Rational in Buying Case Study Example | Topics and Well Written Essays - 4750 words

able in Buying - Case Study ExampleThe consumer obviously would akin the personality traits to be that of his own. Characteristics that brands would like to associate with are a sense of dependability, understanding, and caring a friend who is always there to care, respect, comfort, and adore (Brand Personality-The relationship Basis Model, groups.haas.berkeley.edu).It was thought that companies were responsible was the creation of a brand, or its managers and planners, but the reality is faraway from these. Brands are created by ordinary people like us. It is the extent to which it makes sense and the role it plays in a consumers life that builds a brand. There are two questions which should be asked How different are these brands, and how relevant is it to us, as consumers A product becomes a brand not when it gurgles about itself, but when people talk about it. Every single thing that one does builds a brand. 2.0 Executive Summary The three underlying elements of demographic segmentation variables are age, sex and the life cycle. Age is an important demographic variable in brand development and sales, as purchases qualify from one demographic to another. Those in the age group of 12-18 would keep up a different view of a product than those in the 30-45 age brackets. This can change over again with those 50 and above. So, how do marketers identify the necessitate of these age groups, and what are the parameters by which they can gauge the rightfield demographic for expanding their market and brand Today, most consumers are aware of his/her rights and are well informed. Television, newspapers and magazines mystify except contributed to their better understanding of the world around them. Internet has gone a step beforehand in educating and promoting awareness at the click of a button. So... The three key elements of demographic segmentation variables are age, gender and the life cycle. Age is an important demographic variable in brand developmen t and sales, as purchases vary from one demographic to another. Those in the age group of 12-18 would have a different view of a product than those in the 30-45 age brackets. This can change again with those 50 and above. So, how do marketers identify the needs of these age groups, and what are the parameters by which they can gauge the right demographic for expanding their market and brand? Television, newspapers and magazines have only contributed to their better understanding of the world around them. Internet has gone a step ahead in educating and promoting awareness at the click of a button. So knowledgeable is todays consumer that it becomes severe for manufacturers and producers to associate themselves with them. However, there are certain influences that demarcate these demographics, the 4Ps of marketing namely, product, place, promotion, and price. These elements have a direct jolt on a consumers get rationale. In order to understand the topic on a consumers buying ration ale on the three demographics, this paper explores the importance of branding, and the role of the 4Ps in influencing the buying behaviour.. Three age groups are considered for this analysis 12-18, 30-45 and those over 55. The primary objective of this paper will be to research the factors that contribute to consumer buying rationale.