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Perfora's Urban Market Strategy

CONSUMER BEHAVIOUR

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Matrika Gumashta
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0% found this document useful (0 votes)
104 views9 pages

Perfora's Urban Market Strategy

CONSUMER BEHAVIOUR

Uploaded by

Matrika Gumashta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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NMIMS Global Access School for Continuing Education

[NGA-SCE]
COURSE: CONSUMER BEHAVIOUR
Internal Assessment Applicable for June 2024 Examination [ Sem-3]

Answer 1:
INTRODUCTION
Perfora is an Indian oral care brand specifically known for its oral hygiene products. The brand
offers a wide range of products like SLS free toothpastes in different flavours and combos, tooth
whitening serums, electric toothbrushes etc. Perfora's toothpastes are best suitable for tooth
whitening, cavity protection, sensitive teeth, healthy gums and more. These products are
categorised under high-quality and premium pricing. It is of paramount importance to identify the
right market segment as it will highly impact the long-term growth of the brand. To determine
which market Perfora appeals to the most, we should analyse the features, benefits, pricing and
positioning of the brand. Brand ambassadors play a vital role in shaping a brands image therefore
Perfora should analyse all the reasons before selecting the right brand ambassador.

CONCEPT AND APPLICATION


Market Segment:
Determining the target market segment is the process of dividing a market of potential
customers into groups or segments based on different characteristics. It involves a thorough
market research and analysis to understand consumer needs, preferences, demographics and
behaviours. Segmentation can be done based on the criteria like demography, geography,
psychography and consumer behaviour. By considering these segmentation bases, a brand can
effectively target the specific market segments that are most likely to be interested in their
products or services, tailoring marketing strategies and messages to effectively reach and
resonate with these segments. After examining different segments based on factors like age,
gender, income, geography, lifestyle and psychographics I feel like the brand Perfora mostly
appeals to the Tier I and Tier II cities of India. Reasons being: -

 These cities have access to modern retail channels including supermarkets, hyper markets
and e-commerce platforms which makes it easier for brands to reach to the consumer
and showcase their products.
 These urban centres provide a substantial customer base with diverse preferences and
needs.
 People in these cities are becoming more educated about the impact of oral hygiene on
overall well-being and seek high quality products to maintain their oral health.
 Urban dwellers are more likely to invest in premium oral care products due to their
disposable income and awareness of health-related issue.
 Lifestyles in these cities often involve fast-paced routines, stress and irregular eating
habits. And hence consumers seek convenient and effective oral care products to
counteract the effects of their busy lives.
Choosing the right brand ambassador:

 Alignment with the Brand Value: While picking up brand ambassador for Perfora it is
essential to keep in mind that the brand's value of being committed to delivering high-
quality and innovative products for consumer well-being perfectly aligns with the
individuals' values and public image.
 Relevance and Authenticity: it should look for an ambassador whose public image reflects
the values of the brand and ensures credibility as well as the person in some or the other
way should have a connection with personal care or oral hygiene industry.
 Influence and reach: Perfora should reflect on the reach and influence of the potential
ambassador and his/her engagement levels across relevant platforms to maximize
coverage. Considering celebrities or influencers who have been in the industry for a
longer period of time can be effective for the brand.
 Positive image and long-term commitment: The individual should have a spotless and
strong public image as any negative association will harmfully affect the brand. Alongside
to build brand loyalty the brand should select individual who is willing to establish long-
term relationship with the brand.
Considering above stated criteria I would suggest Perfora three potential brand ambassadors
that will be appropriate
 Akshay Kumar: Akshay has a strong presence in the mind of Indian public. His health-
conscious image aligns well with Perfora's focus on oral health care. His endorsement
can highlight the importance of maintaining oral hygiene as a part of a holistic self-
care routine.

 Katrina Kaif: Katrina is a popular Bollywood actress with a massive fan following. She
exudes confidence and radiates a bright smile which makes her a natural fit for
promoting Perfora's oral care products.
 K.L. Rahul: Rahul as an Indian team cricketer has a strong influence on sports
enthusiasts and general public. His association with Perfora can emphasize the
importance of oral health for athletes and inspire public to maintain a good dental
hygiene.
Perfora needs to remember that the success of a brand ambassador lies in their authenticity
reliability and ability to connect with the audience. These individuals have the potential to
elevate Perfora's brand visibility.

