mini sim
Values are a major driver of consumer behavior; therefore, understanding and researching a consumer's values is an important part of a company's ability to be successful in developing marketing strategies.
Includes nine consumer segments based on the values members endorse and relates these segments to differences in consumption behaviors: list of values Identifies a set of terminal values and a set of instrumental values: rokeach value survey Surveys that are done to track changes in values: syndicated Assumes that people link specific product attributes to terminal values: means end chain
In your next meeting with the director, she says, "The Hero category makes the most sense considering how many of our consumers are marathon runners who triumph over adversity to win, or at least complete, the race and inspire others to do the same. Inspiring others makes them feel like they have made the world a better place." She then says, "We want you to use brand storytelling in our advertising to help increase sales." Which of the following options best uses the approach of brand storytelling?
Recommend an advertising campaign that talks about how the company was started by three friends who met in college and, after years of trying, developed an exceptional running shoe.
You meet with the director to inform her of your recommendation on how to segment the running market and to target serious runners. She says, "Now that we have decided to target serious runners, I'd like you to consider possible co-branding strategies." Which of the following options is the best recommendation for a co-branding strategy?
Recommend to co-brand with healthy snack bars.
After a few months you meet with the director again. She says, "Unfortunately, our motivation and personality approach has seen mixed results. It may still work, but the owners of the company would like to try a lifestyle marketing perspective next." She continues, "The following is recent market research results that describe our consumers. Using lifestyle segmentation, we would like you to come up with the best segmentation approach. Keep in mind that we think that sticking with the Hero archetype is important." Runners, on average, are highly educated and have a household income level of $75,000. Casual runners make up a portion of the target market. They run in local marathons and half marathons. They enjoy eating healthy foods, but are also known to eat fast food and ice cream on occasion. Finally, casual runners enjoy socializing with fellow runners and will often run in pairs or groups. Serious runners make up the other portion of the market. They run in national and global marathons and are seen as an inspiration to the rest of the running world. They are careful about eating only healthy food and rarely if ever eat fast food or nonhealthy treats. Finally, serious runners, altho
Recommend to target serious runners.
She says, "Over the past year, we have noticed a change in what our consumers value most. In fact, since we started this company several years ago we have noticed that some of the things our target consumers value can change quite rapidly, and we are having a hard time keeping up with understanding these changes." She continues, "I would like you to come up with a recommendation on how to track these changes in a proactive manner." What would you recommend as the best option for keeping up to date on how Bolt's core consumers' values change over time?
Recommend to use a syndicated survey.
The director asks to speak with you. She says, "It appears that the results of the research were inconclusive. We need to determine a better way to understand our consumers' motivations." Which of the following options is the best method of research to help Bolt understand its consumers' purchase motivations?
Talk in depth to a few consumers for an extended period of time.
What method of research do you think would best help Bolt understand its consumers' purchase motivations?
Talk in depth to a few consumers for an extended period of time.
After researching consumers' underlying motivations for purchasing Bolt's running shoes, you find the following results. Most consumers are motivated to buy Bolt's running shoes because they feel that the shoes help them reach their running goal. This, in turn, helps them feel like they have more control over their own success and are able to triumph over adversities like completing a marathon. They also feel that by triumphing over adversity and facing challenges, they inspire others do do so as well. After sharing this insight with the director, she says, "I think we can use this motivational research result to develop imagery in our advertising that will really connect with our consumers. We can best do this if we better understand how this underlying motive fits into Mark and Pearson's Brand Archetypes. Archetypes, as you know, are derived from Carl Jung's work on understanding people's personality and underlying motives." She continues, "I would like you to use Mark and Pearson's Brand Archetypes to categorize our consumers' motivations and personality." How would you categorize Bolt's consumers using the requested archetype framework?
The consumers would fit into the Hero archetype.
The director has some new information for you. "We have recent psychographic research that says our serious runner consumers care about social issues, usually work to support their running, and when they are not running or working they like to spend time with family." She continues, "We are not quite sure how to frame these new insights in order to properly understand them. We would like you to help us with this by using activities, interests, and opinions as categories." What would you recommend as the best way to categorize or frame these new consumer insights by using activities, interests, and opinions as categories?
You recommend the following: Opinions: They care about social issues. Activities: They usually work to support their running. Interests: When they are not running or working, they want to be involved with their family.
