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Marketing: Principles and Practice - Essay Example

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Marketing: Principles and Practice

The main defy faced by various marketers entails the complication in understanding some of the basic factors that influences purchases of products among different customers. This challenge applies to all type of products marketers ranging from fast selling products in the market to high street fashions. Customers age, level of education, taste, gender, income, and brand have a role in determining factors that helps in the selection and purchases of different products in the market. Marketing aspects plays a fundamental role in influencing customers’ perception on a product. Factors that influence the purchases of products in the market have a focal impact on the value and meaning attached to a specific product (Kotler and Armstrong, 2012, p. 56). On the other hand, the significant of a product in the market is influenced by customers’ personal traits such as fashion sensitivity, and price consciousness. These traits vary from one section of the population to another. The understanding of the factors that determine the purchase of products in the market gives marketers an understanding on how different customers select fashion products in the market. This essay will address some factors that influence the purchase decision among post graduate student on fashion products (Rook, 2006, p. 253). The paper will also highlight the manner in which marketers of fashion products can use this understanding to satisfy the needs of the customers and gain competitive advantage over other competitors Factors that might influence the purchase of postgraduate students for fashion products Rational factors have an exceptionally crucial influence on purchase of fashion products among post graduate students. Rational factors entails economic as well as price related facets in purchasing. Price of a product constitutes the key rational factor that determines the choice of a fashion product among post graduate students. The price of a product must be equal to the quality of the purchased product. Post graduate students tend to pay more on high quality and durable product that on low quality fashion products. As a result, marketers must consider the income and age of postgraduate students in setting the prices on fashion products. Stoking products which are much beyond the financial capability of postgraduate students may prohibit them from considering the product in future purchases. Additionally, familial influence has a significant role in determining the rational aspect of purchasing process among postgraduate students. The familial impact influences individual rational belief on any fashionable product. Familial influence have an influence on the purchase of fashion products such as clothes but have a less influence on stylistic products such as luxury brand(Simonson 2003, p.71). Secondly, post graduate students evaluate their fashion products on the bases of the product physical make-up. The physical consideration of a product is known as product factors. Post graduate customers have a certain specific criteria for assessing the physical content of the branded fashion apparel. Although this criterion is naturally rational, post graduate students are more concerned with physical facet of a brand as compared with the resources limit and price. Marketers ought to consider both physical outfit as well as the price of the product in the market to attract and retain postgraduate students. The style of a product has an influence on t ...Show more

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MARKETING: PRINCIPLES AND PRACTICE Institution’s name: Date: Introduction The study of the process of purchasing is a study that is extremely complex. In the process of purchasing, the consumer decides to buy a specific product…
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Marketing: Principles and Practice essay example
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