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BUSSINESS

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BUSSINESS

1.1 BRAND VARIATIONS

When a brand has developed itself on the market, it can be expanded on in different ways. One approach is by building a brand family that includes different types of products under the same umbrella. Which is to create model variations. These brand variants enable the company to target various market elements while maintaining loyal brand customers. Companies consider selling versions of the same product category within their brand. Variants are different variations of the same product, distinguished by taste, size, flavours and other characteristics (Shugan, 2015). The benefits of this are that you can attract high-end and budget-conscious consumers through variations within your brand.

Versman is an example of a company that has a different version of the same products under the same brand. It produces a wide range of body lotion, like Versman luxurious which contains moisturizers, glycerine and conditioners that leave customers skins smooth and supple. It contains fresh fragrance which leaves consumers feeling fresh for 24 hours. Versman cool; this lotion contains sunscreen which protects the skin against the suns harmful rays. It also contains menthol that leaves consumers skins cool and refreshed. Versman classic; another type of lotion is rich with Vitam E for fast absorption and deep moisturizing. It also fights dry skin and is non-greasy. Versman trendy; is another lotion that is fast-absorbing and is an intense moisturizer with a non-greasy formula. It also helps in fighting dry skin and provides a 24 hours hydration. The product has a very sweet fragrance that will leave you feeling fresh for 24 hours as well. Versman lotions are affordable and will moisturize, refresh and protect your skin against dry skins, harmful sun rays. It is a male product but women can wear it as well.

Nestle company also practises variants in their range of products. For instance, in their cereals, they have various types of cereals like Nestum. This is a balanced cereal for children and adults who are struggling with feeding difficulties. It is not very succulent and contains a lot of protein, vitamins and minerals. They can be mixed with tea, milk, soy or fruit. When prepared in small amounts, Nestum is also a good snack. When an adult has little appetite, Nestum can help to stimulate healthy appetite and be nutritious at the same time. The grain in the cupboard does not go bad for a few weeks, and that is an added advantage because children and adults like variety. They also have Gluten-free coco cereals. These cereals are for people who are allergic or want to avoid foodstuff that has a high amount of gluten in them. It is beneficial for health reasons.

Cadbury Company produces a wide range of chocolates. Among the products is Cadbury Dairy milk chocolate. This chocolate contains 30% less sugar than normal chocolate. This gives more variety and taste to customers. It is beneficial to customers especially the ones with diabetes. Cadbury Dark milk chocolate is another product that Cadbury has. This brand was designed for those who want chocolate that’s smooth and dark.

Brand variant will benefit these companies by providing continued brand loyalty, future income growth and greater market share. Customers will always be assured that they can rely on the goods of your business to satisfy a wide range of their needs and preferences (Desai & Ratneshwar, 2013). According to a major study carried out in 2006 by the University Of Michigan School Of Business, these findings also indicate customers are more likely to buy more items from a particular brand family. Having various products ensures that customers remain loyal to the brand as well as being given a wide range of products to choose from. Besides, consumers will consider new products more often through brands they already have trusted. However, the same party found a drawback of brand variants. For companies offering price variations, consumers were found to gravitate within brand overtime to the lower-level variations.

 

1.2 SOCIAL CHANGE

Social change in a given society, community or context, can be defined as significant changes in organized social action or culture. Such a broad description may further be defined based on several dimensions of social change: space, time, speed, and path. The global acceleration of social change is fast. Greenfield’s interdisciplinary and multi-stage social change and development theory offer a unified framework for investigating the consequences of these changes on cultural values, the learning/socialization environment and the development/compliance of people. Social change consequences are demonstrated by evidence from societies with social changes have occurred. This includes society in which mass migration has existed. Overall sociodemographic patterns that are dominant are rural to urban migrations, people moving from farming to trading, and the development of acquisition of technology. Such trends contribute to a decline in both cultural aspects and benefits. Interdependence, traditions, creativity and abstractness.

The two world wars saw more women working in a broader variety of professions and women benefiting from better opportunities and a more equal role in society after 1945. Of course, the war was a revolutionary experience for many women. They served in the military and government offices, fields and factories, as well as in Hitler’s bunker and the secret Cabinet War Rooms in Churchill and Hitler’s era. Women were elected in Great Britain and Germany during the First World War, so they were elected for in France and Italy in 1945 and 1946, respectively, with general declarations of equal nationality. The structure of economic life and the types of jobs it generated led to some significant change in the role of women expecting a de-industrialisation which began in the 1960s, while, even then, many women had different priorities to men. Perhaps it’s more likely to see war again, as with most social changes, as at best to move and maybe just momentarily alter.

