Analysis of consumer and business buying behavior
University of New York
The purposal of this analysis is to double the sales in both the consumer and commercial markets within the next year. We’re going to devide the analysis in two parts : consumer product and commercial product.
1. Consumer products
According to the Marketing Director consumer products research, our targets are mostly a femal homeowners, between 29 and 59 with an income from $75K to $150K. And, our mains competitors are rented carpet steam cleaners, Kleen Floor Spray 'n Vac and Kleen Floor Spot Cleaner. The company has a good opportunity to grow the market and suggest three things.
The first suggestion is the development of a new product line that is promoted as "safe, effective, and eco-friendly", priced at 1.5X the price for the eco-friendly aspect. And, manufactured the container packaging from recycled plastics. But, according to the marketing research consultant, that won’t be a good idea because the consumers were happy with they current cleaning products and, they ranked eco-friendly attributes as the least influential to their purchase decision. Then, The company should create a new but nothing eco-friendly because consumers are not ready for that but we should think about it latter.
The second suggestion is the development of a private label of this new line, selling more proprietary chemistry and limit the core chemistry so make it “more powerful action cleaners”. This private label endeavor will also create another competitor for the market to share advertising costs to broaden the category of consumer carpet cleaning products. The creation of another competitor for the market is very good idea, even more that supposed to give more choice to consumers and bring and new type of consumers. However, the price should not be higher than the market price because onsumers care a lot about the price.
The final suggestion...