MKT 421 Week 1 Apply Why We Buy a Product NEW
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.
Develop a 700- to 1,050-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?
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