Consumer behavior is vital to understand as companies. It tells you what and how to meet the needs of consumers, as well as what motivates them to buy a product. Though companies launch numerous successful products throughout the year, there are also other times that companies miss the target.
Alone in 2013, there has been hundreds of new products launched, from beauty products to technology gadgets.
Two of the latest technology gadgets on the market are the Samsung Galaxy Gear smartwatch and the iPhone 5C.
Although the Samsung Galaxy smartwatch recently launched in the market, the reviews have already poured in, and the verdict is mostly bad. Samsung is not the first to launch a smartwatch, but the expectations were high.
There is a list of complains about the new gadget from the consumers and gadget critics. The first one is that the smartwatch can only operate with the Samsung Galaxy Note 3. It cannot perform by itself and it is not compatible with any other smartphone at the time.
Another complain is that the price of $299 does not seem to match the performance of the watch.
Furthermore, the gadget is simply not that innovative. It doesn't do anything that a smartphone can't already do. There's only a few apps it has installed and it must be in sync with the Galaxy Note to work. This is very important to note because this shows that the company missed a huge part of their mission in launching the product: to meet the needs of costumers. This gadget does not meet any needs that a smartphone already doesn't. For this specific reason, many critics are calling the Gear smartwatch an accessory to the Samsung Note 3.
Lastly, the Samsung Galaxy watch has to be charged 1-2 times a day, despite the "25-hour battery-life" expectancy according to Samsung. This makes it very inconvenient for the heavy users, as it also drains the battery of your Samsun Note 3. As I mentioned earlier, Samsung is not the first to come out with a smartwatch. Another company named "Pebble" had launched a smart watch in recent years and that smart watch required only a weekly charge.
It is safe to say that the Samsung Galaxy Gear smart watch is a great example of a failed product based on consumer behavior.
Apple recently launched two new iPhones, instead of one, as it always does. The iPhone 5s and the iPhone 5c are new on the market and the reviews are closely split but with a positive reaction from critics.
For the sake of comparison, I will talk about the iPhone 5c. The marketing big idea of the iPhone 5c is that it is "cheap." "Cheap" in comparison to their other products. If you plan to buy the iPhone 5c, you are looking to spend $549 for a 16GB. On contract however, the price is a bit more handsome, $99 for a 16GB and $199 for a 32GB.
Apple was able to cut down the price by loosing the glass/aluminum body and use polycarbonate. The exterior also comes in a variety of colors. Some people are claiming the change of exterior colors is simply copying the Nokia's Lumina.
Moreover, the frame is thicker than the usual sleek frame iPhones are characterized by.
On other aspects, the iPhone 5c stays similar to the previous iPhones, including the 5s. It has the same key buttons.
The iPhone 5c is an example of a successful product because it has new features that motivate consumers to purchase the product. It is available in a wide range of colors, not just white and black. It is cheaper than most iPhones when they recently enter the market, making it affordable to consumers who would not otherwise decide on an iPhone.
Consumer behavior is essential in directing companies of what new products to launch. Products have to have a reason behind them. What is the purpose for them? Do they help consumers in anyway? Does it solve a problem? Will consumers be motivated to purchase it? If it does not meet any or half of the requirements, most likely, it will be another failed product soon to be forgotten.
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