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Target Audience & Competition - Essay Example

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Introduction to the Marketing Concept There are basically five major concepts that the business operates in. These concepts are named as the product concept, production concept, selling concept, marketing concept and also the holistic marketing concept (Kotler, 2003)…
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Target Audience & Competition

Download file to see previous pages... Maslow’s Theory of Needs and its Application to Marketing In case where an individual worker like for example needs more money for meeting his needs it is obvious that he needs to work harder for doing so. According to Maslow there are physiological, safety and security, social, esteem and self-actualization needs that happen to be really important (Adair, 1996). By putting in the hard work the individual can try to meet his need and later can also put in the necessary effort and time to win the desired reward. Here we can also use the Expectancy theory where an individual worker puts in efforts to adjust his personal motivational levels to that of her or his colleagues. Maslow's hierarchy of needs identify five basic areas of needs that most humans experience. First is the physiological or the basic life survival needs then comes the safety and security need after that is the social need that includes belongingness and love after which comes the self-esteem and the fifth need is the self-actualization. Maslow found out that a person moves form one need to another after he has met a need. Like if he meets the needs at level one, then he moves toward the next, and then the next and so on. Maslow found out that decision making and human behaviour are motivated by one of any five need levels in the hierarchy model he presented. If we apply these needs to the marketing theory it will not be wrong to say that the marketers by effectively appealing to one of the motivational drivers can be really successful. The social and self esteem needs can be fulfilled by the marketers by using strong marketing campaigns and building a strong brand image. People are in search of recognition so if marketers fulfil this need they can always make good profit out of their businesses. Maslow's fundamental principles link marketing and human psychology. It is important for the marketer to find out the level of need which the customer is looking to meet, and then market the product in a way that convinces him that he particular need will be fulfilled like that. Performing periodic evaluations of the marketing techniques as the target audience are not likely to stay static is very important. It is very important for the marketers to be aware of the place where Maslow's hierarchy of needs of the customer base is and the place where the product fits in. By paying more attention to this marketing can be more effective. Stages of the Consumer Behaviour Model and its Application to Marketing Researchers have proven that that motivation factors play a significant role in stages of purchasing process and possess positive influence on the internal factors that is the information search, alternatives evaluation, and post purchasing and purchasing. All these internal factors can have an impact on each other in positive direction and are strongly correlated. Consumer happens to be one of the very significant and complicated units of the marketing system. As many external and internal factors impact consumer behaviour within this system, the measuring and evaluating of purchasing process proves to be comparatively difficult. Consumer behaviour is not as straightforward as the purchasing of a service or product by paying its price but at the same time it is a procedure that has post-purchasing dimensions. Understanding of the consumer behaviour in all the stage of consumer behaviour model that consist of recognising the problem, searching the information, evaluating the alternatives, purchasing and also ...Download file to see next pagesRead More
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