History of marketing thought In the s and 50s, marketing was dominated by the so-called classical schools of thought which were highly descriptive and relied heavily on case study approaches with only occasional use of interview methods. At the end of the s, two important reports criticised marketing for its lack of methodological rigor, especially the failure to adopt mathematically-oriented behavioural science research methods. From the s, marketing began to shift is reliance away from economics and towards other disciplines, notably the behavioural sciences, including sociology, anthropology and clinical psychology.
Martin Incorporation was involved in the cosmetics and perfume business. The company was following the product concept of marketing and catered only to their existing customers, while paying no attention to the changing needs and demands of the consumers. Mr Ash modernised the products and spent about 30 lakhs on packaging etc.
The product manager and assistant manager were not happy with the efforts made by Mr Ash as even after 6 months of implementation of suggested changes the company was not able to achieve effective growth in sales.
The product manager and Assistant manager were of the opinion that although some progress was made by Mr Ash, yet many important factors affecting consumer behaviour were also neglected by him.
Consumer behaviour Solved Case Study: New Product Development to increase sales of cosmetics and perfume products Yes, I agree with the product manager and assistant manager that efforts were made in the right direction, but many factors affecting consumer behaviour were ignored.
The reasons being the following: Therefore, Mr Ash should have focused on the Marketing concept to produce and market products accordingly. The target audience was limited to the existing customers Buyer behaviour case study influence the company.
Various new markets must be explored to increase sales. Effective target marketing is essential to promote and position the product effectively in the market.
Grooming products for men Safe and chemical free cosmetics for babies Organic and herbal cosmetics for women The market for cosmetics was not effectively segmented by Mr Ash.
Cosmetics market can be segmented effectively by dividing the market into groups which are homogenous within and heterogeneous among themselves on the basis of their age, gender, occupation etc. Market can be segmented into: Working women, Housewife, Teenage girls Daily consumers, Beauty Parlours, Film Industry Rich people, Middle class people, Low income group While attention was paid to income and social factors many personal factors such as Age, Occupation, Lifestyle, personality of a consumer were neglected.
Working women, elderly women, Teenage girls all have different needs. The rich pay more attention to how they look than people with less income. A Housewife has simple beauty needs as she stays at home most of the time while a working lady has more intensive beauty needs as she goes out of the home every day and has to look presentable in the office.
Traditional women and Modern women both have different needs.
People have different attitude towards chemicals in beauty products. Some prefer it while some dislike it and prefer herbal and organic products. While urban people make use of deodorants and perfumes to smell good, rural population prefers use of soaps, sandalwood and itr to smell good. Keeping the income factors in mind no changes were made in product quantities i.
Keeping in mind the social factors no efforts were made to use opinion leaders like celebrities or doctors which would have been more effective in influencing sales than change in product packaging.
Existing products were modernised while no attention was paid to new product development for new potential markets in cosmetics industries.
Grooming products for men No efforts were made to advertise the products to targeted audience or re-position the brand according to the changing customer taste and preferences.
No offers, discounts or sales promotion activities were carried out by Mr Ash to boost sales. Age — Babies, Teenagers, Middle aged people and elderly all have different needs and requirements related to cosmetics and beauty products.
Therefore the target audience could have been segmented on the basis of age of consumers. Products could have been designed and developed for one or few segments on the basis of their occupation.
Different products could have been developed for both the segments and different pricing strategies could have been followed. Market share for both chemicals and organic products could have been analysed and the more profitable market could have been targeted.
Therefore depending upon the target market packaging and labelling strategies should have been made. Culture — Due to different cultural norms regarding appearances laid down by different religions, men and women of a particular religion dress up and make use of specific cosmetic products.
Opinion Leaders — Celebrities and Doctors act as effective opinion leaders for cosmetics and beauty products which could have been used and their impact on the sales, brand value and price could have been analysed.
A company in the food industry wants to formulate an effective marketing strategy to attract health conscious consumers. For this purpose a survey was conducted as more and more consumers are becoming health conscious and prefer to consume foods that are healthy and nutritious.
The goal of the survey was to collect information about food habits and attitude of the consumers towards different food items.Buyer Behavior for Consumer Market. Introduction. In the summer of , In New Bern, North Carolina, a young pharmacist named Caleb Bradham began experimenting with combinations of spices, juices and syrup trying to create .
When it comes to converting consumers, the secret to more sales is as simple as understanding consumer behavior and learning what your buyer wants from your business..
Businesses often have many customers buying their products—or at least too many to get to know each personally. Consumer Behaviour Solved Case Study Matin Khan – Case IV Explanation of the case study: A company in the food industry wants to formulate an effective marketing strategy to attract health conscious consumers.
As part of a field experiment in a large U.S. city, the background music (classical versus Top-Forty) in a centrally located wine store was varied over a two month period.
The results of an ANOVA indicated that the classical music influenced shoppers to spend more money. Additional findings suggest. The important personal factors, which influence buyer behaviour, are a) Age, b) Occupation, c) Income and d) Life Style a) Age: Age of a person is one of the important personal factors influencing buyer .
Almost one in five people applying for a credit card or personal loan over the past year has been turned down, according to research by BuddyLoans. Having a poor credit history is the top culprit.