Prompt: First, review Chapter 9 in your text as well as the article Stages of the Consumer Buying Process and the video 7 Tips fo

MKT 345 Milestone Two Guidelines and Rubric Consumer Buying Process

Overview: For this milestone, due in Module Four, you will prepare a PowerPoint presentation summarizing the consumer buying processes you have so far researched in order to market the consumer product you are proposing for your final project. Prompt: First, review Chapter 9 in your text as well as the article Stages of the Consumer Buying Process and the video 7 Tips for Good Survey Questions. Next, prepare a presentation that lists and briefly explains each stage of the consumer buying process. Define the marketing strategy used within each stage of the process regarding your chosen market segment. Finally, identify which specific stages of the process will be most effective for your consumer segment. Specifically, the following critical elements must be addressed:

III. Consumer Buying Process

A. Define the stages of the consumer buying process. B. Analyze a marketing strategy that can be used for each stage of the consumer buying process in regard to your chosen market segment. C. Determine the specific stages of the consumer buying process for which your marketing strategies can be most effective for your consumer

segment. Using the speaker notes, provide any additional details of importance regarding the bullet points you listed on each slide to further explain the information. Instructor feedback on this milestone should be incorporated into your next milestones and into the final project.

Rubric

Guidelines for Submission: Milestone Two should be a minimum 3-slide PowerPoint presentation with audio or speaker notes included. Citations should be provided in APA format as needed. For help with PowerPoint and preparing your slideshow, visit Infobase, or the Microsoft PowerPoint help center. Please note that the grading rubric for this milestone submission is not identical to that of the final project. The Final Project Rubric will include an additional “Exemplary” category that provides guidance for how you can go above and beyond “Proficient” in your final submission.

Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value Consumer Buying

Process: Stages Defines the stages of the consumer buying process

Identifies the stages, but does not identify all stages or does not define the steps, or definition is not cogent or inaccurate

Does not define the stages of the consumer buying process

30

Consumer Buying Process: Marketing

Strategy

Analyzes a marketing strategy that can be used for each stage of the consumer buying process in regard to market segment

Analyzes marketing strategies, but does not address each step of the process or is misaligned with market segment or description is not cogent

Does not describe marketing strategies for stages of the consumer buying process

30

Consumer Buying Process: Buying

Process

Determines stages in the consumer buying process where marketing strategies can be most effective given the selected consumer segment

Determines stages in the consumer buying process where identified marketing strategies can be most effective, but is not aligned with the selected consumer segment

Does not determine stages where identified marketing strategies would be most effective

30

Articulation of Response

Submission has no major errors related to citations, grammar, spelling, syntax, or organization

Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas

Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas

10

Total 100%

Coca Cola Megan George

Consumer segment

! The Coca Cola understands the needs of the customers.

! It develops a business strategy that aligns with the expected consumer behavior.

! Primary consumers or target market (consumers aged 10-25 years).

! Secondary consumers (aged 25-40 years) (Wang, 2021).

Resources

! Consumer behavior information can be sourced from resources such as:

! Social media platforms. ! Focus groups and surveys. ! Customer reviews ! Competitor analysis.

Secondary research

! Scholarly reviewed articles and journal articles are used in studying the characteristics of Coca Cola’s consumer segment.

! Characteristics of the consumer segment: ! Highly influenced into adapting a given

consumption behavior. ! Majority have varying purchasing power with

differences in level of income. ! Prefer trending fashion or newly introduced products

(Melancon & Dalakas, 2018).

Segmentation strategies

! There are various strategies the Coca Cola Company can segment the market:

! Demographic such as age, income, occupation and income.

! Geographic segmentation: based on the location of the customer.

! Psychographics: based on hobbies and interest ! Behavioral; strategy: based on behavioral patterns as

studies from the resources.

Behavioral segmentation

! This segmentation strategy is based on consumer behavior.

! Consumer aged (20-45) are affected by factors such as income, interests, age.

! These factors affect their consumer patterns. ! Behavioral segmentation would assist in

implementing the best offer in terms of marketing mix.

Selected consumer segment

! Segment: Low income, highly literate adults aged 25-40 years

! The segment is highly price sensitive due to limited purchasing power.

! The segment understands the quality standards of the product.

! The segment has information on prices (De et al, 2021).

Research needs

! Impact of technology: helps determine needed differentiation strategies.

! Effect of change in income: helps in understanding expected changes in demand.

! Effect of competition and pricing: helps determine the ability to switch to competitors.

References 


Wang, J. (2021, October). How Coca Cola and Pepsi Use Segmentation in Consumer Product Industry. In 2021 International Conference on Public Relations and Social Sciences (ICPRSS 2021) (pp. 866-870). Atlantis Press. Melancon, J. P., & Dalakas, V. (2018). Consumer social voice in the age of social media: Segmentation profiles and relationship marketing strategies. Business Horizons, 61(1), 157-167. De Villiers, R., Tipgomut, P., & Franklin, A. (2020). International market segmentation across consumption and communication categories: Identity, demographics, and consumer decisions and online habits.