Analyzing the Consumer Market - Essay Example

Consumer Market Analysis Inspiring Challenges: The Kindle3 Inspiring Challenges: The Kindle3 Introduction of an electronic product with innovative ideas always means a promotional sensation of markets across the globe. Advancement in technology has definitely simplified life and the people are comfortable with the changes brought in by most of the gifts of invention. Schedule of life tends to become busier as it gets better with know-how. More often than not, a clear cut assessment of market specification cannot be possible before the launch of all new products.

Effectiveness of all promotional endeavors depends much on the variability as well as orientation of efforts put by the management in analyzing the market conditions for the item on the onset. The Kindle3 is subject to various norms of assessment for the very factor of product specification. The third generation version of e-book readers deserves high level of attention while ascertaining the scope of the launch stations. The Kindle3 will be a hot cake among high-tech consumers who have the habitual addiction to a ‘touch and go’ concern about every new device (Kindle Ready).

The product is meant for earnest book lovers who happen to belong to the majority of young travelers. The company has to focus on the cultural conditions of the launch station, because, a negative propaganda of the product in one market influences the growth of the sales rate as a whole. Social factors like the universality of similar product, has a direct impact on the promotional achievement of the product. It is more likely that a product approved by one person to be promoted by him around his circle.

Personally, this product is a great gift to many people who would need to spend longer time at internet center for research based readings. The Kindle3 offers confidence to youngsters as it assists them in community learning program through the chat rooms of 3G’s supplementation. It works then on the principle, “No distance is far enough’ – this enables the user’s ability to have a large quantity of informative storage acquired through collective learning. Psychological factors are also enterprising for the buyers; as some buyers are of the economical nature, they make rational assessment of the amount money should be spent against the level of satisfaction obtained while purchasing the product.

Another indicator for the success of the product is the basic tendency of people to maintain show-offs – when one person enjoys the possession of The Kendle3 as the insignia of his prestige, other potential buyers select the similar path to acquire competency in buying the product. According to Maslow (as cited in Herr, Cramer & Niles, 2004, p. 768), well-off people are able to routinely meet their psychological needs; while according to Schiffman and Kanuk (2009, p. 164) point out, Freudian psychoanalytical approach to the consumer behavior could be a better option whereby the company can fix the price tags based on the potential of Id, Ego and Superego in a market.

Effective application of above theories ensures easier analysis of the market if they are to add to them the Nicosia Model of communication for product promotion. However, capturing the minds of potential buyers is a hilarious task. The assessment of possible market share may not be met at full length, for consumer behavior is a variable factor. In such circumstances, marketing managements must engage special arrangements for post promotional programs such as affiliation to larger companies and repeated segments of media advertisements whereby they collect information based on the feasibility of the supply against sustainable demands.

ReferencesHerr, E. L., Cramer, S. H & Niles, S. G. (2004). Career guidance and counseling through the lifespan: Systematic approaches. US: Pearson/Allyn and Bacon.Kindle Ready: Information, reviews, resources for the Amazon Kindle and the Kindle DX. Retrieved from http://www.kindle-ready.com/category/kindle-news/Schiffman, L. G & Kanuk, L. L. (2009). Consumer behavior. Pearson Education Inc.