Marketing

1. B2C Marketing: Give one example of a recent purchase where the specific purchase situation influenced your purchase decision. Briefly explain how your decision was affected. What needs (based on the PSSP pyramid of needs) did your product/service address.

2. Name one example for each: a) a company that sells only consumer product, b) a company that only sells business-to-business products or services and c) a company that sells both – consumer products and B2B products/services. Please don’t name product categories, such as shoes, name specific examples of brands/companies, such as Apple, The Coca-Cola Company, etc.

3. Explain psychographics / lifestyle analysis (what it is) and its purpose for marketers. Give an example of how a company can use it for its marketing.

4. Social influencers impact the purchase decision making of consumers. This can be family members, friends, colleagues, or influencers on social media channels. Give an example of a brand that successfully uses social influencer marketing. Which type of influencers does the brand engage with and how does the collaboration look like to consumers who follow the brand on social media channels? Bonus points will be given when you provide examples of influencer posts for the selected brand in social media channels (screenshots or links).

ANSWER

Marketing

An example of a situation where I bought something because of the purchase situation is recently online listening to music on YouTube then there was this advertisement of a master class that could help with studying, maximize memory and avoiding procrastination. I ended up paying for the class. Initially, I did not think I needed the class but by the end of the advertisement, I was ready to sign up and learn.

An example of a company that sells only consumer products is Pepsi that manufactures soft drinks. An example of a company that only sells business to business products or services is SolarCity that produces solar cells and lithium-ion batteries for Tesla Inc. An example of a company that sells both consumer products and B2B products/service is Microsoft that supplies software technologies to business as well as final consumers.

Psychographics is a method that describes human traits from psychological factors and then is applied to determine interests, opinions, values, attitudes and personality. An application example is situating a gym in an urban area that is equipped with food delivery and other conveniences as it is expected that the dwellers of such a place will be more inclined to sign up with the objective to stay healthy.

Social influencers are common on social media. A good example is in sports. Nike has been using extemporary sportspeople like Eliud Kipchoge, the Kenyan marathoner to market its brand across the world. In the late 90s, Michael Jordan also was a social influencer for the same company with the Nike Air Jordans that are still popular to date. An example is https://youtu.be/n-f8udP21Jg which is a link to ads running from 1986 to 2002 involving Michael Jordan.