The Loctite Corporation, a large adhesives producer, makes a wide variety of products for both industrial and consumer markets. One of Loctite’s industrial products is Quick Set Instant Adhesive. It is described in their catalog as follows:
A particularly powerful instant adhesive especially suited for equipment maintenance and repair. Typical applications include rubber belts, bumpers and O-rings; metal handles, parts and wires; plastic nameplates, signs and trim.
(a) Give the title of the person in a manufacturing company (that would be a potential Loctite customer) who would be most likely to value Quick Set Instant Adhesive. What role is that person likely to play in the adhesives purchase process? How might knowing that role affect Loctite’s efforts to price Quick Set Instant Adhesive so as to capture a large portion of its VTC?
(b) One of Loctite’s consumer products is Loctite Super Glue Liquid. It is described as follows:
Who in a consumer household would be most likely to value Loctite Super Glue Liquid? What role is that person likely to play in the adhesives purchase process? How might knowing that role affect Loctite’s efforts to price Super Glue Liquid so as to capture a large portion of its VTC?