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9 pages/β‰ˆ2475 words
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Style:
APA
Subject:
Business & Marketing
Type:
Research Paper
Language:
English (U.S.)
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Date:
Total cost:
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Topic:

Different Consumer Buying Behaviors

Research Paper Instructions:

-six-page consumer buying behavior report (excluding cover page, reference list, tables, graphs, and exhibits) explaining your findings on consumer needs, wants, and preferences in these markets. Make sure that your report is specific to consumers of ACME’s potential product and not to consumers in general.
Your analysis should consider both current and potential product users and should address the following questions:
What needs are being met by the product purchase? What are the benefits to the consumers? Make sure that you differentiate between features and benefits; go beyond manifest motives and consider latent motives.
Who is involved in the purchase process? Who are the influencers? Who are the buyers? Who are the end users?
Where are the products sold, and what are the distribution channels?
How often are the products purchased? Is there seasonality to sales?
Support your work with the course readings
-Based on your research of consumer needs in our main markets, describe your value proposition, or the benefits that ACME and its potential new product would provide to customers. Remember, a value proposition is essentially the promise that is made to the customer. Also provide a half-page recommendation to ACME on whether or not to manufacture that product.( total one page)
Support your work with the course readings, scholarly sources, and reliable nonscholarly sources
Combine the first two deliverables into a single report
-prepare a one-page executive summary (following the cover page) that highlights the most important findings of the report.
Your final report to Erik should be eight to nine pages, excluding cover page, executive summary, the reference list, and appendices. Any graphs, tables, and figures should be included as appendices. Your report should have one-inch margins and be double spaced in 12-point Times New Roman font. The report should be organized using headings and subheadings to improve its readability.

Research Paper Sample Content Preview:

Consumer Buying Behavior Report
April 14, 2020
UMGC MBA 640 9044
Executive summary
ACME is a company focused on the appliance industry, where it aims to introduce automatic washing machines in markets in the United States, Germany, and the United Kingdom. To effectively join these markets, it is crucial for ACME to comprehend the customer buying behaviors and needs and wants as this would have an impact on the success of the firm in the industry. Additionally, meeting the specific needs of the potential clients would also determine the future success of the firm. Some of the needs that the washing machines should satisfy may include meeting laundry requirements with minimal user interventions; this would be achieved through using sensors that would help in regulating water intake and temperature. Besides, it was found that different individuals are interested in washing machines made of different materials such as plastics and stainless steel; ACME should, therefore, meet these customer requirements.
Additionally, ACME’s washing machines should offer various benefits to the customers, scrubbing stains with ease, saving electricity, and minimizing noise. Additionally, some of the essential features that the product introduced to the market should meet include security measures to secure the children; this can be achieved by implementing locks to ensures that minors cannot interfere with the washing machine. Additionally, the mini doors would also help the users to add items to the washer when washing has already started. Some of the distribution channels that may be used in the market include ensuring manufacturer-to-customer and other intermediaries such as wholesalers and retailers can also be involved to makes sure that the product is taken near the customers.
Introduction
Understanding customers based on their needs and wants is essential for all marketers and organizations because it helps in establishing measures to ensure that the products produced satisfy the requirements of the potential customers. It is critical to note that when firms become aware of what their customers want, it becomes possible to gain competitive advantages against the competitors. ACME is mainly focused on producing automatic washing machines for its customers; in this instance, it would be crucial to determine the various features that customers evaluate when buying these appliances and ensure that they are all evaluated during production to ensure that the needs of all the customers are met. Ideally, it is crucial to address the material used; this is critical since different customers are interested in machines made from various materials such as plastics and stainless steel, among others (Gillespie, 2017). Besides, it is necessary to determine how other elements, such as wash settings and temperature control, may affect customers’ buying habits. This report assesses ACME’s consumer needs that are met by an automatic washing machine and the benefits that this appliance offers to the customers; besides, the report also evaluated the parties involved in the purchase process, the distribution channels used and the how the product is purchased.
The United States
Needs and benefits of automatic washing machines
Updated on
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