Research and discuss the theory of "needs"
Analyze how needs fit within the stages of the consumer behavior model. (Note: Discuss either the consumer or industrial model, whichever applies to your product/service.) This section of your paper is general background research.
Provide a quick overview of the product or service you created.
Even though you have "created" a product or service, it makes sense to research real companies and products that might be considered competitors.
The product I would create is an on-the-go cereal and milk product that contains both products in separate compartments that when ready to use, can be combined through a simple procedure such as peeling a strip or cracking a harder section next to a softer section. I have no idea how this could be done. But for a product this has appeal to many different types of people. The most obvious would be children who need breakfast. When they are running late or need to take it with them this would be ideal. The cereal is housed in box with waxy lining, much like the small boxes are currently and when the strip is pulled to open the box the milk (something like Parma lot or soy) is released into the cereal.
Adults on the go would like this as well. They could carry it and eat it on the train or bus or once they get to work. Some people eat cereal as a snack and this would be ideal. Older people also like to buy individual products so this would be a good target market. Cereal is becoming more important for health reasons, whole grains, as a replacement for cookies and other sugar snacks. The cereals can be current types. There could be sweet, fruit included or just grains. The possibilities are endless. While there are a number of products that are carrying along, you still have to buy the milk and get the bowl and the spoon. This way (if you include the spoon on the package) you eliminate all of the pieces to one piece and conveniently all together.
Specify your target market. Provide a demographic profile and rationale for this decision. Another source that may help you: The US Census Bureau's American Fact Finder. Consider the size of the market and its purchasing power.
Analyze your competition. Who are they? Who are the biggest players? How large is the market? How does your product/service fit in? Hoover's Pro in the Library may be able to help you with research in this area.
As discussed in the previous posting that we are going to introduce a unique ready to eat/drink healthy product. This is a new product called "Cereal o' milk", a combination of milk and cereal. This is made of high quality cereals and milk best suited for kids and adult alike that will surely meet the ever growing demand for ready to eat healthy snack food. The product will be reasonably priced.
Purchase decision process:
The purchase decision process is the stages a buyer passes through in making choices about which products and services to buy. :
Now we will understand the needs of our consumers. There are five stages of consumer behavior :
1. Problem recognition,
2. Information search,
3. Alternative evaluation,
4. Purchase decision, and
5. Post-purchase behavior.
Consumer decision making and motivation is explained by the theory as being a factor that ranges from low involvement to high involvement. A person that is highly involved will tend to closely examine each of the statements made, and will not just accept information as factual. Rather, they will challenge statements that disagree with their position. In this situation, the persuader must present strong issue-relevant statements, leading towards the position they would like their audience to hold.
A person of low involvement will probably remember how many statements were presented over the actual statements themselves, processing in the peripheral route. In this situation, it will be more important to focus on buzz words or simple ideas that will catch their attention, as peripheral cues will typically be all that is processed and remembered. Simply having an expert source that is viewed as credible can have a huge effect, because, according to the theory, speaker credibility will be more important than specific data in the messages. Level of ...
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