Citizen Eco-Drive Watch - Assessment of Consumer Motivation and Perception - Case Study Example

Assessment of Consumer Motivation and Perception Name Subject: Instructor: March 27th, 2014. Table of Contents 1. Executive Summary…………………………………………………………………3 2. Introduction………………………………………………………………………….3 3. Characteristics of Citizen Eco-Drive watch- Men’s CC1054-56E………………….4 4. Consumer Motivation to Citizen Eco-Drive watch- Men’s CC1054-56E…………..5 5. Consumer Perception about Citizen Eco-Drive watch- Men’s CC1054-56E….……6 6. Recommendations on Social Media Use…………………………………………….8 7. References………………………………………………………………..…………10 An examination of how consumer motivation and perceptions influence the selection and purchase of a Citizen Eco-Drive watch- Men’s CC1054-56E 1. Executive Summary: This paper aims to investigate and analyze the influence of consumer motivation and perceptions concerning the selection and purchase of case study product (Citizen Eco-Drive watch- Men’s CC1054-56E). To attain the objectives of this work, the study has explored a detailed description of the features and characteristics of the product, consumer motivation and perception regarding the product. The study has gone further to offer recommendations on how social media could be utilized to promote the product. The study has established that consumer perception and motivation are significant and positive influence on buying decisions of the Citizen Eco-Drive watch. The findings of this study can utilized as information in strive to improve sales volume through consumer behavior. 2. Introduction: The development of the modern business has been typified by a broad array of competition in all areas. Due to these prevailing conditions business need to get effective strategy to attain their sales targets. Mathieson and Wall (2011) argue that in growing competition every business needs to triumph the competition by offering the best products which can satisfy the tastes of consumers are they change and evolve. Motivation can influence a consumer in making purchasing decision since it is anchored on the impulse possessed for instance on the assessment of the prices, quality, usage convenience of the required product (Hughes and.Naert, 2000). On the same breath, consumer perception also affects the buying decision; however this might be so because every individual has unique perception of a product, hence the buying decision would accomplished quickly if there are positive perceptions concerning the product to be purchased. At the moment, there are several emerging brands of watches with a variety of designs, models, offering superb quality at competitive prices. For companies operating in watch or accessory industry this must be market share opportunity. The one brand that most people favor since it was launched is Citizen Eco-Drive watch. To compete, the company products are always developing new inventions that suit the evolving times and the public desire to keep their sales up. The paper investigates and analyzes the influence of consumer motivation and perceptions concerning the selection and purchase of case study product (Citizen Eco-Drive watch- Men’s CC1054-56E). 3. Features and characteristics of Citizen Eco-Drive watch- Men’s CC1054-56E. (www.citizenwatch.com) According to their website (www.citizenwatch.com), Citizen Eco-Drive watch- Men’s CC1054-56E is produced and marketed by the company known as Citizen Watch Co based in Japan and was founded in 1924. This watch is primarily powered by either artificial or natural light. The technology in this watch eliminates the cost and need of battery replacement, and better still the disposal of battery (view this on environmental perspective). The product was introduced in the U.S in April, 1996 and a year earlier in Europe, Latin America and Asia. It has attractive, sleek design with many high-tech functionalities. It is a nighthawk that thrusts the limitations of timepiece technology. The Eco-Drive is durable because it is hardened with non-reflective crystal mineral that protects the dialing. It has quick start ability and gives warning when the charge is low. Other characteristics include dual time function, time markers, luminous hands, date feature showing at 3 o’clock angle, and incandescent light. It can compute flight calculations and is water resistant. The price ranges from $2500. 4. Consumer Motivation According to Hunt (1997) consumer motivation refers to the internal state, which pushes someone to identity and purchase a service, or product that will satisfy consciously and unconsciously desires and needs. The satisfaction of such needs can motivates their consumers to make a second or repeat purchase or go for a different service or product to satisfy such needs better. The behavioral element of consumer motivation relates the actions that people make prior to buying and consuming services or goods. Some of their customers carry out thorough research- assessing alternatives, sampling and testing prior to selecting their product. The Citizen Watch Co. has edged customer satisfaction at the center of its operations and it always strives to offer high-quality services and products from the perspectives of their customers. The company listens to the opinions of customers and considers them in improving services and product development. The levels of motivations differ significantly between people, and are affected by several external elements. They comprise beliefs regarding the brand, social value of making the “right purchasing decision, and the alignment of personal values and brand values. When other persons are also part to the decision making, their motivation also influences the behavior of the prime consumer. To improve the levels of customer satisfaction even more, the company adopts different programs established to comprehensively improve the quality of operations including after sale service and also product capabilities in aspects such as design, functionality and quality. The Citizen Watch Co, uses different measures to assist them comprehends customer motivation in regard to the services and products. This has helped them orient their brand based on different customer motivation. They use one-on-one interviews, post-purchases and pre-purchases focus groups, postal and online surveys to improve their understanding of the drivers of consumer motivations. A part from listening to their customers the company is dedicated to developing their workforce’s craftsmanship. This has enabled them to provide services and products that wholly take considerations of the environment, quality and safety (Marshall, 2011). 