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Marketing Fundamentals assignment (referral) 1 - Essay Example

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Marketing Fundamentals assignment (referral) 1

Having looked at some of the issues that make up consumer behaviour, we can now look at the consumer's central goal. Because they are continually occupied in the quest for satisfaction, competitive offerings will always have potential appeal. Firms must seek continuous improvement to the products or services and the levels of support they provide. This is a matter of balancing costs and potential profit with customer demands, as 'total satisfaction', except in a minority of cases, is an unrealistically expensive goal. There are four models of consumer behaviors:
An individual needs a particular product. Information will be sought from a variety of sources including family and friends (called 'word of mouth') from advertising, from catalogues, from visits to retail establishments, and from many other sources. The more complex the product, the greater will tend to be this information search. The task of marketing is to ensure that the company's products receive high exposure during this 'information search' period and that the best points of the product are emphasised during the 'evaluation of alternatives' phase. This will put the company's product in the best light prior to the 'purchase decision', because even then the consumer is still susceptible to further influences in relating to making the correct choice. Marketers must also be aware of 'post-purchase behaviour' because this can affect repeat business and forward looking companies attach as much importance to after-sales service as they do to making the initial sale. This reduces the degree of dissatisfaction (or dissonance) in the case of genuine complaints. One method that is now practiced for sales of major items like new motor cars is where companies follow up a sale by some form of communication by letter or telephone with their customers (Bowers et al, 1990). This builds confidence in the mind of the customer in having made the 'correct' purchasing decision. The terminology that has been attached to this kind of after-sales follow-up is 'customer care'.
An excellent example of a very successful brand is 'mother care'. This specific brand by the name of 'mother care' is a unique collection of all the items of children wear, as well as furniture, stationary, toy and much more. This brand has got a very good collection of everything that a child basically requires and in reasonable price.
Analysis of Marketing Strategies
Despite the economic and technological conditions that make it possible now to promote products and services in a larger consumer market, there are other factors that still need to be considered for a business organization to reach out easier to their target market. Looking into the characteristics and thought processes of the people still holds as the most significant factor to be looked into by the individuals in the field of sales and marketing. The large scope of market can pose a hindrance to a successful marketing strategy in terms of over generalized definition of the target or niche market.
Hessan & Whitely (1996) emphasized the idea to take advantage of the competitive situation not just by being better in how that product gets sold, serviced, and ...Show more


Marketing is the practice of preparation and implementing the pricing, advertising, and supply of goods, ideas, and services to generate trades that satisfy individual and organizational goals. Marketing has two key concepts, customer/clients acquisitions and maintenance of customers/clients.In the context of marketing, learning is a result of information received through advertising or other publicity or through some reference group or other…
Author : jerrod90
Marketing Fundamentals assignment (referral) 1
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