1. Consumer behavior is the totality of consumer decisions with respect to acqui
ID: 465706 • Letter: 1
Question
1. Consumer behavior is the totality of consumer decisions with respect to acquisitions, consumption, and disposition of goods, services, and ideas by people over time. Provide an example to prove that it is important for marketers to understand that not all consumers respond to a product offering in the same way. 2. A SWOT analysis is a situation analysis, which is a thorough analysis of the current market situation, an analysis of the internal (strengths and weaknesses) and external (opportunities and threats) environments. Briefly explain why it is important for a company to analyze its strengths and weaknesses. Provide an example to help explain your answer. 3. Name a product that is specifically target marketed to your 45 to 50 age group, and briefly describe how the company markets that product to your age group differently than to its secondary target market.
Explanation / Answer
1. the best example for this is take an example of a laptop, one may look for 3GB ram where as some other looks for 4GB, some may interest to have graphic card option, some may look for front camera and so many. so, it can be known that every customer is unique and they expect a product according to their specifications only. based on those expectations the producer has to be prepare and deliver a product to him.
2. to know what to do or what not to do it is important to know what we have, in which point we are strong and how can we proceed. suppose take an example of ITC they have strong marketing network, but low product success rate. so how the strength should be useful to the firm and how the weakness should overcome. without knowing these two a company can not move succesfully.
3. the product is contact lenses and eye glasses, for this group people it may the primary good which play a major role in their lives. some people can not move or do work without these. a company explains about its features and benefits of the product with demonstration and try to capture the market. of course for other age grouped people, the way they proceed and the produt design and approaches; everything will be different.
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