The Relationships Between Hierarchy of Needs by Maslow and Marketing - Assignment Example

MID-TERM EXAM Part 1) B. dedication and control 2) D. brand personality 3) A. Spontaneous 4) A. communicates what people normally do 5) A. compliance 6) C. touch 7) C. one-sided 8) D. consumer-generated content 9) C. building bonds between brands and customers that will last forever 10) B. the self we imagine others see when reacting to us 11) A. perceptual selectivity 12) C. reverse communication 13) C. The process is the same no matter what the product or the ad 14) D. positioning 15) C. credibility 16) C. sensation 17) A. Lifestyle 18) D. purchase conception 19) A. the holistic processing principle 20) A. left hemisphere of the brain 21) B. sentiment analysis 22) D. visual orientation 23) B. drive theory 24) D. conditioning 25) A. knowledge of past advertising campaigns 26) A. situation-actualization theory 27) B. willed disinterest 28) D. multi-attribute attitude model 29) C. expectancy theory 30) A. observational learning 31) A. extremism 32) C. type of message 33) B. affect, behaviour, cognition 34) D. consumers develop knowledge about persuasion and use this knowledge to cope with persuasive attempts 35) B. body image 36) B. materialism 37) B. having the marketer’s products present in their evoked list 38) C. not all consumer behaviour or marketing activity is necessarily beneficial to society 39) B. marketing segmentation 40) C. product line extensions PART 2 41. Maslow’s hierarchy of needs states that in a human being’s life time, the person goes through five levels of needs. Each of these levels is different from each other. The first level is level of physiological needs. These are basic needs that a man needs such as, food, water, shelter. The very basic needs for survival are the physiological needs. Once these needs have been met, the person moves on to the next level of need which is the level of safety and security needs. In this level the person develops a sense of fear and he feels the need for safety and security. This can be anything, a stable income or job, etc. The next level of needs which is requirement by the person is the need of love and society. The sense of belongingness is his concern at this stage. He or she starts a family and wants to become a part of the society. The next step in the level of needs is the requirement of self esteem. The person wishes to have a successful carrier and wants to be known for his success. He or she thinks himself or herself to be special. Once the self esteem stage has been achieved, the person goes on to the final level of needs known as the self-actualization. This need is way more important than anything; the aspirations come into play over here. Now having discussed the Maslow’s Hierarchy, let us go on to relating these 5 levels of needs with marketing. As the person goes through the different level of needs, he is always influenced by the some products or services at some point of time. In the first step where the person is looking for the basic needs such as food and shelter, he or she will try to select a food is cheap at the same time nutritious, the advertisement displayed or shown will play a major role in his choice. Similarly, in the second stage the person is looking for security and safety. The security can job or life insurance. Again in this situation, the various firms will try to divert his or her mind to purchase their product or services by saying how different and exclusive their services are. This way the person may or may not get manipulated in purchasing the above services. Again in the next three stages also there are various forms of marketing involved which are used against the consumers. For example Vodafone might call a person saying that he or she is their most valued customer and that is he or she is being offered a new mobile connection free of charge. This in return tends to affect the person emotionally and the person will most likely go ahead with the deal. Another example that can be taken is a person can be manipulated into buying a costlier car by saying that this particular car suits his or her personality. So these are very easy ways in which a consumer can be manipulated and marketed with the help of Maslow’s Hierarchy theory. 42. The three forms of social media have been discussed below: a) Social Networks – This is the first and the very popular types of social media as we know. The famous names would Facebook, Orkut. In this type of social media, users various places connect with each other over may a particular topic or an issue or they can just be old friends and form a community for them by sharing photographs etc. Over here company’s also register themselves and showcase their products to the world by giving detailed knowledge about the product. b) Social News – this type of social media has recently become popular and it is social forum which has arguments and discussions related to a particular topic. It allows users to post various news and the others and vote for it or against it. Over here marketing is different yet it is prevalent. As discussed above, in this case the company can ask its viewers about a particular product whether they are ready to accept it or not. The feedback can be helpful for the company in future decision making. c) Micro-blogging - We are all aware of the famous website Twitter. Twitter is what we call micro-blogging. In this scenario, the registered use can select his or her interest and based on the interest or the channels selected, he or she will be receiving the updates and the person can respond to it as per his or her wish. A person can also post his own viewpoint and let other start a discussion on it. In kind of micro-blogging not much of advertising is possible except of the case when the client himself or herself goes on to discuss about a product or a service. 