CONCLUSION
While entering the direct-to-consumer market it is significant for any brand to choose the right
consumer segment. Perfora's offerings and price range are best suitable for the consumers living
in tier I and tier II cities as the growth rate is even more pronounced in such cities. Consumers
here are more aware about the importance of oral hygiene and are more likely to invest in it as
compared to other regions. To create a strong brand reputation and attract the targeted
customers base it is crucial to choose a brand ambassador that aligns with the values of the
brand as well as the consumers. Perfora should remember that the right brand ambassador will
create trust and drive awareness towards the brand. Hence it should select an ambassador that
authentically represents the brand and resonates with its audience.

Answer 2:
INTRODUCTION
A consumer's buying behaviour is influenced by several factors be it cultural, social, personal or
psychological. The statement "Products are purchased emotionally and justified rationally."
summarises the dual forces that drives the buying behaviour of the consumer specifically when it
comes to superior goods like gold and diamond jewellery. Tanishq is one of the pronounced gold
and jewellery brand of India. The brand shows how the buying decision is influenced by
emotional and rational appeal. The emotional appeal of jewellery is much more than just being
any metal or stone, it holds an exemplary value and represents emotions that sparkle through
celebrations and significant moments like birthday's, marriages, anniversaries etc. While rational
buying behaviour is more related to the brands reputation, investment value and quality. It is
strongly driven by logical reasoning and practical considerations.

CONCEPT AND APPLICATION


Emotional aspect:
 Sentimental value: The sentimental value of Tanishq jewellery goes above and beyond its
monetary value. For Indian consumers jewellery is not just adornments but it represents
personal stories, memories, connection to loved ones and their innermost emotions.
 Self-expression and identity: Jewellery is often a form of self-expression which reflects
consumer's identity and personal values, and Tanishq helps its consumers to shape their
identity. The brand's jewellery signifies life milestones, like engagement ring or a wedding
band, anchoring consumers sense of self and personal history.
 Culture and symbolism: When it comes to Indian culture gold and diamond jewellery
plays a symbolic role. It symbolizes with wealth, status, cultural identity, love and
commitment. What strengthens customers decision of buying is when they emotionally
connect with these symbols.
 Personal connection: Tanishq gives huge importance on building personal connect with
its customers. Customer's testimonials show how much they feel values and respected by
the brand. The brand's caring approach fosters the sense of belonging which makes every
customer feel special and cherished.
Rational aspect:
 Design and quality: Tanishq promises to offer its products with high-quality, purity and
accurate valuation. It evaluates every jewellery piece through a stringent process to
ensure that it satisfies its customers and stays true to its commitment. The brand has also
emerged as a creator for its exquisite craftsmanship which has made it a symbol of
authenticity.
 Loyalty: Tanishq has consistently worked towards building trust which has in return
resulted in unwavering loyalty of its customers. Customers share their relationship stories
with Tanishq spanning over a decade and more. This has cemented the bond between
Tanishq and its customers
 Hasle-free exchange process: Tanishq ensures that the process of jewellery exchange is
easy and is devoid of any hassles. This customer-centric approach of tanishq attracts
customers and makes the exchange process extremely accessible and fair for them. This
shows customers the brand's commitment and dedication to enrich the lives of its
consumers.
 Investment value: What makes buying gold and diamond a rational choice is that it holds
value over time. Customers after considering the emotional factors for initial purchase
also analyse the investment potential of the gold and diamond jewelleries which drives
them towards making a purchase.

Relationship between emotional and rational aspect:


As a matter of fact, the process of decision making not solely lies on either one of them but a
combination of both the emotional as well as the rational factors. Customers often consider both
while making purchase decision. They might evaluate the rational aspects of buying gold and
diamond jewellery, such as its design or quality or exchange processes but at the end emotional
factors affects their final decision. Understanding this relationship between emotional and
rational factors is crucial for Tanishq to form better strategies that will help it attract the
customers and build long-term relationship.
CONCLUSION
Gold and diamond jewellery places high value in the minds of the consumers, especially when it
comes to Indian consumers. Tanishq has formed its image of a trusted jewellery brand, a
guardian of memories and a symbol of authentic craftsmanship in the Indian jewellery market.
Its emotional and rational appeal makes it a perfect go to brand for meaningful jewellery.
Tanishq's advertisement strategies containing stories of love, family, birthdays, marriages etc.
often suggest deep emotions which resonates with customers. At the same time, it emphasizes
quality, accuracy, purity and craftsmanship in its messaging which drives to rational decision-
making. It successfully balances emotional appeal with rational justification.

