Coursework Example: Performance and Post-Purchase Evaluations

Performance evaluation is the determination of how a product is designed to meet the expectation of consumers. The products are evaluated so that the producing company can make necessary adjustments. In reality, the modifications are made about quality and price charged so that it can compete with other products favorable in the market (Ferrell, 2016). On the other hand, post-purchase evaluation is the response that consumers give towards a product after they have purchased. It makes the company as well to make necessary improvements on the product (Zhu, 2014).

Generic products are products that are sold using the name of the good rather than its brand name. For instance, most drugs are generic products; consumers will purchase them at once without thinking twice on such issues like the taste (Wedel & Kamakura, 2014). While on the other hand, a brand product is products that are sold to consumers using the specific brand name. Different brands are designed in such a way that it gives a different product its unique identity in the market. The products compete stiffly for prices and controlling of the market share. Example of brand products is evident in the phone industry made of many brands, for instance, Samsung, Blackberry, iPhone among many. The generic products, in this case, will be mobile phone products such as a battery, while brand products will be a mobile phone. Notably, consumer choices are made mostly in brand products because of variation and specific features attached to them. Consumers make little decision on generic products (Lamb, Hair & McDaniel, 2012).

Ferrell (2016) notes the effects of a brand product after post-purchase is so broad and significant to the manufacturing company. The level of satisfaction that mobile phone gives to a consumer is so important. The product should meet the requirements of the consumer. This customer satisfaction will make a customer to exercise a repeat purchase of a particular brand of a mobile phone. If the mobile phone purchased by a consumer does not meet the consumer expectations, brand switching will be noticed. The consumers will prefer moving to other brands of mobile phone.

For instance, in case a consumer bought a Samsung phone to meet his expectation such as internet access, long battery life among others. However, in case the phone does not meet any of the following hope, the consumer will switch his preference next time to a different brand of phone. However, when the customer is satisfied with the product, a repeat purchase may be noticed in future. Moreover, the consumer can as well refer others to purchase a particular brand of mobile phone. It will make a specific name of mobile phone to control a more significant market share in the mobile industry (Klyatis, 2016).

Performance evaluation and post-purchase evaluation can be performed can be done by both the organization and the consumer. According to Zhu (2014), organizations can conduct both the assessment by conducting questionnaires and interviews to their customers. When customers give their response, the organization producing the particular brand of a product will make necessary improvements in order not to be faced out in the industry. On the other hand, the consumer can evaluate the performance of the mobile phone they have purchased by monitoring the product performance as they continue using the product (Wedel & Kamakura, 2014).

The products brand should be designed in such a way that it is simple to use by the consumer, It is tolerant of errors that can be committed by consumers and provides an equitable use to consumers. Mobile phones brands have experienced a more significant percentage of the brand switch due to more and more emerging improved new brand with new features. It has created a need for improvement on the existing brands.

The product itself defines generic products (Zhu, 2014). They are cheaper any people always purchase this product because of saving purposes. Over the counter drugs, medicine is a good example of the generic product. In case of the existence of a generic product for a particular brand of mobile phone, I will prefer it to a brand product because of the lower prices of the generic product. Although generic phone may be hectic to find, parts of a form of the battery are always produced in generic forms, and they are not always expensive.

Benefit Segments

Market segmentation, the market for both products have large segments. The importance of this is to simplify the purchase to various consumers who need a different type of products (Ferrel, 2016). The market can be segmented according to price. For instance, those consumers having low income may be segmented largely based on generic products which are cheaper to the consumers. On the other hand, regional segmentation with individuals having high income and preference to different brands may be segmented according to the brand. It is because these brands of mobile phones are more expensive as compared to the generic parts of the mobile phone.

Additionally, segmentation will increase competitiveness among brands and hence will lead to better-improved quality of different mobile phone brands. Costumers loyal to a particular brand of a product will make a company realize a more significant percentage of customer retention. And lastly, better communication will be enhanced between consumers and producers (Wedel & Kamakura, 2014). I would purchase a mobile phone brand again, if it meets my needs, and would prefer to repurchase generic brands of the mobile phone in case of any obsolesce. It is because it will enable me to save much money.

References

Ferrell, O. C. (2016). Marketing strategy. S.l.: Cengage Learning

Klyatis, L. M. (2016). Successful prediction of product performance: Quality, reliability, durability, safety, maintainability, life-cycle cost, profit, and other components.

Lamb, C. W., Hair, J. F., & McDaniel, C. D. (2012). Essentials of marketing. Mason, Ohio: South-Western Cengage Learning.

Wedel, M., & Kamakura, W. A. (2014). Market Segmentation: Conceptual and Methodological Foundations. Boston, MA: Springer US.

Zhu, J. (2014). Quantitative models for performance evaluation and benchmarking: Data envelopment analysis with spreadsheets

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