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Consumer Behavior Presentation

Determine a new market for an existing product and submit your concept in the form of a 15- to 20-slide Microsoft PowerPoint presentation.

Introduction

Every company should attract new customers to existing products as well as create entirely new products. To that end, marketers hope to create products as ubiquitous as the iPod, or as recognizable as an Oreo. By understanding consumer behavior, marketers can meet that challenge and provide answers to consumers’ needs and wants while also generating a profit.

Preparation

You will first need to select a product on which to base your presentation. Your assessment involves choosing a product and developing a strategy to market the product to a new market segment. This multimedia presentation offers suggestions about how to choose a product. Note: If your device isn’t able to view this presentation (due to technological issues), you can click View Transcript to the lower left of the presentation window to read the content of the presentation.

Instructions

Determine a new market for an existing product and submit your concept in the form of a 15- to 20-slide Microsoft PowerPoint presentation.

Once you have selected a product, create a presentation that completes the following:

  • Describe the product or service you selected.
  • Examine and describe the market segmentation information. This includes the demographics and psychographics of the existing customers for this product.
  • Assess ways the product would have to be adapted to meet the needs of the new customers.
  • Describe the demographic profile of the new customers.
  • Describe the new market segment you plan to reach.
  • Develop a strategy for pricing this item to attract this new clientele.

Your presentation should comply with the following format and style requirements. If you need help with PowerPoint visit Microsoft Tutorials.

  • Length: 15 to 20 PowerPoint slides.
  • Style: The text portion of the presentation must follow APA guidelines. These style guidelines do not necessarily apply to charts, diagrams, or tables.
  • Writing and Grammar: Make certain that all project components are professionally written and free of grammar and spelling errors.
  • References: You must use proper APA style and formatting when citing and creating references for your sources. Include a complete list of references, including books, Web sites, articles, and other resources. Visit Evidence and APA for help with APA.
  • Submissions: Use Microsoft PowerPoint.

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

  • Competency 1: Assess the role the customers assume to acquire, consume, and dispose of products and services.
    • Assess a company’s strategy to market a product, based on customer behavior concepts.
  • Competency 2: Analyze consumer behavior.
    • Examine a market segmentation and potential customers for the use of a product.
  • Competency 3: Assess the managerial application of customer behavior concepts.
    • Analyze strategies and concepts that influence consumer behavior.
    • Develop a strategy to market an existing product to a new market segment and customer.

Market Expansion Feasibility Analysis

Write a three-part, 750-1500 word in-depth analysis in which you assess the feasibility and profitability of launching a product in a foreign country.

Introduction

The importance of a thorough analysis to determine the feasibility of launching a product in a new market abroad cannot be overstated. A careful consideration of such factors as cultural communications, global organizational structures and hierarchies, negotiations, and international business ethics is vital to the success of market expansion ventures.

Assume the role of a business manager in a fictitious American company whose task is to assess the feasibility and potential profitability of launching the company’s product outside the United States. Company management has already approved your opportunity proposal and has authorized you to proceed with your market expansion investigation.

To begin, select a product and country from the Products and Countries Lists. Use the selected product and county to complete the following three parts.

Part 1: Country Analysis

Examine the following characteristics of the country you selected:

  • Country background and history.
  • Location and geography.
  • Inhabitants, lifestyle, culture, and customs.
  • Communication and language.
  • Economy and currency.
  • Legal environment.
  • Government.

Identify the issues you will need to consider to determine the feasibility of a successful product launch and address the following:

  • What are social, political, and legal structures and hierarchies of the selected country that are relevant to market expansion? How do they compare to those of the United States?
  • What are the cross-cultural communication issues that could result from differences in the social, political, and legal structures and hierarchies between the foreign country and the United States?

Support your analysis with references from the Capella University Library, GlobalEDGE website, or other Internet sources.

Part 2: Competitive Product Analysis

Assess the desirability of expanding your company’s product market into the country you have selected in consideration of companies that may already be doing business there. Identify 2–3 competitors and assess their present market situations. Compare your company’s offerings to those of your competitors, and address the following questions:

  • Would your company be the first in the region? Is the market saturated with competitors?
  • If there are existing competitors, is there evidence that suggests that they have, or have not, been successful?
  • What price might consumers pay? Can you establish the sales potential?
  • Based on your market assessment, what are the potential barriers to market entry? Do any of these barriers present significant risks to market expansion?

Support your analysis with references from the Capella University Library, GlobalEDGE website, or other Internet sources.