5. Consumer Perceptions Citizen Watch Co. strives to improve its sales through establishing what drives the purchase decisions of their customers. The theory of consumer perceptions tries to describe consumer behavior by assessing the motivations for purchasing or not purchasing a specific commodity. As such three disciplines of consumer perception theory include, price perception, self-perception and the last one is the benefit to quality of life perception (Katona, 2001). The theory of self-perception tries to decipher how consumers create an understanding of the motivations that surround their individual behavior. In this regard self-perception related to motivations and values, which push the purchase behavior (Mcneal, 2009). Therefore, the company understands that consumers who perceive themselves to be socially cognizant incline to put more emphasizes such as environmental effect while making purchase decisions as opposed to consumers who do not have that kind of view, hence this formed the basis for developing their Citizen Eco-Drive watch-which does require any battery replacement and uses natural power. Price Perception: whereas mass merchandizers, example Rado, focus of low prices as their selling points, upmarket merchants such as Citizen Watch Co. concentrates on value for money and quality to appeal to their clients. This aligns with this theory that states that price perception is greatly influenced whether consumers are satisfied with what they bought and whether they will consider making repeat purchases. It is true then that the price perception is shaped by two factors, which are the perceived quality of the product to be bought and price comparisons with companies providing the same product or service (Suprenant, 2009). On this regard, consumers perceive the company to charging high in relations to what other companies charge, but when it comes to quality they perceive Citizen Eco-Drive watch- Men’s CC1054-56E to be of the best, hence they choose to buy it. 6. Recommendations on Citizen Eco-Drive watch- Men’s CC1054-56E Promotion using Social Media Social media is an economical approach that the company can employ to promote their website and attract new customers while keeping the existing ones talking about the company. This section offers some easy and quick recommendations that Citizen Watch Co. can use to promote Eco-Drive watch relying on some of the most common social networking sites, such as Google+, You Tube, Twitter and Facebook among others. a) Facebook: The Company can establish a corporate page of Facebook and then (at least once in a month) post some special offers to the followers to like your page. They can also post questions (called polls) on their Facebook page that surveys consumers on quirky or fun questions concerning their services and products (Belch and Landon, 2007)” Lastly they can ask their customer to share photos on your page, which they took while wearing their product (Eco-Drive watch) b) Twitter: They can use twitter to tweet unusual or thought-provoking facts about their products or their company, and they can also give a link of their product page (Eco-Drive watch) on their website. Citizen Watch Co. can also post brief tips through twitter on the technical matters such as how to set the watch or charge it. Lastly on twitter, they can tweet photos related to their products on people who follow them (Westbrook and Oliver, 2001) c) Google + : They can develop circles in their corporate Google + profile that is specifically established for their vendors, customers as well as others who may be interested in their products. Next, they can post attention-grabbing contents to their clients as well as other circles related to the business and they must ensure that they promote comments or feedback on their contents. Such contents should comprise their product reviews, interesting articles, blog posts, and promotions, announcements regarding special offers, or news and other exclusive offers. Finally, they can launch the multiuser chat apparatus or start a hangout on Google + to lobby comments or feedback from customers. For example, they can discuss a new service or product or solicit for input on matters such as customer care. References Andeason,A.R. (2005) Attitudes and Consumer Behaviour : A Decision Model in New Research in Marketing. ( Preston). Belch, G.E. (2008).”Belief System and the Differential Role of the Self-Concept Belch,G.E.,and Landon, E.L., (2007)” Discriminate Validity of a Product. Anchored Self-Concept Measure.” Journal of Marketing Research, 14:252-56. Hughes, G.D and.Naert, P.A (2000)”A Computer Controlled Experiment in Consumer Behavior,” Journal of Business, 43, 354-72. Hunt, H. Keith (1997), “CS/D: Overview and Future Research Directions,” in H.K. Hunt (ed.) Conceptualization and Measurement of consumer satisfaction and dissatisfaction, Cambridge, Massachusetts: Marketing Science Institute. Izard, C. E J. Kagan, J. & R. B. Zajonc R. B (Eds.), Emotions, cognition, and behavior (pp. 229-263). Cambridge, England: Cambridge University Press. Katona.G.(2001) Aspirations And Affluence Comparative Studies In The USA And Western Europe . Mc Graw Hill NY Marshall. A, (2011) principle of Economic, an Introductory Volume Macmillian London. Mathieson, A. and Wall, G, (2011) Tourism Economic, Physical and Social Impacts. Longman, Harlow. Mcneal, J.U. (2009). Introduction to Consumer Behavior, New York: John Wiley and Sons. Stigler . G. J (2001) The development of utility theory: Journal of Political Economy 58 August October 307-327.373-396 Suprenant, A. (2009) “Product Satisfaction as a Function of Expectation and Performance,” in R. L. Day (Ed), Consumer satisfaction, Dissatisfaction and Complaining. 36-41. Westbrook Robert A. and Oliver Richard L. O (2001) . The dimensionality of consumption emotion pattern and consumer satisfaction . Journal of Consumer Research, 18, 84-91 www.citizenwatch.com Read More