45. In consumer behavior, there are three stages in the consumption process. We will be discussing in detail the three stages of consumption process below: Pre-purchase issues – This is the first and the most crucial stage in the consumption process. In this stage the consumer in the decision making process. He or she decides on what he or she will be purchasing based on the feedback and reviews from their friends, internet or from the shops. The consumer tries to wave the dilemmas that have been bothering them as to which product or service is the right choice for them. The pre-purchase behavior plays a very important role for the consumer and the marketer. The consumer, in this process looks into all the factors that enable him or her to take the final decisions. The marketers on the other hand try to analysis this behavior of the consumer because this will help in understand the choice and preference of their consumers and they would able to deliver better products to their customers. Purchase Issues – This is the second step in the consumption process. Over her the customer or the end consumer has finally made up their mind and made the purchase. During this process the consumer is trying to get the best possible deal along with the services for the product. The consumer is also particular about the details of the product purchase such as the warranty the availability of services, etc. Post Purchase issues – This is the third and the final step in the consumption process. This part also plays a major role in the consumption process. The post purchase issues mainly deal with the customer’s feedback about the product. The consumer after purchasing the product or the service realizes the benefits or the backlogs in the product. A happy consumer with always become a loyal customer in the future but if the consumer faces problems after the purchase, then he or she will not only stop using the product but also spread the negative attributes about it which in return will affect the market of the product or the services. The marketers need to make sure that the consumer is happy after purchasing the product or the services. Frequent feedback and friendly advices can help in creating the good relation with the consumer and in return get a loyal and a long term consumer. 46. Advertising now a day has become less effective because of clutter. This makes the advertisements ineffective and a loss for the company or the brand. Before we go into to commenting on this topic, let us first understand the term advertising clutter. What is an advertising clutter? Firstly, let us become clear about an advertisement. A visual media used to market a product or a service is known as an advertisement. Whenever we watch the television, we are bombed with ads in each and every interval. The increasing number of advertisement in a stipulated time is known as advertising clutter. Instead of two advertisements in a given time we come across innumerable advertisements. This increases the ineffectiveness. An advertisement is only effectively when it is remembered by the consumers. Without that the ad is meaningless. When we see many ads, we get irritated which compels us to rejects the advertisements. This is how the advertisements become ineffective. This is also the case with online advertisements. So, now the important question which arises is how to reduce the clutter and make the advertisements effective for a firm. Some of the analysts are of the view is to make the advertisements more creative in order to stay away from the clutter. It is effective to certain extent but it is not the ultimate solution. In case of online, the suggestion given is to find out websites which have not yet been affected by the advertisement clutter and still new in this field. These websites can be targeted to display the ads. But there still remains about the viewership of the ads. A new website would mean comparatively less viewers. So the problem still is not solved completely. One solution that can be offered in this situation is to come to a mutual understanding between the companies that during a particular interval only 2 to 3 advertisements will be displayed to the consumer. In the next round some other three firms can put their commercials for display. In this way the clutter can be reduced and an understanding can be maintained between the firms. A survey should be organized by the firms to understand the effectiveness of the advertisements and how much advertisements are accepted by the viewers. Instead of displaying one ad for every cycle, the firms can spend a little more and come up with a big advertisement which is creative and spread s the message. This advertisement can be displayed once a day to reduce the clutter and to also make it interesting for the viewers. Taking these steps by the companies can help reduce the advertisement clutter and make them more effective for the viewers. 48. As the world is constantly facing the adverse effects of global warming, people, companies and the consumer are increasingly becoming conscious of staying in a nature friendly society. So the companies are also gradually shifting from the traditional marketing approach to a more nature friendly approach. The whole concept is known as Green marketing. This includes various aspects of marketing. Recently we have seen, how firms are concentrating on their corporate social responsibility approach, this is one way of making a statement that they are trying to be socially active rather than just trying to concentrate on the profits. Green marketing is also called eco-marketing. Companies are also trying to make an effort in manufacturing products that are less harmful to the nature. Companies like Toyota have already come up with vehicles which run on electricity and save of fuels. Similarly appliances are now a day’s becoming less harmful by removing the concept of CFC, which was considered very harmful for the nature. We also need to understand another important concept behind green marketing. Green marketing is essentially a positive approach towards marketing an environment friendly product or a service. It does not