Describe about the Consumer Attitudes and Perceptions Concerning Active Adult Communities?
COSTCO WHOLESALE is an American company that provides a wide range of merchandise. Marketing the COSTCO WHOLESALE Company helps the organization in the following way-
Setting mission- Marketing helps the COSTCO WHOLESALE Company to set its Mission. The mission of this company is to provide a quality product to its customers at a lower price.
Product development- Marketing helps this company to analyse the product of competitor’s company. After this, the company tries to develop its products according to the customer needs. This company serves its customers quality products at a low price.
Price setting- Marketing helps the company to set its price. Proper price setting helps the company to create a competitive environment. This company can sell its products at a less of 20-40% price than its competitor company. The company has the entire tools that help it to run as low cost operator (Leca, 2015).
Sales Promotion- Marketing helps the company to choose the promotional activity. It helps create customer awareness and brand loyalty. A direct marketing plan is used in this company to promote merchandise to its existing customers. COSTCO WHOLESALE provides a variety of discount on various products including gasoline purchase, car rental, airlines, and travel agency. COSTCO directly mail to its existing customers for advertisement. They maintain a good relation with their customers, and mostly this company believes in the word of mouth advertisement.
Product distribution- Product distribution helps this company to offer their products to a large number of customers in a diverse geographical area. COSTCO has 504 stores in all over the world. They believe that they have earned success because of their pricing strategy, not because of their place. They enter a new market tentatively. They do not enter into a new market aggressively because they believe in the promotion of word of mouth.
Public Relation- Marketing helps this organization to maintain a good public relation. This company allows their consumers to try their product as a sample when they walk by their warehouse (Chicksand, 2015). The customers of this company are always treated well. They totally refund the price of products if the customer is not satisfied by the product.
Market Analysis- Marketing helps this company to analyse their market. A market analysis helps the organization to check the competitive environment. By market analysis, the company can compare their share with their competitive company. Marketing analysis helps to monitor the supply of raw materials and labour force.
Sunrise City is a real estate company that provides services of real estate. They provide service of sales and leasing, the design of management, project management, investment services, and legal advisory. In this case, the marketing manager has to consider some generational cohort for the development of marketing strategy for the active adults. For this study, an online article has been taken which supports the position of marketing manager of active adult’s communities. The generational cohort that need to be considered by the marketing managers is discussed below-
As per Donald, Marshall and Carl (2015), the market manager has to target people who are of 50-55 years. These types of groups are considered to be the wealthiest and fastest growing group of America. This kind of people has different buying habits. Active adult persons have less patience when they buy any estate property. These kinds of people have a finite number of disposable income. They want to prioritize their income over a valuable thing, so it is easy to convince active adults to buy a real estate property (Liu & Wu, 2015). Most of the people want to reside close to their relatives and friends after their retirement. So these kinds of people are easily motivated to buy a new home that is nearby to their relative’s home.
To develop the marketing strategy, the marketing manager of Sunrise City has to target adults who want to buy a residence in next one or two years. People in this age want to invest their disposable income over the valuable thing. They want to keep something for their decanters and that also in a time as early as possible. They are more sophisticated in this age and want to buy a residence that looks attractive (Ford, 2004). So they are more likely to be convinced to buy a residence in next one or two years.
The marketing manager has to select adult who is aware of the place. The active adults sometimes want to live a community in which the people are mostly in their age (Langer, 2015). So the marketing manager has to should select that kind of people who want to be in such kind of area. They are easily convinced to buy the residence in this kind of area (Chatfield, 2014).
The marketing manager should select people with budget range with $300- $600 thousands. These kinds of adults are easily convinced to buy a residence that may be expensive.
An online article has been selected to demonstrate the issues in launching the watch in the market. The article has been published on 25th June 2015.
The issues are related to launching of the watch in the market. This kind of watch is too much expensive to afford. People love to wear watches wich provides all type of functions. But the high-end customers of watches would not want this kind of watches. The major third-party apps that are available on watches of Apple are not providing value.
This is a marketing issue- The problem that the Apple watches are facing restricts Apple to sell more of their watches in the market. The watches cannot meet the demand of niche marketing. It can reduce the earning of Apple Company. The company can lose its market share.
Economical issues- There is increased development in the It industry. These kinds of industry are providing modernized digital products that serve all kind of facility that a person need. So in comparisons to these products the watch is lagging behind (Benetou, 2015). The third party apps involved in watches of Apple are not providing value. Global recession may have a negative effect on the watches of Apple. There is a higher inflation rate with no changes in the income of people. This also negatively affects the watches of Apple.
Political issues- The political relation has negatively affected the watches. The bad relation between the countries has a negative effect on the watch. Wars and terrorism have also prevented the success of watches of Apple.
Social factors- The people mostly tend to have a device that provides all kind of facility. But the high-end customers of watches do not need this kind of watches. The watches of Apple are too much expensive (Dempsey, 2015). So there are many customers who cannot afford those much expensive watches. The customer with high income can afford these watches but the young generation having no job are not able to afford this kind of watches.
If the third party apps involved within the watches of Apple adds value to the watches, it can increase sells. The price of the watches should be moderate so that all kind of people can afford it. The watches should provide all the functionality. The battery condition of these watches should be improved (Adage.com, 2015)
The organization is now trying to vertically integrate with other company to increase its sell and enter into a new market. The organization is trying to engage each aspect of this company to create value to the customers. This company adopts some new promotional activity to promote the watches efficiently.
Donald, B, Marshall, O. and Carl, W. (2015) Consumer Attitudes And Perceptions Concerning Active Adult Communities: an exploratory study, Journal of Management and Marketing Research pp. 1-17.
References
Adage.com,. (2015). Why Marketers Should Care About the Apple Watch. Retrieved 25 July 2015, from https://adage.com/article/digitalnext/marketers-care-apple-watch/299219/
Benetou, E. (2015). Watch Child Behavior Like Newton: Observe “The Apple” Falling in Order to Understand Why. Childhood Education, 91(3), 174-181. doi:10.1080/00094056.2015.1047308
Chatfield, S. (2014). Characteristics of Lifelong Physically Active Older Adults. Qualitative Health Research, 25(7), 966-973. doi:10.1177/1049732314554095
Chicksand, D. (2015). Partnerships: The role that power plays in shaping collaborative buyer–supplier exchanges. Industrial Marketing Management, 48, 121-139. doi:10.1016/j.indmarman.2015.03.019
Dempsey, P. (2015). The Teardown: Apple Watch. Engineering & Technology, 10(6), 88-89. doi:10.1049/et.2015.0661
Ford, D. (2004). Guest editorial: The IMP Group and international marketing. International Marketing Review, 21(2), 139-141. doi:10.1108/02651330410531358
Langer, P. (2015). Considerations in Treating Physically Active Older Adults and Aging Athletes.Clinics In Podiatric Medicine And Surgery, 32(2), 253-260. doi:10.1016/j.cpm.2014.11.007
Leca, A. (2015). Romania needs a strategy for thermal energy. Management & Marketing, 10(1). doi:10.1515/mmcks-2015-0001
Liu, Y., & Wu, C. (2015). Parent-protecting advertising in product line extensions: Role of communication strategy, message type and extension type. Journal Of Marketing Communications, 1-21. doi:10.1080/13527266.2015.1046392
Tomalin, M. (2014). The Intriguing Complications of Pocket Watches in the Literature of the Long Eighteenth Century. The Review Of English Studies, 66(274), 300-321. doi:10.1093/res/hgu060
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