Marketing value Essay
1. Discuss the adoption process as it relates to a fictitious product of your choosing. Similar though slightly different to the decision-making process, the adoption process involves a consumer’s acceptability of a new product in the market. When a new product such as Pepsi One are introduced to the market, there has to be a level of awareness, evaluation, trial, decision making and confirmation to be made by the consumer.
During introduction to the market, Pepsi One received low adoption due to marketing strategies that did not sell its main benefits (low calorie) and uniqueness (unaltered taste) to the consumers and there were no free samples for the consumers to evaluate and see if they liked the drink and ensure that its taste had not changed from the one they were used to despite it being a diet drink. The consumer low perception of diet drinks’ taste, caused many not to be quick to try the new Pepsi One despite its combination of low calorie and unaltered taste from the Pepsi the consumers fancied.
Change of marketing slogan to ensure a clear message on the benefits of Pepsi One was passed to the target consumer, introduction of free samples for evaluation of
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By placing product images and benefits on the company website or the internet, the producer can ensure that consumers have first hand information on the products, its uses and benefits. This information will then influence the adoption and decision making process of the consumer, though taking note that this would only happen if the consumer actually liked the product. 4. Your best friend owns a small children’s consignment store (clothing store where the store will sell your `used clothing` and will share the proceeds with you) located in the downtown area of a community of 50,000 citizens.
Business has been slow the past year due the construction of several new strip malls and a new Wal-Mart store (Increased competition). She recently discovered you were taking an online marketing class and has asked you for your advice for ideas that will increase her sales. Use the concepts you learned in chapters 1-7 and illustrate their application in your response to your friend. In order to target growth and competitiveness, there are a number of marketing concepts that would be employed in this case. One of these concepts is marketing value to the target consumer and public.
By doing this, the target buyer will identify the uniqueness and added value for their money offered by the products. Planning on the marketing strategy to be employed is yet another concept that would ensure a systematic process of marketing the clothes. This will in turn ensure efficient and effective business flow. By focusing the marketing strategy with segmentation and positioning, there will be assured sales through a target market and positioning would ensure accessibility to the clothes by buyers.
To evaluate opportunities in the changing marketing environment, the seller of the clothes would size up the emerging competition, consumer preference and ensure that the clothes sold at the store target a positive sales market segment and buyer loyalty based on value for money. Demographic dimensions of global consumer markets would also downplay or enhance sales if well considered. The buying behavior of the final, business and organizational consumers would also need to be evaluated to ensure that the clothes being sold target the need and customer preference in order to boost brand loyalty and sales at the store.