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'''High involvement [[product]]''' it is a type of product, which "purchase perceived [[risk]]" is high, and the [[price]] is also high<ref>Porral C.C., Stanton J.L., (2018), p. Chapter 3.4</ref>. Purchase of this product is very important for [[customer]], because of '''"high emotional involvement"'''. In general decision of purchase the high involvement product is very '''long and complex'''<ref>Kumar S.R., (2008), p. 210</ref>. Examples of high involvement products are cars, mobile phones, furnitures, bank accounts<ref>Dahlen M., Lange F., Smith T., (2010), p. 295</ref>. | |||
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==Product involvement== | |||
'''Involvement''' is related with '''"decisions - making process"''' by individual customers. The '''size of involvement''' affects the distinction two [[types of products]]: '''high-involvement products''' and '''low-involvement products'''<ref>Dahlen M., Lange F., Smith T., (2010), p. 295</ref>. When product is buy routinely, consumers before purchase usually know what they want to buy, therefore decision [[process]] is short, and they buy several similar brands, then it is low-involvement product. Whereas, when product is buy rarely, consumers [[need]] more time to think about purchase, and they are search a lot of informations about the products, therefore decision process is extensive and long, then it is high-involvement product<ref>Lamb C. W., (2009), p. 67-68</ref>. The main difference between this two types of products is in [[consumer]] involvement, and in frequency of purchase. | |||
High involvement products differ from low involvement products in several ways. For one, consumers are more likely to spend more time researching and comparing high involvement products before purchase. They are also more likely to seek out advice from family and friends, read reviews, and look for the best deals. Additionally, high involvement products often have a longer life cycle, meaning that consumers may have a more emotional attachment to the product and may be more loyal to the brand. Finally, consumers may have different expectations for high involvement products, such as expecting higher [[quality]], more features, and greater customer service. | |||
''' | ==Example of High involvement product== | ||
* '''Cars''': Consumers will likely spend a great deal of time researching and comparing different models and features, as well as evaluating their budget and [[financing]] [[options]]. They will also likely seek out advice from family and friends, read reviews, and look for the best deals. | |||
* '''Holidays''': Consumers will likely spend a great deal of time researching different destinations, prices, and packages. They will also likely seek out advice from family and friends, read reviews, and look for the best deals. | |||
* '''Computers''': Consumers will likely spend a great deal of time researching different models, components, and features. They will also likely seek out advice from family and friends, read reviews, and look for the best deals. | |||
* '''Wedding Dresses''': Consumers will likely spend a great deal of time researching different styles, fabrics, and prices. They will also likely seek out advice from family and friends, read reviews, and look for the best deals. | |||
In conclusion, high involvement products require a significant amount of consumer consideration and research before purchase. Consumers must weigh the benefits and risks of the product, consider their budget, and gather additional [[information about the product]] before purchase. They are also more likely to seek out advice from family and friends, read reviews, and look for the best deals. Additionally, high involvement products often have a longer life cycle and consumers may have different expectations for them. Examples of high involvement products include cars, holidays, computers, and wedding dresses. | |||
[[File:high_involvement_product.png|400px|right|thumb|Fig.1. High involvement product]] | [[File:high_involvement_product.png|400px|right|thumb|Fig.1. High involvement product]] | ||
==High involvement product characteristics== | ==High involvement product characteristics== | ||
High involvement products are typically used when the purchase is a major decision or commitment, such as when buying a home or a car. Additionally, high involvement products may be used when the purchase is risky, such as when investing in stocks or [[insurance]] policies. They can also be used when the purchase has a large price tag, such as a vacation or a wedding dress. Finally, high involvement products can be used when the product has a complex set of features, such as an electronic device or a software application. | |||
In high involvement products, it is possible to distinguish a several important characteristics<ref>Saxena R., (2005), p. 156</ref>: | In high involvement products, it is possible to distinguish a several important characteristics<ref>Saxena R., (2005), p. 156</ref>: | ||
* | * high price | ||
* | * complex features | ||
* | * large differences between alternatives | ||
* | * high perceived risks | ||
* | * reflect self-concept of buyer | ||
That type of products requires: | That type of products requires: | ||
* differentiation | * differentiation | ||
* brand valuation | * brand valuation | ||
* extensive availability of information (multiple sources) | * extensive availability of [[information]] (multiple sources) | ||
* after sales service | * after sales [[service]] | ||
==Types of High involvement product== | |||
* '''Cars''': Car purchases involve a significant amount of research and consideration. Consumers must consider their budget, the features they need in the car, the safety ratings, and the dealership or seller. | |||
* '''Holidays''': When [[planning]] a holiday, consumers must consider their budget, the destination and attractions, the accommodation, the activities, and the transportation. | |||
* '''Computers''': When selecting a computer, consumers must consider their budget, the processor type, the operating [[system]], the size of the screen, the storage capacity, and the warranty offered. | |||
* '''Wedding Dresses''': When shopping for a wedding dress, consumers must consider the style, the fabric, the [[cost]], the alterations, and the availability. | |||
