Marketing Management
Order Instructions:
1. A major adult alcoholic-beverage marketer is considering introducing an “adult” soft drink that would be a socially acceptable substitute for alcohol.
What cultural factors could influence the introduction decision and subsequent marketing mix?
2. A person will tend to buy the brand in the product class whose image is most congruent with his or her self-image. Is a person’s self-image a highly reliable predictor of his or her brand choice? Why or why not?
3. Describe the consumer market for briefcases, using the “Seven Os”
framework described in chapter 4.
SAMPLE ANSWER
Marketing Management
Marketing is one of the critical strategies that business employ to position their products in the markets. The paper deliberates on the cultural factors that may influence the introduction decision and subsequent marketing mix when introducing this adult soft drink. It as well evaluates whether personal self-image is a predictor of his or her brand choice and consumer market briefcases.
Cultural factors require consideration when introducing any products. Culture explains the lifestyles of people and therefore determines the kinds of product choices they make. In this case, it is imperative that cultural factors are considered. Some of the cultural related factors the company will consider include the culture and subculture of the target audience. The company must consider the religious affiliation of the target group, their race, geographical locations and their nationality. Other factors will include the language of the target audience, the beliefs and values, the norms, the consumption habits of the target audience and the interest and preferences. For instance, the beliefs and values of the target audience will help the company to understand whether the target audience can change from consuming alchol or locally brewed beer to the soft drink. Language will also be essential, as it will help the company to use a language and messages that resonates with the target audience to woo them to purchasing the product. The language should as well enhance understanding between the company and the target audience. Interests and preferences, norms and consumption behaviors as well vary from one community to another and this will help the company to consider their prices, packages and the promotional strategies that will help to attract more customers in the market segment.
Person’s self-image is a highly reliable predictor of his or her brand choice. People associate and make decisions to purchase certain categories of products that they resonate with their personal self-image (Ivens & Valta, 2012). This explains why companies design certain class of products to specific category of consumers.
Consumer markets involve individuals that buy goods and services for personal consumption. Understanding these markets is essential to ensure achievement of marketing objectives. Marketers should understand the 7 O’s of marketplace which include; understanding the target audience in the market, the goods that the people purchase and the reasons or motives why these people purchase these products. Other aspects that require consideration in these market briefs is understanding of the entities that participate purchasing of the products, the processes in the market, the seasons or periods that the goods or people purchase these products and the sources of the markets. These aspects are essential in any consumer market briefs as they allow utilization of appropriate strategies to trigger increase sale.
Reference
Ivens, B., & Valta, K. (2012). Customer brand personality perception: A taxonomic analysis, Journal of Marketing Management, 28(9/10): 1062-109
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