Several artificial intelligence (AI) assistants have come on the market over the last few years. Many started on smartphones; for example, iPhone’s Siri and Google Now for Android respond to user questions and commands (“What will the weather be like today?”; “Add Dawn detergent to my shopping list.”; or “Play jazz music.”). More recently the AI assistant battle moved to the home where Amazon Echo, Google Home, and more recently, Apple HomePod have created speakers with built-in microphones and artificial intelligence. Amazon has been particularly aggressive, thinking that this might simplify shopping—resulting in more customers. They envision commands like, “Order [Continue Reading …]
Frozen food offer consumers convenience, but don’t have a reputation for great taste. The category’s sales have declined in nine of the last ten years. That trend has not stopped some of the players in “Big Food” (the giant companies like Kraft Heinz and B&G that dominate this market). These companies – and some upstarts like Amy’s Kitchen (which uses natural and organic ingredients with great success) are targeting millennials in an effort to revive sales. You can read more about this market in “ Frozen Food Comes in From the Cold ” (Bloomberg, October 27, 2016). Review the marketing strategy planning process model in chapter 2. Give [Continue Reading …]
In chapter 3 we introduce the concept of different generations (for example, baby boomers, and Generation X, Generation Y – also called Millennials). This online article, “ From GenX to Baby Boomers, What Every Generation Loves to Buy ” (Bloomberg Businessweek, October 19, 2016) and the video below describe some of the buying patterns typical of each of these market segments – and some other segments based on income and family life cycle stage. Note that the birth years for Millennials and Generation X in this article differs slightly from what is in your textbook. The video and article describe buying behavior typical of five market segments. Three of these segments [Continue Reading …]
One of the challenges to understanding consumer behavior involves the paradoxes or inconsistencies in their individual needs and behaviors. While this article “ The consumer is a paradox “(The Hindu Business Line, December 15, 2016) describes consumers in India, the paradoxes might also resonate with consumers in many other countries. After reading this article, explain how one of the paradoxes does or does not fit with your experience. Can you think of other paradoxes within yourself or a friend or family member? Can you think of a brand not discussed in the article that sits at the junction of a paradox?
About a year ago, B&G Foods bought the iconicGreen Giant brand of frozen vegetables from General Mills. As our chapter 2 “What’s Now?” post explained, the frozen vegetable category has been in decline for at least the last decade. B&G hopes to resurrect the brand and the category. The Green Giant ad below was typical of its promotion for much of the 1960s, 1970s, and 1980s. This brandchannel article, “ #TheGiantAwakens: Social Campaign Teases New Jolly Green Giant ” (December 7, 2016) highlights a YouTube video and Instagram posts as part of a contemporary update to the Green Giant. Go to YouTube and search “Jolly Green Giant tv ads” and view one of [Continue Reading …]
According to “ Here’s how millennials could change health care ” (USA Today, February 7, 2016) the health care needs of millennials differ from those of the generations that precede them (generation X. baby boomers, and senior citizens – see chapter 3 for discussion of different generations). Review the influences on the consumer decision process in chapter 5 (see Exhibit 5-2). From reading the article or drawing on personal observations, identify how at least one factor in each category (economic needs, psychological variables, social influences, culture and ethnicity, and purchase situation) could influences how a millennial consumer choose and consumes health care.
As you may know, big data and predictive modeling are getting pretty darn good at predicting the brands or products an individual might want to buy. It is not hard to imagine a day (perhaps not not too far into the future) where retailers are so good at predicting that they know what we want or need before we do. Target stores already knows what brand of shampoo a customer buys — and that they buy it once a month. So what if they just placed an order for us and shipped it out? Would people be interested in this service? [Continue Reading …]
This article “ Vast underground bomb shelter reappropriated by urban farmers ” (Wired.com, February 11, 2014), describes an innovative new “farm” located 100 feet below ground in southwest London. Zero Carbon Food uses a World War II bomb shelter designed to hold 8000 people. Fortunately it has not been needed since WWII and it has laid dormant — until now that is. A couple of entrepreneurs are growing broccoli, pak choi, and more using hydroponic growing techniques. One of the benefits — low shipping costs (something to talk about when you cover logistics) — and certainly appeals to the environmentally conscious segment of the market. What other benefits could Zero Carbon leverage? What [Continue Reading …]