Needs, Wants and Demands

2333 Words5 Pages

To achieve and maintain success in such a complex system as market it is essential to every marketing person to understand clearly consumer behavior. Understanding consumer behavior is not that easy as it may seem from the first glance. The reason is that there are plenty of various factors that may influence it in one certain way or the other. When considering each of the factors it is also important not to forget that they ought to be analyzed as different parts of one whole picture, that is, in correlation with each other. The factors that have a great influence on marketing management, marketers’ business decision-making, and their relationship with customers include macro- and micro-environment, and the latter in turn includes the concept of so-called “4 P’s” (i.e., product, place, promotion, and price). Micro-environment is also referred to as “immediate environment” and stands for the factors that are literally “close” to a certain company: its suppliers, customers, intermediaries (e.g., advertising agencies), and competitors (“Marketing environment,” n.d.) Four P’s are also called “the marketing mix,” and their most widely used interpretation belongs to McCarthy (Blythe, 2008). The marketing mix indicates the four aspects of how to make your business profitable and yourself proficient as a marketing specialist. As Cannon (1992) pointed out, “The marketing mix is the set of controllable variables that the firm can use to influence the buyer’s response.” First, the business person needs to understand what the product of consumer’s desire is. It is obvious that “an undesired product” will not be sold. Producers, however, may invent something that consumers even did not expect to have but really wanted, at least, unconscious... ... middle of paper ... ...he USA: Cassell. Davis, P. (2011, December 19). Increasing demand with eBooks. Retrieved from http://www.alphagraphics.com/blog/2011/12/19/increasing-demand-with-ebooks/ Demographics. (n.d.) Retrieved from http://www.knowthis.com/principles-of-marketing-tutorials/managing-external-forces/demographics/ Fundamentals of marketing. (n.d.) Retrieved from http://www.bournemouthcitycollege.com/attachments/036_Module2.doc Kotler, P., & Armstrong, G. (2008). Principles of marketing (12th ed.). The USA: Pearson. Marketing Environment. (n.d.) Retrieved from Needs, wants, and demands. (2009, September 6). Retrieved from http://www.soopertutorials.com/business/marketing/3264-needswants-demands.html Parr, B. (2010, July 20). Reading faceoff: e-books vs. print books. Retrieved from http://mashable.com/2010/07/19/reading-faceoff-e-books-vs-print-books/

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