Consumer Behavior on Major Home Appliances.

Paper Summary:

The paper analyzes consumer behavior when buying major home appliances, focusing on the "Maytag" brand. The paper discusses how the decision-making process affects product pricing and product positioning in the market. The writer discusses how, because this is a need-driven rather than a purely want-driven product, and requires planning rather than impulse buying, demand will be less elastic in terms of price, and more dependant on other factors such as changes in life circumstances, such as home buying, marriage, or relocation from one area to another.

Table of Contents:
Customer Description at Industry Level
Describes which Variables are Relevant to Describe Segments
Explain why those Variables are the Relevant Ones
Segments are Defined
Needs and Wants are Identified
Is Decision High or Low Involvement?
Describe Decision Process
If Joint Decision, Describes Roles Consumers Play in the Decision
Demand Forecast

From the Paper:

"The fact that durable goods purchases are not yearly purchases, and are usually made by individuals who have made a commitment to saving for a home and who are older and more highly educated than the average consumer, means that customers are seeking a high level of quality, not simply just the cheapest good possible, which means that low pricing is not enough. Maytag's reputation is for quality of service as well as low pricing also confirms that a discount is not enough to create demand for an item."

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