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Recommended: Consumerism Essay
1.0. Situation Analysis/Current Marketing Mix
1.1 Current Product
The characteristics of Piaget Altiplano are the thinness, generously - sized dials, automatic and infinitely small. The benefits of Piaget Altiplano are its value and satisfying the female consumer esteem needs. According to Maslow’s hierarchy of needs, esteem is defined as the individual’s need to be recognized and respected by others such as by owning a prestigious watch like a Piaget Altiplano. This may contribute to satisfying the female’s esteem needs (Elliot, Rundle-Thiele, and Waller 2012, 129). There are extra services that the consumers get from purchasing Piaget Altiplano such as customer service, warranty, guarantee, care and maintenance. Piaget Altiplano offers extra services to assure satisfaction. Piaget Altiplano watches come in many makes and models to attract and dissuade the consumers from buying the competitor’s product (Elliot, Rundle-Thiele, and Waller 2012, 232). Consumers are the one who use Piaget Altiplano. Consumer products are products purchased by the consumer for their own private consumption (Elliot, Rundle-Thiele, and Waller 2012, 218). The consumers spend a long time deciding to purchase Piaget Altiplano. Piaget Altiplano is classified as specialty goods. “Specialty goods” mean highly desired consumer products with unique characteristics that consumers will make considerable effort to obtain (Elliot, Rundle-Thiele, and Waller 2012, 129). Some consumers may want a substitute product because Piaget Altiplano is a new brand entering the Singapore watch market. Therefore, the female consumers may want to purchase the competitors’ products, since the competitors have been in the market much longer than Piaget Altioplano. On the other h...
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...ants to continue to be on the market to attract the female consumer. The objective of purchasing a Piaget Altiplano is to satisfy the esteem needs of the female consumer. Piaget Altiplano awareness status is interested. This means, the consumer may or may not want to buy Piaget Altiplano but they already know about the brand. The consumers are still considering whether Piaget Altiplano is the best among all the competitors and look for the uniqueness of Piaget Altiplano.
4.0 List of References:
Elliot, Greg, Sharyn Rundle-Thiele, and David Waller. 2012. Marketing. 2nd ed. Australia,
Qld: John Wiley & Sons Australia, Ltd.
Garnett, Anne, Philip Lewis, Glenn Hubbard, and Tony O’brien. 2013. Essential Of
Economics. 2nd ed. Australia, NSW: Pearson Australia.
Rix, Peter. 2011. Marketing A Practical Approach. 7th ed. Australia, NSW: Michael
Buhagiar.
People are often deceived by some famous brands, which they will buy as useless commodities to feel they are distinctive. People require brands to experience the feeling of being special. People spend their money to have something from famous brands, like a bag from Coach or Louis Vuitton which they think they need, yet all that is just people’s wants. Steve McKevitt claims that people give more thought on features or brands when they need to buy a product, “It might even be the case that you do need a phone to carry out your work and a car to get around in, but what brand it is and, to a large extent, what features it has are really just want” (McKevitt, 145), which that means people care about brands more than their needs. Having shoes from Louis Vuitton or shoes that cost $30 it is designed for the same use.
on non-essential costs but Nanda’s branding failures assisted in the flattening of sales. These failures will be reviewed based on two branding goals: awareness and image. In addition, recommendations will be given on how to successfully brand Clocky in the foreign market of Brazil. Prior to Clocky’s release Nanda was indecisive on positioning Clocky between two target markets. She also received heavy public attention without the support of a professional public relations consultant. Successfully rebranding Clocky in Brazil requires the country’s personality and culture to be incorporated into Nanda Home’s brand image. Creating an association with consumers creates a positive appeal. With this, a primary consumer base must also be targeted to develop clear awareness.
The purpose of this report is to analyze the different marketing mix, or even, probably the same marketing mix that Levi Strauss is applying to both products. Giving you an idea of how, why and the consequence of the marketing mix that Levi Strauss & Co. has applied and still is applying with some minor changes.
Steve's roger's eyes snapped open, throttled to consciousness by severe and bone-penetrating cold. The muscles in his neck spasmed causing his jaw to slam into a broken chunk of ice. As he reflexively flinched away,a primal smothering terror seized his chest as he realized he was suffocatingly encased in raw arctic ice. Drawing a breath to scream, nerves in Steve's abdomen compressed under panicked muscle trauma. His diaphragm contracted deep into his body and Steve began to asphyxiate. Wave after wave of rib breaking contractions wracked his frozen body, sending him into violent death throes. Steve's eyes rolled into the back of his head, and ropes of clinging foam and mucus spilled from his mouth. His heart strained under his breast, exerting its last reserves of energy to keep beating.
Walking into the jewelry store, a man with a high salary income is immediately attracted to Rolex watches because he understands that a Rolex is not just any wristwatch. He asks to see the finest Rolex watch and is impressed by the way it looks and how well-crafted it is. The jeweler then offers the man to see a Citizen’s Watch – one that cost less, tells times just as well, and does not need a battery. He rejects the man proposal because he wants the Rolex credibility and its history. Although many people believe the Rolex Watch Company just makes an overpriced luxury watch for wealthy people and that Citizen’s makes a luxury watch for everyone, I am willing to show that the quality and history of the Rolex Watch Company gives Rolex more credibility than the strategies used by the Citizen Watch Company. After discussing briefly the history of each watch company, I will describe the audience the two advertisements are aimed towards, then I will compare and the contrast the two ads in light of each other. Finally, I will show how their strategies matter to American consumers.
