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Target Audience & Competition in Developing a Marketing Strategy

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Target Audience & Competition are the next components to be addressed in the process of developing a Marketing Strategy. To choose an appropriate target market, one must understand how consumers make purchase decisions

PART 1: General Research

1. Research and discuss Maslow's theory of needs and how it is applied to marketing. Resources MUST include articles

2. Define the stages of the consumer behavior model (or industrial model, if appropriate) and apply how the concepts affect the marketing effort. Research MUST include material from the article above.

PART 2: Application to Product/Service

1. Provide a quick overview of the product (Defie: Anti-Aging Cream) you created in the Discussion Board of Unit 1 - you should continue using the content from the U2 Discussion Board.

2. Even though you have "created" a product or service, the applications and research in this section will be real.

Identify your target market. Provide a specific demographic profile and rationale for this decision. Another source that may help you: The US Census Bureau's American Fact Finder. Consider the size of the market and its purchasing power. Research is required to back-up your selection and to provide statistics to show that it is a viable market.

Analyze your competition. Who are they? Who are the biggest players? How large is the market? What are the trends/forecasts in the industry? How does your product/service fit in?

The assignment requires the use of articles.

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Solution Summary

This solution discusses Maslow's theory and stages of consumer behavior as the apply to Defie. Also provided is a product overview, a discussion of Defie's target market, and a competitive analysis. This solution is 1000 words with seven references.

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Maslow's Theory Applied to Defi

The skin care product Defi anti-aging cream satisfies personal needs that go beyond
the basic needs of physiological. However, with all natural ingredients it may satisfy the
basic need of safety. "The essential idea of Maslow's theory is that people are motivated to
behave by unsatisfied needs" (Colvin & Rutlin, 2008). The next level of needs are love and
esteem. The product satisfies esteem by helping women achieve the goal of healthier and
younger looking skin. Many women believe they will be more loved if they improve their
physical appearance. At the next level, self actualization is achieved when women realize
they can do something to improve the condition of their skin.

Stages of Consumer Behavior and Defi

In the first stage of buyer behavior consumers recognize an unmet need or problem
to be solved. For women with skin care needs this means recognizing that the skin does not
look the way it once did or a need to improve the overall look. In the second stage,
consumers look for information about products that may meet their needs. Marketing Defi
as a product that meets the skin care needs of women is critical. Buyers will then evaluate
alternatives. They're interested in their situation, their problems, and their need to reduce
costs" (Graham, 2006). The product must first meet their physical needs. Then, if the
product meets the need of price it will be strongly considered. Pricing of Defi products is
critical, as many consumers will look for lower priced alternatives. The quality and
effectiveness of Defi is critical in developing ongoing relationships with consumers. If
women are dissatisfied with the product in the last stage, post-purchase evaluation, they
will ...

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  • MEd, Jones International University
  • BSc, DeVry University
  • MPH, Walden University
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