Please answer the following questions directly. BE ORIGINAL 1. Studying how cons
ID: 390707 • Letter: P
Question
Please answer the following questions directly.
BE ORIGINAL
1. Studying how consumers shop, how they use a particular product or service, and how they dispose of the product when consumed is important for marketers. This information forms the basis of product strategy. Define the consumption system and identify the two upcoming product strategies that are affected by this knowledge.
2. As the newest member of the marketing department, your immediate boss asks you to comment on the company’s proposal to add two new shoes to the company’s middle-of-the-road pricing and product-line strategies. The first pair will retail for $ 40.00 and has as its target market the “bargain” shopper. The second pair will retail for $ 200.00 and is targeted at the “sophisticated shopper.” In relation to product-line strategy, what is the company trying to accomplish with these two new items?
3. Your research shows that over 53% of all purchases are made on impulse. As you sit down with your packaging design team, you tell them that the package must communicate many of the sales tasks. List the sales tasks that packaging must now incorporate due to the increase in self-service sales.
4. Bryson’s is a mid-sized hotel chain that is entering a competitive market. The chain needs to differentiate its service from that of competitors, positioning itself as a hotel with excellent service at an affordable price. However, the intangible nature of services makes this difficult to demonstrate. How can Bryson’s convey its message effectively to prospective guests using marketing tool of place?
5. Fingerpainted organizes art camps and craft activities for children. The company has noticed that demand is highest during summer vacations and drops during the year. What can Fingerpainted do to attract customers at other times of year?
Explanation / Answer
1. Consumption pattern of a perishable dairy product needs to be be evaluated on the quantity, frequency and mode of consumption to make important decision on its package size. package nature and mode of transportation and storage. Another such item is battery of cellphones, which needs to be studied for its mean life, customer awareness and legal obligations regarding its disposal, replacement availability etc.and accordingly made available after analysis of sales data, degree of redundancy of the product and customer preferences to ensure availability of optimum numbers in the market.
2. The company is trying to cash on the unique features of a niche item ( $200) that wil appeal to the sophisticated consumer, who will be able to pay a premium for it. With the mass market item ( $40) it is trying to attract the common price sensitive buyer who always looks for a value for money item for a lower price. The company aims to earn through a low volume high margin strategy from the first item whereas from second it wants to earn through low margin high volume.
3.Package must be attractive and should be in line of the preference of the target segment. It must exhibit the utility of the contents within a second to the person who looks at it. The message or the graphic should be able to instantly relate to a consumer need and prompt the customers to pick it up and read / observe and analyse it further. The package should have good design features to make it stand apart from the rest.
4. The Bryson's can exhibit its expertise to target customers at places like airports, tourist help centres, cab rental companies and marketplaces flocked by the tourists and at big corporates.The mode should be touch and try, like offering a discounted spa session to the C suite executives of a blue chip company or a extension food counter at lounge of an international airport exhibiting the finesse of chefs.
5. IN other times of the year, the company may tie up with the chain of schools and organise the in house craft contests at the schools tlo attract them to visit their offices and join an after school program. It can also contact the children at amusement parks, hobby classes etc, by forming strategic alliances and grow its busieness.