Four Types of Consumer Offerings and How They Differ From One Another
Anonymous
University of the People
Principles of Marketing BUS 2201 Abstract
Consumer offerings are essential products that are available in the consumers’ market. However, not all these offerings are part of the consumers’ need at a particular time. In this brief piece of writing, readers will understand the consumer offerings that relate to their needs and when. Similarly, readers will learn the difference in these offerings and probably the products the author has patronized with a vivid example. At the end of the paper, readers should feel free to consult the references that aided the writing.
Explain the four types of consumer offerings Basically, there are four major categories of consumer offerings, with each offering meeting the needs of the customer at one point or the other. They are Convenience offerings, shopping offerings, Specialty
…show more content…
For instance, convenience offerings are low-priced goods that consumers can effortlessly acquire because they are relatively ubiquitous while shopping offering requires the consumers’ effort in comparing and contrasting various brands and retail outlet to find the best product at a good price. Besides, while convenience products are needed on a daily basis, shopping goods may not be required on a daily basis and it has a higher price compared to convenience goods. (Tanner & Raymond, 2010). Furthermore, specialty products are different from convenience and shopping offering because it is more expensive from the previous offerings and it is also not commonly sold in retail outlets. The consumers are few and the products are purchased less frequently, which give it a high margin profit. Finally, unsought offerings are different from all because they could be acquired even when it may be unnecessary at the moment. It is a product of circumstance by any
The chosen article is Two Cheers for Consumerism by James Twitchell. In this article he talks about consumerism, commercialism, and materialism. He argues the stand point of consumers and the role they live by every day. In other hands the critics, Academy, gives the consumers and overview description to their consumers.
Many businesses employ the incentive tactic to boost sales. These firms introduce new merchandise to the market in order to attract new shoppers, and allow some diversification of their products. Consider all the different types of creamers, cheeses, bicycles, toys, and televisions gratifying the masses of today. There are literally millions of assorted goods produced ...
Consumers become more interested in what brand they buy, and that what they want does not reflect their needs. While there are different products having the same features, people are still giving attention to the brands’ name. When people go shopping at the mall, they do care how the stores present their commodities, which brands use to target their consumers, especially women, and teenagers because they spend more time at the mall, so they are more likely to spend money on useless features’ commodities. Shopping at home, the salesperson explains the features of the product so that another will offer to buy it. Also, at home is the easiest way to buy useless
High-end and niche merchandise: With rising disposable incomes the demand for high-end goods in increasing, which can best be catered by specialty retail stores. Large players can offer competitive prices as they buy in bulk. Smaller players can differentiate themselves by offering niche products and superior customer delight at a premium price.
Firstly, one of the most important focuses would be given to the target customer as we will need to know more about their taste and preferences. What it is they need and or want. Particular topics covering this area will be, the need for ‘Market segmentation’, identifying a competitive position in the market about to enter in the market and studying consumer behaviour, will all be discussed.
Brand selection: the advertisements, messages and discounts offered consumers to try something new with lower price for a variety of product, restaurant menu, branded handbag and so on.
The type of product is another factor as consumers tend to require fewer choices for commodity good and more choices for luxurious goods.
...s’ rather than ‘consumers’. We should consume on our own terms and thus learn to define our own desires instead of merely accepting the choice that the market offers us.
This report aims to provide a mix review of theories and personal case study. I will apply two consumer behaviour theories in relation to my own purchase decisions.
Consumer Decision Making Process A key factor in successfully marketing new/existing products or implementing a product Extension is a thorough understanding of the motivation, learning, memory, and decision Processes that influence consumers purchasing behavior. Consumer purchasing behavior theories have found their way into managerial decision making to help companies more effectively develop and launch new products, segment the market, determine market entrance and in brand management. Therefore, a better understanding of how consumers decide what to purchase is critical to the success of a product. There are numerous theories and models describing the consumer purchasing decision process.
Convenience stores are for people who are mostly on the run. So, it's very important to have the goods that the customers want the stores or expect from the store to have. For example there is a convenience store near my house. When I went there the first time looking for ice cream, I found out that they don't have ice cream for sale. That was a bit of surprise for me. Now, if I need any thing I don't stop at that store thinking that they might doesn't have it. So having what the customer is looking for is very important to increase the sales because it will result in return of the customer. But the convenience stores should be careful while increasing their inventory because it may result in investing in products that have little or no sales. Such products do nothing but wasting stores money because of no return.
Thus, to conclude this section, it is clear to see that consumer behaviour in Ireland is rapidly changing. Economic circumstances, and the rapid pace of technology seems to be main influences which are affecting the way consumers make decisions to purchases certain brands of products from Irish supermarkets. And so, successful marketing requires that companies study this behaviour, and try to use the information to create important, lasting relationships and increase value for Irish consumers.
Advertising generally tries to sell the things that consumers want even if they should not wish for them. Adverting things that consumers do not yearn for is not effective use of the advertiser’s money. A majority of what advertisers sell consists of customer items like food, clothing, cars and services-- things that people desire to have. On the other hand it is believed by some advertising experts that the greatest influence in advertising happens in choosing a brand at the point of sale.
In the business market, the main and principal key to get profit is by the active consume of a product in the marketplace. Nevertheless, firms have taken advantage of that and have created false needs to consumers. According to Leiss, “The only true need, it would appear, are for nourishment, clothing, and housing.” In other words, he states that people can live without television, internet, IPod, and so forth. But the impact of commercials have made people feel the necessity of something else than food and shelter.
Nevertheless, one of the most important constants among all of us, regardless of our differences, is that, above all, we are buyers. We use or consume on a regular basis food, clothing, shelter, transportation, education, equipment, vacations, necessities, luxuries, services, and even ideas. As consumers, we play an essential role in the health of the economy; local, national and international. The purchase decision we make affect the requirement for basic raw materials, for transportation, for production, for banking; they affect the employment of employees and the growth of resources, the successfulness of some industries and the failure of others. In order to be successful in any business and specifically in today’s dynamic and rapidly evolving marketplace, marketers need to know everything they can about consumers; what they are want, what they are think, how they are work, how they are spend their leisure time. They have to find out the personal and group influences that affect consumer decisions and how these decisions are made. In these days of ever-widening media choices, they need to not only identify their target audiences, but they have to know where and how to reach