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Impact of Consumer Behavior on Marketing Strategy Paper MKT/435

Impact of Consumer Behavior on Marketing Strategy Paper MKT/435 August 20, 2018 Bryan Rice

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Impact of Consumer Behavior on Marketing Strategy Paper MKT/435

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Impact of Consumer Behavior on Marketing Strategy Paper Service Caster Corporation, incorporated in 1993, is one of the most massive caster and wheel companies in North America. Service Caster designs, manufactures, assembles, and distributes casters worldwide from their location in West Reading, Pennsylvania. With over 100 years of combined experience with assisting clients select, design, and integrate casters into any desired application, Service Caster can provide the best service and products in the caster and wheel industry. Although Service Caster is already one of the largest caster and wheel companies, there is always room for growth. This growth can be achieved by utilizing the knowledge of Service Caster’s consumer behavior and adjusting their marketing strategies to fit their consumer’s behavior. Consumer Behavior Service Caster Corporation, a manufacturer and distributor of casters and wheels, understands that their target markets are large companies that require carts and machinery to move as well as basic do-it-yourself consumers. By understanding the target markets, Service Caster can better understand the consumers they must market their products to, how to attract them, and what their behaviors are. Service Caster Corporation has had an online presence for a long time, but Service Caster only established an online store in 2014 where consumers can purchase the many casters and wheels offered directly off of their website. By utilizing the knowledge of not only their employees but also the everyday purchases made by their consumers, Service Caster was able to quickly offer the best catalog of casters and wheels to online customers compared to other industry leaders. By utilizing Google Analytics and Google AdWords, Service Caster has been able to understand their online consumers better than ever before. Although Service Caster thought they had a good understanding and an online marketing

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plan, they quickly started to notice that their conversion rate was not nearly as successful as they had hoped for. After researching the issues further, Service Caster began to notice that their landing pages were the cause of the conversion rate problem. They quickly realized that the site fold was the first thing their consumers were seeing and that the site fold was not properly configured. In addition, Service Caster noticed that the information was not as clear to their consumers as it should have been on the landing page. By understanding the main issues with the website that were causing a poor conversion rate, Service Caster was quickly able to implement and update their site fold in various ways, include information that was clear to their consumers at the top of the page, and include high-quality images that quickly attracted the consumers in order to bring them further into the site. Overall, Service Caster Corporation utilized their knowledge of consumer behavior and their data from analytics to appropriately adjust and improve their online store’s conversion rate. Target Market Determining a target market, understanding the target market and figuring out what the target market wants is critical to the success of any company. In order to figure out what a target market wants, a company or organization must first determine their target market. Although great content may naturally attract an audience, it does not guarantee that it will be the audience your company or organization is looking for. Determining the appropriate target market will not only help the company focus on creating great content for the specific audience, but it will also help the company to establish themselves as an authority in a specific industry rather than creating content for its own sake. In addition to determining the appropriate target market, a company must understand their target market. By understanding and determining what problems the specific company’s product or service solves, who their current customers are, who their

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competition is, and what a customer will gain from choosing the specific company over their competitors, the company can understand why their content deserves to exist, the audience that will read the content, what their competition is doing, and why the target market should choose their products or services over their competitors. In regards to Service Caster Corporation, although they had a good understanding of their target market prior to opening their online store, they revisited these areas in an effort to increase and better their understanding of their target markets. By understanding and determining what problems Service Caster’s products and service solved, who their current customers were, who their competition was, and what their customers will gain from choosing Service Caster over competitors such as Caster City, Caster Connection, and Caster Depot, Service Caster was able to understand why their content deserved to exist, the audience that will read their content, what their competition is doing, and why the target market should choose Service Caster’s products over their competitors. Marketing Strategy When it comes to consumer behavior, it is critical that a company not only understands their specific consumer’s behaviors, but also that they alter their marketing strategy accordingly. Although Service Caster suffered some growing pains such as their landing page and site fold issues when first opening their online store, these were not the only issues that caused a poor conversion rate. After fixing these areas, although they began to increase their traffic and conversion rates, Service Caster quickly started to notice that they needed to make changes to their pricing and delivery times in order to stay competitive. Service Caster Corporation, a manufacturer and distributor of casters and wheels, is often pressed for fast delivery times and competitive pricing due to many large factories needing to repair equipment and machines immediately once they go down due to the factories often missing their deadlines or not being

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able to operate at all if a caster or wheel goes down when in service. Due to this, Service Caster quickly had to alter their marketing strategy in regards to their price and lead times so that they could stay competitive and provide their customers with what they were looking for. Conclusion In conclusion, although Service Caster was already one of the largest caster and wheel companies, they were able to become more successful by creating and implementing an online store. Due to Service Caster utilizing its knowledge of consumer behavior, determining what their target markets wanted, and altering their marketing strategy to their consumer’s behaviors, they were quickly able to make one of the most successful caster and wheel companies on the internet. Overall, Service Caster has benefited tremendously from the addition of their successful online store.

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References About Us (2018). Retrieved from https://shop.servicecaster.com/aboutus.asp Baldassarre, R. (2018). Five Ways To Refine Your Marketing Strategy. Retrieved from https://www.forbes.com/sites/forbesagencycouncil/2018/03/14/five-ways-to-refine-yourmarketing-strategy/#41db432d7c5c Porta, M. (2018). How to Define Your Target Market. Retrieved from https://www.inc.com/guides/2010/06/defining-your-target-market.html...