Is what you see (that is, observe or document empirically) real? Is the human psyche too complex to be understood in actionable terms by marketing professionals?
What do consumers think they know about the drivers (that is, triggers) of their buying behavior, and what do they really know?© BrainMass Inc. brainmass.com October 25, 2018, 1:35 am ad1c9bdddf
Human psyche is a very complex process because it involves not only the economic factors but also the emotional and social factors (Clark & Goldsmith, 2006). Understanding of human psyche is relay a very complicated tasks for the marketing professionals because without understanding this it would not possible for the organizations to evaluate the needs and demands of the marketing (Jacoby & Johar, 1998).
The heterogeneity among people across the world makes understanding consumer buying behavior an intricate and challenging task (Schiffman, Bednall, O'Cass, Paladino, Ward & Kanuk, 2008). The marketing efforts of a firm have a profound impact on the buying decisions of the customers, which eventually lead by the human psyche. There are various factors that directly influence the human behavior such as human identity, his beliefs, specific needs, attitudes, social status, living standard, etc. The psychology of human is a varied factor that should be same for the different situation. These variances are the main cause of changes in the income status, education, society, price of the product, globalization, etc. (Clark & Goldsmith, 2006).
It has been observed by the various researchers that the success or failure of the product or service is directly related to the human psyche and their preference. Hence, an understanding of the human psychology helps marketers to come up with the innovative product mixes (Peter & Donnelly, 2002). Consumers are the base of the business process of the ...
The solution examines marketing actionable terms of professional.
Customer base, buyer behavior, demographics, area
See attached file.
Based on the product: digital camera
Write a paper in which you outline the preferred customer base, buyer behavior, demographics, psychographics, lifestyle, geographic area, benefit segmentation, and user segmentation for the product(s). Identify the ideal target market for your selected product. In your paper, include the following:
- Provide a specific description of the target market, which should be measurable, accessible, sustainable, differentiable, and actionable.
- Include the total marketing budget. This is when the cost of acquisition is not greater than 10% of the retail price or one month of annual service.
- Estimate the size of the market and estimated penetration percentage.
Provide justification for your answers.View Full Posting Details