focus into maximizing the profits for a product but solely to have an eco-friendly approach to marketing. The concept of social marketing was first brought into discussion by the famous marketing genius Philip Kotler. Social marketing is borrowed from the commercial marketing but the approach is to change the minds of the audience and bring a greater good to the society. IT should not be confused with social network marketing. Though social network can be used effectively to do social marketing and spread a message to the target audience. Social marketing is use to sell an idea or a thought to the audience rather than selling a product or a service. One famous example of social marketing is that Nike. Nike used instagram (an imaging application) to effectively market their sneakers with the help of social marketing .What they did was they invited users to send is their instagram snapshots and they had an application that could be used to design their own sneakers based on the colors used in the instagram photo. The Nike application would finally generate a pair of sneakers which could then be purchased by the use or they could simply share it with their friends. This is an example of effective social marketing. FINAL EXAM 1. A) Habitual 2. B) The focus on long-term changes in the family priorities helps to predict demand for specific product categories over time. 3. A. cohesiveness 4. A. Cross-cultural 5. A. Recycling instincts 6. C. adolescent 7. B. regional segmentation 8. C. Advergaming 9. A. It implies that much of marketing communications would be wasted effort 10. C. Cultivation hypothesis 11. A. experienced adaptation 12. A. People of same age share the same genetic traits 13. C. Norms 14. B. etic perspective 15. A. rational persecptive 16. D. Conspicuous waste 17. C. functional 18. B. British and French 19. D. Freud 20. B. increase the value added 21. C. preference rule 22. D. co-situational influencers 23. B. Polychromic activity 24. B. cognitive dissonance 25. D. social class 26. A. product selector 27. A. tends to be more powerful than information received on formal presentation channels 28. B. geography 29. D. continuous innovation 30. C. information search 31. B. ads that show sensitive, spiritual, and introspective models 32. A. Media multiplexity 33. C. whether the risk is public or private 34. C. perception 35. A. generation Y and generation X 36. C. sight 37. D. reciprocity 38. A. associate 39. A. compatibility 40. B. safety needs 41. C. reciprocity norm 42. A. her culture is accepting of social inequalities 43. B. the money available to a household after tax 44. C. consists of mother, father and one or more children 45. B. the “wonder years” effect 46. B. the preference that Sam holds for Chinese food over Mexican food 47. C. values and lifestyles 48. A. intrinsic attribute 49. D. the consumption process 50. D. makes choices that allow them to present a positive view of the self to others. 51. Define and discuss perception. How does it affect consumer behavior? Give an example. Perception can be defined as a concept of marketing that encircles a customers’ awareness, cognizance, impression or alertness about the company and its product or service. Perception of customer influenced by watching televisions commercials, news paper’ articles, personal experience, social media and many other things. The instant reactions of consumers, that derives in their mind about the company and its product or services via watching television advertisement or personal experience. The perception of consumers helps the company to understand the buying pattern of buyers. The perception methodology aids the companies to develop marketing strategy and advertising strategy to target their customers. Through which companies are able to retain their old customers and engage new one. There are three types of perception methodologies that should be followed by the companies to fulfill their marketing objectives. According to the perception of consumers the companies will able to understand about the buying pattern and target specific customers related to the company requirement and its products or services. Self Perception: All individuals have own state of thinking towards any article and behind of this motivation factors of individuals is hidden. Self perception explains how an individual or group originates understanding or knowledge about the company and its product or service. It is related with motivation and values of customer before or during purchasing of goods. The persons can be motivated positive or negative towards an article, which lead him or her to buy the product or not. The self perception theory influence the customer on their buying decision and it is very effective and efficient during purchasing of goods. Price Perception: Price of product or service is also influenced a persons and affect on the perception of customers. In many cases it has been seen, if a price of product is high then customers thinks that the product must be good and its quality or features will be good as compared with other brand of product and vice versa. Even though, high price of product it aids the company to enhance their brand value which influence the customers lots on their buying decision. However, price factor is equally influenced by the income of person, since every individual have different level of income and affect on their buying decision. Benefit Perception: In this theory, the customer checks whether the company and its product or service will give benefits or not. Before, during or after purchasing of goods the customers able to know about the benefits and whether it is useful for him or her not. E.g. if a person is going to buy an iPhone, then he or she will first checks the features of the phone according his or her need and the features are meeting his or her desire or not. It is vital factor that every customers follow and it affect on their perception. 