User Account

All Pages

What are the demographic and geographic

Assignment Help Marketing Management
Reference no: EM13840934

Collecting and Analyzing Marketing Information

EXHIBIT the Expanded 5W Model for Customer Analysis

Who Are Our Current and Potential Customers?

1. What are the demographic, geographic, and psychographic characteristics of our customers?

2. Who actually purchases our products?

3. How do these purchasers differ from the users of our products?

4. Who are the major influencers of the purchase decision?

5. Who is financially responsible for making the purchase?

What Do Customers Do with Our Products?

1. In what quantities and in what combinations are our products purchased?

2. How do heavy users of our products differ from light users?

3. Do purchasers use complementary products during the consumption of our products?

If so, what is the nature of the demand for these products, and how does it affect the demand for our products?

4. What do our customers do with our products after consumption?

5. Are our customers recycling our products or packaging?

Where Do Customers Purchase Our Products?

1. From what types of vendors are our products purchased?

2. Does e-commerce have an effect on the purchase of our products?

3. Are our customers increasing their purchasing from nonstore outlets?

When Do Customers Purchase Our Products?

1. Are the purchase and consumption of our products seasonal?

2. To what extent do promotional events affect the purchase and consumption of our products?

3. Do the purchase and consumption of our products vary based on changes in physical/social surroundings, time perceptions, or the

purchase task? Why (and How) Do Customers Select Our Producas?

1. What are the basic features provided by our products and our competitors' products? How do our products compare to those of

competitors?

2. What are the customer needs fulfilled by our products and our competitors' products? How well do our products meet these needs?

How well do our competitors' products meet these needs?

3. Are the needs of our customers expected to change in the future? If so,how?

4. What methods of payment do our customers use when making a purchase? Is the availability of credit or financing an issue with our

customers?

5. Are our customers prone to developing close long-term relationships with or do they buy in a transactional fashion (primarily based

on price)?
6. How can we develop, maintain, or enhance the relationships we have with Why Do Potential Customers Not Purchase Our Products?

1. What are the basic needs of noncustomers that our products do not meet?

2. What are the features, benefits, or advantages of competing products that cause noncustomers to choose them over our products?

3. Are there issues related to distribution, promotion, or pricing that prevent noncustomers from pur chasing our products?

4. What is the potential for converting noncustomers into customers of our products?

 

 


Part 2: Discovering Market Opportunities
EXHIBIT Trends in the U.S. Sociocultural Environment
Demographic Trends Aging of the American population
Increasing population diversity, especially in the number of Hispanic Americans
Increasing number of single-member/individual households
Increasing number of single-parent families
Decline in the teen population (as a percentage of the total population)
Population growth in Sun Belt states
Increasing immigration (legal and illegal)
Increasing number of wealthy Americans
Lifestyle Trends
Many Americans are postponing retirement
Clothing has become more casual, especially at work
Growing participation in body modification (e.g., tattoos, piercings)
Americans have less time for leisure activities
Vacationing at home (a "staycation") is more common
Less shopping in malls, more shopping from home
Continuing focus on health, nutrition, and exercise
Increasing importance of leisure time versus work time
Time spent watching television and reading newspapers has declined
Growing popularity of fuel efficient hybrid vehicles
Value Trends
Growing disconnect with government
Greater focus on ethics and social responsibility
Increased interest in giving back to the community
Shorter attention spans and less tolerance for waiting
More value-oriented consumption (good quality, good price)
Importance of maintaining close, personal relationships with others
Increasing concerns about the natural environment Less tolerance of smoking in public places
More tolerance of individual lifestyle choices Growing skepticism about business

 

 

 

 

 

Reference no: EM13840934

Questions Cloud

Discuss the rationale behind choosing : Discuss the rationale behind choosing
The reason the woman house was not clean : The reason the woman's house was not as clean as it had been in the past was that
Older adults often do not report feeling depressed : Older adults often do not report "feeling depressed." Instead they are likely to report which of the following EXCEPT?
Recognizing that life has many grays that emotions matter : Recognizing that life has many "grays," that emotions matter, and that the truth can vary from one situation to another is part of. Hispanic Americans have the lowest rates of depression among older adults. The root of Eugene's fear of turning 70 is ..
What are the demographic and geographic : What are the demographic, geographic
Unknowns in procurement statement of work and specifications : Project Manager Daisy Duke works at a Fortune 100 company and acknowledges that there are some “unknowns” in her procurement statement of work and specifications. Which contract type should Daisy Duke not use?
Understand labels on medications : Being able to read a map, understand labels on medications, and comprehend news text are all part of
What point in the project procurement management process : Verification by the buyer of whether the products, services, or deliverables provided by the seller meets the buyer’s acceptance criteria occurs at what point in the Project Procurement Management process?
Understanding of project procurement management : Project Managers need to have an understanding of Project Procurement Management because the ________.

Reviews

Write a Review

Marketing Management Questions & Answers

  Integrated marketing communication

Developing an IMC plan of Amazon that aims to create awareness and knowledge amongst Singaporean  consumers of the ethics involved in buying clothing made from Bangladeshi factories  .

  Multiple choice questions on e-commerce

The assignment in Computer Science or Information Technology is about multiple choice questions, particularly in e-commerce. Questions such as types of e-commerce websites, commercial websites, disintermediation, Platform for Piracy, the data that ca..

  Balanced scorecard for red lobster

The assignment in marketing is about Red Lobster, which is one US and Canada's most loved seafood restaurant. It has hundreds of outlets in US and Canada and it now wants to expand further. The approach adopted by Red Lobster has been discussed in fu..

  Marketing plan - marketing audit, swot and smart report

The assignment in marketing is about preparing a marketing plan. As part of marketing plan, the SWOT analysis, assessing the competitive position, identifying critical competitive issues, marketing objectives, strategy and actions have been suggested..

  Marketing plan

Marketing deals with preparing a marketing plan for either an existing product or a new product. Various aspects about launching a new product into the market are discussed ranging from the industry the product belongs to, goals and vision of the com..

  Yamato corporation analysis - harvard case study

Please refer to the PDF for the Case Study and questions.The case study from Harvard Business School is about Yamato Corporation, a parcel delivery company which provides door to door delivery in Japan.

  Marketing plan - create a new product

The assignment in marketing is about competitive analysis for a new product namely "heated insoles". These heated insoles can be put in shoes and they can protect the wearer's feet by keeping them warm during cold winters.

  Report on digital marketing strategy for a website

Promotion strategies of  the one's own developed website

  Integrated marketing campaign of mccafe

Integrated marketing campaign for McDonald's McCafe. McCafe has been launched in Canada. This is a case study which involves the use of digital marketing and social media marketing apart from regular marketing such as TV and radio. All these more are..

  New product development at adidas

In this paper, the researcher also determines the different kind of practices used by Adidas to manufacture shoes for its customers.

  Managing services in competitive environment

Services can be defined as separately identifiable, intangible activities which provide want-satisfaction when marketed to household consumers and/or industrial users.

  Prepare a marketing plan

A marketing plan is an essential tool for any marketer, providing direction for a brand, product or organization. A marketing plan describes the marketing environment, marketing objectives and marketing strategies.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd