Are the values upheld in the society consistent with the consumption of the product?

 

  1. External Influences  Section  4 –  you will write this part for the chosen brand (e.g. Toshiba) – refer to Chapter 12 – 16  600 words +/-

 

4.1 Culture and Subculture: Are the values upheld in the society consistent with the consumption of the product? Does the product appeal to a specific adopter category?  – Culture and Subculture: It must write this part based on specific types of values – choose at least one of the following:  self-oriented; environment-oriented; other-oriented(Chapter 16)  – you need not cover all the components within the chosen orientation, you may choose one or two components only.

– Product appeal to a specific adopter category:  Choose one of the following categories: innovators, early adopters, early majority (Chapter 14)

 

4.2 Demographics: Is there an influence of age, gender, socioeconomic influences upon consumption?  – Refer to Section 3.1; do not repeat info you have already covered in 3.1 in this part but answer the question directly  Chapter 12 (DO NOT REPEAT FROM 3.1)

 

4.3 Group influence: Is there a reference group influence element on this product category?  – Choose one of the following types:  informational; normative; identification influence; Chapter 14

 

 

 

  1. Internal Influences  Section 5 Chapter 8 – 11; 800 words+/-

5.1 Needs and Motives: How readily is the product positioned to satisfy different needs or motives? What needs are being met? (E.g. Maslow’s Hierarchy of Needs)  Chapter 10; Choose at least ONE type of needs from Maslow’s Hierarchy of Needs; explain what it is and apply

 

5.2 Perception: What are the strategic implications of the process of perception for marketers?  Chapter 8;  you need to cover these three stages – exposure, attention, interpretation;  use an advertisement from online/ traditional source – e.g. can be TV; YouTube or newspaper; must be shown in Singapore before; analyse the ad

 

5.3 Learning: Given the profile of each segment, which application of learning theories would be most relevant to use in promotion? E.g.; reasoning versus operant conditioning? Chapter 9;  choose one of the following theories – classical conditioning; operant conditioning; modelling; reasoning; explain the theory and apply to the case (how do consumers learn about e.g. Toshiba)

 

5.4 Lifestyle- Does the product appeal to a particular lifestyle? Is the product appropriate for one or more lifestyles? Chapter 12; explain AIO – activities, interest, opinions (choose a few relevant points from AIO table in Chapter 12) – Refer to Section 3.1 – do not need to repeat the info here; explain how lifestyle affects decision making

 

  1.  Consumer decision making processes:  Section 6- Chapter 3 – 7; 600 words +/-

6.1 What type and amount of information (sources of information Chapter 3) about this product do its consumers use? How involved are they (low or high involvement Chapter 3)? Which level of decision making are they in (habitual; limited; extended decision – choose one Chapter 3)? Would the brand be considered to be part of this segment’s evoked set? (Use a flow chart to indicate how customers choose a brand; Toshiba is the chosen brand in the evoked set; start with a chart and then follow by explanation Chapter 4)

 

6.2 How do consumers evaluate different brands in this product category? Which evaluative criteria are possibly used in making a purchase decision? Identify a few criteria (e.g. price; country of origin) and explain how consumers go through the choice Chapter 5

  1. Identify a few criteria. E.g. Price, Quality.
  2. Can be very specific. E.g. battery life

DECISION RULE

Choose 1 Rule

Compare with the competitors with the current product we doing

 

6.3How do consumers go about shopping for this product? Chapter 6 identify how people make a purchase choice – choose one “brand first; outlet second”; “outlet first; brand second”; or both  

 

6.4How likely is post purchase behaviour likely to occur? If so, how can it be reduced?  Chapter 7; you need to start with the explanation of satisfaction vs. dissatisfaction; you must explain what you can do to reduce dissonance when customers are dissatisfied

 

Satisfaction: repeat purchase, likely to have some as loyal customer

More customers growing dissatisfied with banks.

 

6.5 How do consumers dispose of this product after its usage? Chapter 7: suggest how customers can dispose the product (e.g. recycling) Slide 10.

 

6.6 Loyalty- Do potential segments differ in their loyalty to the existing product? Are brand-loyal purchases encouraged? How?  REFER TO 3.2: you need to explain how likely this potential segment (e.g. elderly) would use the product and become a loyal customer slide 23 chapter 7, at least 2 relationships.

 

10 general articles at google scholars (MUST BE REAL article, find from year 2000 onwards)

 

  1. Marketing Strategy Section 7 600 words; you need to compare the chosen brand (Toshiba) and the main competitor (LG)

 

7.1 Compare the marketing approach of your chosen and a competitor’s product. On the basis of your research, explain:

 

– How the firm’s (Toshiba) current marketing strategy can account for the product’s success, and

– How the marketing mix supports a particular positioning statement

This can be done in terms of comparing:

 

Marketing mix approach

Product – What characteristics of the physical product and or service appeal to how the product is positioned for each segment? Is the product considered an innovation? What characteristics could possibly impede rapid diffusion?

 

Price – Is price considered an important evaluative criterion? How readily would this segment respond to price reductions? Is price relevant as an indicator of status?

Promotion –What values are important for each segment that can be used in a communication strategy? What media is currently used? How effective do you believe is this strategy?

Place- Do the different segments have differing requirements of the distribution system? What type of distribution system is consistent with the lifestyle(s) of each segment?

 

Start with a table to compare the 4Ps of the two brands (stated above – answer as many questions as possible); then use the information from the table to answer the first two questions

 

 

 

 

 

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