Create an 810 slide PowerPoint presentation with speakers notes, or a 34 minute video, analyzing a new market segment for an existing product, identifying necessary adaptations, and developing a pricing strategy to attract new customers.
Consumer motivation is a fundamental aspect of nearly all areas of consumer behavior. It influences various stages of decision-making, such as need recognition and product evaluation. For instance, a family with young children might prioritize vacation options differently from a retired couple due to differing motivations. Additionally, purchasing decisions can be heavily influenced by the perceived prestige associated with a product, even if it doesn’t align with the consumer’s financial best interests.
Every consumer has ideals about their self-image and how they want to be perceived by others. These beliefs often extend to products and their role in fulfilling those aspirations. For example, someone might buy a sporty convertible because it reinforces their image of themselves as adventurous and stylish. Similarly, consumers may choose specific clothing brands to make a statement about their personal taste or economic status. However, predicting how these beliefs will translate into actual purchasing behavior can be challenging. A customer who believes that high-quality products always come with a high price tag might avoid a premium product if it is priced too low.
Understanding consumer motivation and behavior is crucial for companies aiming to attract new customers and create successful products. Marketers strive to develop offerings as ubiquitous as the iPhone or as recognizable as Oreo, but achieving this requires deep insights into what consumers need and want. By comprehending these dynamics, marketers can not only meet consumer demands but also generate profits effectively.
This assessment involves choosing a product and developing a strategy to market the product to a new market segment. Before starting the assessment, watch the multimedia presentation for guidance on selecting a product.
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Every company should attract new customers to existing products as well as create entirely new products. To that end, marketers hope to create products as ubiquitous as the iPod, or as recognizable as an Oreo. By understanding consumer behavior, marketers can meet that challenge and provide answers to consumers’ needs and wants while also generating a profit.
Determine a new market for an existing product and suggest the adaptations that would be necessary to the existing product to make it valuable to the new market.
Once you have selected a product, create a presentation or video that completes the following:
- Describe the product or service you selected.
- Examine and describe the market segmentation information. This includes the demographics and psychographics of the existing customers for this product.
- Assess ways the product would have to be adapted to meet the needs of the new customers.
- Describe the demographic profile of the new customers.
- Describe the new market segment you plan to reach.
- Develop a strategy for pricing this item to attract this new clientele.
Choose ONE of the following for your submission:
- Record a 34 minute video, ideally (or other accessible technology). Submit your video script along with your references.
- Create an 810 slide PowerPoint presentation with speaker’s notes.
Your presentation should comply with the following format and style requirements. If you need help with PowerPoint visit .
- Style: The text portion of the presentation must follow APA guidelines. These style guidelines do not necessarily apply to charts, diagrams, or tables.
- Writing and grammar: Make certain that all project components are professionally written and free of grammar and spelling errors.
- References: You must use proper APA style and formatting when citing and creating references for your sources. Include a complete list of references, including books, websites, articles, and other resources. Visit for help with APA.
- Submissions: Use Microsoft PowerPoint and Kaltura, or other video recording software.
Note: If you require the use of assistive technology or alternative communication methods to participate in this activity, please contact to request accommodations.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and scoring guide criteria:
- Competency 1: Analyze market segmentation.
- Describe a market segmentation and potential customers for the use of a product.
- Competency 2: Explain human motivation and the relationship to the consumer decision making process.
- Assess a company’s strategy to market a product, based on customer behavior concepts.
- Competency 3: Evaluate cultural influences on consumer behavior.
- Analyze strategies and concepts that influence consumer behavior.
- Competency 5: Communicate effectively using professional standards embracing diversity, equity, and inclusion.
- Develop a strategy to market an existing product to a new market segment and customer.
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