The social change did not emerge until the 1950s. That’s when significant changes to European society and culture were often regarded as “Americanization” processes, while American society might well be simply the first to demonstrate the transition that often came together in the unsatisfactory word ‘modernisation.’ Of course, in pre-war Europe, American popular culture was influential. American films have provided an illustration of independent consumer culture and a lifestyle that many people have been interested in.

In 2008-2009, the worst political and economic crisis in the world rose since the Great Depression of the 1930s. The recession followed in 2007 and 2008 led to the rising of food and fuel prices. Global output reduced by 2% in 2009. After an overview of their causes and their transmission, in 2011 World Social Situation report reviewed the ongoing adverse social consequences of those crises. Although concerted stimulus measures averted a deeper, longer global recession, the recovery remains weak and uneven. Capital spending in most developed countries reduced by the economic crisis and government spending has been reduced by the transition to fiscal austerity. Unemployed levels and vulnerability increased, particularly in developed countries without full social security in response to the global economic crisis. Due to the global crisis, tens of millions more people have fallen to or have been caught up in extreme poverty, while the number of hungry people worldwide has risen to more than one billion in 2009 (Chandrasekhar and Jayati (2010).

The global economic crisis created significant social effects and reversed progress towards the globally negotiated objectives of development, including the Millennium Development Goals. Owing to its fragility and the unequal development in major economies, it was predicted that social conditions could only gradually recover. The rising poverty, hunger and unemployment rates will continue to reach billions in the next few years. The importance of inclusive social policies and the need for universal social protection as a result of the national responses to the global crisis was emphasised (Barrientos, 2016).  The global economic downturn has had a broadly negative social impact on individuals, families, communities and society and is only becoming fully apparent over time in areas such as education and health. Households also follow coping mechanisms during the economic crisis, such as adjusting household expenditure patterns; however, these can have a detrimental effect on educational, health, and nutrition outcomes, which can result in the children affected living in deficits and thus exacerbate intergenerational poverty transfer.

Families are in transformation, because of the social changes and the way we live, this leads one to assume that the family does not need constant adjustment. However, family holidays are never static and are often prone to social changes. As a consequence of previous, growing economic prospects and experiences, the previous superiority of man in the family emerges. The consequences of our new society are felt both by marriage and parenting. Parenthood increasingly becomes the duty of choice for individual parents, particularly in our cities. The logical side of this is the tendency of parents in their homes without children, focus on sex and a decreasing form of family experience which are of material benefit in applied science. And the subconscious triggers some of the present situations in the household. Maternal education and feedback focused on lots of other best ways to maintain and develop politically and socially simple life for the children.

 

1.3 SOCIAL CLASS.

Social class refers to the role of social representatives in a hierarchy of various levels of rank. It’s not a new notion as the social class has been around for a long time, but the social class theory is very newly applied to consumer behaviour. The basic principle demonstrates the effect on consumer buying behaviour of an individual’s based on income and social status. The concept also notes that the marketing techniques used by the organization are also a way to control the buying behaviour of customers.

1.3.1. Social class differences influence on product lines and styles

Targeting the upper-class customers. It’s important to develop a product line that satisfies there needs. The upper class are mostly concerned with very good quality and they wouldn’t compromise on quality for a lower price. So when dealing with these customers. It’s important to ensure that the product line is serving them has what they require. Stronger brand preferences may be found among upper classes and more likely to seek knowledge than their lower-class counterparts before making decisions (Moschis, 2019). Therefore the product line must have information that they can access.

Lower class customers are characterized by going for a cheaper product that they find essential. They are less likely to purchase products with very good quality but is expensive. When developing a product line. This factors should be considered. The type of materials used for this product ought to be of less quality than those of the upper-class customers. The prices of items in this line should also be affordable for the customers. In general, quality, price and target market may vary in product lines. Companies use product lines to calculate patterns and help them define the markets to be targeted.

Since middle-class customers have higher disposable incomes than lower classes and since there is a propensity to look at better-known market labels for medium-class customers. The middle class would be more inclined to invest in branded goods and niche design. Provide middle-class ‘near luxury’ brands. The lower class are more stable in their brand loyalty because they cannot afford to make mistakes by turning to new brands, the lower classes would be happy with normal, durable, comfortable and less costly conventional designs.

