There is something intriguing about The Royal Family of
England. The idea of a family representing a country socially has not only
England, but the entire world fascinated about their daily actions. For
example, Kate Middleton can wear inferior clothing brands such as JCrew and the
world is shocked. This forces consumers that like Kate Middleton’s style, but
do not look at JCrew products to give it another glance. With the royal wedding
between Meghan Markle and Prince Harry approaching, the world is anxiously
waiting for how the minor details will come together.
During this special
occasion, many producers make souvenirs for fans to remember this joyous
occasion. The producers analyze their competitors to have an idea of their
competition. Questions such as, what is something the consumer would purchase?
Will other competitors be producing items like mine? With other questions a
long the lines of those. By analyzing the competitor, competitive rivals,
competitive barriers, and competitive advantage the producer will slim the
chances of producing a product that will minimize profit. I chose this article because when Prince Harry and Kate Middleton got married, I found it interesting how the world was so involved in a matrimony between two public figures. Many companies took this opportunity to sell products that are unnecessary, but in that moment for the consumer was an impulse purchase.
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