1. How can marketeers use technology to target customers to exercise more. Taking Yoga as an example of holistic exercise how will you use technology to target different categories of customers to improve their health by doing yoga regularly.
2. What is the Trio of Needs from consumer behaviour perspective? Take Smart Watch as a product. If you have to use this same product, how can you talk to three different customers and make the 3 different customers think of buying the same Smart Watch from a Trio of Needs perspective. Please use one Trio of Need per customer to illustrate the same.
3. Answer the following
a. What is Just Noticeable Difference [JND] and Weber’s Law?
b. Take a product like a low-cost pressure cooker [priced at Rs. 1800.00 for a 3 Litre, Rs. 2400.00 for a 5 Litre, Rs. 3200.00 for a 6.5 Litre pressure cooker] which is targeted to the lower income group whose annual income is in the range of Rs. 1.2 to 1.8 lakhs per annum [Rs. 10,000 – Rs. 15,000 per month]. Using the principle of JND suggest a discount for families earning 10,000 per month and families earning Rs. 15000.00, that would make them get up and notice the discount & propel them to buy the pressure cooker. Please justify the discount for the same.
NMIMS Solutions December 2022
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