Map out how you think your potential customer goes about mak

Map out how you think your potential customer goes about making his or her purchase decision for the product/service your venture will market. What are the key internal influences (e.g., motivation) and external influences (e.g., personal influences) that affect their decision to buy? Now pinpoint how you might be able to influence their decision with your marketing program.

Now, identify your two to three most direct competitors and list their key behaviors. What can you conclude about how you might best compete against these players?

Solution

1) The internal influences is to buy the product depends on cost effectiveness, speed, durability and strength of the product, the reviews provided on the online store also helps the buyers to look out for the particular product in the market.

The external influences mainly occurs when buying the brand name like Apple over a company\'s product which has come recently in the market the company trust which is there when the products used by your friends/relative circles will lead to change your mind for buying at it even at higher rates

The best way to influence their decision is using the brand endorsements, selling cheaper and good products in compared to the renowned brands in order to increase the market share( it can be done by keeping less profit in the initial stages) in order to grow and expand your company

If you are entering into mobile world

1) Apple

2) Samsung

3) Xiaomi and Google

These are the top companies selling mobile phones in the market, in order to compete with these players make a varied range of smartphones at cheaper price to attract the potential buyers