High involvement products require consumers to take their time researching and comparing before purchase. Consumers must weigh the benefits and risks of the product, consider their budget, and gather additional information about the product before purchase. Additionally, they may seek advice from family and friends, read reviews, and look for the best deals. Ultimately, consumers expect higher quality, more features, and greater customer service from high involvement products. | |||
==Benefits for company== | ==Benefits for company== | ||
Consumer which buy high-involvement product, have in general high expectations related with the [[brand]]. Meet consumer expectations, bring a lots of benefits for a [[company]]<ref>Güse K. S., (2011), p. 129-130</ref>: | Consumer which buy high-involvement product, have in general high expectations related with the [[brand]]. Meet consumer expectations, bring a lots of benefits for a [[company]]<ref>Güse K. S., (2011), p. 129-130</ref>: | ||
* successful future relationship between consumer and brand (company) | * successful future relationship between consumer and brand (company) | ||
* higher | * higher "perceived brand relationship quality" | ||
* higher brand loyalty | * higher brand loyalty | ||
==Marketing of high-involvement products== | ==Marketing of high-involvement products== | ||
High-involvement products need different type of [[marketing]] activities than others products. Mass advertising is a basic type of promotion use for many of products, but for higher-involved products it have a marginal meaning. The most effective in marketing promotion is announcement (advertising) targeted individually '''( | High-involvement products need different type of [[marketing]] activities than others products. Mass advertising is a basic type of promotion use for many of products, but for higher-involved products it have a marginal meaning. The most effective [[in marketing]] promotion is announcement (advertising) targeted individually '''("one-on-one")''', and '''"maintenance options"'''<ref>Blakeman R., (2011), p. 67</ref>. One of the most important thing in promotion which is addressed to target [[market]], should be '''"informative and extensive ads"'''. High-involvement advertising should also gives a lot of informations, which are key for long decision-making process. Apart from that, the message should contain benefits and advantages of using the high-involvement product<ref>Lamb C. W., (2009), p. 68</ref>. | ||
==Advantages of High involvement product== | |||
High involvement products offer several advantages to both consumers and businesses. For consumers, these products offer the potential for higher quality, greater satisfaction, and more features than low involvement products. Additionally, they may provide a greater sense of safety and security, due to the increased research and information gathering that occurs before purchase. | |||
For businesses, high involvement products offer the potential for higher profits, due to the greater level of research, consideration, and commitment that goes into the purchase. Additionally, businesses may benefit from increased [[customer loyalty]], as consumers may be more likely to remain loyal to the brand if they have a positive experience with the product. | |||
Finally, high involvement products may be more conducive to word-of-mouth marketing, as satisfied customers are more likely to recommend the product to others. This can be a valuable source of marketing for businesses, as it is generally more cost-effective than paid advertising. | |||
==Limitations of High involvement product== | |||
High involvement products have several limitations that can make them difficult for consumers to purchase. For one, the cost of the product can be prohibitive for many consumers, especially if they are not prepared to spend a significant amount of [[money]]. Additionally, the complexity of the product can be intimidating for many consumers, especially if they are not familiar with the [[technology]] or features. Furthermore, the risk associated with the purchase can be a major factor in the decision process, as consumers may be hesitant to invest in a product they are unsure of. Finally, consumers may find it difficult to compare different products due to the lack of [[standardization]] among high involvement products. | |||
==Other approaches related to High involvement product== | |||
* '''Advertising''': Advertising for high involvement products must be engaging and informative. Consumers need to be provided with enough information to make an informed decision, so ads for high involvement products should include detailed product information, customer reviews, and other [[relevant information]]. | |||
* '''Word of Mouth''': Word of mouth is an important factor in the purchase decisions of high involvement products. Consumers are more likely to trust the opinions of family and friends when it comes to high involvement products, making word of mouth a powerful tool for marketing. | |||
* '''Price''': Price can be a major factor in the purchase decisions of high involvement products. Consumers may be willing to pay more for a high quality product, but they may also be looking for the best deals. Offering incentives such as discounts or free [[shipping]] can be an effective way to entice consumers to purchase high involvement products. | |||
In conclusion, high involvement products require a significant amount of research and consideration before purchase. Consumers may take more time to research and compare different brands, seek out advice from family and friends, and look for the best deals. Additionally, advertising, word of mouth, and [[pricing strategies]] must be tailored to the [[needs]] of consumers looking to purchase high involvement products. | |||
{{infobox5|list1={{i5link|a=[[Augmented product]]}} — {{i5link|a=[[Consumer markets]]}} — {{i5link|a=[[Buying cycle]]}} — {{i5link|a=[[Prestige products]]}} — {{i5link|a=[[Customer equity]]}} — {{i5link|a=[[Unsought good]]}} — {{i5link|a=[[Post-purchase dissonance]]}} — {{i5link|a=[[Relationship selling]]}} — {{i5link|a=[[Competitive product]]}} }} | |||
==References== | ==References== | ||
Latest revision as of 22:20, 17 November 2023
High involvement product it is a type of product, which "purchase perceived risk" is high, and the price is also high[1]. Purchase of this product is very important for customer, because of "high emotional involvement". In general decision of purchase the high involvement product is very long and complex[2]. Examples of high involvement products are cars, mobile phones, furnitures, bank accounts[3].
