below attachment is my group work for Uni. My part is to talk about Internal Factors which has 2 parts ( personality and lifestyle ) and ( needs and motivation )
Hey, so internal factors that I chose to cover are Personality and lifestyle & Needs and motivation. Find this in slide 1 then refer back to what I wrote in the assessment plan and learning module that covers both topics so you can get a more in depth understanding.
Personality and lifestyle:
Discuss “why” Fonne is suitable for young adults with busy lifestyle & prefer trendy technology.
-Fonne is cheap and is suitable for young adult but why? Why do young adults need cheap and convenient smartphone? Elaborate on it more.
Needs and motivation:
Explain why technology is related to motivation and needs.
List the factors that will motivate people to buy Fonne and explain WHY those factors motivate people to buy Fonne.
Basically just explain more and add more important points 250 on each . Please do in text reference as well.
Corporate background: Fonne is a Sydney based technology company, recently founded in 2017. Fone designs, manufacture and market Laptop, Software, tablets and smartphone. The company’s mission is to “Provide high quality product and up-to-date technology to users.
Fonne is a recent released smartphone that consists of many interesting features such as:
-Long lasting battery (20h)
-Variety range of colour (5 colours include Black, White, Gold, Silver, Red)
-Face and Fingerprint unlock
-Special camera’s function (ultra-wide angle, 4 different lenses)
-Back and front touch screen
-Bluetooth earphone and wireless charger and FonnePen (Free when purchase )
+Price: Between 400-500 AUD
+Place: Fonne is sold both in 10 different stores across Sydney and online (worldwide shipping)
-Sponsorships: to celebrities and social media influencers.
-Strong social media promotion.
-Ads in Games, YouTube video, on TV, Billboard etc.
The targeted market that we would like to sell our product to is young adults, who are in the age bracket of 18-28 years of age, living in Western Sydney. These individuals come from a low financial background. This group of young adults are extroverts, they have an outgoing lifestyle, they care about the environment and show interest in buying technologically advanced products. We understand for young individuals it can be challenging to chase ambitions without any sacrifice. Traveling and exploring the world can be expensive and take time. We have developed a phone with all the latest and greatest features at an affordable price. We target individuals who want to capitalise on an opportunity to save money for their holiday or adventures.
Internal factors (by me)
Personality and lifestyle:
As most young adults have a busy lifestyle and prefer to keep up with the trend, Fonne is a perfect fit for them. Compared to other smartphone brands, Fonne is affordable, convenient and trendy which is what most young adults are looking for.
Needs and motivation:
Technology is essential in modern society especially, smartphones. Almost everyone; adults and young adults own a smartphone to stay in contact and keep up to date. They are fast and easy to use and owning one gives the owner a sense of belonging, as if they fit into a certain group. That sense of belonging motivates people, especially young adults, to purchase certain things including smartphones.
Australia is one of the most culturally diverse countries sheltering citizens with ethnic backgrounds from around the globe. Culture refers to a complex concept which includes knowledge, beliefs, art, law, morals, customs, language, values, myths, rituals and symbols (Garlin & Webb 2014). Culture has so many factors that influence an individual’s decision making process. While culture is an external factor, it is interdependent with an individual’s values and principles. Culture often determines the norms of society and the appropriate behaviour that is accepted. Australians have the largest amount of household debt (Janda 2019) thus the Reserve bank research shows that households with higher debts tend to spend less. It is evident that Australians
This diversity plays a crucial aspect with consumers influencing their very nature to consume goods. While culture is an external factor, it is interdependent with consumers' values and principles. Culture derived from our heritage or ethnicity provides the very foundation of values. For instance, ethnic cultures from third world countries do not value certain luxuries like smartphones. On the contrary, West Sydney's social culture highlights the desire to keep up with social trends. Which is exactly why it plays an important role in our product. Here at Fonne, we believe the culture of our young adults located in Western Sydney will vastly drive up our sales.
Social stratification is the process “assigning members of society to different groups according to their social status” (Quester, Pettigrew & Hawkins 2011). Social stratification is relevant to further segment Australia’s large population to smaller groups. Individuals in these respective groups have similar lifestyles and behavioural choices that influence their consumption. Neal, Quester & Hawkins (2002) define a social class system as “a hierarchical division of a society into relatively distinct and homogenous groups with respect to attitudes, values and lifestyles”. In Australia, we have identified three main social classes; the working class, the middle class and the upper class. The most relevant to Fonne’s target market is the middle class; which comprises about 60% of Australia’s population (Garlin & Webb 2014). Allen (2017) mentions that the Australian Bureau of Statistics presents “average’ income from the basis of where you live. In essence, the housing you can afford is a strong depiction of your income. Fonne’s target market in Western Sydney is quite further from the coast and the city with significantly lower housing costs. Our target market consists of small business owners, salespeople, teachers and clerical workers. We understand that positioning of our product has to be appropriate for the middle class. Garlin & Webb (2017) suggests an upward pull strategy is the most effective as members of the middle class have strong appeal and desire to high social status. Fonne’s features represent that of a corporate business executive. The premium build quality, cutting edge camera technology, OLED display and the processor to allow for excessive multitasking capabilities; perfect for a business man on the go. Recent research suggests that this upward pull strategy has had strong implications on the middle class even aspiring the middle class to attain more wealth. According to Gladstone (2018), the middle class was shrinking as a result of the middle class continuing to increase their wealth. At Fonne, we understand that the middle class has a strong aspiration to increase their social class, so that they can be seen higher in the ranks. Hence why we believe social class is a strong factor to consider whether consumers will purchase our product. The middle class like to purchase goods that the upper class purchase as well as goods that are symbolic of the upper class. Our phone was specifically designed with high end features that gives the user a feeling of upper class standard.
Fonne is a smartphone that is designed, manufactured and sold by a company under the same name. The special functions and affordable prices are made specially to target young adults in the Western Sydney area. The internal influence factors provide information about their needs of keeping up with the trend, sense of belonging, personality and lifestyle. The external influence factor, on the other hand, talks about the diverse culture and financial position of young adults in Western Sydney and the social class. These factors combined have huge influences on their purchasing behavior.
Guo, F. and et.al., 2016. Applying event related potentials to evaluate user preferences toward smartphone form design. International Journal of Industrial Ergonomics. 54. pp.57-64.
Zahid, A. and Dastane, O., 2016. Factors affecting purchase intention of South East Asian (SEA) young adults towards global smartphone brands. ASEAN Marketing Journal. 8(1). Pp.66-84.
Garlin, F & Webb, K 2014, Consumer Behaviour, McGraw-Hill Education, North Ryde, viewed 14 May 2020, ProQuest Ebook Central https://ebookcentral.proquest.com/lib/wsudt/reader.action?docID=4770238 .