Fluent Essays

Positioning Statement paperI have a final paper for my marketing class. We have to write two positioning statements for two different products. One is the Ferrari f8 Tributo, the other product is Diors Pure poison perfume. I have also uploaded an example file of the format that is needed to be used.Final Exam- You may use any resource except another human being. Papers should not exceed 4 pages in length excluding any exhibits required. Note, I have not said how short a paper could be, but you must answer the questions. Single Spaced, 12-point type.If any links don’t work, please navigate to the product sites on your own.Please answer both questions.Q1. The Ferrari F8 Tributohttps://www.ferrari.com/en-USPlease navigate to the Ferrari website. Again google is a good source of product information. Please write a positioning statement for this supercar and discuss the TA, FOR and UPD issues associated with this car. In addition answer the following question. Why does Ferrari produce a car like this?Q2 – Pure Poisonhttps://www.dior.com/en_us/products/beauty-Y008320...Please use the above link to review the details associated with the above women’s fragrance. Write a positioning statement and review the CB theories associated with TA, FOR, and UPD for this popularly priced product.Please consider the value of this item to the Dior line. What is it?Is operant conditioning a key component to the sale of this item? Why or why not? example_file__1_.docx Unformatted Attachment Preview Drozdz J Section 2 Furbo Assignment Furbo Overview Furbo is a security camera designed for dogs. Their founder Victor Chang founded the company when he realized that if a small portion of dog owners in the U.S. felt the same way he did when they left their pets at home, then building a product to solve that problem could be a success. Which it has turned out to be successful, it is currently the number 1 best seller on Amazon, it also had an appearance on Ellen. Since the creation of the camera, according to the website there has been 510 dog lives saved with the camera from home fires to invasions. Section 1A- Positioning Statement To busy dog owners who cannot always stay at home with their dogs Furbo is the #1 dog camera that will provide the owners the ability to see and speak to their pets, being able to give them a treat, recording their daily activity, notify you when they bark, and also helps alleviate dog separation anxiety. TA, FOR, UPD Section 1B – Target Audience Principle target, I chose busy dog owners who cannot always stay home with their dogs as the principle target audience. There are not too many other choices for this group based on personal opinion. There is also a secondary group based on owners who feel their dogs experience separation anxiety when they are left alone. The size of the market is that there are 89.7 million dogs owned in the United States. With unemployment being so low today, many dog owners are out in the work force which means they leave their pets alone at home for a majority of the day. Since Furbo is a pricier camera we have to be subjective when estimating the market size. According to Statista the pet monitoring camera market is expected to grow. Sufficiency – There are numerous pet owners and the number is expected to constantly grow. Over the past 20 years there was an increase over 20 million dogs owned. There will always be pet owners and since technology is advancing there is a need for surveillance cameras for pets. Accessibility – Furbo reaches its target audience through the internet, social media, and specific TV programs. Furbo is the number 1 selling dog camera on Amazon. With more than 100 million people having access to Amazon Prime and 89.7 million people in the U.S. are dog owners, this is a great platform to create awareness to purchase the product. The specific TV programs are as well a great platform because it will reach the target audience and will persuade the sale of the product. Attitudes- Since many of these owners are already busy at work they would prefer not to spend any more time away from their pets, so purchasing this product online and having it delivered is the more preferred purchase method. Pet owners always feel bad leaving their pets behind alone at home. Once pet owners receive Furbo, they can check in on their pets when they can. This product is about power and success in the Tri-Component Model. Opinions- This target audience also seeks reviews of the product through the various outlets. With Amazon they are allowed to check on other people’s ratings of the product and see how it can compare to other devices. With the social media platforms, they can witness people using the product and how it benefits the users. This matters to pet owners because they want to make sure they are getting what they pay for when receiving this product and that it will not do any harm of their dogs. This product is about making pet owners feeling comfortable with their pets alone at home. Motivations- There are two motivations for this target audience and that is safety, love and belonging. The target audience wants to make sure that their pets are safe at home and staying away from trouble. They are able to check in on their dog whenever they want and can talk to them as well. With the love and belonging motivation is that the target audience can make their dogs feel loved even they are away by fetching them treats. The product is a bit pricier than other security cameras but Furbo is always running sales and that is a perk to the consumer on saving some money. Section 2 - The Frame of Reference Learning Theory – Furbo has a high price of $249.00, this is a functional risk because the product has to work well in order to check in on your dog and be able to throw them treats without the device being defective. This can result to the consumer switching to a cheaper alternative if the device does not perform well. Also, consumers may feel overwhelmed with the purchase of add on and may feel that they do not find it necessary or may think that they have to purchase the add on for the product to perform well. There also is a financial risk with Furbo. Their website offers numerous discounts for first time users and holidays. You can also purchase the product on Amazon. The problem with that is that on Amazon it does not offer the same discounts as it does on the website, and they have different price points. On Amazon the product is sold for $199 compared to the regular $249 on the website. On Furbo’s website currently they have a Mother’s Day sale going on for $179.00. Dog Owners may become hesitant on purchasing the product because they may believe they can purchase the product at a different distributor for a cheaper price. With the fluctuations in price the psychological risk can affect the dog owner that the product is not worth its value if there are price fluctuations. ELM- Furbo uses the central route to persuasion. There is high involvement on their webpage. They considered the best way to get consumers to purchase their products. They compare their web came to generic security cameras, shows how many dogs their web came has saved, the uniqueness of their product with the treat dispenser, numerous alert settings, and how it is waterproof. This way the consumer sees firsthand why Furbo is better than their competitors. This saves time and research for the target audience. The visual message Furbo sends is that on their webpage they include their 35 second introductory video of Furbo. This is the first thing the target audience sees on their page to understand the product. There are not too many words on the site but instead there are more pictures and actions showing what their product does vs their competitors. All their media is done on their website, amazon, social media, and TV programs. Their videos focus on the awareness of the product but also focus on the communicative features it has as well. Section 3 Unique Point of Difference Stimulus Generalization- Dogness is a Chinese animal camera company. They offer a Smart White Cam Treater that is similar to Furbo’s. Their product is almost identical to theirs. This can cause confusion for the target audience. They also have similar features as the treat dispenser, a microphone to interact with the pet, take pictures and videos. Dogness has expanded their webcam line to offer more features like a feeder. Their product is also sold on Amazon. With Furbo it offers a nanny subscription where it offers more technological advances than Dogness. Stimulus Discrimination- If Dogness were too offer a similar subscription as Furbo this could hurt Furbo as a company. Dogness also has a lower price point of $149 and it could hurt Furbo’s brand loyalty and decrease their sales. Brand Equity- Furbo has high brand equity since they are the number one seller for dog cameras on Amazon. Their latest brand equity was approximately $511,000. This shows that the company is well established and has consumer loyalty. Conclusion This is an essential product for dog owners. Furbo has excelled in the home surveillance category with a twist. Furbo is completing numerous tasks for dog owners. The camera is allowing Furbo to excel the company and product itself. It is introducing a whole new line of security cameras and being able to be more interactive with the camera. The introduction of the subscription will allow customers to stay loyal to their product and keep them engaged with the company yearround. This product is perfectly suited for the target audience and this product promises so much to their audience that it keeps them worry less about leaving their pets at home. Perceptual Map 4.6 4.5 Wopet Furbo 4.4 4.3 4.2 4.1 4 Dogness 3.9 $0 $50 $100 $150 Ratings were taken from Amazon out of 5 stars. $200 $250 $300 ... Purchase answer to see full attachment