1.3.2 Social class differences influence on advertising media selection

Social class is an important element to consider when choosing a media platform for advertising. The audience groups you plan on reaching with your ad must be taken into account. In general, the audience is divided into social classes. Such ratings allow you to have the most effect on your outlook. Some goods are linked to other people and you have to take your customer social class into account. For instance, upper-class customers consider credibility so much that the media for advertising should be a concern. The best media for adverting to this group would be print media and magazine as they are the most credible. The lower class customers, however, would consider the television and internet ads as efficient. More so they are easily accessible.

1.3.3 Social class influence on the copy and communication style used in the ads

The consumers from middle class regard their homes as a representation of accomplishment, wealth and reputation. They value furniture symbolically, ads directed at them will underline the entire home setting as a way of expressing themselves. Consumers in the lower class ought to honour and comply with the requirements. The promotion of functional and utilitarian elements of furniture should be based on them. Social classes vary as to how messages are sent and received. The members of the lower class thus depict their environment on a very personal and concrete basis, with a convenient, straightforward copy of ads aimed at them representing modest lifestyles and immediate experiences. However, middle-class people typically define their experiences from different viewpoints and their promotion should be planned to establish a “true” perception, attitude or feeling.

1.3.4 Social class influence on payment policies.

Because certain customers of a lower class do not have the total amount required for the transaction, the company will make deposit deposits and payment options available. The dealer should also recognize that members of the lower social classes usually use their credit cards for instalment payments, even if they pay full credit card bills each month from higher social classes. Therefore, purchase now and pay later sales policy in the store would possibly lead the lower class to purchase.

In the case of middle-class customers, an instore offer of a having cheaper price or discount for cash or personal check payment is an efficient payment strategy to uphold instead of a credit card. This is simply because people in the upper-middle class are not expected to pay using credit card fees for such purchases.

 

1.4 GREEN PRODUCTS ADS

Green marketing strategy is the promotion of goods primarily based on environmental safety; it includes corporate activities consisting of modification of packaging, method of manufacture and green ads (Mercy, 2011). There is a need to preserve our world. In today’s digital world, it is still important for businesses to do good things for the planet, particularly to build on the increasing interest of consumers that goes beyond finding anything. Indeed, it is now relatively common for companies to either use recycled or renewable resources or emphasizes their efforts to reduce energy and waste consumption. Moreover, almost 90% of Americans state that they are interested in protecting the environment and making lives more sustainable.  Here is a closer look at green market ads.

1.4.1 Patagonia

The famous outdoor clothing company has made green all things a significant and consistent part of its marketing strategy. They are also a major promoter of the Go Green movement, in that its mission statement guarantees that the organization “builds the best product, does not cause any needless harm, and encourages and implements solutions to the environmental crisis.” Patagonia is taking steps to reduce its carbon footprint by providing opportunities for public transfers or coach service staff. But they are not all their goods environmentally friendly and rely on fossil fuels for their supplies and other business processes. They are straightforward. The lesson to learn here is that as a company, as Patagonia can have a strong mission while being honest about business practices that aren’t fully green in its content. And the positive response that customers experience is an honest reflection of the excitement of voyages and lifestyles.

1.4.2 IKEA

The Swedish mobilization brand has developed its sustainability policy, People & Earth Positive. IKEA’s key view as a business is that when purchasing goods, the consumer does not have to choose between trendy designs, reasonable prices and sustainability. The organization uses its web contents to support the environmentally friendly lifestyles of its customers. And they are showing the example of environmentally sustainable activities that involve solar panels in 90 per cent of their US buildings and waste cuts. Through taking on the underlying meaning of everything they do, IKEA has won several marketing incentives for its green initiatives. As they demonstrate, it is important to show clearly how you truly support your mission if you use purposeful e-commerce content as a brand to your advantage.

1.4.3 Hershey

The famous brand of chocolate redefines its brand identity as the main element in green marketing. The business, which also owns a hotel and fun park in Hershey, PA, made it a major priority to adopt environmentally friendly practices so much so that by 2025, they set the goal of reducing greenhouse gas emissions from their missions by 50%. Hershey is listed as one of the top ten businesses with environmental consciousness in the United States.   The company has set standards which competitors such as Mars are now adopting green marketing. By repurposing company goods for its charitable works, Hershey goes a step further.  They have used their blog to share news of groundbreaking items, including a recent article about packaging that is consumable that could affect the world positively.

