Creatively meeting the needs of customers is an important aspect of any businesses. Finding new customers for an existing product is one variable that can make a company successful. This assessment provides an opportunity for you to put consumer behavior theories into practice using a real-life example.SHOW LESSBy successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:Competency 1: Assess the role the customers assume to acquire, consume, and dispose of products and services.Assess a company's strategy to market a product, based on customer behavior concepts.Competency 2: Analyze consumer behavior.Examine a market segmentation and potential customers for the use of a product.Competency 3: Assess the managerial application of customer behavior concepts.Analyze strategies and concepts that influence consumer behavior.Develop a strategy to market an existing product to a new market segment and customer.ContextEvery company should attract new customers to existing products as well as create entirely new products. To that end, marketers hope to create products as ubiquitous as the iPod, or as recognizable as an Oreo. By understanding consumer behavior, marketers can meet that challenge and provide answers to consumers' needs and wants while also generating a profit.Toggle DrawerQuestions to ConsiderTo deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community.SHOW LESSMany companies are good at creating more efficient versions of existing products but often have trouble generating new products that are innovative and fit with changing consumer interests. Consider the following questions as they apply to a company for which you have worked or currently work:How could management staff in the company encourage the creation of new products that fit customers' needs?What are specific changes or improvements the company could make to better determine customer wants and needs?What are practical examples of how management staff could adjust the organization so that new product ideas could become a reality within the organization? Obviously, money is always an issue for companies. Hence, considering the company's size, think of reasonable ways the company could spur innovation.ResourcesSuggested ResourcesThe following optional resources are provided to support you in completing the assessment or to provide a helpful context. For additional resources, refer to the Research Resources and Supplemental Resources in the left navigation menu of your courseroom.Capella MultimediaClick the links provided below to view the following multimedia pieces:Choosing a Product – Topic Selection.Your assessment involves choosing a product and developing a strategy to market the product to a new market segment. This multimedia presentation offers suggestions about how to choose a product to use in your assessment.Consumer Behavior Terminology | Transcript.SHOW LESSCourse Library GuideA Capella University library guide has been created specifically for your use in this course. You are encouraged to refer to the resources in the BUS-FP4024 – Customer Behavior Library Guide to help direct your research.Internet ResourcesAccess the following resources by clicking the links provided. Please note that URLs change frequently. Permissions for the following links have been either granted or deemed appropriate for educational use at the time of course publication.KnowThis.com. (2012). Criticisms of marketing: Part 1. Retrieved from http://www.knowthis.com/principles-of-marketing-tu...KnowThis.com. (2012). Ethics in marketing. Retrieved from http://www.knowthis.com/principles-of-marketing-tu...American Marketing Association. (2012). Statement of ethics. Retrieved from http://www.marketingpower.com/aboutama/pages/state...Bookstore ResourcesThe resources listed below are relevant to the topics and assessments in this course and are not required. Unless noted otherwise, these materials are available for purchase from the Capella University Bookstore. When searching the bookstore, be sure to look for the Course ID with the specific –FP (FlexPath) course designation.Babin, B. J., & Harris, E. (2018). CB8: Consumer behavior (8th ed.). Boston, MA: Cengage.Assessment InstructionsDetermine a new market for an existing product and submit your concept in the form of a 15- to 20-slide Microsoft PowerPoint presentation.You will first need to select a product on which to base your presentation. You may wish to view the Choosing a Product – Topic Selection Capella multimedia presentation linked in the Resources for information on how to choose a product to use in your presentation.Once you have selected a product, create a presentation that completes the following:Describe the product or service you selected.Examine and describe the market segmentation information. This includes the demographics and psychographics of the existing customers for this product.Assess ways the product would have to be adapted to meet the needs of the new customers.Describe the demographic profile of the new customers.Describe the new market segment you plan to reach.Develop a strategy for pricing this item to attract this new clientele.Your presentation should comply with the following format and style requirements. Tutorials for using Microsoft PowerPoint are available in the Supplemental Resources in the left navigation menu.Length: 15 to 20 PowerPoint slides.Style: The text portion of the presentation must follow APA guidelines. These style guidelines do not necessarily apply to charts, diagrams, or tables.Writing and Grammar: Make certain that all project components are professionally written and free of grammar and spelling errors.References: You must use proper APA style and formatting when citing and creating references for your sources. Include a complete list of references, including books, Web sites, articles, and other resources.Submissions: Use Microsoft PowerPoint.Consumer Behavior Presentat

Do you think the interest on payday loans is too high or just right? Should Christians charge poor people interest on loans? Additional information: "Now in case a countryman of yours becomes poor and his means with regard to you falter, then you are to sustain him, like a stranger or a sojourner, that he may live with you. Do not take usurious interest from him, but revere your God, that your countryman may live with you. You shall not give him your silver at interest, nor your food for gain" (Leviticus 25:35–37, NIV). Search the internet for "Microloans" or "Microcredit" and review the interest charged on these loans.