Answer 3 a):
INTRODUCTION
The join-family structure of India, where multiple generations live together affects the subtleties
of buying decisions especially when it comes to Fast Moving Consumer Goods. The process of
making any purchase requires intricate and deep collaborations which is mainly because of the
preferences, collective needs and values of members of the family. Thus, it is necessary to
understand the roles of different family members in purchasing decision so that they can be
approached accordingly.

CONCEPT AND APPLICATION


Let's see how Indian joint-families take purchase decision:
1) Role distribution: In a joint family the role in decision-making might not be equal for all
the members of the family. Every member has a distinctive role but the purchase
decisions might be dominated by the husband (father) or the wife (mother). The wife
might dominate the decisions regarding cooking, kitchen or household things. On the
other hand, both members can take mutual decisions regarding other items like
consumer durables. Children of the family may sometimes take purchase decisions for
themselves.
2) Comparative Influence: The type of the product that has to be purchased, who is going
to use the product, who pays for the product purchase are some of many factors that
influences the buying decision. It involves all the members of the family. Suppose the
influence of the mother can be more when it comes to buying household items.
3) Age and Responsibility: Every member of the family is of different age and holds
different responsibilities. When we talk about children, their influence increases in
relation to increase in their age. While growing up they tend to become more and more
responsible and their awareness and information develops regarding the products as
compared to parents. This trend is popular in foreign countries as the children when
grown up to teenagers often have more time at their disposal when both the parents are
employed.
4) Tradition and culture: India is a country of diverse culture. Families here deeply value
their cultural roots and traditions. What cultural significance does the demand for
different products by the family member holds influences their purchase decision.
Cultural practices intensely influence brand preferences and choice of the product.

CONCLUSION
When it comes to fast-moving consumer goods (FMCG) products the purchase decision in Indian
joint families is often affected by the different roles, values, shared experiences and preferences of
the members of the family. Marketers need to analyse these shared but conflicting views of the user
of the product as well as its buyer to get the clear idea about the needs and wants of the consumer
and tailor its products and strategies accordingly.

Answer 3 b):
INTRODUCTION
Family structures have been changing with time. New family structures have emerged in the past
few decades, one among those is the blended family structure. Blended family refers to when a
couple starts new life together with their children from previous relationships. When it comes to
planning a vacation trip for such family, various factors which helps forming the final decision
comes into play which shapes the choice of destination.
CONCEPT AND APPLICATION
1) Family preferences and interest: while planning a vacation for a blended family the
interests and preferences of each member of the family matters a lot. Before picking up
any destination one should consider the interests and hobbies of the members according
to their age. For example, children might prefer an adventurous trip to Disney land, while
elders may want to go for a cultural trip to some historical place. It is essential to fine a
balance that caters to every member of the family.
2) Budget and cost: Families like this often have varying income levels and priorities. It is
crucial to consider the financial situation of the family. The cost of travel,
accommodation, meals etc. will impact the decision. The family should pick an option
which is budget friendly and suits every family member.
3) Accommodations: The rent of hotels or resorts or camping should be chosen carefully. A
greater role is played by the space, amenities and proximity to attraction. Blended
families might prefer larger accommodations to accommodate every member
comfortably.

4) Activities and attraction: It is important to check whether the destination offers family
friendly activities and adventures. Because these are the things that help them create a
stronger bond and create a sense of belonging for every member. Be it outdoor
adventures or cultural experiences, families want options that cater to every member.
5) Emotional well-being and comfort: For blended families vacation choices prioritize
emotional comfort and harmony. They prefer destinations which help them to relax,
reduce stress and reduces the potential conflicts.

CONCLUSION
The decision-making process regarding a vacation trip for blended family involves
considering the interests and preferences of the members, budget and cost spending,
accommodation, activities and at the end comfort and well being of the members. Involving
every member in the process helps them to consider their opinions and come to a common
ground. By addressing above stated factors one can plan a successful vacation that caters to
unique needs of a blended family.

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