* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download apple_watch_a_new_product_launch.edited
Social media marketing wikipedia , lookup
Neuromarketing wikipedia , lookup
Youth marketing wikipedia , lookup
Pricing strategies wikipedia , lookup
Global marketing wikipedia , lookup
Advertising campaign wikipedia , lookup
Product placement wikipedia , lookup
Social commerce wikipedia , lookup
Green marketing wikipedia , lookup
Segmenting-targeting-positioning wikipedia , lookup
Product lifecycle wikipedia , lookup
Marketing strategy wikipedia , lookup
Predictive engineering analytics wikipedia , lookup
Consumer behaviour wikipedia , lookup
Marketing channel wikipedia , lookup
Running head: APPLE WATCH A NEW PRODUCT LAUNCH Apple Watch a New Product Launch Name Institute 1 APPLE WATCH A NEW PRODUCT LAUNCH 2 Apple Watch a New Product Launch Q1: Consumer Behavior Model: Environmental factors. The Apple watch being a new product that is being launched into the market has two main environmental factors that are relevant to the Apple watch product. The social class and the social group influence factors. The social class comes in as a relevant environmental factor in the sense that being a classic watch; it will attract and align with people from the high social class, similar educational levels and also those that shares similar parameters in life (Sokolowski, 2011). This means that the watch shall become a fashion trend to a particular social class of people while as it is most likely that people from the low-income social class would not consider it an option. This is more so because individuals in the same social class tend to purchase similar products. The social group influence is relevant in this case because just like the social class, individuals in the same social class tend to buy and like similar products. In the case a particular social group likes the Apple watch; it is likely that all members of that social group will buy the watch. Q2: Consumer Behavior Model: Consumer factors. The most relevant consumer factors that are pertinent to the consumer behavior expressed while buying the new Apple watch include; user preference, choice, and communication, different buyers have different preferences, and this makes them prefer some products over other. This means that some customers just by mere looking at the Apple watch will prefer to buy it while others will prefer not to. Also, there are personal choices that a customer has to make, and they influence the buying decision of the client (Sokolowski, 2011). The reason is that decisions are determined by the quality of the watch, the price and value for the money charged for the watch, APPLE WATCH A NEW PRODUCT LAUNCH 3 and the customer's needs among many other factors. This means that considering all these factors; there are customers who will make a choice to buy, and others will find the watch irrelevant according to their needs and lifestyle. Communication is relevant because there is a customer who makes a decision based on the information they have about the product. The better and quality the information that they have, the more likely they are to buy as compared to those who do not have any information. Q3: Role of involvement in consumer decision-making. Due to the high levels of competition and the fact that the product is new in the market, a high degree of customer commitment shall be applied so as to create the right and desire product awareness. High involvement will allow the client to have all the information and difference between the Apple's watch and other brands in the market hence helping in making the buying decision. For this product, the most consistent buying behavior that matches the high level of involvement is the complex buying behavior. The reason is that the goods are not cheap; they are of quality and are infrequently bought. Q4: Consumer decision-making process Six steps make up the purchase process. These steps include; problem recognition, information search, alternatives evaluation, purchase decision, purchase, and post-purchase evaluation (Masterson, & Pickton, 2014). From the six steps marketing can influence during information search step, alternatives evaluation step, and also during the purchase decision step. The reason is that these are the most critical steps and during this time, the consumer seeks for a product that aligns with the client's needs and wants. This means that any marketing done during APPLE WATCH A NEW PRODUCT LAUNCH the time the customer is going through these steps can influence the decision that the client will make. 4 APPLE WATCH A NEW PRODUCT LAUNCH Reference Masterson, R., & Pickton, D. (2014). Marketing: An Introduction. London: SAGE Publications Ltd Sokolowski, O. (2011). Influences and attitudes within consumer behavior process. S.l.: Grin Verlag Ohg. 5