Marketing shapes consumer needs and wants versus marketing merely reflects the needs and wants of consumers POSITION: MARKETING SHAPES CONSUMERS NEEDS AND WANTS
* Marketing is the management process of identifying, anticipating and satisfying consumer needs and wants profitably. CONSUMER
* Consumers are the users of any product or service. They are also considered as the starting point of any business and also the survival of every business depends on how well consumers and clients are treated. CONSUMER NEEDS AND WANTS
A consumer feels physiologically deprived of basic necessities such as food, clothing and shelter which are his needs and his wants are based on personal knowledge, culture and personality.
HOW CONSUMER NEEDS AND WANTS ARE SHAPED
* Needs and wants pre-existed marketing and therefore marketing identifies these needs and wants, shapes and satisfies them. * Marketers uses the following to shape consumer needs and wants: * ADVERTISEMENT
This is a powerful marketing tool which a firm uses to inform the consumers about the existence of its product. It is done through radio, Internet, newspapers, television commercials, etc. Some ads come with interesting and catchy phrases and words like buy one get one free, free trial, free installation, free packaging etc. These catchy phrases normally attract consumers to buy the product. * MARKETING RESEARCH
Marketers conduct research to identify the right product to satisfy a particular existing need of a consumer by employing the marketing tools (interviews). It is through these procedures that consumer needs and wants are shaped. After the introduction, there is constant interaction with publics in studying the responsiveness of consumers to the product to be at par with their changing needs MARKET SEGMENTATION
Market segmentation deals with dividing the market into groups based on gender, age, income, life style, life...