Wk 1 – Apply: Why We Buy a Product
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Scenario: You are sitting in your home and you pick up a package of Oreos™ (or some other product of your choosing). After realizing that you have purchased this product for years, you wonder, “Why do I feel so strongly about this product?” You remember your readings from Marketing class and decide to figure out why you feel strongly about this product using the 4 P’s of Marketing and Marketing Strategy concepts.
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Develop a 900- to 1,200-word response using the scenario above and answer the following questions:
- What is it about this product that appeals to me? Who are the people like me that are buying this product? (e.g. demographics, consumer characteristics, buyer behavior)
- How do marketers strategically plan to market these products to me?
- Why does the price of this product seem to be of equal value for the satisfaction that I receive when consuming/using this product?
- How does this product get from the manufacturer to the place I can buy it?
- What promotional activities compel me to buy this product?
- What do the answers to these questions tell you about the presumed target market and its relation to the controllable 4 P’s of marketing?
- What social, environmental, and regulatory forces must this product’s marketers overcome to get this product to the customer?