1.4.4 Johnson and Johnson

Johnson and Johnson have developed a department for the improvement of internal procedures behind Band-Aid and a range of well-known baby goods. They have put in place an on-the-job training plan to ensure that everyone in the business has core principles and key questions on the same page. To order to reduce carbon emissions by 20% by 2020, Johnson & Johnson also set sustainability targets, including the rise to product recycling. Customers will track the success of the company with the online content of the firm against these objectives. A recent successful recycling Tumblr campaign has been launched by Johnson & Johnson, for example. They, however, state that you do not only need smart, environmentally friendly strategies to connect to customers who want to deal with eco-conscious brands. You will also have to communicate with your audience emotionally by turning your green initiatives into an overall narrative of your brand through clear messaging. This marketing is effective.

1.4.5 Seventh generation

Whether you purchased a product from the seventh generation or not before, there is no denying that on your most recent trip through the washing and cleaning alley you found the brand. The company manufactures a range of environmentally friendly laundry detergents, soaps and other cleaning products, as well as baby clothes, wipes and more. For all packaging, they use plant and recycled products and take any artificial fragrances or additives that are unsafe for consumers behind.

They use the hashtags # Come Clean and # GenerationGood in social media to encourage their efforts to become green. The Come Clean campaign supports legislation requiring manufacturers of both consumer and industrial cleaning goods, on product labels and websites, to report all ingredients. So the ingredients you may not be able to pronounce will appear prominently on packaging, so you know what you are exposed to. The seventh-generation also successfully breaks down the myth of spending for greenery goods by competitively pricing their goods with other brands-so you do not have to pay any more to purchase products, There campaigns are effective as they not only promote products that are environmentally friendly but products that are friendly to the whole family and pets as well.

1.5 PROMOTIONAL CAMPAIGNS

1.5.1 IPod

Marketers can use green marketing to increase their market share. For instance, iPods companies can decide to venture in solar panels as a way of generating power for their products. This can be achieved by installing solar panels on the iPod themselves or provided small panels for the customers to use.  They can use the internet contents to support environmentally friendly lifestyles of its customers. By the underlying meaning of everything they do, the iPod can win several marketing incentives for its green initiatives. As they demonstrate, it is important to show clearly how they truly support the mission if you purposefully use e-commerce content as a brand to their advantage.

1.5.2 Ready to eat cereals

The marketers of cereals can adopt green marketing to increase its customer base. They can be done defining its brand identity as the main element in green marketing. This can result in it being listed as a top eco-friendly business in the US like Hershey. This will automatically boost its market base. Achieving this status can be done by adopting, for instance, biodegradable packaging materials. They will help in reducing the pollution of the environment. They could also adopt Hershey project of manufacturing edible packages. This will greatly reduce the littering of and waste products.

1.5.3 Designer jeans.

Environmental threats to this part of the product is a concern to many of these customers. Therefore, businesses need to make modifications in the design of the product in line with the environment. This can include investing not only in the creation of new products but also in seeking ways to implement new products. The product can be placed correctly once this phase is completed. This result in the product being sold to many customers thus increasing its customer base.

 

1.6 INFLUENCES OF CONSUMER BEHAVIOUR

1.6.1 Perceived risk

Availability of several brands and models of cars to choose from increase consumer choice but also complicates the decision-making process and adds to the perceived risk in the process of car purchasing. Buying a car is the second significant investment or purchase individual purchases after buying a house.  For the automaker, first-time car buyers offer the possibility of establishing a good picture of the brand that could undoubtedly be replicated in the years ahead as customers will buy new vehicles (Liu, 2018). When buying a car the consumer will be cautious about whether the car and brand they are buying will be beneficial to them or not.

1.6.2 Social media

Internet and online resources have played a major role in all areas and the life of man. Communication and interaction have been transformed since the introduction of social media. The Internet and online services are also critical to the business. Online and electronic trade has been increasingly growing, primarily due to the rising power of the internet and social media. Along with the growth of online marketing strategies, people’s dependence on their tastes and buying decisions is growing. Current trends show that social media and online resources play a high role in people’s buying decisions. Therefore a buyer is very likely to see reviews on social media about a particular car before purchasing it. This shows the influence of social media on the purchasing decision.

