, & Chen, 2006). Therefore, the business must explore
factors that influence customer loyalty and devise strategies to foster lasting customer
According to O. Akaeze & Shaibu Akaeze (2017), four major categories that
quality, service quality and price and reward strategy. Some customer retention strategies are
as follows:
1. Create a customer service team that will focus on first-time buyers and
existing customers; this will ensure that the existing buyers have a dedicated
team to go through should they have questions. Also, this will allow the team
to bond with the customer fostering a more profound relationship that can
serve as an opportunity to offer new sales should the need arise or a referral
2. Optimize product quality per customer's desire. Personal factors can indicate a
and lifestyle.
3. Improve service quality by catering to the specific demands of customers. The
customer's happiness will rise due to the personalised service that may answer
noted during the first transaction and followed up on after-sales support. This
method can help avoid the customer attrition rate after the first transaction.
entitle the customer to discounts and rebates for continued patronage, referral
According to Kotler & Keller (2012, p. 161), the buying decision has six steps:
post-purchase behaviour. Before making a final selection, the first three must be completed.
First and foremost, the buyer must believe that they have a requirement. After
establishing the need, the customer seeks a product or service to meet or solve the problem.
Next, when the buyer has found what they are looking for, they begin comparing products
based on quality, pricing, and durability. Finally, they have all the data regarding the goods
and are confident that it meets their needs when making a buying decision.
Buying Motivation
There are a ton of factors that influence consumer buying behaviour. The list runs
from situational factors, time, reason for the purchase, mood, personality and self-Concept,
lifestyle, motivation, perception, learning, attitude, culture, social class, reference groups and
The author, on the other hand, shops for necessities. The author subscribes to the idea
that less is more and adapt a minimalist lifestyle; however, she is no stranger to peer pressure
resulting from buying on impulse, such as always following a trend on having the latest
iPhone. Impulse buying can be averted if the buyer does not give in to peer pressure and cater
To summarize, gathering facts before purchasing a product or service and doing the
necessary buyer purchasing procedures is critical. Additionally, having a solid sense of self
and a support group that satisfy the need for love and affection will prevent the rest of the
millennial buyers out there to dive into unnecessary expense to feel acceptance and approval.
Reflection
While reading the material, one cannot help to wonder, does customer satisfaction
Considering the evidence presented by the paper presented by O. Akaeze & Shaibu
Akaeze (2017), the reality that customer satisfaction alone can no longer guarantee for a
activities and ensuring the fulfilment of customers desires will equate to profit and revenue.
However, in light of the new evidence shared, customer satisfaction appears to be not
enough. Businesses must be able to secure customer loyalty to secure continuous patronage.
Thus, organisations must explore factors that influence customer loyalty and devise strategies
Akaeze, C. O., & Akaeze, N. A. S. (2017). Exploring factors that influence consumer loyalty
to automobile dealerships in New York. Journal of Business Theory and Practice, 5(2), 98-
119.
Barak, B., & Gould, S. (1985). Alternative age measures: A research agenda. ACR North
American Advances.
Cunningham, C., Song, I. Y., & Chen, P. P. (2006). Data warehouse design to support
customer relationship management analysis. Journal of Database Management (JDM), 17(2),
62-84.
Gaumer, C. J., & LaFief, W. C. (2005). Social facilitation: affect and application in consumer
buying situations. Journal of Food Products Marketing, 11(1), 75-82.
Kani, J. (2015). Factors That Influence Consumers’ Buying Behavior. The Marketing OER
ToolKit.
Kotler, P., Keller, K. L., Manceau, D., & Dubois, B. (2016). Marketing Management, 15e
édition. New Jersy: Pearson Education.