Effective Marketing Strategies

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 INTRODUCTION
People make-up the market. It is a known fact that people are different. As consumers, their needs, preferences, motivations, and behaviour will differ from one another. This makes the job of marketers challenging. How should marketers adapt their product, pricing, promotion and distribution to suit changing consumer needs, preference, motivation and behaviour at the domestic and international level ?

OVERVIEW
We are all consumers. As a consumer, our personal related variables such as income, gender, age, occupation, attitudes, lifestyle, and personality will affect how we choose to buy and use goods or services. As such marketers need to understand the personal related variables of their customer as they influence their choice to buy and use goods or services. Only then they can develop effective marketing strategies to reach out to their customers and generate the required sales turnover.

CHANGING DEMOGRAPHICS
• Demographics represents the size, structure and distribution of a population.

• When you understand how demographics are changing you will be able to predict the following ;

 Which product will be in demand ?
 Where would consumers prefer to buy them ?
 How much are they willing to pay for them ?
 What is the best way to communicate to consumers about a product ?

• Demographics are used by marketers in 2 major ways :-

i. To describe maket segments that have been formed. This information when combined with psychographic information, which is the way people live, spend their time and money would be able to indicate behaviour. ii. To analyze demographic trends which may indicate consumer behaviour patterns.

a) Size of population is essentially addressing the number of humans making...

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... and safety helmets

In short, the occupational group a marketer choose to serve would influence the goods/servics offered to them.

• Demographics includes the size, structure and distribution of a population.
• Demographic changes would affect demand for product / services, distribution, pricing and promotion of products or services.
• Important geographic factors to marketer would include nations, states, regions, countries and neighbourhood.
• Geographic areas can vary in the following areas :-
 Consumption pattern and preferences
 Population growth
• Consumers attitude will influence what and why they buy.
• As consumers lifestyle changes, their consumption pattern would also change.
• Marketers must be clear of the market preference pattern in the market they are serving as it influences the product / brand they should sell.

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