52. What are consumer expectations? Describe the importance of expectations both for when consumers make purchase decisions and after they have consumed their purchase. Consumer expectations can be defined as the requirement of consumer from the products or services are fulfilling or not while before and after purchasing of goods. In this consumer follows some basics decisions while purchasing goods like the benefits, price, need or purpose of goods. Even though, how these things meet with the desired expectation of consumers after using the products or services. It seems many times that, when a consumer buy a product and after using it their expectation is not fulfilled due to cost factor, quality of product or even unnecessary need of the product. These all factors influence the expectation of consumers. It is very important for the consumer to fulfill their expectation while purchasing the products or services. So the purchasing decisions plays vital role to fulfill the consumer expectations. It is a decision making process while customers before, during or after buying goods. This process contains 5 stages, which are following: Need Recognition: It is a first stage of purchase decision process. In this customers or consumers require to recognize the need of products or service. The customers have to check whether this products or services are essential to them or will satisfy them. Information Search: In this stage, the customers gather the knowledge about the product or service that they want or need which would satisfy them. Alternative: In this stage, the customers seek for the alternative of the product or service with other brands or different alternative products. In this the customers can compare the products or services according to their needs and wants or in terms of price, quality and features of products. Purchase: After evaluating about the product or service according to the needs and wants of customers then customer make a mind to purchase the product or service which would be suitable for the customer. It might be in aspect of price, quality or features of the product or service. Post Purchase Behavior: After purchasing the product or service and using it, the costumer might have dissonance with it. At that time customers or consumer may feel that the product or service is not useful or other product might be better than current one. It also leads the customers to buy new product or service. 55. What is a reference group? What are the three ways that reference groups can influence consumers? Provide an example for each of these three forms of influence. Reference Group can be defined as where an individual or group can be compared with another individual or group. In this an individual or group is compared with another individual or group in respect of characteristics and other attributes. Here, the consumer’s compared with himself or herself with other individuals in their buying behavior. Qualities, circumstances and values & behaviors, influence the consumers on their buying decisions. For example, Quality: In this consumer compare himself or herself with other person in aspect of quality of products or services. E.g. If a person A is willing to buy a new phone then he will compare the quality of mobile phone with person B like features and extra services of phone so that person A phone should be much better than person B. Circumstance: Customer even compares them self with other in aspect of circumstance. E.g. If a person A has expensive car and person B is willing to buy a new car, at that time the customer compare himself with person A in respect of economy power. Values & Behaviors: Every customer has different values and behaviors. It also influenced them on their buying pattern. For example, if a person is going to buy any new product at that time he or she will compare his or her product with the culture and values with different class of society and individual. 56. Whose responsibility is it to ensure that children are not negatively affected by television commercials? Why is this important issue? There are lots of commercial advertisements which are shown in televisions and ads might be good and bad in contains. This ads might influence children if the contains of ads is negative. It leads bad impact on the behavior of children after observing these kinds of ads. However, the influence of television gives bad impacts on children and it should be regulated or monitored by parents while children are watching televisions. So the children could not be influenced by the commercials ads. Even though, it is not possible for parents to stop their children to watch negative contains ads like alcohol and other negative influential ads. So it should be controlled by the Broadcast Department or Censor Boards of Advertisement. The Censor Board of Advertisement checks contains of ads which could give negative impact to the children. They categories contain ads by giving rating like U or U/A which should be watched by the children. U and U/A ratings ads preferred for children, which does not contains bad impact. So, the parents can distinguish which commercials should be shown to their children. Now a day it is very important to monitor commercials which could have negative impact on children. Since, the completion in market is increased and companies are targeting their customer by releasing aggressive commercials to engage old and new buyers. This thing is usually done by most companies to enhance their sales. Due to this, most commercials are aggressive and contains bad influential which impact on children. So to control negative commercials there should be Censor Board. The function of Censor Boards is to regulate the commercial which could have negative impact on customers and children. 