Identify and Describe at Least Six Markwt Segments
Task P5
‘Explain how and why groups of customers are targeted for selected products’
Customers are people who buy products and services from other people (usually companies of one sort or another). What customers think and feel about a company and/or its products is a key aspect of business success. Attitudes are shaped by experience of the product, the opinions of friends, direct dealings with the company, and the advertising and other representations of the company.
Irrespective of whether a business' customers are consumers or organisations, it is the job of marketers to understand the needs of their customers. In doing so they can develop goods or services which meet their needs more precisely than their competitors. The problem is that the process of buying a product is more complex than it might at first appear.
Customers do not usually make purchases without thinking carefully about their requirements. Wherever there is choice, decisions are involved, and these may be influenced by constantly changing motives. The organisation that can understand why customers make decisions such as who buys, what they buy and how they buy will, by catering more closely for customer’s needs, become potentially more successful. Term buyer are ones who purchases goods or services; also called customer. A consumer makes purchases for his or her own use or purpose. A professional buyer makes bulk purchases on behalf of a retailer or wholesaler. A media buyer purchases media space or time for an advertiser.
Factors That Influence Consumer Purchasing Decisions
Factors that influence consumer purchasing decisions are price, income, credit facilities, reference groups, and need satisfaction, (uPublish.info, 2005-2012). I believe a factor that is most important is the ‘needs satisfaction.’ According to uPublish.info, 2005-2012, Maslow’s theory of motivation suggests that human beings seek to satisfy lower needs and then the higher needs: 1. Physiological needs- this
‘Explain how and why groups of customers are targeted for selected products’
Customers are people who buy products and services from other people (usually companies of one sort or another). What customers think and feel about a company and/or its products is a key aspect of business success. Attitudes are shaped by experience of the product, the opinions of friends, direct dealings with the company, and the advertising and other representations of the company.
Irrespective of whether a business' customers are consumers or organisations, it is the job of marketers to understand the needs of their customers. In doing so they can develop goods or services which meet their needs more precisely than their competitors. The problem is that the process of buying a product is more complex than it might at first appear.
Customers do not usually make purchases without thinking carefully about their requirements. Wherever there is choice, decisions are involved, and these may be influenced by constantly changing motives. The organisation that can understand why customers make decisions such as who buys, what they buy and how they buy will, by catering more closely for customer’s needs, become potentially more successful. Term buyer are ones who purchases goods or services; also called customer. A consumer makes purchases for his or her own use or purpose. A professional buyer makes bulk purchases on behalf of a retailer or wholesaler. A media buyer purchases media space or time for an advertiser.
Factors That Influence Consumer Purchasing Decisions
Factors that influence consumer purchasing decisions are price, income, credit facilities, reference groups, and need satisfaction, (uPublish.info, 2005-2012). I believe a factor that is most important is the ‘needs satisfaction.’ According to uPublish.info, 2005-2012, Maslow’s theory of motivation suggests that human beings seek to satisfy lower needs and then the higher needs: 1. Physiological needs- this