Wall Street Journal Activity

The Disappearing Middle

 

1.      The first stage of the buying process is attention.  According to the article, what is causing the American consumer’s attention to focus on premium and luxury goods?

 

2.      Interest is based on the consumers’ personal feelings.  According to the article, how has globalization helped change the American consumers’ interests?

 

3.      Terry Kominsky’s change in desire exemplifies the process that consumers go through when shopping for a product.  Explain how desire influences the buying process.  Have you ever spent more than you had intended for a product?

 

4.      Jim and Diana Boyd purchased Whirlpool’s new $2,200 Duet washer and dryer to replace their old ones.  Mrs. Boyd’s conviction is exemplified in her statement, “We find in the long run it’s more cost effective to have high quality products because they perform better and last longer”.  Do you agree or disagree?  Why?

 

5.      According to J. Walker Smith, president of a marketing consulting firm, “American consumers no longer view the middle-class lifestyle as a goal.  Everybody wants to be at the top”.  He calls this “the mainstreaming of affluent attitudes”.  Discuss some reasons for this change in attitude.  How have marketers influenced this attitude?  How does technology play a part in this change in attitude?

 

  1. What is meant by the customers’ expectations of a brand?  What is the risk to the manufacturer if the product doesn’t meet the customers’ expectations?

 

Internet Activity To be completed in class on Wednesday

 

Use the Internet to research one product you would be interested in buying such as an automobile, a DVD player etc…  Find a top of the line, middle, and low model for each product.  Record the name of the company, brand or model for each price.  Describe the features of each product and your perception.  Is it high quality or low quality?  What do the products have in common?

 

Which product would you choose to purchase and Why?