'Needs' of consumers are artificially created

Marketing SkillsTable/ chart/diagram/image is missing. Please transfer the Word memorandum to view it. Assignment 1: Needs of consumers atomic number 18 artificially created (Producer) Producers play an essential usage in satisfying consumer of necessity today. Not only do they provide consumers with worthy products, b arly producers generally possess the better ability to determine the call for and penurys of consumers. The latter economic component often makes irrational choices because of a perverted understanding of what goods really provide most value. Producers, who be more competent in understanding the true ask of consumers, should therefore guide consumers towards purchase products which satisfy them. Indeed, through wide query on consumer fashion and preferences, producers obtain a double-dyed(a) understanding of what consumers require to improve their lives. agree to Maslows pecking high party of Needs - an established business possibl eness -, modern call for can be classified into atomic number 23 levels (in ascending coordinate from most basic): physiological, security, social, self-esteem and self-actualizing. In order to understand what consumers command and want, producers use market research (the sour by which producers gather, probe and interpret information about a market) - a signalise component of the marketing process.

Since market research is largely establish on feedback from consumers - obtained via questionnaires, customer interviews and other methods of garner data -, producers are able to understand what the market wants or needs from a consumer standpoint. This info! rmation is naturally valuable to the producers tho it may non fully reflect the actual needs of consumers. This is because consumers views are influenced by those of third-parties, such as the mass media, advertisement campaigns or society as a whole. This may indeed reign over consumers opinions on what goods provide value to them, which in turn prevents firms from preparation valuable products. Moreover, consumers may base their judgment and decision-making on aslant emotions... If you want to get a full essay, order it on our website: BestEssayCheap.com

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