Project 1: researching consumer buying behavior

ACME Meeting

Client Name: ACME

Industry: Appliances

Product Line: Smart televisions

Consumers: United States, United Kingdom,

and Germany smart TV buyers

Course Resource

Competitors: 1. Samsung

2. LG

3. Vizio

“Thank you for meeting with us today,” Tarek

says. “Market intelligence has shown that

our major competitors—Samsung, LG, and

Vizio—are all developing new smart

televisions. These new televisions have

attractive designs, are efficient, durable, and

are available in different sizes. In addition,

these televisions are competitively priced,

and sell between $800-$1,400 dollars each.”

Tarek looks to you: “As ACME is debating

whether to enter this market, we need you

to participate in a new cross-functional

product development team that will

research the smart TV customers buying

habits in our three main markets: The United

States, Germany, and the U.K. We also need

to know if there’s an unmet demand for

these TVs in those markets,” he says. Erik

Knops, ACME’s CEO, nods his head in

agreement.

Tarek continues, “We need to take into

consideration the different needs and

preferences of smart TV buyers in those

markets; as well as the demographics of

those buyers such age and gender. The

customer requirements for each of those

markets may be quite different.”

Finally, Tarek remarks, “In addition, we need

to know where those customers buy their

smart TVs from, and if there is any seasonal

variation in sales.”

Erik nods his head again, smiles, and adds,

“Tarek and I want you to research the smart

TV buyers’ needs and preferences for those

three markets, and provide us with a

customer buying behavior report in two

weeks. Remember, the report should focus

on the customers, and not on the

competitors!”

You know that to give Erik and Tarek the

most in-depth report, you will need to

conduct an analysis of the smart TVs buyers

in those markets. Each market has to be

discussed and analyzed separately under its

own headings and subheadings (three

different discussions and analyses). In

addition, you have to create a value

proposition for ACME’s proposed product.

The value proposition should be clear and

specific to ACME’s proposed new product.

What value do customers see in the

proposed product and what would compel

them to buy it?

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