Product involvement
Involvement is related with "decisions - making process" by individual customers. The size of involvement affects the distinction two types of products: high-involvement products and low-involvement products[4]. When product is buy routinely, consumers before purchase usually know what they want to buy, therefore decision process is short, and they buy several similar brands, then it is low-involvement product. Whereas, when product is buy rarely, consumers need more time to think about purchase, and they are search a lot of informations about the products, therefore decision process is extensive and long, then it is high-involvement product[5]. The main difference between this two types of products is in consumer involvement, and in frequency of purchase.
High involvement products differ from low involvement products in several ways. For one, consumers are more likely to spend more time researching and comparing high involvement products before purchase. They are also more likely to seek out advice from family and friends, read reviews, and look for the best deals. Additionally, high involvement products often have a longer life cycle, meaning that consumers may have a more emotional attachment to the product and may be more loyal to the brand. Finally, consumers may have different expectations for high involvement products, such as expecting higher quality, more features, and greater customer service.
Example of High involvement product
- Cars: Consumers will likely spend a great deal of time researching and comparing different models and features, as well as evaluating their budget and financing options. They will also likely seek out advice from family and friends, read reviews, and look for the best deals.
- Holidays: Consumers will likely spend a great deal of time researching different destinations, prices, and packages. They will also likely seek out advice from family and friends, read reviews, and look for the best deals.
- Computers: Consumers will likely spend a great deal of time researching different models, components, and features. They will also likely seek out advice from family and friends, read reviews, and look for the best deals.
- Wedding Dresses: Consumers will likely spend a great deal of time researching different styles, fabrics, and prices. They will also likely seek out advice from family and friends, read reviews, and look for the best deals.
In conclusion, high involvement products require a significant amount of consumer consideration and research before purchase. Consumers must weigh the benefits and risks of the product, consider their budget, and gather additional information about the product before purchase. They are also more likely to seek out advice from family and friends, read reviews, and look for the best deals. Additionally, high involvement products often have a longer life cycle and consumers may have different expectations for them. Examples of high involvement products include cars, holidays, computers, and wedding dresses.
High involvement product characteristics
High involvement products are typically used when the purchase is a major decision or commitment, such as when buying a home or a car. Additionally, high involvement products may be used when the purchase is risky, such as when investing in stocks or insurance policies. They can also be used when the purchase has a large price tag, such as a vacation or a wedding dress. Finally, high involvement products can be used when the product has a complex set of features, such as an electronic device or a software application.
In high involvement products, it is possible to distinguish a several important characteristics[6]:
- high price
- complex features
- large differences between alternatives
- high perceived risks
- reflect self-concept of buyer
That type of products requires:
- differentiation
- brand valuation
- extensive availability of information (multiple sources)
- after sales service
Types of High involvement product
- Cars: Car purchases involve a significant amount of research and consideration. Consumers must consider their budget, the features they need in the car, the safety ratings, and the dealership or seller.
- Holidays: When planning a holiday, consumers must consider their budget, the destination and attractions, the accommodation, the activities, and the transportation.
- Computers: When selecting a computer, consumers must consider their budget, the processor type, the operating system, the size of the screen, the storage capacity, and the warranty offered.
- Wedding Dresses: When shopping for a wedding dress, consumers must consider the style, the fabric, the cost, the alterations, and the availability.
High involvement products require consumers to take their time researching and comparing before purchase. Consumers must weigh the benefits and risks of the product, consider their budget, and gather additional information about the product before purchase. Additionally, they may seek advice from family and friends, read reviews, and look for the best deals. Ultimately, consumers expect higher quality, more features, and greater customer service from high involvement products.
