CONSUMER BEHAVIOUR ASSIGNEMNT 1
SUBMITTED BY RISHAB JAIN, 15BCE0308
Article 1: o Review of Literature for article 1
• Purpose of the study
The purpose is to find the purchasing behaviour and their reactions over sales promotions of shoes in various parts of Malaysia conducted using Bulk’s model
• Methodology adopted
They used a validated model consists of Temporal Perspective, Physical and Social Surroundings.
• Findings
It signifies the importance of being of first buyer among first in the lady’s perception and the socio-ethnic groups all together takes its advantage,
• Managerial implications
Bulk’s sale is highly implacable in the promotions of multiple sales at a single place in the end matters on the duration.
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• Managerial implications
The paper signify that the method is not significant for long term business as their sustainable base.
• Conclusion
If both ends of seller and consumer understands the market base will helps in long terms. It all been said over by the authors view-point.
Article 3: o Review of Literature for article 3
• Purpose of the study
Aims to investigate the companies brand name perception over the sportswear market of China
• Methodology adopted
The created an analysis report over the company belongs to and where the company produces their goods.
• Findings
Analysis revealed that there is a impact of brand value in China rather than from where it belongs. Although they significantly go for quality in local brands.
• Managerial implications
The report determines the different strategies that can be used by the domestic market to improve their selling.
• Conclusion
The above method will help to analyse purchase behaviour of consumer and their pattern for branded shoes or towards the local shoes quality. This can help to create a demand
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• Conclusion
New technology and its implication is important in every market even if it’s a shoe it is important to work in the market
Article 5: o Review of Literature for article 5
• Purpose of the study
This case study is to show how big shoe brands and now leading to procasting the consumer values as their marketing strategy.
• Methodology adopted
By using the method of “Best Practice” the Nike is connecting their consumers globally. • Findings
The paper analysed that now the consumers are indirectly connected to each other through this web world and now consumers understood the power of internet.
• Managerial implications
Nike is building a relation with their customers by interacting them through internet and getting the suggestion to improve their products.
• Conclusion
Understanding the new set market and the global approach of a consumer is highly important and Nike intelligentially used this for improving their product quality.
Article 6: o Review of Literature for article 6
• Purpose of the study
For lowering down production cost and increasing the manufacturing of shoes using automated machine services.
• Methodology
Jon Spoelestra’s Ice to the Eskimos was very interesting and informative. Throughout the entire book, Spoelestra reflected upon the experiences and knowledge that he gained from working in the sports industry. One interesting aspect of the book was Spoelestra’s principle that organizations should design “an offer that consumers cannot refuse” (Spoelestra, 1997, p. 199). This was particularly interesting to me because of my interest in finance. Initially, I thought that if you make an offer too good, that you could potentially be losing out on some profit, however, after reading this book, this principle makes perfect sense.
Nike and their Just Do it slogan is one that is very known throughout the world. Nike is a fortune 500 company. Nike is a major company in sporting products and has put a lot of time in developing the company reputation in reliable and good quality. Nike is very smart in marketing their products to the general public. They use all types of methods to get the company to attract consumers.
As sellers in this system aim to maximize profit, they will find ways to make production efficient and cost low. And because the buyers are willing to pay for the services and products that they
The hype grows as a result from the intentionally low supply of each sneaker released by big sneaker companies. Due to the popularity of the sneakers in today’s market, sneaker culture opens an opportunity for the sneaker collectors and comes up with the idea of the resale market that led to the impressive growth of the secondary market for sneakers. The sneaker trend has been around ever since when sneaker companies started associating with recognizable sportsmen as a brands’ ambassadors, and use the concept of celebrity endorsement. “Branding really took off during the post-World War I era when shoe
Internal Analysis When conducting an internal analysis you must know the firm’s resources and capabilities. Nike’s resources are assets from succeeding in their industry. These resources include financial resources, physical resources, human resources and organizational capabilities. Firms Resources & Capabilities: Human Resources-. The company displays a strong workforce of over 30,000+ employees.
