Effects of Product Variation to the Consumer’sBuying Preference
Product differentiation is a concept first proposed by Edward Chamberlain in 1933. He put forward the idea that it was possible to distinguish one product from another in the mind of consumers, and that in doing so businesses could make products more attractive to a target market. During the early 20th century, as businesses became larger, advertising was increasingly used to communicate product differentiation to the masses.
A new product may be a variation, that is, a product with a set of dimensions basically similar to those of earlier products of the organization, though with refinements and modifications. The model changes of American cars would be a typical example. Reorientations, on the other hand, imply more fundamental changes, in while some product dimensions may be eliminated and entirely new ones added.
Variations can be accommodated within the framework of the existing political system of an organization, while reorientations tend to be associated with changes in the system. The directions of causation might go either way; a successful new product may huge the values and power relations, or such changes may cause the emergence of reorientations. (Author in Normann 1969).
This research focuses on “the Effect of Product Variation to the Consumer’s buying Preference.” Specifically, it aims to the following specifics question. What are the effects of product variation to the consumer’s buying preference? How product variation does affect the consumer’s buying preference? What is the importance of product variation? This research aims to identify the effect of product variation to the consumers’ buying preference. Identify the differentiation of products...
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... 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.
This is the research study which is intended to help to people on the market economy and in the community. It shows the consumer’s behavior that affects their decision making on choosing a right product. And this study how also shows this method can be useful when engaged on the products carefully.
Product is/are the products or services you offer and are they unique and different, superior in quality and easier to use. In my own opinion, the product or service is one the most important aspects of a successful business. If you have an item that the customer really wants they will drive out of their way to purchase it. They are usually willing to pay a higher price if the quality justifies it. When a local popular hamburger place open up in Phoenix, people drove long distances and sat in long lines just to bite into one of their juicy hamburgers.
Companies realize what people need and they take it as sources to produce commodities. However, companies which have famous brands try to get people’s attention by developing their products. Because there are several options available of commodities, people might be in a dilemma to choose what product they looking for. In fact, that dilemma is not real, it is just what people want. That is what Steve McKevitt claims in his article “Everything Now”.
The next step is the growth stage. In this stage product growth is monitored and big investments are made. Maturity stage the growth of the outputs is significant. For the company to ensure product survival in the market and gain a competitive advantage over competitors it has to incorporate product differentiation. The final stage involves product decline stage. In this juncture product sale goes down and the product identification
Adopting a strategy of differentiation makes firms provide products and services what are distinct in some way valued by customers.
Marketing differentiation, where firms try to differentiate their product by distinctive packaging and other promotional techniques. For example Monster advertises by sponsoring tournaments, getting ownership of sports teams and conducting music concerts.
These consumer behavior has evolved in order to request more interaction from the companies and brands in order to provide a full image about what motives the company to provide an excellent product or service. The comparison made by Kotler (2010) has emerge in a way to understand how the companies have to present themselves to the consumers.
The participants of the study were asked to their overall preferences for different alternatives. There were four attributes for this conjoint analysis. The first attribute, price, had three levels with a low, medium and high level approach. The second attribute, brand, had three levels with different brand name’s listed. The third
Differentiation through marketing strategies, this is a form of innovation driven by the need to create a superior brand (Sadler, 2003).
Besides, the article deepens the idea of how important is the use of correct targeting and considering of the market needs. While the company usually should target several categories of consumers, the concentration on a single target group might have negative
In the modern world of conducting business, any company that wishes to succeed must differentiate its products or services from others in the industry. Differentiation makes it possible for consumers to point out notable differences between one company’s products as compared to those of competitors. Differentiation helps companies build brand loyalty as the uniqueness keeps customers fixed on a particular product. BMW is one of the most popular automakers in the world today. It definitely uses differentiation as a strategy to beat off competition by building products that are innovative, detailed and incomparable to those of competitors.
This paper presents a dynamic model on the consumer behaviour on the real world marketing issue. It will further discuss the marketing and industrial experiences encountered daily in everyday business life, in addition is the Consumer behavioural issues and consumer analysis or recommendations.
The questionnaire will be administered among the sampled 100 customers. It will contain both open ended and closed questions. The questionnaire will be structured into three sections. The first section will be an introduction that will brief the study participants on the study purpose and encourage them to answer the survey questions truthfully. The second section will focus on the participants’ demographics such as age, income, gender, family life cycle, and their purchasing behavior. The third section of the questionnaire will contain questions focusing on the consumer preferences when they buy products from the
Every company wants to understand why people decide to buy its products or others. Firstly, we have to understand why people buy certain kind of product. People buy products because they need them. A need is activated and felt when there is a sufficient discrepancy between a desired or preferred state of being and the actual state. (Engle£¬Blackwell and Miniard. 1995. p407 ) For example, when you feel hungry, what you needs is some food. It is very important for marketer to understand the needs of consumers. All the consumers may have the same needs, but the ways which they satisfy what they need are different. Here is a example, Chinese people would choose rice when they feel hungry, whilst British people may choose bread to satisfy their needs.
Conclusion Companies are better able to market their products to consumers if they have a good Understanding of the consumers and the basic purchase decision process. By understanding the consumer and the type of purchasing behavior associated with different products, marketers are more likely to create a marketing campaign that positively impacts the consumer’s purchasing decision.
The term product differentiation refers to the process of distinguishing a product or service from the competitor’s product, to make it more attractive to a particular target market. A firm uses marketing to differentiate its product, which refers to all necessary activities for a firm to sell a product to a consumer. A firm uses brand management to build a brand and unique identity of a product for the long run; this helps the firm to have an independent identity and to differentiate its products from the competitor’s product. So its uses brand management to maintain product differentiation over time. Firms use advertising as a tool to try to shift the demand curve to the right and make consumer demand for their product inelastic. This creates consumer loyalty of brand loyalty for the product. Since my movie theater doesn’t have IMAX screens, one way to advertise it could be by advertising it as affordable neighborhood theater. This way it would create brand recognition of a comfortable, homey and affordable theater for families and teens to be entertained on a budget. Product differentiation helps firms to create a unique identity of their product, which helps people become more attracted and loyal to the product even though substitutes are available, making the demand more