Assessment and Validation of the Reasons for Existing Levels of Consumer Interest

Answer

1. Assessment and Validation of the Reasons for Existing Levels of Consumer Interest

   A validated consumer profile

   The consumer profile for the private label diaper brands being marketed by the company is composed of young couples raising a family or single parents raising a child independently. The young parents in mind are likely to live in city suburbs where they intend to raise their children and they are likely to have upward mobility at work. The target consumers are likely to have good incomes at the level of around $100,000 per annum, which would allow them to have a significant disposable income that they can use to purchase luxury items. This type of consumer is highly concerned about the quality of products that they buy as well as the status associated with the products they consume (Ragunathan, et al, 2015). Given that the diaper product is being marketed as a quality yet exclusive brand, it is extremely likely to attract the interest of this group of consumer who is attached to quality brands the status associated with buying quality products. This group of consumers frequently shops at high-end stores and malls, which is where the products shall be marketed in order to attract them.  As consumers, they love shopping and are always looking for quality products that they can purchase. These consumers typically yearn for a higher social status and are likely to embrace the private label diaper product, if it is associated with social status and is being bought by others of their social class. Therefore, the company must consider all these factors when marketing the product to the target consumers.

   A detailed analysis of the buying trends influencing their market segment

   The buying trends influencing this market are generally driven by social status and class with the potential buyers wanting to appear classy by using a specific product. The target consumers are also driven by a desire for quality products and are more likely to purchase the private level diaper product if they believe that it is of high quality. The manufacturer of the private label diaper program has used unique materials and production processes to create a truly unique and high quality product that the customers can trust. Given that the diaper has the ability to keep the baby dry for a period of twelve hours, it is clear that it is a quality product. The target consumer segment are known to be loyal to the quality products that they buy, which means that once the uptake of the diaper product has started, the product will have a stable market (Jiménez-Parra, Rubio & Vicente-Molina, 2014). The buying trends within this target market are that they shop throughout the year and have significant disposable income such that they can afford to use the diaper products at all times. Some of the less financially stable consumers might opt to use the diaper product at night only while using other products during the day in order to save on costs. However, this is highly unlikely for the target market segment.

   A detailed analysis of consumer behavior

   The consumer behavior of the target market segment is based on the significant disposable income that consumers in this bracket have as compared to other consumer brackets. This is especially true for target consumers that are couples raising a family as they have a combined income, which in many cases is greater than the median of $100,000. The target consumers like keeping up with modern trends and if the diaper is launched as a new trend, it is likely to attract many new consumers. Another crucial behavior in this customer segment is that the group is easily influenced by societal class as they follow trends that the rest in their social class are likely to approve (Goneos-Malka, Strasheim & Grobler, 2014). Therefore, it is no wonder that when a trend is launched and it is adopted by a majority in this social class, it is usually adopted by almost everyone within the same class. The marketing for the new baby diaper product should use these trends to their advantage in marketing the diaper product to the target consumers. The marketing of the diaper products should be aligned with the consumer behavior analyzed here, which should include the use of celebrity figures and people with social status while advertising the diaper product in order to appeal to the target consumer. The use of celebrity figures in the marketing of eth diaper product is likely to generate great reviews and attract significant numbers of consumers from the target consumer bracket.

   An evaluation of the influence of previous marketing activities

   The previous marketing activities embarked on by the company were based on advertising the diaper product as a unique and quality alternative to the existing diapers in the market and showing consumers that it was the right diaper for their babies. As a private label brand, the diaper was marketed as an exclusive product for the discerning customer who wants only the best for their baby. The exclusivity of the diaper product is a crucial point in its marketing as it is targeted at consumers with significant disposable incomes who have the ability to buy the diapers consistently (Sam & Chatwin, 2015). However, the company should consider marketing the product as a mass-market product as it is usually surprising what consumers even with minimal incomes can do to acquire a product associated with class and quality. The company should launch a mass-market advertisement campaign positioning the product as a quality alternative to normal nappies. Given the importance that consumers place on the health of their babies, it would not be surprising to see the entire market loving the product and becoming loyal customers of the diaper brand. However, the company should not lose the exclusivity of the product as that is what will attract numerous customers to the brand. By utilizing celebrities in its advertising, the company would be able to convey the status and exclusivity of the brand and get to attract its target customers based on those two qualities. The core customers are the target group with large disposable incomes, but even the mass-market might become loyal customers to the brand based on the quality of the diapers.

   A situational analysis of their organization’s capabilities and ability to respond to any changes in the marketplace or in consumer demands

   The company has in-built ability to respond to a changing marketplace as well as changing consumer demands given that it has a large deposit of cash set aside for contingencies. The company is backed by investors who are willing to invest additional cash in the company’s operations in order to ensure the success of the company. The company also has a research division whose role is to anticipate changes in the market and propose changes in the company’s overall strategy. The research division is also responsible for developing new products to complement the company’s existing products and to fill customer gaps that might be identified through research (Cavaliere, Ricci & Banterle, 2015). The department is also responsible for analyzing changing customer demands and designing solutions to address these changes by meeting customer demands. The company has dedicated reserve resources to be used in case of drastic changes in the industry in order to have an appropriate response to any changes in operating circumstances. The company is also looking to diversify its interests in the marketplace in order to have a cushion against any drastic changes that might reduce the market for its diaper products. This should serve to neutralize any threats to the company’s future.

   A statement that identifies the legal and ethical standards that apply to their organization and/or their marketing plan.

    The organization is keen on meeting all legal and ethical requirements that affects its operation including but not limited to honest advertising where the company only creates advertising that states the true qualities of its diaper products. Some of the ethical consideration that the company is aware of include being honest about the capabilities of the diaper product in terms of keeping the baby dry for twelve hours.teh company cannot increase this figure if it is not true as that would go against the ethical advertising principles (Gordon-Wilson & Modi, 2015). The company is also bound by the laws that govern the manufacturing of baby products, as they must be safe for use by all babies. By adhering to all the laws governing their operations, the company is able to create a positive public image that can boost sales and the company’s reputation amongst potential clients and within its market.