Consumer Behavior - The Brand Value of Company Created by Proper Marketing - Essay Example

? Consumer Behavior Analysis of the Propose a type of message appeal to be used in the advertising, making sure to explain the rationale behind the appeal. The success of a business firm largely depends on the awareness and visibility of its products and services in the market place. The most important task in any business organization is to win customer’s loyalty and trust. The brand value of any company can be successfully created by proper marketing of its products and service. One of the most crucial parts of marketing is advertisement of the products. Economists have analyzed that all types of goods and services need not be advertized for the purpose of sales. Producer’s decisions to incur advertisement expenses largely depend on the market or industry concerned. Competitive market producers never go for advertisement expenses, like the sellers and producers of potatoes (Yeshin, 2006). When business firms face high monopolistic or imperfect competitive markets then they resort to high advertisement expenses. Personal care products are consumer goods products and its trading involves cut thought competition. Large number of business firms enter in such trading and the major differences between their products is qualitative in nature. Thus while targeting the young generations between 18 to 35 years in U.S.; the company must select an appropriate advertising strategy. A good slogan or message for advertisement is the one that is simple, clear and short. The slogan should be easy so that most of the buyers in the market of different classes can relate to it. “Every Man is Unique” can be an appropriate message for the personal care products for young men. This is because personal care products like shaving accessories; face wash etc. helps to keep the looks fresh and good (Pure Health, 2011). The viewer ship ratings of a product largely depend on the popularity of the advertisement slogan. The company can achieve success with an appropriate message in its product advertisement. 2. Analyze the different cultures this product will appeal to and make recommendations on which three (3) would be the best choice. Consumer behavior is a vital concept of economics and marketing. There are large numbers of factors that influence the behavior of consumers in the market. Demand for personal care products depends on the tastes and preferences of the consumers. For some buyers requirement of personal care products may be an act of necessary consumption. While for others it may be a type of comfort good. While marketing a range of consumer care products for men in U.S., a seller might have several difficulties to attract the consumers. This is because U.S. exhibits different types of cultures in its society. The culture in U.S. is primarily western in nature but still influenced by African, Asian and Latin American cultures. Thus the company must consider different types of culture in U.S. and carry its business activities. There are also many other cultures in U.S. like Polynesian and Native American cultures. The essay tries to analyze different cultures appeal for personal care products, the three cultures considered are African, Asian and Latin American. Africans in America resemble the Black Culture in the society. They are traditional in their thought and firmly follow the heritage and culture of Africa (FROST, 2012). It is empirically found that despite of the global crisis, the industry for toilet soap has remained successful in Africa (FROST, 2012). The Africans create high demand for personal care products. Thus appeal for male personal care products would be high from the Africans in U.S. The demand for male grooming products in Asian countries is rising significantly. Many natives in U.S. are from Asian families. So it can be analyzed that the demand for male grooming products will be good from the Asians living in U.S. Latin American men consider themselves to be good looking. The consumers of Latin American cultures are demand for large quantities of cosmetics in order to maintain the austerities in their looks (Walker, 2001). It is no longer that only women demand for personal care products, male grooming business is growing in recent times. Thus the appeal for male personal care products will be always good in the present snare (Adams, 2011). 3. Decide which micro cultures and additional demographics should be targeted. The company can improve the sales of male personal care products by not only concentrating in the cultural appeals but also considering special demographic and micro cultures in the U.S. economy. The social and economic cultural activities of the population in the economy are expressed in terms of demographic factors. Factors like literacy level, income, occupation etc are the various demographic factors (Madsen, 2007). The marketing planner for the new range of male personal care products must target the young generation whose age group is between 18 to 35 years. Men who are young are more conscious about their looks and fashion. Thus if the company primarily targets the youth they can enjoy high demands for their new range of male personal care products. The consciousness about fashion is more among the men of new generations. The economy in the current business environment experiences price rise in almost all the goods and services. The proportion of low and middle income people is high in the economy. Thus the marketing planner must set moderate prices for the products so that it can be affordable to a wide range of customers. High prices of the