Assignment 1: LASA: Consumer Behavior/Market Analysis Report
Consider the toothpaste product presented in your Consumer Behavior/Target Market Report from Module 3, and prepare a Consumer Behavior/Market Analysis Report that covers the following:
- Explain your product and the demographics and culture of your target market. Discuss whether factual or emotional appeals are more effective to the different segments.
- Discuss the particular American values you can target successfully with your product. Discuss any ethical considerations that need to be considered when targeting these values.
- Consider the current economy. In this context write an analysis of the current state of consumer spending with reference to your product. Is your product dependent on the economy, or will consumers choose to purchase it regardless of issues like employment figures and interest rates? How does this help or hurt you?
- Discuss the potential of your product as a success or failure in different cultures. What geographies and nationalities will not currently be interested in your product and why? Discuss whether you can make changes that will improve your product’s appeal to different cultures.
- Write an analysis of the U.S. subcultures that will desire your product and those that might not. Do specific age groups, genders, ethnicities, and/or religions see your product through a lens that differs from other consumers? Propose ways to combat this.
- Describe what you will do differently to gain market share and attract consumer behavior decisions toward greater purchasing of your product over competitors.
Write a 10- to 12-page professional Consumer Behavior/Market Analysis Report. Justify your ideas and responses by using appropriate examples and at least 4 references from text books, Web sites, and other references using APA format.
Be sure to also include some history of the firm and the product.
Discuss the marketing mix, the target segments, positioning, and the benefits and drawbacks of different marketing strategies, including the one the firm currently utilizes.
Use the APA format.
Prepare your report and submit it to the M5: Assignment 1 Dropbox by Monday, March 6, 2017.