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The Use of Values, Attitudes and Lifestyle Systems (VALS) Typology and List of Values (LOV) Typology in Creating a Market Research Tool for Predicting Consumer Behaviour for Electric Bicycles Author’s Name Authors School The Use of Values, Attitudes and Lifestyle Systems (VALS) Typology and List of Values (LOV) Typology in Creating a Market Research Tool for Predicting Consumer Behaviour for Electric Bicycles Electric bicycles or e-bikes are the rage today in terms of being the most promoted means of transportation, especially in urban cities.
Many enterprises jumped in on this opportunity and took on local manufacturing of e-bikes, importation and selling of e-bikes and other related industries. The challenge for these businesses is how they will stay afloat as the number of competition rises. In venturing into a business, one must first do a strategic planning and come up with a feasibility study or business plan so as to guide the direction of the business and so that the proprietor can easily remove or dodge certain barricades that may impede in the establishment and growth of the business. One major component of the business plan is to get to know your target market and that can only be accomplished through the analysis of consumer behaviour (Gundlach, 2007). For a business to grow and rise above its competition it needs to occupy a unique niche in the hierarchy of consumer needs that only they can provide – may it be the quality, quantity, or kind of service, quality, quantity, or kind of products or both. ...
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