58. Is the study of consumer behavior important to modern business? Why or why not? Use information obtained from this course and textbook to justify your answer. The buying pattern of consumers is different from each person to another. To understand the buying pattern of consumers for specific product or service, its being necessary for the companies to understand it and to fulfill their marketing objectives via marketing strategy or advertising strategy. The companies now have to understand the behavior of consumer to deliver their product or service in to market, so the customer will attract to it. Since every nation’ population have different culture and thoughts. To target specific market or customer, the companies need to understand or gather knowledge of behavior of population of that particular market. It aids the company to develop their brand in to the market and enhance their sales. It also aids the companies to retain their old customers and engage more new customers from that particular market. It being necessary since, current market evolving and there are high competition among the companies to snatching more customers towards them. Even more, the customers are getting smarter and intelligent than past. Now customers have more knowledge about the companies and its product and services. They are very smarter and before purchasing goods they compare their product with alternatives one in aspect of price, quality and others features of the goods. So the customer could choose better product or service for them. Now a day customers do not want to compromise with quality and quantity of product or service. The customers now believe in optimum use of product or service till the end. Hence, there are many laws are developed by the governments of all nation to protect the customers from fraud product and services and there are many consumers are also opened. Now customers can lodge a case against forgery activities of companies related to bad articles in terms of promises that made by the companies during their marketing activities. It has been seen that many companies have done forgery and played with emotion of customers by selling them bad quality of product or service. After sales service or price of goods, the many companies have cheated their customers. So the customers are very possessive during the purchasing of goods and this thing affected lot in the customers buying pattern. Therefore all companies are to need understand the buying pattern of customers to satisfy them. Through this companies can enhance their sales more and able increase their brand value in to the market. 59. What is meant by the term culture? In what way are myths and ritual associated with culture? How are all these ideas relevant to marketing? It can be specified as a belief of individuals or groups to their society, values, traditions and customs, which assist to do a work in a right track. It facilitates them to choose the right thing at the proper time so that a good image will be held in front of company. It determines a lot in buying decision of buyers. Before purchasing a product or service, the purchaser has to think about his/her culture so that it does not give bad impact to other member of society. It qualifies the buyers to buy a product or serve in his/her choices. Cultural factor has great influence on buying decision of the consumer. All human beings are bound with their civilizations and it plays a vital role to buy a merchandise or service. The order, tradition, values are linked with the refinement of human begins. When a buyer goes for buying a product or service, they sustain to conform to their culture. Since, it interprets the behavior of buyers and it gives an impact on society. Even though, our fellowship is likewise separated into many divisions, like upper class, middle division and lower class, and they totally own different spot of view during purchasing and consuming of product or service. Every culture has subcultures, which as well restrict the buyer and influenced in buying decision. It includes nationalities, racial groups and religions of the same geographical area. It creates sub segmentation for marketing managers to target the market. They cause to deal the market according each need of division. Every culture is related with myth and rituals. For example, in Islamic culture consumption of alcohol is prohibited, so Muslims are restricted to buying alcohol contains products. In Hindu culture, wearing or using of leather made articles are restricted, which stops many Hindus to buy this type of articles which are against of their myths and rituals. Hence, in Hindus culture the cow is belonging to second face of god and worship cows. Every nations have own ritual and myth and even their society which restricts people to buy. Many buyers follow their rituals and myth to impress and being part of their society. These things affect lots on the buying pattern of consumers. Even though, many consumers think that if they buy against of their culture then it will be a sin and the society will discontinue them. It might have negative or positive influence on the buying pattern of customers. Since these are related to ritual and myths of cultures. So the myths and rituals have lots of influence on buying decision of buyers and restrict them to buy particular articles which are prohibited in their culture. Many customers follow this pattern during their purchasing. This idea is more affecting in marketing, since every individual are following their culture and ethics on buying any product or good. So the companies are changed their strategy of marketing and which play effective role to attract customers. Now a day, companies are developing such products and strategies which influence the customers thru their culture. For example, egg mark over the packet of the food product, if a customer is vegetarian and during his or her purchasing any food product he or she will first check the egg mark on the product. After that a customer will buy the item according to egg mark. Since, the customer has to follow their culture and thinks about his or her society. This factor influence lot on buying pattern of customer. So the companies are now working more efficiently and effectively to develop new customer and retaining old one. Read More