Price is also an important factor for younger customers because they have just started their careers and can’t spend large amounts of money on vehicles but still want high value products. Family sized cars can’t offer the features that these buyers need and for this reason price will be irrelevant in this case. In other words, pricing will only matter for cars positioned to attract young buyers; vehicles not in this segment will not matter much to the buyer.
Single sized food packaging attracts customers that need small portions of a certain type of food. It helps control consumption of a certain food item by ensuring a precise amount is consumed. Since many food items have alternative brand names, pricing is an important consideration consumers make as is brand recognition. Single sized food packing is meant for people who have very fast paced life and prefer to have food that is ready to eat in a short period of time.
Many brands offer single sized food packages that contain similar products, for this reason many people buy solely on price while other buy based on brand. Those who buy based on price don’t care much about what brand the product is or whether it tastes different from the other. Those who buy based on brand do so because that’s the product their mind refers to when grocery shopping. Looking at the statistics from the ABS, we see that spending on food is not very high which shows that consumers stick to the cheapest food alternatives.
Buying single packaged food does not require research; consumers just go to the supermarket and buy products they lay their eyes on. For this reason, pricing is more important than brand recognition. Also, food products are generally not part of the product cycle and therefore, the adoption rate does not change much. For this reason, effective marketing can only be done by advertising lower prices than competitors.