Please note each response should be in paragraph/sentence format, and should contain at least 3 to 4sentences for each response.
Scenario for Q # 1–1c
Most people laughed when Evelyn Ringler explained her product idea—a solar-powered vacuum cleaner. But the concept was practical and the technology used in the vacuum was the same as that used in many children’s toys. After setting up a demonstration booth in a mall in a Chicago suburb, Evelyn felt more assured than ever that her idea would be a hit. Consumers seemed receptive and offered helpful pieces of advice, such as how much they would pay for the vacuum, what colors they would prefer, and why they would not buy the vacuum.
The vacuum itself was dome-shaped, something like a small saucer, with a filter bag on top and sensory nodes along the edges. After being charged in the sunlight, the vacuum could run for 10 hours, covering a floor area of 600 square feet. As the apparatus lightly bumped into table legs, chairs, and so on, the sensory nodes allowed the vacuum to move around the objects in various directions. This is the same type of technology used in the manufacture of children’s race cars and walking dolls.
Evelyn knew that the solar-powered vacuum would be especially helpful to both elderly consumers, who may have a more difficult time with vacuuming, and on-the-go consumers who lead busy lives. The price would be above average but would likely reduce after Evelyn recouped some of her costs.
After a 500-unit production run and a substantial financial investment, Evelyn Ringler set up a multiple-city test market—in a Chicago mall and in an appliance store in New Jersey. “It’s such a novel idea,” Evelyn added. “People will notice it, even if they don’t buy it right away.”
1.Explain Evelyn’s product concept.
1a. Explain Evelyn’s concept test.
1b. Explain the target market to be outlined in the market strategy development.
1c. How might Evelyn Ringler forecast first-year sales of her novel idea?
2. Discuss B2B(business to business) marketing and discuss the main players in the buying center as indicated by Peroni.(your ibook author).
3. What are the 7 psychological factors that make up a consumer psychological profile?
4. The Consumer decision making process involves 5 steps. Please give an example of a big ticket item purchase, and discuss each stage (as part of your example).
5. How does an established brand, such as Nike, Coke, Apple, etc… continue to build equity in their brand? Feel free to use an example as part of your response.
IBook chapter from 5 to 8 is attached below
– APA Format.