Part 3: Company Analysis

When it considers pursuing foreign markets, a company must analyze its ability to establish and maintain its business abroad. Extend your market expansion feasibility investigation by addressing the following questions:

  • What are the key production considerations for conducting operations abroad? Where would manufacturing operations take place?
  • What are the key fiscal considerations, such as the foreign exchange market and the international monetary system? How will you determine whether or not this market expansion is a profitable venture?
  • How would you manage this venture? What management structure would you recommend? What are the elements of the internal workings of the company that you must consider carefully before making your final recommendation to the board of directors?
  • What political and legal rules and regulations must be followed to sell the product abroad? Are there forms to file? How will existing social and cultural structures and hierarchies affect business operations and company management structure?
  • What is your strategy for launching and promoting the product? What are the risks and opportunities associated with market expansion?
  • What is your current assessment of the feasibility of market expansion, based on your overall analysis? Is it still feasible to launch your product in this country?

Support your analysis with references from the Capella University Library, GlobalEDGE website, or other Internet sources.

Additional Requirements

Use the following guidelines when writing your analysis:

  • Length: 750–1500 words.
  • Writing: Your analysis should be free of grammar and spelling errors, demonstrating strong written communication skills.
  • Format and References: Use proper APA-formatted references and in-text citations when identifying your sources.

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the course competencies through the following assessment scoring guide criteria:

  • Competency 1: Analyze cultural communications that affect international business.
    • Describe the cross-cultural communication issues that could result from differences in the social, political, and legal structures and hierarchies of a foreign country and those of the United States.
  • Competency 2: Evaluate patterns of global organizational structure and hierarchies.
    • Describe the social, political, and legal structures and hierarchies of a country relevant to market expansion.
    • Compare the social, political, and legal structures and hierarchies of a country to those of the United States.
  • Competency 3: Analyze the role of international business culture in the negotiation process.
    • Propose a company management structure suitable for business operations abroad, based on the business culture of the host country.
  • Competency 4: Assess the feasibility of business operation in other countries.
    • Assess market potential, considering the market situations of 2–3 competitors.
    • Determine the price for a product in a competitive market.
    • Propose an international business strategy for launching and promoting a product.
    • Identify the key fiscal considerations that might affect profitability.
    • Evaluate potential barriers to entry into a foreign market.
    • Describe the key considerations for conducting production operations abroad.

Customer Knowledge and the Internet

Select a company and write an analysis of how it uses the Internet to better educate its current and potential customers about its products in order to build greater brand recognition.

Introduction

While the process consumers go through to determine what products to buy is fascinating, the ways in which consumers actually use the products they have purchased is equally as interesting. Some products are associated with certain types of events or behaviors, but often consumers branch out on their own and use products in new and innovative ways. Consumers typically use dryer sheets to soften and add scent to clothing in a dryer, but some customers also use dryer sheets to deodorize their shoes. Companies that pay attention to such behaviors can expand the uses for their products and thereby increase the sales of their products. In fact, one brand of fabric softener now promotes the use of dryer sheets in shoes by placing a picture of that use on the side of the package.

Each consumer is distinct because of the unique composition of traits. However, groups of consumers can be identified based on the individual traits that they share. By studying a consumer’s age, gender, ethnicity, and income, marketers are better able to predict behavior.

Yet, specific pieces of demographic information alone cannot be calculated or analyzed in the same way as financial sales figures. Behavioral predictions that are based on demographics are more likely to provide insight into what direction a company should take its products rather than providing a specific answer.

For example, the age of a consumer might be seen as a determiner of whether or not he or she will purchase a motorcycle. You might predict that younger people would be more likely than older ones to buy a motorcycle. Harley-Davidson, however, knows that age is not the only key determinant. The median age for the purchaser of Harley-Davidson’s motorcycles has been rising over the past five years and is now approximately 47 years! However, the typical Harley owner does not just fit in that age category; the typical Harley owner also fits a certain income profile. The median income of a typical Harley customer is at least $80,000 per year. So, for Harley-Davidson, the age of the consumer and the income together help paint a clearer picture of a typical customer.

Reference

Harley-Davidson. (2008). Investor relations. http://investor.harley-davidson.com/demographics.cfm?bmLocale=en_US

Select a company and analyze how it uses the Internet to better educate its current and potential customers about its products in order to build greater brand recognition.

Complete the following:

  • Select a firm that uses the Internet to offer consumers detailed and helpful information on its products.
  • Describe the selected firm and its business.
  • Locate the firm’s website. Analyze the website and how the firm uses it for brand recognition.
  • Explain how the website is used to educate customers about the firm’s products. Provide examples.
  • Describe how the website is used to create a lasting, favorable impression of the firm with customers. For example, consider how the firm may use its website to increase top-of-mind awareness of its products.
  • Describe how the strategies used may affect customer behavior toward the firm’s products.

Use proper APA style and formatting. The content of your assessment should determine its length. Visit Evidence and APA for help with APA.

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

  • Competency 2: Analyze consumer behavior.
    • Describe a firm that uses the Internet to provide brand recognition and information about its products to customers.
  • Competency 3: Assess the managerial application of customer behavior concepts.
    • Analyze how a firm uses the Internet to educate customers on its products.
    • Describe how the strategies used by the firm may affect customer behavior.