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 market a carrefour the consumer wants and needs is what product, price, advancement and place be 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 devolve on of products, dish ups, experiences, or ideas to satisfy the needs and the impacts that these process wild on the consumer and society. Product, Price, Promotion, and Place Product, price, promotion, and place the four Ps of the marketing smorgasbord. This mix recognizes that marketing is client focused and products are developed to fill up the desires of groups of nodes. Management of the product and product marketing are the specification of the goods or service and how it meets the customers needs and wants. What product does the company trade in?

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 picture 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 fewer satisfy high-ranking needs. At the bottom of the triangle is physiologic needs, this is air, food, water and the elementary nee ds to survive. Then second is security depa! rtment needs, humans have a place to live and tax shelter from the elements and predators. The third take is social needs, this is were marriage, and friends come into play... If you want to uprise a bounteous essay, order it on our website: OrderEssay.net

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