Marketing principles Essay Example | Topics and Well Written Essays - 1500 words

Marketing principles - Essay Example feeding equipments, baby walkers and bouncers, baby monitors and range of toys which would required mostly by parents who have children and younger children. With the disposable income among young parents, particularly in the UK the baby care product market is increasing at a steady rate. The consumer demographics in the market for baby care products in the UK shows that an increasing number of kids and young children are taking to using variety of products which made for themselves to do their activities in safe and easy manner. Purchasing behavior of UK consumers of baby care products in particular is determined by price elasticity of demand plus a variety of external factors (Cook, 2007). Five senses as outlined below don’t essentially act as the ultimate determinants of purchasing decisions of consumers. In fact a bewildering array of endogenous and exogenous variables plays a very big role in consumers’ decisions. However, what’s seen, heard, felt, smelled and tasted matters in the immediate decision making process. Thus the family unit is the most basic factor which drives buying decisions for baby products. The value statement for the baby products can be based on the company’s customer value creation strategy with safety, care, quality and fun. As a value statement shows the first word is safety. This key concept has become a very big issue in the current times. For instance Baby Product comes from a variety of sources and a variety of countries. The potential customer must be informed about the level of safety for their kids. The word care carries a greater weight because parents and elders care for their kids. Similarly quality matters because children need quality products. Fun is associated with keeping the kids happy during the play time. Thus each baby product must be exciting enough to the kid. Thus a few extensive and serious research studies have to be undertaken in order to determine the extent of influence on consumers’ decisions