ASSIGNMENT: CONSUMER BUYING BEHAVIOR REPORT:
For this project, you will need to have a solid understanding of your client’s consumers as a consultant in order to develop, evaluate, and implement effective marketing strategies.
Client Name: ACME
Industry: Appliances
Product Line: Smart televisions
Consumers: United States, United Kingdom, and Germany smart TV buyers
Competitors: Samsung, LG, and Vizio
You will act as a CONSULTANT to help ACME COMPANY to conduct a consumer buying behavior analysis in its markets [THREE MARKET COUNTRIES ARE PROVIDED] in order to decide on whether or not to launch a new product.
ASSIGNMENT INSTRUCTIONS:
As the chosen consultant, you have met with the company’s leadership: Tarek Fahmy, the company’s head of new-product innovation, and ACME’s CEO, Erik Knops, and they have given you the following details of their request. THE DETAILS ARE WHAT THE REPORT WILL ENTAIL:
In Summary:
1. Market intelligence has shown that our major competitors—Samsung, LG, and Vizio—are all developing new smart televisions. These new televisions have attractive designs, are efficient, durable, and are available in different sizes. In addition, these televisions are competitively priced, and sell between $800-$1,400 dollars each.
2. As such, ACME is debating whether to enter this market. We need you to participate in a new cross-functional product development team that will research the smart TV customers buying habits in our three main markets: The United States, Germany, and the United Kingdom. We also need to know if there’s an unmet demand for these TVs in those markets.
3. We need to take into consideration the different needs and preferences of smart TV buyers in those markets; as well as the demographics of those buyers such age and gender. The customer requirements for each of those markets may be quite different.
4. We need to know where those customers buy their smart TVs from, and if there is any seasonal variation in sales.
5. We want you to research the smart TV buyers’ needs and preferences for those three markets, and provide us with a customer buying behavior report. Remember, the report should focus on the customers, and not on the competitors!
As previously mentioned, I would like you to conduct an analysis of the consumers in our main markets. Your analysis should consider both current and potential product users and should address the following questions under the discussion of each country market:
1. What needs are being met by the product purchase? What are the benefits to the consumers? Make sure that you differentiate between features and benefits; go beyond manifest motives and consider latent motives.
2. Who is involved in the purchase process? Who are the influencers? Who are the buyers? Who are the end users?
3. Where are the products sold, and what are the distribution channels?
4. How often are the products purchased? Is there seasonality to sales?
Deliverable: I need you to produce a 2700 words preliminary consumer buying behavior report (excluding cover page, reference list, tables, graphs, and exhibits) explaining your findings on consumer needs, wants, and preferences in these markets. Each country should be discussed in at least 900 words with its own headings and subheadings. Make sure that your report is specific to consumers of ACME’s potential product in the three countries, and not to consumers in general.
Support your work with the course readings and at least five (5) scholarly sources and twelve (12) reliable non-scholarly sources, such as Reuters, Bloomberg, Yahoo! Finance, Barrons.com, Morningstar.com, Money, Forbes, Fortune, the Financial Times, the Wall Street Journal, and the Harvard Business Review, as well as the UMGC Library databases, such as Hoover’s, Statista, and ABI/INFORM. The report should be organized using headings and subheadings to improve its readability.
REQUIRED TEXTBOOKS:
A. Lancaster, G., & Massingham, L. (2018). Essentials of marketing management (2nd ed.). Routledge
http://ezproxy.umgc.edu/login?url=https://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=1581263&site=eds-live&scope=site&profile=edsebook
B. Ferrara, M. H. (2013). Handbook of global marketing. Gale.
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As a consultant for ACME, I have conducted a consumer buying behavior analysis in the United States, United Kingdom, and Germany to determine the potential for a new product launch in the smart television market.
In the United States market, the needs being met by the purchase of a smart television include the desire for a high-quality viewing experience, the ability to connect to streaming services, and the integration of smart technology for convenience. The benefits to consumers include access to a wide variety of content, the ability to control the television through voice commands, and the ability to easily access and control other smart devices in the home. The primary influencers in the purchase process include the primary user of the television and any additional family members living in the household. The buyers are typically the primary user or a family member with the authority to make the purchase, and the end users are the primary user and any additional family members living in the household. Smart televisions are primarily sold at electronics retailers such as Best Buy and Amazon, and through online retailers such as Amazon and Walmart. Sales tend to peak during the holiday season and during big sporting events such as the Super Bowl.
In the United Kingdom market, the needs being met by the purchase of a smart television include the desire for a high-quality viewing experience, the ability to connect to streaming services, and the integration of smart technology for convenience. The benefits to consumers include access to a wide variety of content, the ability to control the television through voice commands, and the ability to easily access and control other smart devices in the home. The primary influencers in the purchase process include the primary user of the television and any additional family members living in the household. The buyers are typically the primary user or a family member with the authority to make the purchase, and the end users are the primary user and any additional family members living in the household. Smart televisions are primarily sold at electronics retailers such as Currys and John Lewis, and through online retailers such as Amazon and Argos. Sales tend to peak during the holiday season and during big sporting events such as the FIFA World Cup.
In the Germany market, the needs being met by the purchase of a smart television include the desire for a high-quality viewing experience, the ability to connect to streaming services, and the integration of smart technology for convenience. The benefits to consumers include access to a wide variety of content, the ability to control the television through voice commands, and the ability to easily access and control other smart devices in the home. The primary influencers in the purchase process include the primary user of the television and any additional family members living in the household. The buyers are typically the primary user or a family member with the authority to make the purchase, and the end users are the primary user and any additional family members living in the household. Smart
