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Marketing Strategies: Electronic and Intelligent Walker

Exercise 1

In Lesson 1, slide number 26, you have a little question that could be interesting to debate: in which markets would you decide to enter for one of the products you can see there (electronic and intelligent walker, umbrella with GPS application), and why?

Just a short but very logical answer, please!

P.S.: about the intelligent walker, it is called iWalker, and it is a R&D project started and carreid out by researches from UPC (Universitat Politecnica of Catalonia). You can find more information (in English) here: https://www.researchgate.net/publication/267257758_Development_and_Evaluation_of_the_iWalker_An_Instrumented_Rolling_Walker_to_Assess_Balance_and_Mobility_in_Everyday_Activities

Exercise 2

Lesson 5. Inbound Marketing: slide number 9.

What would be your digital marketing strategy? Very rough and simple, maybe 5 or 6 points as a resume / wide preliminary idea.

Exercise 3

Lesson 9. Segmentation and behaviour. Slide 10.

Take a look at the pictures and try to write a profile of consumer / purchase behaviour per each picture. Please, we aware that I am not asking for segmentation, try to define the purchase behaviour process that follows each kind of person.

Just think that, as a marketer, you have to make some influence at some point to get a positive purchase decision for your product or service.

Answer

MARKETING STRATEGIES

Exercise 1 

Preferable product for market entering (Electronic & Intelligent walker) 

The electronic and intelligent walker helps in going beyond the conventional walkers through communicating with the user of this i-walker. This electronic device can be able to understand the different variety of voice commands, which can be activated in terms of the given verbal instructions of its users. In order to maintain this functionality, i-walker includes different elements like personalised electronic software agent and independent movement. However, as i-walker can be used in terms of medical rehabilitation, it can be more helpful in recovery for patients. 

Preferring the market for i-walker would be beneficial for the marketers as per the current industry trends of the AI market. Based on the global market of AI, huge growth in the different industry is expected, whereby, the global market size is expected to grow by 55.6% in 2025 (Market and markets, 2018). Additionally, as i-walker is completely based on artificial intelligence technology, this is the market with the fastest developing technologies. AI has positioned in the core terms of next-generation technologies in the market, whereby, i-walker can play a crucial role in terms of the healthcare sector. In addition, the rise of technological advancements in the products such as i-walker can attract a large number of the customer base, which had already increased the investment in AI and thus confirms a high market growth. Therefore, based on the increasing AI market investment along with an increasing choice of AI-based products of the customer, the choice of i-walker would be preferable for the marketers. 

Exercise 2

Inbound digital marketing of rural tourism house

In terms of the rural tourism house, using the advanced digitized strategy can provide the wider opportunity to marketers to have maximum ROI in the competitive edge. In this regard, directly from the official websites of the services of rural tourism house, digital marketing through social media can be more helpful towards gaining maximum ROI. Considering different channels of digital marketing such as SEM (Search Engine Marketing), SEO (Search Engine Optimisation), it can be possible to gain major profit in the cutthroat competition of the market (Forbes.com, 2018). In accordance with the social media networking sites, the interaction between customers and marketers becomes easier that helps in creating greater market opportunities in the similar interest. 

In terms of gaining high ROI, it is first needed to place the rural tourism house in the marketplace by informing the customers about the house. SEO, in such terms, can be used to increase the visibility of the house on an online channel that can help to gain more customer recall (Ryan, 2016). Moreover, the websites of this rural tourism house need to be designed and indexed easily and bought to the light through the search engines. Apart from that as social media is more helpful in building effective communication with their customers, as the presence on the social media pages of this rural tourism house can promote and advertise the house to a large base of customers from different geographical region. Additionally, as promotion is a crucial factor in enhancing the sales and customer recall, thus, the rural house can advertise them through providing videos and images of the interior designs and site seeing through using social media channels of Facebook and Instagram (Ashley & Tuten, 2015). 

Exercise 3 

Customer profiling of three individual people 

The customer buying depends upon the increasing trend of the market, where customers taking their decision based on the two forms of reasoning such as emotional and rational. In the first picture, it can overview that two girls following the age of 22-28, are having smartphones in their hands, which becomes the current market trend.  The picture depicts their fascination with the smartphones, where the customers from their age group generally spend maximum time on smartphones. Thus, their buying decision might be influenced through the online ads and reviews on a particular product. In addition, the picture depicts their student and working class lifestyle, who can afford an expensive smartphone as an asset (Zhang et al. 2016).  

On the other hand, the second picture gives us a clear overview that four women are buying a branded handbag from a well-furnished franchise store, which shows their habitual buying behaviour. In terms of their habitual buying behaviour, those women highlight their strong brand loyalty and habitual pattern of product purchasing. However, as it is found that those women are buying branded handbags from franchise store, their financial stability is high and it reviews complex buying behaviour as they involve in selecting a product from different product range and brands (Sinha & Sheth, 2018). Therefore, customers are highly influenced by product and pricing criteria. 

The third picture has portrayed the transitional lifestyle of the customers that have major social and cultural influence. It displays the homebody aspect of the customers, which is based on the feeling in touch with his root. Based on the dressing style of the third picture, consumer buying pattern behaviour towards purchasing the products such as apparel can be highly influenced by his culture and tradition. Thus, marketers need to analyse the cultural aspects of their target customers in order to understand buying trends of the customer.   

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