Reference no: EM132019114
Question: Final Project: The final project is a team project. Each team will consist of approximately 5-6 students. The final project will require you to identify a product of your choice in which you will analyze all its messages including advertisements, packaging, availability, pricing, etc. so that you can better understand the buying process. Specifically, how do consumers recognize a problem, search for information, evaluate alternatives, make a decision, and what do they do after they buy (i.e. - How do they determine satisfaction? How do they get rid of the product? Etc.)? What outside influences exist (i.e. - groups, contexts, social, family or household, etc.)?
After selecting your product, now select 2 competing products that are similar, however, provided by different companies. The project will compare the two competing products from the same product class. In outline format compare the products with approximately 12-20 pages (12pt font single space).
Product category campaigns
• Choose a product ** (NO products from Starbucks, Pepsi, Coke, McDonalds, Subway, Microsoft, or Apple)
Areas that need to be addressed with your product and comparing products are the following:
Background information on product/brand category
• Product category description
• Size of the market
• Pricing
• How distributed
• Media and promotions used
Marketing strategy of that brand in terms of:
• Target market(s)
• Product positioning
• Promotional strategy and tactics
• Pricing strategy and tactics
• Distribution strategy and tactics
Interview (in depth) 4 people who have purchased and used the selected product/brand in the past 6 months and obtain the following:
• Describe the process that led to the consumers' "choice" of the brand...cite commonalities of response to marketing strategies and tactics.
• Assess the consumers satisfaction/dissatisfaction with
- The pre-purchase experience
- The purchase experience
- The usage experience
- The service experience
Who is the consumer; select your Target Market based on collected information?
• Income
• Social class
• Ethnicity
• Age
• Cultural influence
How does this product and advertisement tie into the consumer's behavior?
• Perceptions
• Memory queues
• Motivation to purchase
• Personality and lifestyle
• Attitudes
Who makes the decisions on this product?
• Describe the standard steps in the decision making process and what factors influence these steps
• Individual or group
• User different from buyer
• How will the product be disposed of
• Etc.
• How is the consumer motivated to purchase product?
• Information search used
• Problem recognition
What would you do differently?
• The positioning strategy
• Product redesign, modifications or elimination
• Pricing strategy and tactics
• Distribution strategy and tactics
• Promotion strategy and tactics
Conclusion