personal care products would only be inexpensive to a small section of rich consumers in the U.S. economy. The company may also target unmarried male customers. Unmarried men seem to be more conscious about their looks in general. Micro cultures are different cultural people living in the economy who differ in terms of their languages or ethos (Madsen, 2007). The marketing planner may introduce special discounts in the prices of the male personal care products for the Arab Americans in U.S. The company may also arrange special offers to the Native Americans in U.S. 4. Suggest ways to utilize group influence in the marketing of the product. The marketing planner must try to create group influences while marketing the range of male personal care products. Group influence is a process when the seller attracts a concrete strength of mass consumers to purchase a product. The consumption decisions of a buyer largely depend on the pattern of consumption of others around. (Source: Bearden & Etzel, 2001) The company targets to sell the range of male personal care products mainly to the young group of consumers. The company may plan to undertake the process of free sampling for creating group influences. The firm may target the various colleges and universities in U.S. Free sampling of the products to young male students may help to create substantial value of the new products among the consumers. The consumers may initially not like to experience the newly introduced personal care products by purchasing it. Free sampling of the products will allow them to use the products without paying for it in the first instance (Ferrell, 2012). Once the users get a chance to use the new range of products, they gain loyalty towards the brand and would eventually turn out to be potential buyers of the personal care products. The company decides to sell the product to the low and middle income groups. In order to create group influences the firm may offer special discounts on the personal care products to the users. Price subsidies often seem to act as a strong tool to create group influences among the buyers. Celebrity endorsement is also another efficient tool to create group influences among the buyers. The company may advertize the products by a famous male personality, example a popular footballer. A large group of fans ideally follow these icons, thus advertizing the products by such an eminent personality would surely help to attract a large group of potential buyers (Chandrasekar, 2010). 5. Create a plan to address need recognition, search behavior, and getting the product into the consumers' consideration set. The marketing of a product is never complete without an efficient and concrete marketing plan. The range of male personal care products must also be launched in the market after sufficient planning. The male grooming product industry is booming, thus the industry exhibits curt throat competition. The strategies undertaken by the firm in the industry would be mostly Blue Ocean strategies. The company must thus concentrate in growth and profit policies (Assael, 2005). The firm must imbibe the want for the new range of male personal care products among the buyers. At fist what would be most important is to address the new marketing plan taking into consideration about the need, behavior of the consumers. The company may use a questionnaire survey to identify the tastes and preferences of the consumers with the following. The male population in U.S. is massive, thus the planner must accurately decide over the sample of population to be considered in order to make the survey. The sampling method will be initially purposive in technique as the planner would only decide to take a survey of the youth between the age group 18 to 35. Then the final sampling must be must be stratified in nature so that it includes a heterogeneous group in terms of culture, religion and other socio economic factors. The advertisements of the products must be introduced in a way that would clearly portray the benefits of the products so as to attract more customers. This should be done by specially concentrating in those consumers who seem to be potential buyers of the rivals in the industry. Thus the plan should be a mixture of both Blue and Red Ocean strategies (Assael, 2005). References Adams, P. (2011). Grouped: how small groups of friends are the key to influence on the social web. San Francisco: New Riders. Assael, H. (2005). Consumer behavior a strategic approach(2005) Indian. Delhi: Dreamtech Press. Bearden, W. O. & Etzel, M. J. (2001). Reference group influence on product and brand purchase decisions. Retrieved from https://www2.bc.edu/~woodsiar/nov%202%20reference%20grp.pdf . Chandrasekar. (2010). Marketing management: text & cases. Delhi: Tata McGraw-Hill Education. Ferrell, O. C. (2012). Marketing strategy text and cases. Cunnecticut:Cengage Learning. FROST. (2012). Demand for personal care products in Nigeria and Ghana to increase palm oil production, states frost & sullivan. Retrieved from http://www.frost.com/prod/servlet/press-release.pag?docid=268703597. (1st alphabet for a country’s name should be in Block) Madsen, W. C. (2007). Collaborative therapy with multi-stressed families. New York City: Guilford Press. Pure Health. (2011). Male grooming a sinsle man stotting a gap in the market. Retrieved from http://www.personal-care.basf.com/docs/press_center/phm_male_grooming?sfvrsn=0. Walker, S. S. (2001). African roots/american cultures: Africa in the creation of the americas. Maryland: Rowman & Littlefield. Yeshin, T. (2006). Advertising. Cunnecticut: Cengage Learning EMEA. Read More