How ‘needs’ and ‘wants’ are different from one another from marketing perspective? Explain your answers with relevant examples. Mention which marketing strategy is ideally suitable for each of them?

Q: Based on material self, what is the difference between need and wants? Give example

A: The idea of need and desires is expounded to a personality's being. Therefore, desires square…

Q: Describe the differences among three targeting strategies.

A: Segmentation is the task of marketers to divide and group customers with proper formation of…

Q: Consumer Decision Making Process:    1. Problem Recognition 2. Information Search 3. Alternative…

A: 1. Problem Recognition:      This stage occurs when the customer identifies a need or problem that…

Q: Can our product satisfy different needs or motives in different people? What needs are involved?…

A: Motivation is an internal urge or pushes to behave in order to meet a need. A goal-oriented person…

Q: In terms of expectations, when is a customer not satisfied, satisfied, and delighted?

A: Expectations are roughly a belief that one will get want they want. In marketing, expectations are…

Q: What are some of the strategies a firm can use to build customer focus marketing?

A: We as a marketer should always market our products/services by keeping the customer interest in our…

Q: What are the implications of marketing evaluation for future marketing strategy development and…

A: The process of examining a market's size, patterns, level of competition, consumer preferences, and…

Q: Explain what a customer need is, how this relates to Maslow’s Hierarchy of Needs (MHN), and provide…

A: Customer need is basically defined as the desire to buy the product. If customers buy products to…

Q: What is Consumer Decision Making? Explain with an example?

A: The consumer decision-making process consists of five steps: need identification, information…

Q: Determine the evaluative criteria that your target market(s) would use when choosing between…

A: In marketing, evaluative criteria denote selecting an altogether different product by the consumer…

Q: Write a short explanation to this question: When evaluating alternatives, consumers may go through…

A: Consumer products are offered and acquired in the market to satisfy the desires and requirements of…

Purchase Process

Purchasing refers to the act of procurement of products or services from a market of resources. The procedures used to accomplish the acquisition of the requisite resources are referred to as the purchasing process. Consumer behavior, customer strategy, product pricing, consumer necessity, and other variables are various parts of the process.