How Understanding Consumer Behavior Helps Business Succeed

SWOT Analysis Strengths - Variety of Products : Target sells a lot of different products, including groceries, clothes, electronics, and household items. This makes it a convenient place for customers to shop for everything in one store.  - Strong Brand: Target is well known for its red bullseye logo and the slogan,"Expect More. Pay Less." Many people trust the brand and see it as a good place to shop for quality products at fair prices.  - Financial Strength: As of February 2024, Target made $31.9 billion in revenue, showing that it is a strong and successful company.  Weaknesses - Mostly in the US: Target has most its stores in the United States and doesn't have a big international presence. This limits its ability to grow in other countries.  - Relies on Physical Stores: Even though online shopping is growing, Target still depends on its physical stores for a large portion of its sales. This makes it vulnerable if more customers switch to shopping online. ...

In the "I Will What I Want" campaign, Under Armour aimed to redefine its brand perception among women, addressing the challenge of being perceived as hypermasculine and not inclusive. To be successful, they used the basic steps to conduct marketing research.  The first step in the marketing research process was defining the problem. Under Armour recognized that many women saw their brand as too masculine and not meant for them. This view limited their ability to attract female customers. To fix this issue, they needed to change how women viewed the brand and make it more inclusive. The goal was to show that Under Armour was for all athletes.  The next step was designing the research. Under Armour worked with the advertising agency Droga5 to create a campaign that would authentically connect with women. They wanted the campaign to be empowering and to speak to women's experiences. A key part of the strategy was using real-time engagement, meaning they would collect and res...

Packaging is an important part of marketing because it affects how a product is seen by consumers and retailers. A product's packaging can make it stand out, affect pricing, and increase consumer satisfaction. StockX, an online marketplace for sneakers, streetwear, and collectibles, is one business that makes creative use of packaging.  To provide the best experience for customers, StockX uses exclusive packaging. Their items are packaged in a box that includes a StockX sticker, an authenticity tag, a receipt, a letter from StockX, and custom wrapping around the shoes. This type of packaging adds to the overall cost, but customers are often willing to pay more for an exclusive and well-packaged item. Since StockX operates online, its packaging is important in making a strong first impression. The clean and modern design helps them stand out from other resale platforms. Their packaging reflects the brand's promise of authenticity and quality. To make sure that buyers receive aut...