Scope of Work/Rationale Essay
Essay Topic: Health
Paper type: Essay
Words: 1199, Paragraphs: 16, Pages: 5
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Yee Man-Siu (2002:185) In today’s consumer market, it has been identified that one of the most significant niche is the safety-conscious consumer. This segment is willing to pay more as long as the safety and benefits of the product is not short-changed. This group of individuals views a defective product as one that does not comply with the standard of reasonable safety that a person is entitled to. Of the extrinsic attributes of a product, price has been found to be crucial in affecting perceived quality and safety.
To address these product attributes serving as one of the main sphere of influence for pre-purchasing, a study was conducted. Salehi (2007:177) Mailed questionnaire approach was best for the study given the following justifications: (a) extent of reach, (b) time and privacy of the respondents, as compared to interviews on the telephone or even on personal interviews, (c) low cost of conducting the study, and (d) biases are eliminated or does errors prejudice the information provided.
The instrument being used was validated and further evaluated by a panel of judges to ascertain the level of measurability and effectiveness of the technique or the approach. As in any form of garnering data or market research, the success rate is highly dependent on the positive turnout of the number of respondents. In relation to the number of respondents, how the questionnaire also appears also contributes to the success rate of the study.
The procedure for administration of the questionnaire used in this study was designed to insure the highest possible response rate. Permission for use of of subject was also secured from the Institutional Review Board. Texas, being the subject of study has 1,277 members within the biology faculty that were provided with the questionnaire in the form of a cover letter, a survey instrument and a return self-addressed, postage paid envelope. Two months were allotted for the faculty members to complete and return the questionnaire.
Official mailing list of the Texas biology faculty was obtained from the College Marketing Group Information Services in Wilmington, Massachusetts at a relatively modest cost, a major advantage point for this study. Several Hypotheses were built from the perceptions shown by the consumers towards the products they are purchasing: The higher price, the higher level of perceived product safety Products with familiar brand names are perceived as having a higher level of product safety than those with unfamiliar brand names
Brands of the products from and products manufactured in more developed countries are perceived as having a higher level of product safety The more specialized a store is in selling the product, the more highly will the safety of its products be perceived Products that are promoted by experts are perceived as those having the highest level of safety, followed by those promoted by an ordinary user, an those promoted by a celebrity, in that descending order.
Products that are tested by government agencies are perceived as having a higher level of safety than those tested by private agencies, while products without testing are perceived as the lowest level of product safety The above attributes will be illustrated in a quantitative study through the following: Results of Analysis Studies from Survey: Another comprehensive exploratory research was also conducted to evaluate the product attributes of these bio-products – are they really willing to pay extra for the packaging of these environmentally-sound products?
In this study, the most basic product – laundry detergents – was chosen to be the subject in order to examine the relevant labeling stimuli of these products. This will give the marketers and other decision-making bodies of the firm as to whether the need to revamp or continue the same kind of packaging they have, given its strong influence in sales and product perceptions. Summary Advancements in biotechnology have come a long way towards human development and resource allocation efficiency.
The rise of green marketing which involves biologics or bio-products like bio-cosmetics began to shed light to the so-called inequalities of a person or of the environment. Treatments and enhancements for delivering or reviving one’s Fountain of Youths are then made possible by these scientific breakthroughs. Although there may have been issues pertaining to the ethical implications of these products, men and women all over the world began to indulge themselves with more environment-centered activities, topics or sources of information prior to the actual purchasing process.
The environmental literacy and involvement of the people has increased that certain perceptions about the product were identified that has made an impact on the attractiveness of the product. Given that this has already become a booming industry and indeed a promising one in the near future, government agencies have to play a role in ensuring that standards are met and that the delinquent ones be reprimanded. Marketing of these bio-cosmetics thus involve several matters especially if sales are made overseas.
The conditions of the niche market should be carefully studied and understood, in order to deliver the supply that will almost exactly meet a demand. This consumer literacy revolution has also paved way for corporations to open their mindsets that it is truly not all about profit-making but the integral part of being involved and realizing his responsibility to the world will drive him to do more to the society beyond what is expected from him. Bio-cosmetics is a thriving industry, which should be handled with care so as not to spoil the market and lose potential loyalty and confidence.
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