Marketing Consumer Behavior Information of Product

Question: Describe about the Marketing Consumer Behavior for Information of Product. Answer: Activity 1 Sydney Institute is a non-profit organization that applies marketing concept. It is a private institute in Australia that belongs to the education industry. The institute exchanges education services for educational fee. The institute applies marketing concept by studying the needs and requirements of the demography and offering the courses that are in demand as per the requirements of the masses. They target their market and advertise and promote their services to the public so that they can attract students to their institutes (Solomon 2014). The profit is in the form of educational fee that they get from the students of the institute and donations. Billabongs websites throws a lot of light n the surfing, skating and skiing industries. However, it does not offer much information about its products. This can work against the company and can turn out to be its shortcomings. The customer needs and demands depend on the utility they would receive from a product or service. Thus, it is important that more information about a product is provided to the customers and consequently, the product is adequately advertised or promoted to the customers. Displaying of information about the product on the internet is a form of advertisement and promotional activity and scarce information about a product can be the shortcoming of a company. in this case, Billabongs lack of information about the information might pave the way to be the companys undoing since the customers will remain oblivious of the products the company offers to the public. Activity 2 The Nestle Australian website depicts that Australian parents are not aware of the appropriate level of nutrition that is needed by children so that they develop healthy eating habits. According to this survey, which was conducted by Nestle Healthy Active Kids as a part of Raising Nutrition Savvy Kids Report, it was shown that more than 1300 parents were asked about the nutrient portion that was being served to the children (www.nestle.com.au 2016). However, more than 78% were oblivious of the correct nutrition mix and the knowledge of the healthy eating habits fell short. When they were asked particular question, none of the parent could secure full marks regarding diet and nutrition as suggested by the Australian Dietary Guidelines. The purpose of this survey was to incorporate healthy eating habits among kids. Peters Brand Pilsner is the latest product that is being introduced in the market. It can be seen that this is the current product, which is grabbing the attention of the people from youths to adults. The product is a German style pilsner, which is brewed by United Export Breweries (www.beeradvocate.com 2016). This product has a wide demographic reach and is appreciated and purchased by customers ranging from different age group and the reasonable price makes it a successful campaign since the price and the quality of the beer will escalate the sales of it. Activity 3 Household income is the major indicator of the distribution of income of New Zealand. The sources of data like Qualification and occupation shed critical light on the socio-economic level of the Northern Territory. One fact that is important to note in the case of Northern Territory is that income is not the same as wealth. For instance, the high number of retired people in the Northern territory forms the bulk of Household income with low income but they have significant amount of wealth. For the purpose of assessment of household income, it should be viewed as a combination of Household composition and age. There are higher numbers of high income earning group compared to low income earning group. Around 23.8 % comprised of high income earning group (Bray, Gray and Katz 2014). The income of an individual depended on status of the employment, age, qualification etc. The retired people will receive less income. The demographic of the Northern territory and the age pattern of the popu lation has to be studied to understand the income distribution of the place. Activity 4 On evaluating the web services of three fast moving consumer goods company; namely Bega Cheese Company, Coca Cola and Goodmand Fiedler, it was observed that these companies followed the segmented marketing approach. The segmented marketing approach is a systematic approach that these companies adopt as they segment the market into different categories and make the products available for the market depending on their needs and requirements. On evaluation of their market approach, it could be seen that Coca Cola has the most systematic market segmentation approach, followed by Bega Cheese and then by Goodman Fiedler. Coca Cola uses multi-segmenting, which is based on different segments of the market. The company aims at different age groups, ethnicity, lifestyle, income group etc. as a part of the market segmentation policy (Coca-cola.com 2016). This gives the company a clear edge over it rivals. Bega Cheese has a segmented marketing approach. It responds to the market demands based on the different segments it aims to address (Bega.net.au 2016). Depending upon the requirement of the market, and the demographic and geographical location, the company produces cheese and other dairy products. Goodman Fiedler also follows segmented market approach (Goodman Fielder.com 2016). There are certain recommendations that these companies can use to improve its market segmentation. One of this could be investing more in secondary research to have a better understanding of the market. These companies can further break the market segmentation into behavioural segmentation and market their products accordingly. Improving their products or upgrading their products can also be used for improving their market segmentation. Activity 5 The worldwide demographic trends tend to offer business opportunities to various organizations. The population explosion and increasing rate of population growth will mean that that businesses have to increase their production scale and in the process it will increase the profitability of the company. It will mean that the business will have to increase their product portfolio and will have to produce more commodities that will meet the needs and requirements of the consumers. The cultural diversity in a population will present new opportunities to the business to increase their production and introduce diversified products in the market. At the same time, there major rise in urbanisation will lead to rise in fast moving consumer goods. At the same time, the age pattern in the demography of a place will lead to an increase the production scale of a commodity (Leonidou et al. 2013). It can be seen that the health industry is set to benefit from ageing baby boomers. It is seen that the rise in the baby boomers has an important impact on demographic and the health industries is set to majorly benefit from this. The increase i the population of old age people will see improvisation in the technology related to health and medical equipments. The need for better facility of health and social care will lead to improvisation and upliftment of the health and medical industries. Health and medical instruments will seen an increase in the production scale and at the same time the health and nursing industry is seemed to benefit from ageing baby boomers (Leonidou et al. 2013). Reference List Bega.net.au. (2016). Bega Cheese | Real Town, Real Cheese. [online] Available at: https://www.bega.net.au [Accessed 24 Aug. 2016]. Bray, J.R., Gray, M., Hand, K. and Katz, I., 2014. Evaluating new income management in the Northern Territory: final evaluation report.Social Policy Research Centre, University of New South Wales. Coca-cola.com. (2016). Coca-Cola Global: Soft Drinks Beverage Products. [online] Available at: https://www.coca-cola.com [Accessed 24 Aug. 2016]. Goodman Fielder. (2016). Home - Goodman Fielder. [online] Available at: https://goodmanfielder.com/ [Accessed 24 Aug. 2016]. https://www.beeradvocate.com Beers Union Export Brewery, (2016). [online] Available at: https://www.beeradvocate.com Beers Union Export Brewery [Accessed 24 Aug. 2016]. https://www.nestle.com.au. (2016).Home. [online] Available at: https://www.nestle.com.au/ [Accessed 24 Aug. 2016]. Leonidou, L.C., Kvasova, O., Leonidou, C.N. and Chari, S., 2013. Business unethicality as an impediment to consumer trust: The moderating role of demographic and cultural characteristics.Journal of Business Ethics,112(3), pp.397-415. Solomon, M.R., 2014.Consumer behavior: Buying, having, and being. Engelwood Cliffs, NJ: prentice Hall.