TOPIC 2: Types of Consumer Offerings - Personal Application

This week's readings describes the types of consumer offerings with four categories:

1. Convenience offerings- products and services consumers generally don't want to put much effort into shopping for because they see little difference between competing brands. For many consumers, bread is a convenience offering. A consumer might choose the store in which to buy the bread but be willing to buy whatever brand of bread the store has available.
2. Shopping offerings-is one for which the consumer will make an effort to compare and select a brand. Consumers believe there are differences between similar shopping offerings and want to find the right one or the best price.
3. Specialty offerings-are highly differentiated offerings, and the brands under which they are marketed are very different across companies, too. For example, an Orange County Chopper or Iron Horse motorcycle is likely to be far different feature-wise than a Kawasaki or Suzuki motorcycle. Typically, specialty items are available only through limited channels. For example, exotic perfumes available only in exclusive outlets are considered specialty offerings. Specialty offerings are purchased less frequently than convenience offerings.
4. Unsought offerings-are those that buyers do not generally want to have to shop for until they need them. Towing services and funeral services are generally considered unsought offerings. Marketing unsought items is difficult. Some organizations try to presell the offering, such as preneed sales in the funeral industry or towing insurance in the auto industry.

Consider your own purchase behaviors.

Foreachof the four categories, identify a product you purchased. Be sure to explain your choices and share that with your professor and classmates.

TOPIC 3: Product Life Cycle (required)

The value of the product life cycle is that it provides clues as to what marketing mix strategies might need to change as the product moves through the cycle. For example, a high-tech product being launched will have to decide whether to use penetration or skimming pricing strategy. That pricing strategy will then determine how much marketing communications is needed and what distribution strategy is needed. Because high-tech products are particularly susceptible to competition and entry of substitute products, the company needs to stimulate sales early, knowing the product life cycle may be short.

Pickoneof the following products and identify which stage of the life cycle you believe it is in and why. You don't need to do research; just use your personal experience and judgment. You may want to check out the product's website. Then, identify what needs to be done to the marketing mix based on the stage you selected.

1. Apple Watch
2. Kellogg All-Bran cereal
3. Crest Complete toothpaste
4. Ford F-Series
5. Hagen-Dazs ice cream
6. Libby Sweet Peas canned vegetables
7. Rolling Barn Door Hardware by CSH
8. Beyond Meat Chicken Free Strips
9. Instant Pot
10. Martha Stewart Wellness product line

Since each of you are picking different products, scroll through some responses and see if you have a different point of view and post as appropriate.