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Essay / Effective Marketing Strategies - 2806
INTRODUCTIONPeople make up the market. It is a known fact that people are different. As consumers, their needs, preferences, motivations and behaviors differ from each other. This makes the job of marketers difficult. How should marketers adapt their products, pricing, promotion and distribution to meet changing consumer needs, preferences, motivation and behavior domestically and internationally? OVERVIEWWe are all consumers. As a consumer, our personal variables such as income, gender, age, occupation, attitudes, lifestyle and personality will affect how we choose to purchase and use goods or services. services. As such, marketers must understand their customer's personal variables, as they influence their choice to purchase and use goods or services. Only then can they develop effective marketing strategies to reach their customers and generate the required turnover. DEMOGRAPHIC CHANGE • Demography represents the size, structure and distribution of a population. • When you understand how demographics are changing, you will be able to predict the following; What 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 with consumers about a product?• Demographic data is used by marketers in 2 main ways:-i. Describe the market segments that have been formed. This information, combined with psychographic information about how people live, spend their time and money, could indicate behavior. ii. Analyze demographic trends that can indicate patterns in consumer behavior. a) The size of the population depends mainly on the number of humans making... middle of paper... and safety helmets. In short, the occupational group that a marketer chooses to serve would influence the goods/services offered to them.• Demographics include the size, structure and distribution of a population.• Demographic changes would affect the demand for products/services, distribution, pricing and promotion of the products or services.• Geographical factors important to the marketer would include nations, states, regions, countries and neighborhoods. their consumption pattern would also change.• Marketers need to be aware of the preference pattern of the market they are serving as it influences the product/brand they have to sell..