1.6.3 Social characteristics

Social characteristics play an important role in people’s lives. Each part comprises of activities and attitudes that a person is supposed to take according to what is around him. The social status reflects the place where people are based. Such issues include money, type of jobs, schooling and social classes.  Status is important in many societies and People want other people’s admiration. Social status can be obtained by in life by money and success. Depending on the social class someone is in. the choice of car I highly influenced by that. For instance, the rich will often go for a luxury expensive sports car. As the type of car they buy reflects their social class. While someone from a lesser social class will go for a basic car.

1.6.4 Demographic characteristics

Lastly, demographic factors influence the purchasing decision of a person buying a car. For instance, people tend to buy cars depending on their age, sexes, income level, the number of household members, social class etc. different cars are made for different classes of people. Young people boys, for instance, would prefer trendy fast car as compared to females who would prefer small cars. This is clear evidence on the effect of demographics on the purchasing decision of a car.

 

1.7 PRODUCT INNOVATION

I recently adopted an iPhone phone. This type of product is due to product innovation. Product innovation requires the creation of new products or improved versions of existing products to improve their use. This innovation may take the form of new technologies or the products to own functionality. Think of how often new models of their products are produced by cellular and car manufacturers. For instance, every year one car is produced by car manufacturers. Every few years, mobile phone manufacturers tend to introduce a new version. That is what the producer is seeking to add. Consumer creativity means everything you have is changing. You collect customer reviews and make it a better product.

For an iPhone, innovators and early adopters of iPhones were without any tech awareness. Only until then was it thought common to have one until the iPhone. Until it was embraced by the majority. It was then socially conscious that the iPhone is usual and nothing special is attached to it. Each year Apple reinvents the iPhone for a better and new form. It was a big deal to own one then but once everyone started owning it, it becomes a normal thing to have. At first, when something new is launched. There is a lot of excitement about owning it. But as soon as everyone gets it, the excitement ends. Then they begin chasing the next big item or product in the market.

Most early adopters of the iPhone are regarded in their category as visionaries and opinion leaders following the innovators. They had a high degree of social standing and influence, allowing them to influence how others perceive the product.   In addition to their social status, early adopters tend to be young, financially secure, advanced and have socially progressive education rather than later adopters.   They do not take as many chances as innovators due to their high social standing. Consequently, they put more research into the product. The people that didn’t adopt the iPhone are referred to as the laggards. They are normally pleased with technology or products they have and they are only likely to acquire the new product if they have to. They tend to have little interest in technological developments and are often advanced in age. Their social status is very low since they mainly interact with close family and friends.

The iPhone was an enormous success despite the early naysayers. It was a portable solution that enabled customers to make their lives easier and better, almost without limitation. Although certain iPhone features were derived from existing products, its customer benefit has made it one of the most important innovations in the world. This will continue to make it a successful brand in the coming future.

1.7 CONCLUSION

In conclusion, it was noted that brand variation has a positive impact on the company. This provides customers with a wide variety of products to pick from. Customers are more likely to remain loyal by purchasing from a brand they are already conversant with. Thus product variant is a good approach. The world war had an impact on the social change of the society. Women became empowered as they were involved in the running of professions. Customers are greatly by their social classes when it comes to purchasing products. Companies should take considerations when coming up with ways of handling different customers from the upper and lower classes. Over time people have become aware of the need to take care of the environment. As a result, they are preferring green products due to health reason as well. Companies should consider this when producing and advertising their products as it can help them increase their customer base. Lastly, product innovation is a great way to ensure that a product and brand remain successful in the market.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REFERENCES

Barrientos W K. (2016). Extending social protection to informal workers in horticulture global value chain. Social Protection Discussion Paper Series, No. 0216. Washington, D.C.: World Bank.

Chandrasekhar, C. P., and Jayati Ghosh (2010). Global financial and economic crisis: social consequences of response packages. Paper prepared for the Department of Economic and Social Affairs of the United Nations Secretariat. 9 August

Desai, K.K. & Ratneshwar, S. (2013) Consumer perceptions of product variants positioned on atypical attributes. Journal of the Academy of Marketing Science, 31, 1, pp. 22–35.

Liu, Dongyan & Bai, Xuan (2018), Car Purchasing Behaviour in Beijing: An Empirical Investigation, Umea School of Business and Economics, University of Umea, Thesis paper pp. 10-17

Mercy, H K (2011). Green consumer behaviour: an experimental analysis of willingness to pay for remanufactured products. Business Strategy & the Environment, 20(6), 408-420. doi:10.1002/bse.703.

Shugan, S. (2015) Brand loyalty programs: are they shams? Marketing Science, 24, 2 (spring), pp. 185–193.

 

 

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