StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

MRKT discussion questions week04 - Research Paper Example

Cite this document
Summary
Name Class Teacher Date 1. What key segments can you identify for this product / service? Are there any differences in segmenting low involvement vs. high involvement?  The respondents for my assignment were two males and two females. Among those who made a relatively new purchase of high involvement product were the males…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.1% of users find it useful
MRKT discussion questions week04
Read Text Preview

Extract of sample "MRKT discussion questions week04"

Download file to see previous pages

In low involvement product, differences in segmentation were not that evident and often ignored. The reason I can surmise why segmentation is more evident in high involvement product than low involvement product was that high involvement product takes so much resources and time from the consumer that segmentation becomes significant. For example, in the respondents whom I asked for their considerations before buying the car, the interviewees really made a careful thought before buying the car.

Considerations like fuel consumption, maintenance, up front cost, performance, comparison with other cars, etc. were considered before buying the car if indeed it was a real value for their money. Here, cars that were positioned in the lower to middle segment in the market caught their attention. High end cars with exorbitant price tags were automatically struck off from their list. Therefore, the segmentation of the market in terms of price worked for my respondents even if they belong to upper middle class income bracket who could afford more expensive cars.

To validate my initial assumption about segmentation, I asked a respondent why he is zeroing in on value cars and not the flashy cars which men typically like. He replied that he used to like but learned how to be frugal after the financial crisis because, as he said, “you never know, you might lose your job tomorrow.” He said that he has to be practical these days especially in high ticket items that will be purchased because of the uncertainty of the economy. Moreover, the money he saved from buying to value cars instead of the more expensive ones will go to his savings as a “buffer” during uncertainties.

Comparing the car purchase with low involvement product, most of the respondents did not give much thought about the purchase and just put the product in their grocery baskets everytime they shop (the item I asked for low involvment product was shampoo). I asked them why and they replied that they are used to their brands already and they will only consider other brands if it is not available. I asked if price or other factors influence their buying behavior and they responded that only if it is very significant.

But if it just within the price range of a regular shampoo, they do not mind slight difference. Perhaps this is more applicable to the segmentation of gender because the female respondents (two of them) were emphatic in having their particular brands due to reason that it “suits them” while the men were not that conscious about their shampoo and just pick up the same brand of shampoo out of familiarity but would not mind using another brand. 2. How would the marketing differ for the different segments you identify?

High involvement products are high stake purchase for the consumers and they really take the time before making the purchase. As such, high involvement products are very conscious to position themselves according to the considerations of their target market. For example, in the car industry manufacturers that target the low to middle market astutely emphasize values in their products such as fuel efficiency, mileage, reliability and price. The reason for this positioning is that their market is price sensitive and they have to communicate and package themselves as the best value for their money.

In the high end cars, they observably emphasize style, comfort and image to appeal to their market

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“MRKT discussion questions week04 Research Paper Example | Topics and Well Written Essays - 750 words”, n.d.)
MRKT discussion questions week04 Research Paper Example | Topics and Well Written Essays - 750 words. Retrieved from https://studentshare.org/marketing/1458706-mrkt-discussion-questions
(MRKT Discussion Questions week04 Research Paper Example | Topics and Well Written Essays - 750 Words)
MRKT Discussion Questions week04 Research Paper Example | Topics and Well Written Essays - 750 Words. https://studentshare.org/marketing/1458706-mrkt-discussion-questions.
“MRKT Discussion Questions week04 Research Paper Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/marketing/1458706-mrkt-discussion-questions.
  • Cited: 0 times

CHECK THESE SAMPLES OF MRKT discussion questions week04

The Marketing Orientation in Relation to the Sales Orientation

Even though mrketing functions hve long been performed nd middlemn system of mrketing ws well estblished in the lst century, gret chnges hve tken plce in the significnce ttched to mrketing by ll kinds of compnies.... In generl, this hs been trnsition from emphsis on selling wht compny hd to the producing of goods nd services tht re wnted by the customers tht mde up the demnd side of the mrket....
11 Pages (2750 words) Essay

Working in Organisations - Case of Tesco

Each interviewees was given to complete the questionnaire (Appendix B), that covered various questions on organizational structure and design.... questions... The report below provides n insight into the supermrket compny, Tesco, with emphsis on its orgniztionl structure nd design, externl environment nlysis, compny's nlysis of resources, competence nd culture....
10 Pages (2500 words) Essay

Humn Resourse Mngement 'The World is Flt'

Three key questions re ddressed.... There are signs that the UK labour market has behaved differently in the most recent economic recovery.... After the end of the recession unemployment began to fall much earlier than expected, whilst wage and price inflation remained very low....
14 Pages (3500 words) Essay

Business & IT Strtergies and Informtion Systems

The increse of gret interest in inter-orgniztionl reltions is due to developments in technology nd mrkets.... In technology, there is fst development nd prolifertion of novel opportunities, e.... .... in informtion nd communiction technology (ICT), micro-mechnics, optics, sensors, their combintion in robotiztion, biotechnology, new mterils nd surfce technologies....
11 Pages (2750 words) Case Study

Finncil Mrkets nd Monetry Policy

In the paper “Finаnciаl Mаrkets аnd Monetаry Policy,” the author looks at the reаction of the finаnciаl community to the increаse of interest rаtes by the Bаnk of Englаnd, which showed thаt they believed thаt the consumer price index would remаin аbove tаrget if rаtes were left unchаnged аt 4....
8 Pages (2000 words) Assignment

Comparison of offline and online Retail Environment of Car Industry

The аim of the reseаrch "Comparison of offline and online Retail Environment of Car Industry" wаs to determine whether online businesses should be undertаking their own in-house mаrketing, or if they should be using professionаl mаrketing compаnies to аvoid business fаilure.... hellip; This wаs undertаken in the form of а quаlitаtive study аs it wаs reviewing informаtion on both fаiled аnd successful online businesses, to estаblish whether the use of professionаl mаrketing professionаls hаd аn effect....
47 Pages (11750 words) Dissertation

What makes a successful Administrative Director of Radiology

The aim of this study is to understand the basic requirements to be a successful administrative director of Radiology or equivalent in the twenty first century.... Is it necessary to have experience and licensure in the field of radiology?... hellip; What makes a successful Administrative Director of Radiology"?...
11 Pages (2750 words) Essay

Marketing Research and Its Techniques of Conducting

The author states that modern technological advancements and industrialization have widened the canvas of both thinkings and performing.... nbsp;The scope of research marketing has met positive consequences and the subject finds a secure and elaborated volume.... nbsp;… Marketing research enables the manufacturers, industries, and companies to have a comprehensive and analytical assessment in respect of the views, preferences, requirements as well as prospects and perils of the consumers, retailers, and stakeholders involved in the sales and purchase of their product....
12 Pages (3000 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us