Assignment

on

Consumer Buying Process of a Particular Product

Prepared For:
Asma Ahmed
Course Teacher
FNB 205
Principles of Marketing

Prepared By:
Saima Binte Ikram
ID: 1640, Batch: 10th

Date of Submission:
28th February 2021

Department of Finance and Banking

Faculty of Business Studies
Increase the product line to cater to new segments and availability of the products in the outlets.
For instance lady footwear.

2.) How to compete with Nike being its competitors( Adidas):

  Reducing the prices of the product without compromising the quality at
the same time.
 Focusing on marketing and promoting the product in the market.
 Signing the contract with sports celebrities or athletes to advertise their
product by overpaying in comparison to what Nike pays.
 Increase the product line to cater to new segments and availability of
the products in the outlets. For instance lady footwear.
 This credibility will be founded on the creation of a product line of smart
shoes and show consumers that Adidas is humorless about creativity
and the use of technology to advance athletic achievement in the long
run. Like shoes with GPS, microprocessor, sensors, and tiny motors
along with memory and battery, athlete’s body temperature,
environment temperature, and athlete’s heart rate

Nike has been in control of worldwide supply of sportswear and therefore a strategic plan is
needed to compete effectively. some of the measures that i would lay down to ensure that Adidas
compete effectively with Nike includes the following:
Rebranding Adidas
- this can be done by placing scouts in different places in the world. This sc
outs will be on the lookout for the most promising young sportspeople. Adid
as should then fully sponsor these youngsters. This will ensure that the nex
t generationof plyers will be under Adidas and therefore increasing its popul
arity.

1. Improving the relationship between the company and the players. Thi
s can be achieved by ensuring that the company is offering better ser
vices and being more concerned with the welfare of the players. The 
company can for example launch a program where it will carter for all 
medical expenses of the players. this will attract more sportspeople to 
the company
2. The company should merge with other smaller clothing line companie
s to produce better quality sportswear and innovate shoes that the      
   players will prefer to Nike's shoes. 
 3. the company should also organize events such as rewarding players. 
such events will attract more players in the company. during
such events the company gets a chance to interact with the players a
nd may end up signing these players. This will be a significant move i
n       ensuring that Adidas compete favorably with Nike.
4. Adidas should be aggressive and ensure that the company covers m
ajor tournaments such as The Olympics. This can be made stronger 
by      merging with other sports oriented companies such as coca col
a. such moves will increase the popularity of Adidas
5. the company can also produce other outfits to be worn while one is
not playing or training. this will ensure that the company's produce
covers all and therefore increasing its sales.

Target market means a market which includes the class of potential

individuals to whom an entity
wants to sell the services and products. The group of individuals also
comprises of particular
customer towards whom an entity direct its trading strategies.
It is important for a company to recognize its particular market and develop
marketing plans
accordingly. Without recognizing a specific market it would cost the company
a little more money
and time.
Step 2
Pros of BMW target market:
1) They find favorable occasions to take advantage of undeveloped or
insignificant segments.
2) Keeping customer’s requirement as a focal point while designing a product
and customizing the
same accordingly.
3) Hefty engineering and attractive models.
4) Quick accessible service brace.
5) Constant customer base.
6) Created strong brand worth for the company which provide a sense of
believe among the
customers that having a BMW is a mark of luxury and success.

Cons of BMW target market:

1) Restricted revenue options.
2) Restricted growth due to large market selection.
3) Unreachable service center.
Step 3
Every brand faced thrashed revenues during 2008-2009 and BMW is no
special case. BMW is very
much particular about their segmentation plan, but the economy fall over
cannot be considered as a
sole proof of the segmentation strategy.
The basic principle states that decrease in income leads to decrease in
demand for luxury goods. It is
normal for BMW to encounter a downfall in their sales count and for other
companies as well.
Although BMW should observe how selective they are because limited market
segmentation affects
the extension of the company in terms of profit.
Cons: However, by ending the contract with Woods, Accenture lost its association with the golf identity,
potentially losing its association with a commonly used business tool.

Company ‘A’ was quick enough to respond to the critical issue when the personal
image of their leading spokesperson started degrading. They dropped him stating
that he is no more the right fit for the company.
Advantages of dropping TW are as follows:
• It helped the company to protect their brand image.

Disadvantages of dropping TW are as follows:

• The company can lose its customers who are fans of TW.
• The company has to develop a new campaign as efficient as TW one.
Doing this is not easy.

Accenture was absolutely correct by dropping Tiger Woods as his image had been mutilated in
the market because of its scandals where it was discovered that he had an extramarital affair. 

It was capable enough to spoil the image of Accenture along with if he remained the
spokesperson as the company aimed at satisfaction of its customers. 

But Accenture faced great difficulty in replacing the spokesperson as it involved high level of
expenditure to hire and find a new spokesperson.