Essays on Throckmorten Furniture - the Buying Process Model and Price Value Assignment

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The paper 'Throckmorten Furniture - the Buying Process Model and Price Value" is a great example of a marketing assignment.   Going concern value - Throckmorten has been able to fulfil the going concern value in that it has been able to sell the product as an aggregate value. In essence, the going concern value advocates for the expansion of market research in order to gather enough information as possible concerning the needs of the customers and how they can be handled. Throckmorten furniture can make unique designs that can meet the unique needs of the customers Consumer confidence-The consumers for this company are highly cynical about the way the furniture can actually be appreciated by them.

This can be directly linked to the costs of the furniture. This is because wood furniture is normally very expensive and hence they are sold in sets only especially when it is considered that such purchases are deferrable Disposable income outcome-As consumer disposable income contuses to grow year by year, the prices for the wood furniture will continue to rise beyond the retail price. Economists believe that the industry will experience high levels of fluctuations in the next two years. Question 4 Analysis of how customers buy furniture Customers buy furniture depending on how the manufacturing company has advertised them.

Advertising is one of the tools which are effectively used to reach a target population, especially when launching new brands, getting into new markets or promoting special offers. Throckmorten Inc has used advertisements especially those in line with office and house furniture specified in the guidelines of Throckmorten. Throckmorten furniture uses the following advertising mediums; Use of billboards Improved public relations Special offers i. e. reduced prices Television marketing Using celebrities or respected personalities in the U. S Going by the figures provided by Throckmorten furniture, the company has been able to use at least $ 995,500 for sales expenses and administration while trade and consumer advertisements had cost the company $ 467,000 and $ 62,500 respectively.

Advertisements are always used to create awareness for Throckmorten furniture to the consumers so that the company may gain responses from their target markets especially when dealing with a new market. There are many other advertising mediums available and which include print; newspapers, journals and posters, electronic; television, internet and radio modes of communication which we may choose to create awareness of Throckmorten Furniture products to their consumers.

Another important medium of advertisement is an internet form of marketing that has recently become one of the forms of marketing that are utilized more effectively to reach more people. Sales promotion programs are programs and strategies which are intended to woo the customer to buy the product, especially when launching a new product. The sales programs are developed by the sales team with a view to meet the marketing needs of the company.

The most successful programs done by the company is the use of a sales promotion software that contain tools and information that is required to promote the furniture. Throckmorten Furniture uses the software to maximize sales, especially when dealing with industry to industry business. Promotion is an attempt to influence the buying habits and behaviour of an individual. Successful promotion programs include the communication tools that are required to pass the message from the sales force to the target customer.

The programs may include; direct marketing, public relations or advertisements.

References

American Society of Appraisers, (2005): Valuing Machinery and Equipment: The Fundamentals of Appraising Consumer Behaviour, 2nd ed., Tony Publications

John A. K. (2001): Market Value(s) by presented to the Appraisal Institute, 2001

Dictionary of Real Estate Appraisal, 4th ed.Chicago: Appraisal Institute

Jennifer L. (2004): Best Furniture Buying Tips Ever! The buying process; Harvard University press, Harvard.

Kathie, L. G (2007): Throckmorten Furniture, Inc. Case Study. Home Furnishings Council

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