Homework
Marketing products to consumers (or through a channel that sells directly to consumers), requires an understanding of the target market's purchase decision-making process. In order to help understand the target consumer, the following analysis must be made.
Task
Part A
Choose any product or service you wish and conduct an analysis of the following elements:
I. A demographic profile of the likely target customer, to include:
i. Age
ii. Income
iii. Occupation
iv. Education
v. Lifestyle (activities, interests, opinions)
II. Use Maslow's Hierarchy of Needs to describe the level of motivation of the target consumer. Why is the consumer buying the product?
III. What external forces will influence the target consumer as he or she considers the purchase? For example, will the consumer's culture or subculture affect the purchase decision? How?
IV. Describe EACH step of the consumer's typical consumer purchase decision process. What is the likely process a consumer will go through in making the decision to purchase your chosen product or service? For example, what actual or perceived problem might exist for which the product or service would be a possible solution?
V. Explain how technology or technological innovation can be used by marketers to impact the target consumer's decision making process. Also, explain how technology can impact the consumer's interaction with the firm or reseller in the actual purchase of the product/service.
Part B
After you have completed your target consumer analysis, use the "4 Ps" of the marketing mix to create a comprehensive marketing strategy that will best satisfy the wants/needs of the consumer and ADD VALUE to your product offering.
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.