¶ … marketing industry introduces people to the belief that they need to acquire a specific product because of this or that benefit. As a result of the marketing campaign, people may start developing a feeling of want, allowing themselves to be convinced that the product in question is imperious for their well being. It is through these strategic techniques that people's perceptions are influenced. And it is because of such strategies that, more than in one occasion, people end up purchasing products they don't really need. However, in certain circumstances, it just so happens that an advertisement meets people's needs and, as a result, the circumstances have created relevant opportunities. In this essay, the key words are need, want, and opportunities which we will be addressing in terms of concepts and strategies. We will provide specific examples to substantiate our research. Consumer behavior is dependent of a multitude of factors that, whether we know it or not, influences our perception over things. Of course, financial possibilities may be the most relevant aspect in either purchasing or refusing to buy a product. However, personal attitude and values, social and cultural backgrounds are also an influence on consumer behavior and, what's most important is that they may work on a subconscious level more than consciously. For the marketing industry to be able to come up with opportunities that meet people's actual needs, it is important that these needs are assessed properly. But marketing usually addresses consumer's behavior which is further influenced by its strategies. That is to say that a study on actual needs may be more of a study on what people want which provide the marketing industry with the right instruments to create purchasing possibilities. To further illustrate this idea, let's take a specific case of advertisement. Assuming there is a need to promote a new perfume, the marketing industry is more likely to choose a famous person to advertise it. The consumer then is influenced by the presence of the famous figure to purchase the perfume even though it isn't a case of actual need....
And, in this respect, we will assume that the consumer is already in the possession of a number of similar products. What's more, let's say the famous figure is someone who is also seen as a respectable individual by the mass media. The consumer also has assimilated the perception and, given the trust and respect he assumes the famous figure holds he is more so encouraged by his personal beliefs and perceptions to buy the product. And, as such, this turns into a case of want rather than need. On the other hand, assuming the consumer has recently run out of perfume, and the advertisement is released around this time, it turns into a case of need and subsequently, opportunity. That is to say that the opportunity has presented itself for the consumer to fulfill his or hers needs.
Marketing in the Banking Industry Prescott Valley, Arizona Abridged Literature Review Reflective Annotated Bibliography While there are many industries in the world that are growing at a rapid pace, one of them is exceedingly doing well. This is because it relies upon the monies and funds of its customers and greatly influences the other industries as well. This is the banking industry. Although a common part of every consumer's life, the banking industry has been
Marketing: Marketing Research: Samsung Galaxy Mini S Samsung Group has grown to be a world leader in technology. The company now wants to market a Galaxy Mini S, a tablet combining state-of-the-art computer and smart phone features. In order to effectively market the product, Samsung's marketers will need to obtain, analyze and use as much external and internal information as possible. Using multiple processes, marketers can formulate highly effective marketing objectives
Place Starbucks can be left without profits if it markets its products in the wrong locations. Place is the sites at which the company avails its products. This includes channels of distribution from the distribution point to the end customer. Starbucks attempts to minimize the distance customers have to move to the point where the product is sold. This is followed by targeting the appropriate target market before making decisions on
Marketing Plan Company description Royal line clothing was founded five years ago by tow Entrepreneurs, Nick Neumann and peter Jefferson. Nick is a holder of an undergraduate degree in marketing and has worked for a long period in the retail clothing industry. Jefferson on the other hand owned an adventure business but ended up selling this business to a person they were partnering with. Jefferson and Nick have been good friends from
Marketing SLP Target Market Brand Image Competitor Analysis Environmental Analysis Porters Five Force Model Current Rivalry Threat of New Entrants Bargaining Power of Suppliers Bargaining Power of Buyers Threat of Substitute Products Apple has had an exceptional growth streak over the last decade and represents a suitable target for a marketing analysis. Apple has seen sales and revenue peeks in the last few years which is at least due to the fact that sales in China have ballooned. China, which is
Partial cost recovery. This is an objective that might have interest for an organization that has other revenue sources. Maximize quantity. The objective seeks to maximize the quantity of products/services sold or the number of customers in order to reduce costs in the long-term as predicted by the learning curve, also known as the experience curve. Quality leadership. Use price as a tool to designate high quality and position the product as
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now