What is marketing in terms of meeting the consumer 's needs and wants? “Marketing is the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization” (Kerin, Hartley, & Rudelius, 2011, p. 6 ). Understanding the importance of the determining factors is beneficial for the marketing team. They consist of marketing strategies that satisfy the needs and wants of consumers. Economic theories suggest that needs are satisfying for a period of time; however, wants will always be an unsatisfying component to the consumer (“Economic Needs,” 2016). Extensive research is crucial to the marketing team for analysis in determining the needs of consumers in this diverse culture. “A need is a consumer 's desire for a products or services specific benefit, whether that be functional or emotional” (Boundless, 2015, para. 2). Functional needs are considered the most basic needs which include food, water, clothing, air, and shelter. Furthermore, emotional needs are important because this provides stability of the mental health. They express basic feelings such as security, love, control, and purpose. It is vital for individuals to have needs met functionally, as well as, emotionally to sustain survival in a positive manner. …show more content…
In today 's world of technology, we are bombarded with marketing techniques continuously. Food, water, clothing, and shelter are all basic needs. Marketing has helped push decision making toward specific products. These brands may be the ones that we see on television daily. We often are not satisfied with what we have. Even though our basic needs are met, we want more. Marketing often pushes this attitude. We all need clothing. Unfortunately in today 's society certain types of clothing are not attainable to all people. This fact may be due to income level or other availability factors or
People are often deceived by some famous brands, which they will buy as useless commodities to feel they are distinctive. People require brands to experience the feeling of being special. People spend their money to have something from famous brands, like a bag from Coach or Louis Vuitton which they think they need, yet all that is just people’s wants. Steve McKevitt claims that people give more thought on features or brands when they need to buy a product, “It might even be the case that you do need a phone to carry out your work and a car to get around in, but what brand it is and, to a large extent, what features it has are really just want” (McKevitt, 145), which that means people care about brands more than their needs. Having shoes from Louis Vuitton or shoes that cost $30 it is designed for the same use.
From the moment a consumer engages in a transaction, emotions are used to determine purchase choices and satisfaction. The way an advertisement makes an individual feel, or the display in a store, provokes an emotion to promote the consumer to purchase that item or service. However, emotions are not limited to the initial transaction. After the transaction is completed, emotions determine the levels of satisfaction a consumer has towards an item or service. If the emotional benefit is equal to the expected results, the consumer will be satisfied, however, if the product or service does not hold to its expected standards, the consumer will not be satisfied and may discontinue doing business with the organization. Therefore, understanding emotions
“Only by producing and selling things and services does capitalism in its present form work, and the more that is produced and the more that is purchased the more we have progress and prosperity” (Shah, 2005). Goods and products are being constantly consumed, which has taught people that this is the only way modern day society works, as well as in Brave New World. Even in today’s society, consumerism is still relevant just as it is portrayed in Aldous Huxley’s Brave New World. To begin with, the same theory that today’s society only progresses as consumerism increases appears in Huxley’s Brave New World as well. “The more stitches the less riches..”
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
1) Ward.S (1974) traced the development of consumer socialization in the research paper and described the consumer socialization as “what processes characterize children’s acquisition of knowledge, attitudes and skills relating to consumption behavior, how these vary by factors such as family environment and social class, and how these processes change over time.”
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
Every company wants to understand why people decide to buy its products or others. Firstly, we have to understand why people buy certain kind of product. People buy products because they need them. A need is activated and felt when there is a sufficient discrepancy between a desired or preferred state of being and the actual state. (Engle£¬Blackwell and Miniard. 1995. p407 ) For example, when you feel hungry, what you needs is some food. It is very important for marketer to understand the needs of consumers. All the consumers may have the same needs, but the ways which they satisfy what they need are different. Here is a example, Chinese people would choose rice when they feel hungry, whilst British people may choose bread to satisfy their needs.
The allure of a marketplace is down to a science. Marketers want a customer to be as engaged and willing to spend their money as possible. Some tactics are downright dirty and a perfect reflection upon the company who employs them. While customers should be outraged at such ploys, perhaps they also need to realize the effect such campaigns have had upon themselves. Customer’s materialism is a direct reflection of today’s market and America’s consumerism.
Marketing professionals create, manage and/or enhance brands in order to create or bolster demand for the product. A successful marketing plan will help assure that consumers look beyond just the price or function of a product when making a purchasing decision, in part, a well planned marketing effort will create a “feel good” association about the product the consumer is about to purchase (Petty) A key part of a career in marketing is to understand the needs, preferences, and constraints that define the target group of consumers or the market niche corresponding to the brand. This is done by market research. This is accomplished through market research, essentially using survey techniques, statistics, psychology and social understanding to help gather information on what consumers want and/or need, and then designing products, or services, to hopefully meet ...
According to Kotler (2012), Marketing is about identifying and meeting human social needs, thus it is not only about advertising and promotion it is more than this. It includes setting competitive price, communicating effectively with potential and existing customers and also introduction of new products.
As shown in Figure 1 there are many different definitions for Marketing. The key is that they all share a common theme, marketing is: “Meeting the needs and wants and providing benefits for customers.”
According to the Handbook of Media Management and Economics, marketing is “the art and science of satisfying consumer needs.” Marketing campaigns are strategic plans that will allow a company to push their consumer into buying their product. A good campaign will identify the consumer, their consumer’s needs and desires, and what the consumer needs to experience to convince them the product will fulfill that need or desire. T...
Students will distinguish a want from a need by sorting words into the correct category of want or need, then write in sentence form an example of a want and a need, finally, why needs are important.
The major objective of any company is to make profits. Marketing is responsible for identifying a company’s customers anticipating their needs and wants, satisfying theses needs while keeping the its major goal which maximizing profits