a) Factors affecting the buying behavior of Kenyan youth:
1) Price: Kenyan youth are often budget-conscious and value-conscious. They consider the price of a product or service before making a purchase decision. They tend to choose products that offer good value for their money.
2) Brand image: The brand image of a product or service plays a significant role in influencing the buying behavior of Kenyan youth. They are attracted to brands that are trendy, fashionable, and aligned with their personal style and preferences.
3) Social media influence: Kenyan youth are highly influenced by social media platforms like Instagram, Facebook, and YouTube. They often seek recommendations and reviews from influencers or their peers before making a buying decision.
4) Convenience: Convenience is a crucial factor for Kenyan youth. They value products and services that are easily accessible and can be obtained quickly. Online shopping platforms and delivery services are popular among them.
5) Quality and durability: Although price is important, Kenyan youth also value the quality and durability of products. They look for products that are reliable, long-lasting, and offer good performance.
b) Market positioning refers to the process of establishing a clear and distinctive place for a product or brand in the target market's mind. It involves creating a unique perception of the product or brand in relation to competing products in the market.
Types of market positioning:
1) Product-based positioning: This type of positioning focuses on the unique features or attributes of a product. It highlights how the product is different or superior to others in terms of quality, performance, or functionality. For example, a smartphone brand positioning itself as having the best camera quality in the market.
2) Price-based positioning: Price-based positioning refers to positioning a product as the most affordable or offering the best value for the price. This strategy targets price-sensitive consumers who prioritize cost savings. For example, a brand positioning itself as offering the lowest price in the market.
3) Benefit-based positioning: Benefit-based positioning involves highlighting the specific benefits or advantages that a product provides to the target customers. It focuses on how the product can meet the needs or solve the problems of consumers. For example, a skincare brand positioning its product as providing effective solutions for acne-prone skin.
4) Competitive-based positioning: Competitive-based positioning involves comparing and positioning a product against a direct competitor. It aims to position the product as superior or different from the competitor's offering. This strategy is commonly used in industries where competition is intense. For example, a cola brand positioning itself as having a better taste than its main competitor.
Each of these types of market positioning aims to create a unique image, perception, and value proposition for the product or brand in the target market, ultimately influencing consumer buying behavior.
20 Points
a) The greater proportion of the Kenyan population today is the youth. Citing a product/service of your choice elaborate on five key factors that affect their buying behaviour. (10 Marks)
b) Define market positioning and explain any 4 types of market positioning. (10 Marks)
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