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Consumer Preference

Consumer Preference. The products the consumer want (prefer) have changed over the last 20 years. Consumers now prefer healthy, easy to use, fresh produce. Eating out has become more common rather than the preserve of the wealthy.

ayanna-gibbs
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Consumer Preference

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  1. Consumer Preference • The products the consumer want (prefer) have changed over the last 20 years. • Consumers now prefer healthy, easy to use, fresh produce. Eating out has become more common rather than the preserve of the wealthy. • Each year the number and range of products avaliable for consumers increases, e.g. a major supermarket chain in the USA is offered 250 new products each week. If any of these new products are to be sold in their supermarkets, slower moving products must be removed from their shelves.

  2. With so many new products on offer for consumers, primary producers must be aware of, and be able to sell what is wanted when it is wanted. • Because markets change so rapidly producers (farmers etc) can not assume that what is being sold successfully this year will be demanded next year. • Manipulating consumer preference / demand is one way that marketeers can determine what produce will be bought.

  3. Consumer perference for a product can be changed by: • Telling the consumers about the product (advertising) • Telling them how to use it (in-store promotions, cooking programmes) • Repackaging the basic product • Changing the basic product • Using the product in different ways (woollen oil booms) • Making a new product altogether by processing the basic product (value added products such as HashBorwns)

  4. Technological changes have allowed products to altered to change • The apperance of the product (grading machines) • How the product is used (kiwifruit juice) • How the product is presented (chilled meat) • Altering products by breeding for specfic characteristics is another method that can be used to satisfy consumer demand. • Farmers can breed for resistance by culling susceptible stock. This allows them to sell the animals as organic when chemicals are not required to combat parasites.

  5. Exercises • Potatoes are sold fresh or processed. Name at least 5 ways that potatoes are processed. • For the product the you are studying, identify at least 3 value added products. • Explain why these products are worth more money than the basic product. • Identify how your product is sold i.e. how is the product advertised? • Describe the overall trend in consumer preference for your product over the last 5 years, 10 years and 20 years? Explain why there is that trend.

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