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Assessments for Marketing Management - Term Paper Example

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Marketing management in a business is the practice of focused practical approach of marketing techniques on the effective management of a business’ resources and events. In order to effect substantial growth, businesses have aimed to market their businesses beyond their geographical borders. …
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Assessments for Marketing Management
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Assessments for Marketing Management

In order to effect substantial growth, businesses have aimed to market their businesses beyond their geographical borders. This has made way to international marketing enabling businesses to compete at a global scale. As part of s marketing strategy, it is vital for a business to ascertain its status and relevance within a market in order to pave any way forward. The timing and the level of consumer demand help a business in establishing the right marketing avenue. The one in charge of the marketing strategy is usually the marketing managers in many organizations. In addition, a business should have detailed objectives and a better understanding of their businesses in order to initiate appropriate and cost friendly marketing engagement strategies. In this context, the marketing principle collides with strategic planning for effective implementation of the goals intended plan (Hill & Jones, 2012). For a long time, this form of management depended on three crucial aspects that are the customer, the competitor, and the company analysis aspects. These constitute the three C’s of marketing. However, this paper will dwell on various aspects that contribute towards effective marketing and access of a market audience. Question 1: Different needs that most consumers have Majorly, there are categories of consumer needs. These needs are stated, real, unstated, delight and secret needs. Ideally, a customer buys a product mainly for its ability to offer a solution to the need presented. In a break down, stated needs are those that a customer has articulated and seen the importance of having as a matter of priority. Here the cost of the solutions not the customer’s priority but the priority is the having any product satisfy the need. In addition, the taste or the choices of the product do not matter, as it is a matter of immediate problem solving and not spoiled choice. The second type of need is the real needs category that involves the consumer’s specific action in to what they are looking for. For instance, a consumer may mention what they do need but when it comes to the actual search or picking of the solution to their problem, they may pick on something different. In this regard, the price of the product that they intend to buy may hinder them from going for the most expensive hence meeting the real need with a relatively affordable product. Thirdly, there are the unstated needs that a customer may have but they do not say them out loud (Krishnamacharyulu & Ramakrishnan, 2011). This is to mean that these are needs, which a customer may not express, but still expected by the consumer. Essentially, these could be in terms the consumer expected prices of the commodity and assistance in ascertaining which product will have a pocket friendly price. In this regard, this need draws facilitation from the retailer selling the products. The fourth need that a consumer may have is the delight need that entails the surprise additional benefits of acquiring the product during its sale. In essence, it is more appealing to a consumer when the product that they intended to buy has a buy one-get one free tag line. Ideally, any consumer would tend to go for a product that will give more for less irrespective of their quality attributes. Therefore, a consumer may go out to buy products to solve their needs but then change their minds when they get to the retail store because of the extra incentive factor. Lastly, the fifth type of need is the secret needs that are concealed inside a consumer’s head. Essentially, these are the needs, which application of a product solution will help the consumer be like a symbol within the products image. For instance, the hidden need when one uses a facial cream would be the need to become as the beauty queens used ... Read More
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