29 Jun MKT 510-Consumer Lifestyle and Situational Influences
Question
Go to Strategic Business Insights’ Website and take the VALS™ survey, located at http://www.strategicbusinessinsights.com/vals/presurvey.shtml. Be prepared to discuss.
Click here to watch the video titled “Targeting the Premium Dog Market”, (14 min 23 s). Then, go to the United States Census Bureau’s Website and explore the 2012 National Population Projections: Summary Tables, located at http://www.census.gov/population/projections/data/national/2012/summarytables.html. Be prepared to discuss.
Consumer Lifestyle and Situational Influences” Please respond to the following:
From the first Activity, determine whether or not the VALS test provides an accurate representation of your buying habits. Speculate if the results of the survey will change over time, citing key external factors that would cause the results to differ.
From the second Activity, speculate, from the U.S. Census market projections, what key situational variables will influence the dog owner target market. Provide two ideas of how premium pet product manufacturers can use this information in their market strategies.
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