NOTE: THS ASSIGNMENT WILL BE USING TURNITIN
Written in APA format. It should be approximately 6-8 double-spaced pages. This is excluding the cover page and references. Must use 4 or more references.
Option 1 – Evaluation of Use of Behavioral Science Concepts by Two Competing Brands
- Select a specific product category (e.g., dog food, laptop computers, cola drinks, airlines, perfume, fast food restaurants, automobiles, cosmetics, vacation resorts, cell phones, MP3 players, etc.).
Research and summarize background information on this product class in terms of each of the following areas (you need not obtain every type of data listed for each area):
- Market (size and growth rate of market; segments and their characteristics; number, names, and sizes of firms; shares of market, sales volumes, profitability; and other performance metrics);
- Description of the product category (product definition; number of brands; types of variations such as line extensions and sub-product categories; features and benefits; functions and uses; branding and packaging; imagery; stage in product life cycle.);
- Consumer Behavior (consumer decision process, including level of involvement, level of decision making, type(s) of consumer purchasing decision situations, sources of information consulted; criteria used in making a purchase decision and their relative importance; sociocultural and other environmental influences; psychological influences; attitudes; etc.)
- Pricing (price range, price points by brand, pricing strategies, and techniques)
- Distribution (where sold, types of stores and other distribution channels [including e-commerce], extent of availability);
- Promotion (promotional tools used, messages, media, spend levels).
- Select two brands within your product category with very different marketing/promotion strategies. Include as exhibits promotional materials such as sample print ads, TV/radio commercial transcripts/descriptions/URLs, website materials, packages, and any other relevant marketing artifacts.Compare each marketing/advertising campaign in terms of the sociocultural and psychological impact it should have on consumers, citing specific behavioral science concepts. Which market segments (demographics, psychographics, and/or behavioral) is each marketer attempting to reach? How is each trying to position the product? How is each marketer trying to appeal to the consumer in behavioral terms?
- Based upon the above discussion, identify which of the two marketing/advertising campaigns is more effective in application of behavioral science concepts and discuss the reasons for your opinion. This should include an analysis of each marketer’s use of knowledge of Consumer Behavior in 2c above.