Marketing and Soft Drinks
Project Guidelines
The major learning objectives of this project:
(1) Ensure that you understand the Fishbein model (A = (Bi.Ei); see attached note on this model.
(2) Learn how to measure the two components of the model in a typical consumer survey:
(3) Learn how to use the data for marketing purposes. That is, you should be able to use the concepts you have learned in this course to make recommendations regarding a good marketing strategy for your brand.
TO DO: Select a particular brand of any product category to study. Assume that you are hired as a marketing consultant to evaluate the strengths and weaknesses of the brand relative to the competition. In order to do so, you decide to utilize the Fishbein compensatory model of attitudes. First, conduct depth interviews with about 5 consumers (separately) to identify 5 attributes/benefits that consumers use to evaluate brands in your selected product category. Note: it is very important that you actually conduct the depth interviews -- that is the best way to get an idea of what attributes are considered salient for the product. Otherwise, if you just pick attributes at random, then you may have trouble in the later stages of the project, particularly in the part relating to the recommendations you need to make to managers.
Second, construct scales to measure (a) beliefs (bi) about the brand under study and one key competitive brand; and (b) consumers’ evaluations of each attribute (ei). Your questionnaire should include 5 specific attributes (e.g., try to avoid broad terms like 'quality '), selected on the basis of your depth interviews (attributes that are frequently mentioned by your respondents). Since there are two brands altogether (e.g., two different brands of soft drinks), you need (a) 10 items to measure bi (these items are brand specific); and (b) 5 items to measure ei (these items are not brand specific).
Important: When choosing the main brand (that is, the brand you are consulting
The major learning objectives of this project:
(1) Ensure that you understand the Fishbein model (A = (Bi.Ei); see attached note on this model.
(2) Learn how to measure the two components of the model in a typical consumer survey:
(3) Learn how to use the data for marketing purposes. That is, you should be able to use the concepts you have learned in this course to make recommendations regarding a good marketing strategy for your brand.
TO DO: Select a particular brand of any product category to study. Assume that you are hired as a marketing consultant to evaluate the strengths and weaknesses of the brand relative to the competition. In order to do so, you decide to utilize the Fishbein compensatory model of attitudes. First, conduct depth interviews with about 5 consumers (separately) to identify 5 attributes/benefits that consumers use to evaluate brands in your selected product category. Note: it is very important that you actually conduct the depth interviews -- that is the best way to get an idea of what attributes are considered salient for the product. Otherwise, if you just pick attributes at random, then you may have trouble in the later stages of the project, particularly in the part relating to the recommendations you need to make to managers.
Second, construct scales to measure (a) beliefs (bi) about the brand under study and one key competitive brand; and (b) consumers’ evaluations of each attribute (ei). Your questionnaire should include 5 specific attributes (e.g., try to avoid broad terms like 'quality '), selected on the basis of your depth interviews (attributes that are frequently mentioned by your respondents). Since there are two brands altogether (e.g., two different brands of soft drinks), you need (a) 10 items to measure bi (these items are brand specific); and (b) 5 items to measure ei (these items are not brand specific).
Important: When choosing the main brand (that is, the brand you are consulting