- With the intention of executing the marketing concept, market players need knowledge on the features, desires, wants and needs of their target markets. Sampling is one of the methods of collecting such information that chooses representative units from an entire population (Franses & Paap, 2010). There are several types of sampling methods such as random, stratified and quota sampling. Sampling collects information from a large pool and uses it to make deductions on how the rest of the market will react. Other ways through which NUMI can collect information is through surveys, emails and records from media companies. One method of maintaining exclusivity is by reducing the production rates for that product. By reducing production, the company can make the product scarce and increase its demand.
- Planned obsolescence can be defined as the manufacturing of a product having a limited shelf life so that it becomes ineffective after a short period. Businesses exploit customers by developing products with low quality materials, poor standards and inferior engineering. Common products that are affected by planned obsolescence include children’s toys and electronics. Products that have a short shelf life are crucial to a company as they generate regular purchases among customers. If handled with the proper public relations, products developed under planned obsolescence programs can act as a steady source of revenue for a company.
- The adoption rate that is influenced by complexity is when the customer has a hard time comprehending its mechanisms. A small number of products having a low adoption rate because of their complexity include HDTV products, automatic dishwashers and Blue Ray DVD technology. Compatibility emerges when consumers find it difficult to integrate products with other household goods. These products may include coffee makers and vacuum cleaners. The relative advantage of a product refers to its benefit compared to other rival brands (Grabec, 2009). Examples of products affected by this phenomenon include supplementary goods such as butter and margarine. Products at the maturity stage include car parts such as tires and engines that are currently being reinvented instead of being disposed. This is because they are already operational and the only improvements serve to increase efficiency, lower wear and tear and reduce the cost of raw materials.
- J.C Penney Company can increase their marketing mix by developing segmented marketing that would reach out to all societies in ways that are most significant to them. Advertising should be customized into local dialects and phrases that the market in which they occupy can understand. The White Rose Laundries faces a problem of advertising to a particular market segment. The company targets white-collar customers, and most of them cannot get wind of the services offered by White Rose. This challenge is also faced by non-profit organizations that seek out ready sponsors.
ReferencesTop of Form
Bottom of Form
Top of Form
Franses, P. H., & Paap, R. (2010). Quantitative models in marketing research. Cambridge: Cambridge Univ. Press.Bottom of Form
Grabec, I. (2009). Sampling techniques and data collection: Optimal compression of statistical data by minimization of information cost function. Program and Abstracts.
Top-quality papers guaranteed
100% original papers
We sell only unique pieces of writing completed according to your demands.
We use security encryption to keep your personal data protected.
We can give your money back if something goes wrong with your order.
Enjoy the free features we offer to everyone
Get a free title page formatted according to the specifics of your particular style.
Request us to use APA, MLA, Harvard, Chicago, or any other style for your essay.
Don’t pay extra for a list of references that perfectly fits your academic needs.
24/7 support assistance
Ask us a question anytime you need to—we don’t charge extra for supporting you!
Calculate how much your essay costs
What we are popular for
- English 101
- Business Studies