Consumer Behaviour

Topics: Tiffany & Co., Marketing, Luxury good Pages: 20 (5978 words) Published: May 16, 2013
MMK266 Consumer Behaviour Research Report|
Tiffany & Co. Australia|

Table of Contents
1.Introduction and the New Consumer Product or Service4
Tiffany and Co. Australia4
New product – iPhone case4
Target Market4
2.Issues Facing Consumers in Adopting this New Product or Service6
Sociocultural factor (Facilitators)6
Attitudes (Facilitators)7
Belief (Barriers)8
Decision Making (Barriers)9
3.Consumer Response to these Issues10
Profile of interviewing respondents10
Interviewing Questions12
Summary of the answer16
4.Recommendations and Conclusion18
Perception map21
We aim to give customer a perception that Tiffany & Co.’s iPhone case is high quality and state-of-the-act.21
Appendix A – transcript of the interview28
Respondent 1:28
Respondent 2:31
Respondent 3:34
Respondent 4:37

1. Introduction and the New Consumer Product or Service
Tiffany and Co. Australia
Tiffany and Co. Australia is notably one of the most reputable luxurious and prestigious jewellery brands known in the world. Since its inception in 1837, Tiffany has been renowned for its rare luxury goods, especially its magnificent diamond jewellery and its diamond engagement rings. Tiffany and Co. markets itself as an arbitrator of sophistication and elegance. (The Tiffany Story, Tiffany and Co. 2012)

New product – iPhone case
Tiffany has always met its customers’ needs and wants; even above and beyond expectations. It prides itself on “innovation, creativity and brand recognition”. (Tiffany and Co. 2012) Due to the ever increasing popularity and success of the Apple iPhone, it is target marketing a younger, more affluent Generation X and subsequently offering its customers an exclusive and prestigious iPhone cover – fully encrusted with its magnificent diamond jewels. This top of the range and unique phone cover is aimed and position to also satisfy its high-end clientele and upper-class elite market. Through market segmentation and consumer behaviour, this phone cover will embrace sophistication and value that is instilled in each and every Tiffany product and its brand.

Target Market
Tiffany’s iPhone cover will appeal to the high-end spectrum and social class of society which is predominately the prosperous and affluent; however it is priced reasonably so that it is affordable to the average female. The majority of its target customers will range from 16 and 35, with iPhones who are socially-savvy and like to be perceived as classy and elegant. Most of its consumers will be living in the affluent inner-city suburbs and earn above average medium income. According to Maslow’s Hierarchy of needs, this level of physiological needs is concerned with the ego which may include the need for self-acceptance, self-esteem, success and independence. Externally, this directed ego needs include the want for prestige, reputation, status and recognition from others. This presumed desire to “show off” one’s achievements, success or simply this iPhone cover accessory is highlighted by the need for this exclusive phone cover. Hence, the motivation for this accessory is to satisfy a need for status, or more specifically the need to feel empowered, classy and prestige. (Schiffman, L., O'Cass, A., Paladino, A., D'Alessandro, S. and Bednall, D., 2011)

2. Issues Facing Consumers in Adopting this New Product or Service urgence Two positive consumer issues:
Sociocultural factor (Facilitators)
According to Castells (cited in Jiang 2012), the iPhone has become a culture surrounding young people’s adoption and consumption. The iPhone has become a symbol of high class and social status in young people’s lifestyles. In addition, Abrahamson and Rosen kopf (cited in Delre, Jager & Janssen 2007) conducted a study regarding sociocultural factor related to...
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