StudentShare solutions
Triangle menu

Luxury and convenience commodities - Assignment Example

Not dowloaded yet

Extract of sample
Luxury and convenience commodities

Now the building up of the habit to gain access to such convenience products happens to cite different alternatives or substitutes of such products to the consumer. The consumer of convenience products in addition to building up a relationship with the product category also tends to reflect a passion for a certain brand relating to the same. However in absence of the specific brand of such convenience product the consumer in the light of other possible alternatives tends to frequently switch over to other available brands. Hence the marketer of the brand of such convenience product needs to develop strategies to attract and sustain the consumers of such products in the global marketplace. The marketer needs to further understand that the total gamut of convenience products available in the marketplace can be generally sub-divided into three parts like Staple, Impulse and Emergency. Staple type of convenience products are refereed to such that tend to reflect a very large availability in the market like grocery commodities and even merchandises like petrol and diesel. Again Convenience products are categorized as being Impulse type where the consumers tend to get largely impulsive in gaining the same from market outlets. Thus commodities like chewing gum or chocolates are categorized as impulsive buys for they do not involve greater amount of planning. Similarly regarding Emergency products like safety aids, bandages and other repair and maintenance utilities and even medicines consumers desire to gain ready access to such in times of sudden needs. Thus in all the three categories of Convenience products it is observed that people procure such by chances or in needful situations thereby spending less time in planning and taking decisions (Baines, Fill and Page, 2011, p.294-295). Like convenience products where the marketer must focus on making every possible attempt to enhance the brand awareness of the same with the targeted consumers to reduce the chances of switching over to other lower price alternatives strategies are also required to be in place for luxury or high priced merchandises. Consumers of luxury or high-priced products would not go for availing the same without rendering adequate planning. Consumers on the other hand would require gaining a large amount of information relating to the same before finally deciding on to purchase it from the market. Information gained substantially would help the purchaser in making adequate plans to gain the same. Thus herein the marketer is required to reinstate the benefits and advantages related to the brand of such luxury product in question to effectively lure and sustain the attraction of the person to the particular brand (Baines, Fill and Page, 2011, p.296). Management of Online Branding Activities for Luxury and Convenience Products With the development of internet and possibly of social networking platforms the marketing activities of producers and marketers of both convenience and luxury commodities have gained far flung changes. Marketers of such products have come to acknowledge the fact that the emergence of internet has contributed to the birth of a global marketplace wherein a large number of consumers and buyers are found to mutually exist for different categories of products. Herein the online marketer in order to ...Show more

Summary

Week 6 Discussion Contents Contents 2 Luxury and Convenience Commodities 3 Management of Online Branding Activities for Luxury and Convenience Products 4 References 7 Luxury and Convenience Commodities The discussion commences from the identification of consumer goods in convenience and luxury categories…
Author : shadprohaska
Luxury and convenience commodities essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the assignment on your topic
"Luxury and convenience commodities"
with a personal 20% discount.
Grab the best paper

Related Essays

Advise UK Commodities
Incoterms are a series of rules that regulate international commerce, and they are enacted by the International Chamber of Commerce.The main purposes of these rules, is to give information on the tasks, risks and costs associated with the delivery and transportation of the commodities.
6 pages (1500 words) Assignment
Christian Dior's existing and recommended luxury brand strategies
.... 3 1.1 Significance of the Project .................................................................... 3 1.2 Main Purpose and Research Objectives ............................................... 4 2. Literature Review ..................................
15 pages (3750 words) Assignment
Strategic Management and Marketing for the Luxury Goods Vivienne Westwood
311) Can Kapferer and Bastien (2009) be blamed for exaggerating a particular phenomenon? Probably not because growing demand for luxury products like clothing, jewellery, cars or even house hold equipments is substantiating the claim of Kapferer and Bastien (2009).
13 pages (3250 words) Assignment
Goyard, Luxury Handbags
Goyard products are luxury brands meaning that the production of its products for sale may be through the placement of orders and not on shop sales. Under the guidance of Morel Maison, Goyard mainly dealt in the production of leather trunks for the Duchess of Berry hence making his products to serve royalty. y.
6 pages (1500 words) Assignment
The Propaganda of Commodities
is created for better things.”(431)In the consumer market impacted by industrialisation and internet revolution, the entire world is one market for the goods manufactured in any country. Goods are sold through catchy slogans, colourful handouts, imaginative and informative
1 pages (250 words) Assignment
Week 6 discussion
Again being habitual purchasers these people focus on spending less amount of time in taking a subtle decision relating to the effective procuring of such convenience items. Now the building up of the
4 pages (1000 words) Assignment
Luxury Retail Development in Hong Kong and Macau
The paper will seek to address how marketers influence consumers to purchase their products. It will state how marketers introduce new products and services, and even how marketers ensure modified products remain competitive. The paper will answer why marketers encourage consumers to be loyal to their.
7 pages (1750 words) Assignment
Situating convenience
The substitutes are not moving in terms of sales as it takes some time for them to be supplied. Rice is supplied frequently after some time, as it is more competitive than the substitutes like spaghetti. The location of this product in the store enables
2 pages (500 words) Assignment
Key Success Factors for luxury good industry
Many people who are interested in the luxury industry look for goods that have well-established and respected brand names. A product’s brand name is very important to people for because of the respect and confidence they
2 pages (500 words) Assignment
Porter s 5 forces analysis for luxury good industry
These buyers buy very infrequently and so they are not necessarily attached to one product. However, the advantage to the firm is that the buyers are attached to the brand because the brand is as important, or even more important than the
3 pages (750 words) Assignment
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation