This document summarizes a marketing research project comparing how males and females make high-value purchase decisions as couples. Interviews were conducted with 4 Bangladeshi couples of different ages to understand their decision-making process when purchasing their largest asset, typically a home. The results found that both genders generally had practical motivations but that males tended to recognize the need for purchase while females set criteria. Both genders provided input but females more often made the final purchase decision. The study aimed to understand gender influences despite limitations but provided useful insights for future consumer research.
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This document summarizes a marketing research project comparing how males and females make high-value purchase decisions as couples. Interviews were conducted with 4 Bangladeshi couples of different ages to understand their decision-making process when purchasing their largest asset, typically a home. The results found that both genders generally had practical motivations but that males tended to recognize the need for purchase while females set criteria. Both genders provided input but females more often made the final purchase decision. The study aimed to understand gender influences despite limitations but provided useful insights for future consumer research.
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Assalamualaikum
Hello Sir, I am Farhan from you BUS 620 Marketing
Management Course and this is my video presentation to accompany our Term Paper project that we already submitted to you earlier.
For the term paper, we were asked to find out
whether a male and a female have different process or steps when making a high value/high involvement purchase as a couple. We were asked to see if any interesting comparison comes up between the two genders.
This kind of study is one of the most important
research in today’s market to determine consumer behavior of the population, which in turn drives a company to make informed decisions to increase profits. For this study, at first, we set up a structure to move forward. We created our methodology which helped us to conduct this research and to find out if we had any lackings. At first, we set our objective clearly which was To understand the importance of gender roles in a purchase decision making To observe the role of gender in each step of purchase decision of a high-involvement product. To verify the studied literature for gender-role in each purchase with real-life interviews conducted. To extract the deep-rooted cause of wanting a high involvement product. To extract how much functional and how much emotional aspects of needs are Etc. Our objectives are written down in more details in our term paper, which I am sure you already read.
After setting our objective, we revied literature for
similar studies that were conducted in a broader way.
This kind of research has been going on for many
years. Finding out consumer is key for any business and studies were also done to find behavior trends between the two genders in various countries around the world and in various ways.
We did quite a lot of literature review for this
project, extracting information from various published and unpublished papers. Almost all the papers came to a conclusion that both fame and female underwent different thinking and behavior from each other while making a decision for purchasing. They each had different factors, reasons and necessities to make that particular decision.
To discuss a few of the literature, in 2010,
Plabdaeng concluded although husband and wives have different intentions of buying a product, they mostly make joint decisions when purchasing them. A study by Ling and Yazdanifard in 2014 found out that for online purchases, males evaluate purchases based on simplicity and easiness of buying whereas females evaluate each purchase on more of an emotional behavior.
Other literature reviews are discussed in our report,
and all these literatures had one thing in common that a male and a female, a husband and a wife, approach the 5 steps of purchase decision differently from one another. To test out what we obtained in our literature review, we practically conducted interviews with married couples to find out their approach to a purchase.
We prepared a questionnaire to give us a basic
guide to conduct the interview but the questions were altered dynamically according to the responses of the interviewee. The interviews are taken separately for each individual and their answers transcribed.
We were after obtaining qualitative results and
analysis as we lacked the tools and time to go for a more sophisticated quantitative approach.
We selected 4 Bangladeshi couples with half of the
couples being relatively newly married and the other half being more experienced. We selected in such a way so that we can catch, if any, difference between the thought processes of a new and an experienced couple.
We used the answers of the questionnaire to
determine the gender domination, if any, on each step of a purchase and compare the results afterward.
Our team consisted of four members and we each
conducted our own sets of interviews.
The couple I interviewed was an experienced couple
with them married for almost 27 years. The male was a Master Mariner aged, 61 and the female a home maker aged 48.
Both of them were asked what their biggest
purchase was after marriage a married couple, and both of them answered their first flat apartment. The male is a mariner, so had to live apart from family at sea for months at a time. When asked about why he decided to make the purchase, his answer leaned towards a more practical reason that is to have a home that was close to his son’s school and coaching as they were living very far from them. The female’s answer was quite practical as well. She stated their need to invest in real estate as well as having a home close to the city’s city center. She thought she had to come to that part of the city everyday to bring her son to his studies as well as other necessities such as shopping. So she saw it as a good opportunity to purchase a house there.
Prior to the purchasing of the flat, both of them had
little to no knowledge on how to purchase and had had external help from people around them to help them navigate. They did went to a couple of other developers before but none of them had attractive products for them. However, since they were very new to this, they did not compare and eliminate their choices based on advanced thought process. Rather, they arrived to their choice by the process of auto elimination of undesirable choices.
When buying the flat, the couple did not have to
under go much persuasion of each other, however, it was the male who was the dominant gender when making the decision on booking the purchase. Both of them found good logic behind the need of purchase. The female thought it was close to all of her needs including her son’s as the everyday journey was very tiresome. The male also found the logic that his family should be close to their needs for the same reason and so that he could have a peace of mind thinking his family is safe and healthy as he had to live in the sea for many months at a time.
Both of them stated that they faced little to no
obstacle to purchase the flat and the people around them were generally supportive of their choice. After the purchase, they were very satisfied with it as it met all their needs and they received what was promised. They were also very glad in find out that the value of their property increased by a lot right after their purchase and is ever increasing. So they got a huge financial benefit as well.
They maintain their flat activities through the
committee that was created by the owner’s association in the building and now are renting the flat.
After talking to them, I found out that both of them
had equal input on the decision-making process for the purchase of the flat. The male dominated in recognizing the need of the flat, as the female never had a intention to purchase. The criteria that they cam up with for a good purchase was set by the female as it will be mainly her who would be the user of the benefits. They both had equal say on which flat to purchase in both financially and location as they navigated to the few alternatives they went through. Finally, they decided on the purchase together by mutual consultation with no one dominating over the other, and both them are now happy with the purchase as they see it as an investment for their future as well as an investment for their son in the future.
It was quite apparent that, both of them had very
practical means for the making the decision for the purchase and both of them had their son in their mind heavily. When comparing their data with the other couples we interviewed, the results were quite interesting.
The need recognition step was dominated by the
male, with both the genders being mostly functional in their approach. The criteria for purchase were also dominated by the male in contrast to my couple and it was found that females mostly left the criteria to their male counterpart unlike my couple
Both of the genders had equal input on deciding
from the alternatives.
However, the purchase is generally dominated by
the female indicating males mostly left the decision of the purchase to their better halves on whether to make the purchase or not. And for their post purchase disposal is also dominated by the female as they became more emotionally attached to their purchase and they decide on what to do with the product.
All the information I overviewed are a summary of
what we found out through this study, however whether it is very accurate or not can be debatable as there were quite a few limitations to our study such as a very small sample size, interview restrictions due to COVID etc.
However, we believe in this study and that this kind
of study is very important for the market and businesses, most of the studies conducted were on the consumer behavior of a general demographic. There were very little paper on the difference in gender influence of purchase for a married couple. We believe this would help any further future studies on this topic, and if made in a larger scale could almost certainly help business to know their audience and demographic more clearly which in turn would only drive profits. To conclude, our little study aimed at unveiling the factors that motivates certain behavior for each gender. We hope we achieved that goal in spite of all the constraints we had to face. I can only hope that you found our study useful and good enough and this presentation to be well versed. This has been Farhan, and I thank you for listening till the end. Thank You and Assalamualaikum.