Goals Nike focuses on pursuing opportunities and improving their product to enhance the human potential. Thereby they create product, services and experiences for athletes helping them overcome limitations such as climate and road types. Core Competency and Sustainable Competitive Advantage Nike’s have maxims to help Nike employees to create better products and provide better services for the customers. Henceforth creating better customer value compared to companies.
Nike has managed to shift their Manufacturing unit into Asian country’s were the labor is cheap to be exact wages of USD1 an hour were so little as one-tenth of those given in the US. No wonder that a pair of shoes which were sold for $150 in 1991 is made by indoasian women who were 58 cents a day but the situation has started to change and due to that reason the company has managed to minimize cost of production and not only double triple the the revenue as comparing to the year 1996. Finally we come up with promotion and advertising campaigns which became a grand success not only because they introduced sportspersons , they also introduced innovative ideas and wise strategies and the image of the Product, due to this process we can say that Nike targeted a huge no of audience and created a Prestigious brand which will be easily available for average people . they also came up with great tag lines such as ‘there is no finish life’ , and in the 1980 they changed it into “ JUST DO IT “ these quotes of tag lines are considerd very simple but very attracting and extremely encouraging for the customers .
Nike’s first globalization strategy was outsourcing. Nike Inc. realized that manufacturing its products (footwear) in the U.S was expensive and to further export these products to distributors outside the U.S would be a massive challenge. This is because price affordability was a major concern for customers outside the U.S who would not comprehend why sportswear should be that expensive to buy. However, Nike Inc. took advantage of globalization by using the Japanese high-quality, low-priced production strategy by outsourcing all its shoe production to Japanese producers (Locke,
In the assignment, it will discuss the sports brand Nike which specifically focuses in Chinese market. There are three main content areas in this assignment. The first part is a macro environmental analysis; the next part is the target customer profile; the last part is the analysis of marketing strategies. Macro Environmental Analysis: Nike is a very well-known market leader. It is an international brand, their products are selling in the worldwide including China.
Simply put, Nike’s target market is mainly customers who have more concern for the quality and utility of the product than they have for the price at which the product is being sold. This helps to ensure that pricing never has to be adjusted downwards in attempts to woo in a larger number of customers. For any company to achieve success from the marketing strategies that it has put in place, it has to ensure that its strategy is flexible enough to keep up with the changing times and to also accommodate a large variety of customers. So as to do this, it is imperative that the products being produced by the company be innovative enough to exceed what is being provided by competitors in every possible way. Nike chose to take this into deep consideration and this resulted in it making a few changes on its marketing strategy.
Probable factors that could affect Nike’s business judgements are a range of demographic, social, economic and political. A few have already started to transpire, though others are purely likelihoods. External factors affecting this mix is one of the most common, technology. Before Nike releases its brand new product line to the market, it’s always prepared to authorize that whether or not there has been any sort of major advances from the other competitors that would tracker its launch. Thus they must time this carefully, as other competition may demand to shadow its release with their marketing
In addition, Nike products can also be sold cheaply and with its mass production benefits, Nike positioned The Promise and Perils of Globalization: the case of Nike 3 itself strategically enough to meet global demand. As stated by Hill, (2007) “Nike enhanced the productive capacity to meet the rising demand, hence; satisfying the customers’ needs.” The positive and negative impacts of this
(David and Geoff, 2000) Consumer buying behaviour is affected by three main factors which are buying situation, personal influences and social influence level. (Weilbacher et al 2003) Advertisements do not affect the whole; but only what consumers have learnt and perceived about the product. Advertisements main task is to explain the complete idea in different way so products have a livelong impact on consumer mind. To analyze customer behavior more aggressively, firms need to understand some important aspects of consumer behavior that are associated with product so consumer buying behavior can be understood.
2.1.2 Basic elements of word of mouth: • Educating persons about your products and services. • Identifying persons most likely to share their opinions. • Providing tools and instruments that make it easier to share information. •