Week 1 discussion questions-Marketing Essay Example | Topics and Well Written Essays - 500 words

Week 1 discussion questions-Marketing - Essay Example For instance, if a company is attempting to increase its sales volume on its hairspray line, the company must understand what makes the customer want their brand over the competition. If a noticeable trend exists which indicates that consumers have stopped buying a firms product, they must understand what factors (both internal and external) have created this sales slump. Are consumers not buying because they believe their friends have suddenly begun demanding high dollar hair products? These are important factors to consider, as a company must routinely monitor trends in buying behavior to provide a product which consumers will adopt. Competitive techniques to appeal to sophisticated customers include visually appealing, contemporary promotional advertisements and continuous monitoring of various trends in consumption. Using modern appeal, such as advertising on portable technology and the internet, are attempts to capture increased interest in complex markets. 2. What are three aspects of your lifestyle that are different than your parents’ lifestyle? What impact does this difference have on the strategies organizations use to market to you compared to your parents? The primary difference in lifestyle would consist of the methods by which we socialize and view our friendships. My parents are more traditional in their viewpoint regarding what constitutes a quality relationship, believing in the comfort of long-term acquaintances. In opposite respect, I tend to be more spontaneous, willing to make many new friends in the pursuit of finding more excitement through social activities. An additional difference includes my current financial situation, which is substantially lower than that of my parents. Further, my parents are more laid-back, content with a lifestyle consisting of the majority of their time spent at home. In opposite respect, I enjoy a more active