Consumer Behavior and the Four P's of Marketing

Consumer behavior is the how, what, when, and why people buy, a blending of psychology, sociology and economics. Attempting to rede a buyers decision-making process both someonely or in groups can at times be impossible. Understanding peoples wants and inevitably to transform those into marketing a carrefour the consumer wants and needs is what product, price, advancement and place argon all about. Defining Consumer Behavior Consumer behavior is defined by Hawkins et al. (2004): As the study of individuals, groups, or organizations and the processes they use to select, secure, use and raise up of products, dish ups, experiences, or ideas to satisfy the needs and the impacts that these process decamp on the consumer and society. Product, Price, Promotion, and Place Product, price, promotion, and place the four Ps of the marketing concoction. This mix recognizes that marketing is client focused and products are developed to hit the desires of groups of guests. Management of the product and product marketing are the judicial admission of the goods or service and how it meets the customers needs and wants. What product does the company portion out? The answer to the promontory should speak about a customer desires and wishes not what look for and development have come up with (Armstrong & Kotler 2005) Abraham Maslows hierarchy of Needs helps a marketer show the significance of what an individual needs to what customer behavior is. Maslows power structure of Needs is triangular. piteous up towards the top of the triangle few satisfy high-ranking needs. At the bottom of the triangle is physiological needs, this is air, food, water and the elementary needs to survive. Then second is aegis needs, humans have a place to live and protective cover from the elements and predators. The third take is social needs, this is were marriage, and friends come into play... If you want to lounge about a bount eous essay, order it on our website: OrderEssay.net

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