Concepts And Principles Of Marketing And Consumer Psychology Essay

Consumer behavior is an elaborate part of marketing, without it marketing would not be entirety. The human conduct is perplexing, loaded with discussions and inconsistencies, does not shock anyone to marketing academicians and in addition practioners, consumer behavior is no special case, against the background of far reaching acknowledgement of consumer behavior just like the way to contemporary marketing success (Demirdjian & Mokatsian, 2014). Some consumer behaviors are profoundly established, for example, outside habitations, for example shopper’s way of life, home life, demographics, and economic wellbeing. Other inside elements, for example, feelings, demeanors, observations, recollections, and learning are pliable characteristics that have the ability to influence in another direction. Inspiration, observation, learning, convictions, states of mind, and so on all have been utilized as part of clarifying why the consumer behaves on the way he or she does, ideas, for example, social observations, social impact, social prizes, companion weight, expressive gestures, social approvals, and so forth all shed light on the puzzles of consumer behavior (Demirdjian & Mokatsian, 2014).

3. The policy should be changed and this impact AAA to acquire more Wholesalers and grow their profit margin by allowing the label.

Understanding consumer behaviour is essential to succeed in business. As Solomon et al. (2013) stresses, businesses exist to satisfy consumer’s needs. By identifying and understanding the factors that influences their customers, firms have the opportunity to develop a more efficient strategy, marketing message and advertising campaigns that is more in line with the needs and ways of thinking of their target consumers (Perreau, 2015).

The world continues to develop as technological developments overpower consumers every day. Compared to twenty years ago, consumers now surf the internet, watch television on demand and use mobile phones to view a variety of marketing content instantly. With this in mind, in a consumer behaviour context marketers are in a position to cater to the needs of the consumers’ and can target the consumers’ needs through the use of technology. More so, a consumer is exposed to many facets even when sometimes they are unaware of this. Technology affects the way consumers make decisions because there are many choices exposed to them. Certain consumers may have different psychographic, geographic and demographic behaviours. Marketers cannot make one product or service and cater to all of their needs.

Currently the inflation rate is stable at three percent or less per year, and the consumer price index is steady with approximately 1.5-2 percent change per year.   A stable economy without significant inflation will likely maintain the strong spending power of the consumer. The consumer’s dollar will be stretched further allowing them to purchase more goods. Low inflation rates will also persuade the Federal Reserve Board to keep rates low allowing free economic growth as rates increase.

The type of goods and services demanded by consumers is a function of their social conditioning and their consequent attitudes and beliefs. Consumers are becoming more and more aware of health issues, and their attitudes towards food are constantly changing. One example of Tesco adapting its product mix is to accommodate an increased demand for organic products. The company was also the first to allow customers to pay in cheques and cash at the checkout.

As a marketing professional, entrepreneur and teacher, I want to inspire students to master a broad range of marketing concepts. I want to demonstrate how marketing is used to sell products and services, persuade individuals and companies to change their behavior and to potentially change the world.

Well, they say that the customer is the king! All the efforts in the modern day marketing are directed towards one area – and that is customer satisfaction. Marketers today use a lot of strategies to make the consumer purchase their brand over various other competitors. But what is it exactly that happens inside the head of the ‘king’ that the marketers are always so interested in? What process does a consumer follow towards making a purchase that reduces the level of his cognitive dissonance? Let’s have a look.

In this paper, I have researched to find out how this grant empire has become and remain so successful. I found out that one of the reasons is because it has been able to maintain the goals and standards that its owner, Mr. Sam Walton has built it upon. Even after his death, Wal-Mart continues to expand and grow in other countries. Wal-Mart is considered one of the top ten global companies today. Mr. Walton’s main goal was to sell products at a low price so that people could live a better life. Another reason is because Wal-Mart uses certain market mix strategies such as the four P”. These strategies, price, promotion, product and place.

This report will explore two different organisations and how consumers react to their two marketing communication e.g. M&S’s TV advertising and Primark’s main website. The reasons for choosing these organisations is because they are well-known brands with different key target demographics. Pricing for their products are generally at opposite ends of the scale and both organisations use unique styles for advertising. Furthermore, it will understand both organisation’s psychological approaches to its customers. This is important because it can help businesses gain an understanding of how consumers value their products and how to further increase this in the future. (Butler, 2013). The key message the M&S and Primark advertisers wish to communicate is that both organisations will provide everything consumers need for the perfect Christmas(Schiffman, 2004).

* Understanding consumer behaviour allows us to engage more effectively with our target market and increase sales

explain the role of advertising agencies and the media in the development of a successful promotional campaign

A Marketing case study on Cadbury’s new advertising campaign for the Crispy Crunch chocolate bar.

When looking to add a new product to the market, traditionally five steps occur in marketing research and lead to marketing actions. Of these five steps, step number three covers the collection of marketing data. Marketing data can be collected through either primary research or secondary research. The goal of this assignment is to describe both primary and secondary research, provide examples of each and determine how the author’s organization could benefit from each. The author will begin with a description of primary marketing research.

The Marketing Concept The marketing concept has evolved over the last years, marketing reflects to a key approach to doing business. An organisations objective is to make profit, to do this they have to consider the marketing concept, in order to satisfy customers. For an organisation to be successful should divert its attention away from particular products and towards the interest of the customers. Customers changing their needs and wants influence an organisations strategies and plans. Meeting customer’s needs is the main key in marketing.