ANALYSING MARKETS

ANALYSING CONSUMER MARKETS

Consumer studies for VPJ indicated that heavy users were women aged 45 years old or older who viewed petroleum jelly as a multifunctional skin-care product and mothers who used petroleum jelly for baby care, but did not consider it appropriate for their own skins.  Studies have found that heavy users on average purchase six times more VPJ than do light users.  Other specific uses for VPJ were chapped lips and sunburns.  VPJ also had other untapped uses such as lubrication and use as a shoe-shining aid.

Consumer marketers are basically affected by 3 factors:

Cultural factor: way of living, social cause. For VPJ since the reach is across the globe everybody uses the product and due to the brand HUL tagged with it even the elite people use this jelly in emergency.

Social factor: Reference groups, family,roles and status
The behaviour of people can be affected by family, friends, co-workers, religious groups, professional groups, inspirational groups etc. Another direct influence is the family of procreation i.e. the person’s spouse and children. VPJ is used by every household its become a staple product.

Personal factor: A person’s age and stage in the life cycle, occupation and economic circumstances, personality and self-concept, lifestyle and values etc can influence their buying behaviour. Here from babies to adults everybody use VPJ.

Key psychological processes
There are many theories that have evolved to identify the psychological process behind consumer buying behaviour one of which is:

Abraham Maslow's theory 

VPJ is a basic need as it is available anywhere at ease and its economical; anybody can afford it(middle class).

ANALYSING BUSINESS MARKETS
B2B: Retails and wholesaler who stock VPJ.

B2C: Wholesalers and retailers fall actually under B2B2C as they have a primary business transaction with HUL to get the stock.

B2B is very rationally oriented as compared to B2C which is more emotional as it basically targets the wants and needs of the customer.


Participants in the Business Buying Process:

Initiators: Salesmen, Marketers
Users: The final consumers
Influencers: People who influence the Buying Decision; Budget decision maker.
Deciders: People who decide on product requirements; mothers for baby rash, girls for dry skin issues etc
Approvers: People who agree or approve the buying decision
Buyers: Buyers might include anyone who wants to get rid of dry skin.
Gatekeepers: People who disrupt the buying decision