Question
As indicated in NRF and IBM (2022) Consumers Want It All, To connect with consumers and investors looking for environmentally responsible products, many retail and
As indicated in NRF and IBM (2022) Consumers Want It All, "To connect with consumers and investors looking for environmentally responsible products, many retail and consumer brands are taking a more holistic approach to sustainability. Most companies have launched initiatives to achieve sustainability goals in every link of the value chain". The article goes on to indicate that "Clearly communicating what makes a product sustainable is key to influencing consumer perspectives and purchasing decisions". Of interest, the article segments customers into being purpose-driven, value- driven, brand-driven or product-driven, and indicates that "66% of purpose- driven consumers prefer to buy sustainable products, compared to 30% of value-driven consumers". Given this information and utilizing your understanding of general approaches to distribution dependent on product classification - convenience, shopping, or specialty [based on the lecture]; i) for each of the customer segments: purpose-driven, value- driven, brand-driven or product-driven, please discuss which product classification category you would advise it best to distribute products from to each of those customer segments, given distribution-related and segment-specific customer behavior considerations, and ii) please select a product, identify its product classification category, select a customer segment to distribute it to, and identify and discuss which retailer and what channels (in-store, online, or both) you would utilize to distribute that product and why
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started