Consumer Behavior Case Study of Graves Enterprises
Abstract
Graves Enterprises is a maker of consumer and commercial grade floor care products. The new vice president for Graves Enterprises is responsible for doubling sales in both the consumer and commercial markets within the next year. The new findings of an extensive research suggested that the target market is homeowners, females 29-59, with a household income of $75-$150K. Consumers and businesses use defined processes for making purchasing decisions. They are two different markets with different processes for making purchasing decisions. “Within the business world, the decision-making process—unlike that of the consumer—is marked by the inclusion of many people” (Weekly Lecture, 2009, p.3). This paper analyzes the summary created by the marketing directors of Graves Enterprises which covers the consumer purchasing behavior and business purchasing behavior as it relates to their perspective markets.
You Decide
Consumer Behavior
Knowing what you do about consumer behavior and purchase patterns, as shared in our Kotler text, what are your thoughts about the Consumer Products Proposal? Will it work? Why or why not? It is important for Graves Enterprises to determine the wants and needs of the consumer market. Graves conducted primary and secondary research to determine the wants and needs of the targeted consumer market in hopes of doubling sales in the market. This is a new product line that is vulnerable without proper research. “Many new products that are launched each year fail miserably” (Weekly Lecture, 2009, p.3). The comprehensive market research performed by the marketing director has hopefully provided enough insight to avoid costly mistakes later.
In looking at the report, the new pricing of the new product line, which is promoted as safe, effective, and eco-friendly, is probably much more than the consumer is willing to pay and may not work. An intervening factor in the consumer’s decision to purchase the eco-friendly product is the
Graves Enterprises is a maker of consumer and commercial grade floor care products. The new vice president for Graves Enterprises is responsible for doubling sales in both the consumer and commercial markets within the next year. The new findings of an extensive research suggested that the target market is homeowners, females 29-59, with a household income of $75-$150K. Consumers and businesses use defined processes for making purchasing decisions. They are two different markets with different processes for making purchasing decisions. “Within the business world, the decision-making process—unlike that of the consumer—is marked by the inclusion of many people” (Weekly Lecture, 2009, p.3). This paper analyzes the summary created by the marketing directors of Graves Enterprises which covers the consumer purchasing behavior and business purchasing behavior as it relates to their perspective markets.
You Decide
Consumer Behavior
Knowing what you do about consumer behavior and purchase patterns, as shared in our Kotler text, what are your thoughts about the Consumer Products Proposal? Will it work? Why or why not? It is important for Graves Enterprises to determine the wants and needs of the consumer market. Graves conducted primary and secondary research to determine the wants and needs of the targeted consumer market in hopes of doubling sales in the market. This is a new product line that is vulnerable without proper research. “Many new products that are launched each year fail miserably” (Weekly Lecture, 2009, p.3). The comprehensive market research performed by the marketing director has hopefully provided enough insight to avoid costly mistakes later.
In looking at the report, the new pricing of the new product line, which is promoted as safe, effective, and eco-friendly, is probably much more than the consumer is willing to pay and may not work. An intervening factor in the consumer’s decision to purchase the eco-friendly product is the
References: Kotler, P., Keller, K. L. (2009) Marketing Management. Thirteenth Edition. Prentice Hall Weekly Lecture (2009) Beginning the Journey…Lecture