Since the Apple Watch is not a necessity and relatively expensive for even its lower end models, the economic environment could certainly negatively impact Watch sales in present and future markets. One thing Apple has on its side with the release of the Watch, is “the constant thrill that will make the Apple Watch compelling” (Elgan, 2015). To reach another market segment, Apple has succeeded in marketing the Watch as a fashion piece that caters to the “makers that are high achievers who eat, dress, and live well” (Kotler & Keller, 2012, p. 79).
One of the differentiation strategies used by BMW is the creation of auto products that consumers can emotionally relate to. In building the BMW brand, the company has succeeded in positioning its products as prestigious or luxurious. Therefore, most consumers want to own a BMW car solely for the prestige it gives them. BMW products are not only purchased due to their usability or functionality but for the status they give the owner. Subsequently, when a person buys a BMW product, they are emotionally attached not just to the car but to the brand as a whole. This has created increased brand loyalty in BMW growing its customer base as more people search for the status associated with the company’s products.
Nowadays, consumers are attracted by “the combination of quality emotion and rarity” (Perry and Kyriakaki, 2014). Luxury items make them feel more prestigious even if these products do not have any functional utility. The importance of luxury in today’s world is the expression of the immaterial world; as cited by Solomon (1986) consumers are seen as “meaning creators, who live in a dynamic interaction with social and cultural environment” (Perry and Kyriakaki,
The act of consumption has been the primary means through which individuals in society participate and transform culture. Culture is not something already made which we consume; culture is what society creates through practices of everyday life and consumption involves the making of culture. When attempting to understand certain acts of consumption it is necessary to observe the relations involved in production and consumption. Through technological innovation, the fashion industry has been expanded to play a prominent role in consumers’ purchasing decisions and styles are becoming less difficult to obtain. With the expansion of department stores and shopping being viewed as a leisurely activity, this has continued to transform the act of fashion consumerism. The functional interests feature a rational attachment to clothing items. Symbolic benefits involve status and prestige to fulfill the achievement for positive self-esteem. Further benefits include a provided experience for the individual consumer and the created use of imagery and desire used to enrich one’s life.
... a certain product. On the consumer’s side, they will have the rights to choose, the freedom to select the product that will best suit their satisfaction or needs. Because on each day, we have daily needs that we can’t live without. Each necessity sometimes used almost every day so this study will introduce them the upside of having product variation. On the entrepreneur’s side, this research will become helpful for to know the wants needs of the people. They will be able to know the strategies or the right product to manufacture that will help them increase their market.
in this segment are often brand conscious and enjoy the latest fads and trends. They...
There are designer watches for men for all uses, and these factors need to b...
I am sitting in a still room, borrowing a moment to inhale the serenity that seems to float in the air like a cloud of fog, and listening to the silence. Listening closely, I notice that the silence, an absence of apparent sound, is its own symphony; it is an orchestration that is being kept alive by a carefully beating drum. I concentrate on the drum’s beats, observing that its rhythm is steadily and confidently throbbing. When glancing, I make a discovery and erupt with laughter. At this moment, precisely 1:43 PM, I realize that the incessant pulsation is not the tempo of tranquility, but rather the ticking of my watch. A small, thin, golden band strapped to my wrist, the watch is a living creature; it has a face, hands, a heartbeat. It has its own mechanized mind, a willpower to keep ticking at the same pace despite the circumstances; some of the more durable watches even tick under water. Within each brisk movement of the second-hand, a human has laughed, some have shed tears, one is gripped by death, and yet another is being given the gift of life.
Every company seeks to create its own brand - a unique and effective image. Purpose of brand is attracting and retaining customers in its market share. Branding in marketing is a complex technology, aimed at making advantageous position a brand from the competition. Facilitating the search for the necessary goods to the buyer, branding in marketing becomes more effective if the consumer product features meet market requirements. It is especially necessary to identify the goods, for a case of unprepared buyer which can not assess the competitive characteristics (for example, high-tech products). The development of technology has had a huge impact on human society. It is reflected in the fact that we are surrounded by complex technical devices that we use every day and sometimes we have no idea of how this thing is located within. Here the brand comes to help the consumer that stands out from all those product characteristics that are important to the consumer and facilitates the understanding of the product.
Brand offers superior quality of the service to the customer’s expectation and satisfaction. Furthermore, people are much attached to the branded products, as majority of the people purchase the branded products with the belief that brands show their status and life style in the society. And also because they believe that they are purchasing quality when purchasing branded product. As duration of stay creates impact of brand on consumer behaviour, so verification of brand image, brand loyalty and personality should be considered as the significant factors in this regard. It can also be said that there is need to improve the product of a particular brand so that the impact of brand on consumer behaviour is more effective in comparison to the existing scenario. The study also reflects that the product features are very essential for consumers. Advertising plays a very important role in achieving growth for any product or brand. The right media for advertising products and services should be chosen to gain customer attention.