Effects of Product’s Perception on Consumer Behavior
Demonstrate consumer behavior concepts with a practical consumer product. The board of directors and the president of John Deere have hired you as a consultant to look at their line of consumer products and lawn equipment. They are aware the demographics of homeownership are changing and they would like to position their entire consumer product line to address older consumers who are just retiring at the rate of 10,000 potential consumers per day, changing ethnicity of homeowners from Caucasian to Afro-Americans and Hispanics, and market to female buyers. Before starting this assignment, be sure to go to this site to see what John Deere markets under the heading of consumer products. You may be surprised at the width and breadth the consumer products John Deere has available for sale. https://www.johndeerestore. John Deere offers a very good credit program and has excellent resale value for used equipment you should leverage in your consultant assignment. Specifically your consultant assignment is to keep the current consumers that are traditionally Caucasian males and expand the consumer marketing to sell all the products/services to new retirees, home and acreage buyers with different ethnicities, and sell products to females. The John Deere brand name is very strong and will not be changed. You want all of these consumers to think of the advertising slogan, “nothing runs like a Deere!” and have them willing to pay a premium price for a premium product. It is your decision whether you have one modified marketing message or multiple marketing messages for these new consumer-marketing segments. Your response must be complete and focus on the assigned topic, using terminology, and concepts presented in the primary textbook as well as supplementary resources. The normal length of the Mid-Term will be 4 to 6 pages of text range. Write in complete sentences, use good grammar, double-spacing, Times New Roman 12 point font, and with one-inch margins on all four sides of the text. Be sure to cite your references in the text of the Mid-Term and provide a list of references at the end of the paper using APA format. Assignment Outcomes
|
In the modern world, globalization and the high rate of competition have led to the demand for business people to consider consumer behavior while producing and marketing their products to survive in the market. Consumer behavior in this concept refers to the consideration of how individuals, groups, or organizations choose, buy, consume, and dispose of the goods and services in the quest to satisfy their needs and wants. In other words, consumer behavior is the action taken by buyers in the open market and their intention concerning such actions. In this regard, consumer behavior concepts are very critical as they lay a basis for the actions that a company ought to take in maintaining the older customers and gaining new clientele. The purpose of this paper is to discuss the consumer behavior depicted in relations to the consumer products and lawn equipment in John Deere Company. With the changing demographics of homeownership, John Deere aims to position their entire consumer product line to address older consumers who are just retiring at a high changing ethnicity of homeowners from Caucasian to Afro-Americans and Hispanics, and market to female buyers (De Mooij, 2019).
In consideration of the changing demographic homeownership, John Deere consumers are aiming to assume a comprehensive line of inventive products and service proposing. In this case, a brand extension which covers the new segment of demographics is vital. Various factors are emerging which requires that the consumers are kept aware of the noticeable aspect of the brand failure to which they opt to shift. Such factors include different marketing segments, changes in cross-cultural aspects, and demographics. With this in mind, John Deere is adapting its identifier to include a broader base which covers the changing American society, families, subcultures, social stratification, and demographics (Shimp, 2010). The decisions for consumer purchases are dynamic and ought to be taken care of. In any case, consumers play a great role in sustaining a business enterprise and hence have to be taken care of. The marketing decisions are also based on the assumptions about consumer behavior. In this regard, this paper examines the factors that will influence the purchase decisions for lawn equipment and agricultural tractors from John Deere by cross-cultural consumers and female buyers. Some of the important factors include the brand name, horsepower, subvention, maintenance, among others. Consumer behaviors depict the behavior that the consumers display in consumption of goods at the purchase, using, and disposing of. In other words, it concerns what consumers buy, how often, when, why, where, and their evaluations after purchase. In this regard, understanding consumer behavior is critical in determining marketing processes effectively.
Consumer Behavior
Consumer perception of a product or brand image is vital, especially in the marketing process. In this context, it refers to the marketing concept which incorporates a client’s impression and responsiveness about an organization and the goods and services it offers. It is influenced by assessments, advertising, social media, public relations, and personal experiences. Owing to the expansion of industrial equipment in the contemporary market economy, brand variety of this equipment is deemed to face a resilient rivalry in the United States, so consumer-based brand research on the industrial equipment is vital. A study is necessary to understand and focusing on the Americans consumers’ perception of the brands of John Deere products and services (Hawkins & Mothersbaugh, 2016). Firstly, John Deere has a strong brand image and this has remained the most important source of competitive advantage in the market. Most of the consumers perceive the brand as the producer of quality equipment and hence have trust in their products. Nonetheless, in recent years, Deere’s products have declined in their sale rate by facing stiff competition from other firms. Firms such as Dong Fang Hong of China and Shi Feng have gained a wider market share over John Deere. According to Tidd & Bessant (2018), consumers alongside considering the quality of a product, they also consider the prices of such products. As a result, the lower prices for these firm’s products have made Deere to lose a high number of clients. In this concept, we also consider brand price perception which refers to how expensive the consumers feel the brand is. According to a survey by De Mooij (2019), John Deere’s products were considered to be the second most expensive after New Holland. With the emergence of other cheaper brands in the international markets, such as Tai Shan, the consumers of John Deere indicated a high level of the shift to other brands which opted Deere to review the marketing strategies.
