New Challenges For Marketers : A Dynamic Development Of The Economy

The requirement of meeting the sometimes uniquely specific requirements of customers has been causing Derrick’s management some serious headaches recently. They recognize the importance of a client-focused approach to marketing and distribution, but are beginning to feel that they are being exploited by some customers who are never satisfied with the level of service provided, however extensive it may be and this is costing them a lot of money.

In this section, I will break down the common consumer in attempt to understand what sways him/her into purchasing certain goods—especially those that “they do not need” In addition, I will discuss how consumers determine a certain product to be “worth it”

Understanding consumer buying behavior entails marketing, relationships, and consumer behavior. Consumer behavior comprises all the consumer decisions and activities connected with the choosing, buying, using and disposing of goods and services. Marketers must pay very close attention to consumer behavior that occurs before the purchase and after the particular product has been used. Studying consumer habits is one of the steps in marketing search and analysis. In addition to other basic principles of consumer buying habits, marketers also need to study the decision and actions of real people. Until recent history the study of consumer behavior was focused on generalized consumer decisions. With

As a market oriented organisation, we must start by asking-what is the nature of our customer? Such as:

Accommodation of the needs of potential customers is a sensitive and necessary issue in any form of business. Since Customer satisfaction and convenience plays a vital role in a business’ proliferation, the products and services should try to accommodate maximum number of customers.

A global market place has increased competitiveness across all consumer brands. The internet has created a system whereby consumers can easily comparison, shop, read peer reviews and access consumer reports at the click of the button. To effectively market to this new, highly informed consumer, an approach to marketing orientation must be flexible and must be4 quickly altered to meet the ever changing thought process and demands of today’s savvy customer. Companies that have developed an approach to this marketing approach but fail to update it as needed run the risk of alienating their

Once there is the decision to consume or purchase good s or services the common factor then becomes the need for that product which is at times evaluated based on attainability and price. In many situations if consumers are not motivated by the need to purchase then the possibility lies that they will not purchase. There may be different justifications that consumers internalize when making the decision to purchase a particular product at its given price. Different decisions supports the need to purchase a product such as

In theory, it is said that establishing customer needs or requirements are mainly the job of the marketing department of the company and these group also knows that requirements of customers may come from different aspects in the business. Like one of the aspect is that requirements may come from the attitude of the customer towards the

The management of organizations can often be improved through systematic attention to the “customer’s needs” that must be satisfied if the organization is to survive. There are two implications deriving from this statement:

Customers – the special requirement of the customer can be the new product of the market

Marketing's role is to match the capabilities and resources within the organisation with market opportunities external to the organisation. Understanding customer needs is central to achieving this aim, but marketers must also be aware of factors that can cause customer needs to evolve. A change in customer needs will impact upon the organisation's ability to serve its customers. This means that marketers have to be knowledgeable about what is happening in the external environment, or macro environment.

When a consumer wants to purchase a product, they perform a level of problem solving to determine which product and brand to purchase. A large factor in the problem solving is the consumer’s level of involvement with the product. The level of involvement depends on the consumer’s interest in the product, the cost of the product, how visible the product is to others, and the importance of the product. Level of involvement therefore affects the decision making process of the consumer, which is tern should affect brand positioning.

I am creating a detailed assignment In view of the dynamic nature of the marketing environment and to what extent are consumers considered to be, in practice, central to marketing activities? I am firstly going to go into depth about what marketing actually is then breaking that up into sections to investigate around the question asked, branching off to explain about what the dynamic environment is and what the four P’s represent, marketing and the consumer and finally to create a conclusion to the question. Andrew Cohen (President, The A team) said ‘’Marketing is meeting the needs and wants of a consumer.’’ There are many different definitions of marketing, most surrounding the same point, which is exactly what Cohen’s definition states-

First of all, the company analyses customers’ requirements because according to needs of customers, the

➢ The whole organization must recognise the fact that customer needs are of prime importance to them. This fact should be well-endorsed by the top management, individual employees and their supporting staff.