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Create a 6 pages page paper that discusses marketing principles of a baby product company.
Create a 6 pages page paper that discusses marketing principles of a baby product company. With the disposable income among young parents, particularly in the UK, the baby care product market is increasing at a steady rate.
The consumer demographics in the market for baby care products in the UK show that an increasing number of kids and young children are taking to using a variety of products which made for themselves to do their activities safely and easily. The purchasing behavior of UK consumers of baby care products in particular is determined by the price elasticity of demand plus a variety of external factors (Cook, 2007). Five senses as outlined below don’t essentially act as the ultimate determinants of purchasing decisions of consumers. In fact, a bewildering array of endogenous and exogenous variables plays a very big role in consumers’ decisions. However, what’s seen, heard, felt, smelled, and tasted matters in the immediate decision-making process. Thus, the family unit is the most basic factor which drives buying decisions for baby products.
The value statement for the baby products can be based on the company’s customer value creation strategy with safety, care, quality, and fun. As a value statement shows, the first word is safety. This key concept has become a very big issue in current times. For instance, Baby Product comes from a variety of sources and a variety of countries. The potential customer must be informed about the level of safety for their kids. The word care carries greater weight because parents and elders care for their kids. Similarly, quality matters because children need quality products. Fun is associated with keeping the kids happy during the playtime. Thus, each baby product must be exciting enough for the kid.
Moreover, a few extensive and serious research studies have to be undertaken to determine the extent of influence on consumers’ decisions .to buy baby products and this should not be limited only to the semiotics but also extended to a study of how brand loyalties are formed even in the absence of any tendency to associate personal preferences of consumers with some product quality.