Benefits for company
Consumer which buy high-involvement product, have in general high expectations related with the brand. Meet consumer expectations, bring a lots of benefits for a company[7]:
- successful future relationship between consumer and brand (company)
- higher "perceived brand relationship quality"
- higher brand loyalty
Marketing of high-involvement products
High-involvement products need different type of marketing activities than others products. Mass advertising is a basic type of promotion use for many of products, but for higher-involved products it have a marginal meaning. The most effective in marketing promotion is announcement (advertising) targeted individually ("one-on-one"), and "maintenance options"[8]. One of the most important thing in promotion which is addressed to target market, should be "informative and extensive ads". High-involvement advertising should also gives a lot of informations, which are key for long decision-making process. Apart from that, the message should contain benefits and advantages of using the high-involvement product[9].
Advantages of High involvement product
High involvement products offer several advantages to both consumers and businesses. For consumers, these products offer the potential for higher quality, greater satisfaction, and more features than low involvement products. Additionally, they may provide a greater sense of safety and security, due to the increased research and information gathering that occurs before purchase.
For businesses, high involvement products offer the potential for higher profits, due to the greater level of research, consideration, and commitment that goes into the purchase. Additionally, businesses may benefit from increased customer loyalty, as consumers may be more likely to remain loyal to the brand if they have a positive experience with the product.
Finally, high involvement products may be more conducive to word-of-mouth marketing, as satisfied customers are more likely to recommend the product to others. This can be a valuable source of marketing for businesses, as it is generally more cost-effective than paid advertising.
Limitations of High involvement product
High involvement products have several limitations that can make them difficult for consumers to purchase. For one, the cost of the product can be prohibitive for many consumers, especially if they are not prepared to spend a significant amount of money. Additionally, the complexity of the product can be intimidating for many consumers, especially if they are not familiar with the technology or features. Furthermore, the risk associated with the purchase can be a major factor in the decision process, as consumers may be hesitant to invest in a product they are unsure of. Finally, consumers may find it difficult to compare different products due to the lack of standardization among high involvement products.
- Advertising: Advertising for high involvement products must be engaging and informative. Consumers need to be provided with enough information to make an informed decision, so ads for high involvement products should include detailed product information, customer reviews, and other relevant information.
- Word of Mouth: Word of mouth is an important factor in the purchase decisions of high involvement products. Consumers are more likely to trust the opinions of family and friends when it comes to high involvement products, making word of mouth a powerful tool for marketing.
- Price: Price can be a major factor in the purchase decisions of high involvement products. Consumers may be willing to pay more for a high quality product, but they may also be looking for the best deals. Offering incentives such as discounts or free shipping can be an effective way to entice consumers to purchase high involvement products.
In conclusion, high involvement products require a significant amount of research and consideration before purchase. Consumers may take more time to research and compare different brands, seek out advice from family and friends, and look for the best deals. Additionally, advertising, word of mouth, and pricing strategies must be tailored to the needs of consumers looking to purchase high involvement products.
| High involvement product — recommended articles |
| Augmented product — Consumer markets — Buying cycle — Prestige products — Customer equity — Unsought good — Post-purchase dissonance — Relationship selling — Competitive product |
References
- ↑ Porral C.C., Stanton J.L., (2018), p. Chapter 3.4
- ↑ Kumar S.R., (2008), p. 210
- ↑ Dahlen M., Lange F., Smith T., (2010), p. 295
- ↑ Dahlen M., Lange F., Smith T., (2010), p. 295
- ↑ Lamb C. W., (2009), p. 67-68
- ↑ Saxena R., (2005), p. 156
- ↑ Güse K. S., (2011), p. 129-130
- ↑ Blakeman R., (2011), p. 67
- ↑ Lamb C. W., (2009), p. 68
Footnotes
- Blakeman R., (2011), Strategic Uses of Alternative Media: Just the Essentials, ME Sharpe
- Dahlen M., Lange F., Smith T., (2010), Marketing Communications: A Brand Narrative Approach, John Wiley & Sons
- Güse K. S., (2011), Brand Personalities and Consumer-brand Relationship as Elements of Successful Brand Management, University of Bamberg Press
- Kumar S.R., (2008), Issues in Consumer Behaviour The Indian Context, Pearson Education India
- Lamb C. W., (2009), MKTG,Cengage Learning
- Porral C.C., Stanton J.L., (2018), Principles of Marketing, ESIC
- Saxena R., (2005), Marketing Management, Tata McGraw-Hill Education
Author: Kinga Dudek
