What are some of the psychological influences that are most important to Iams in understanding their buyers? Answer: There are four psychological influences that are most important to Iams in understanding their buyers. First psychological influence is motivations. The motivation is the drive that leads the buyers towards buying a product or service. When buyers’ motivation is high enough, which means that their need is high, thus, they will actively seek to satisfy that need.
This will result in the consumer deciding to buy the product. Iams need to successfully leverage the consumer’s needs which will in turn motivate consumers to buy their pet products. Example, Iams understand that many pet owners treat their pets as family members and want to provide their pets with high quality products. Thus, in order to motivate consumers to buy their products, Iams has focused primarily on pet nutrition to make sure that their product is healthy and high quality product. Second psychological influence is perceptions.
Perceptions are a process by which people select, organize and interpret information to form a meaningful picture of the world. Consumers make all manner of associations from their prior knowledge and experiences. So, Iams understand the important of this psychological factor towards its business. Thus, they always produce premium products to customers to avoid negative consumer perceptions. Therefore, the customer perception toward Iams is that every product comes from them must be is high quality.
The Research paper on Calculate the revised product costs for the four pens
1.Calculate the revised product costs for the four pens, based on the activity information collected by Assignment: This case may be completed in groups of two or individually. You are responsible for finding a partner if you choose to complete the case with another student. Purchase and read the Harvard Business School Case: Classic Pen Company: Developing an ABC Model located at the following ...
Third psychological influence that is most important to Iams in understanding their buyers is learning factor. Learning describes changes in an individual’s behavior arising from experience. These experiences will influence the consumer buying behavior by changing the way they react to products similar to those they already have experience with. Thus, Iams have focus on the consumer experience in order to gain repeat business because the consumer does not feel the need to look anywhere else to fulfill that particular need.
Last psychological influence is attitudes factor. Attitudes greatly influence consumer buying behavior. An attitude is the individual’s consistently favorable or unfavorable evaluation, tendency or feeling about a particular subject. Iams have come out with Savoury Sauce formulas for dogs which are just like the human barbecue sauces or marinades and is fortified with vitamin and minerals. These premium products can reflect the changes in some consumers’ attitudes toward their pets and their pets’ food. Question 2 Which segments have P & G targeted with its Iams range?
Answer: The first segment that P & G targeted with its Iams range is the owner of pets that treat their pets as family members. This particular types of customers required healthy and high quality product for their pets. They want their pets to entitle to the same quality and nutrition as other family members. Thus, they usually are developing a higher level of involvement when shopping for pet food. In order to target this segment, P & G and its Iams pet food operation market premium pet products mirroring products purchased and used by humans.
They come out with healthy NaturalsTM line that includes ingredients such as Atlantic salmon and contain no artificial colours, flavours or preservatives. Besides, other segment that P & G targeted with its Iams range is the owner of pets that demand nutrition customized to meet their pet’s particular needs. Example, certain customers were concerned about feeding cats in multi-cat households in which one cat might be overweight while another was not. Thus, the company has created a Multi-Cat formula with ingredients aimed at reducing fat in heavy cats while still providing protein for lean cats.
The Business plan on Intro To Business Businesses Product Consumers
Introduction to Business Business plays a major role within our society. It is a creative and competitive activity that continuously contributes to the shaping of our society. By satisfying the needs and wants people cannot satisfy themselves, businesses improve the quality of life for people and create a higher standard of living. It is a way for individuals to provide goods and services to ...
Question 3 Outline the positioning strategy being pursued by Iams. Answer: The positioning strategy being pursued by Iams is positioning on quality of product and services. Iams knows that many pet owners treat their pets as family members and want to provide their pets with high quality products. Therefore, Iams is produces premium pets products for the pet owners. For example, Iams provide ProActive Health formulas that include PreBiotics, good bacteria that promote healthy digestion.
Iams also has a Healthy Naturals line that includes ingredients such as Atlantic Salmon and contains no artificial, flavors or perseverative. Besides, the company has Savoury Sauce formulas for dogs are bottled just like human barbecue sauces or marinades which is rich in vitamins, minerals and antioxidants, are low in calories and fat. All of these products that Iams provided are because they know some of the consumers believe that as an additional member of the family, pets are entitled to the same quality and nutrition as other family members.
Thus, they target their positioning strategy on quality of products. Moreover, they also positioning on quality of services. Iams realize the importance of consumers’ relationships with their pets, so Iams is expanding its business into the veterinary industry. They work with insurers to provide pet health insurance. Iams also has Pet Imaging Centres which is allowing doctors to investigate health problems in pets without resorting to exploratory surgery.
