Mrkt 100 Product Assessment
Assignment 1: Product Assessment
Principles of Marketing I
Winter 2013
February 10, 2013
Choose a consumer product or service that is on the market today, but is declining in appeal to consumers. This product should be marked for “obsolesces.”
1. Discuss this product or service in terms of its current target market demographics using U.S. Census Data. One of the most commonly used computer data storage medium is a computer disk or also known as a floppy. These are used in everyday life, in either our workplace or at home. These disks have many purposes, such as: Storing data: Floppies can be used to store software/data for short periods of time, Transferring data: Floppies are used to transfer/copy data from one computer to another. Hiding data: Floppies are also sometimes used to hide sensitive or confidential data, because of the disk 's small size it can be hidden very easily. My target demographic would be people between the ages of 18 - 64 they make up 62.3% of the population and 53% are living in the 50 – 90 percentile of poverty. Their total household income is right under the national average. Many households would not have up to date technology, so most of the personal computers found in their home would still have a floppy drive. This demographic would have the money only for necessities and any extra money would be saved and no spent on upgrading a computer especially if it stills work.
2. Determine why you believe the product or service is declining in popularity. Be sure to include information on social, demographic, and ethnic markets; economic and technological factors; political and legal factors; and competitive factors. Since its introduction, the hard disk drive has become the most common form of mass storage for personal computers. Manufacturers have made immense strides in drive capacity, size, and performance. Today, 3.5-inch, gigabyte drives capable of storing and accessing one billion bytes of data
Principles of Marketing I
Winter 2013
February 10, 2013
Choose a consumer product or service that is on the market today, but is declining in appeal to consumers. This product should be marked for “obsolesces.”
1. Discuss this product or service in terms of its current target market demographics using U.S. Census Data. One of the most commonly used computer data storage medium is a computer disk or also known as a floppy. These are used in everyday life, in either our workplace or at home. These disks have many purposes, such as: Storing data: Floppies can be used to store software/data for short periods of time, Transferring data: Floppies are used to transfer/copy data from one computer to another. Hiding data: Floppies are also sometimes used to hide sensitive or confidential data, because of the disk 's small size it can be hidden very easily. My target demographic would be people between the ages of 18 - 64 they make up 62.3% of the population and 53% are living in the 50 – 90 percentile of poverty. Their total household income is right under the national average. Many households would not have up to date technology, so most of the personal computers found in their home would still have a floppy drive. This demographic would have the money only for necessities and any extra money would be saved and no spent on upgrading a computer especially if it stills work.
2. Determine why you believe the product or service is declining in popularity. Be sure to include information on social, demographic, and ethnic markets; economic and technological factors; political and legal factors; and competitive factors. Since its introduction, the hard disk drive has become the most common form of mass storage for personal computers. Manufacturers have made immense strides in drive capacity, size, and performance. Today, 3.5-inch, gigabyte drives capable of storing and accessing one billion bytes of data
References: Hair F. Joe, Lamb W .Charles, McDaniel Carl (2012). MKTG 6th United States Census Bureau (2013). Retrieved from http://www.census.gov/people/ CIA Factbook. (2013, February 05). https://www.cia.gov/library/publications/the-world-factbook/geos/gj.html#top