WHAT IS THE RELATION BETWEEN CONSUMER NEEDS AND MARKETING STRATEGY..?

CONSUMER BEHAVIOR AND MARKETING STRATEGY

Marketing concept is formulated on the basis of need and wants of consumer , so every organizations have duty to satisfy the need of customers. The marketing concept suggests an organization should satisfy consumer needs and wants in order to make a profit.

Consumer behavior: the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

Dramatic success of Japanese companies

• Focus on providing consumers value-laden products
• Superior quality and lower prices of Japanese products
• Increased consumer interest in world markets

Dramatic increase in the quality of consumer and marketing research

• Use of technology to identify and know customers personally
• Ability to track consumer reactions
• Shift of focus to better serve consumers for three major reasons

Development of the Internet as a marketing tool

• E-marketing potential
• Increased importance of consumer behavior research
• Ability to conduct marketing research studies

Marketing strategy

Strategy means any plan and policies that designed for achieving long term objectives. I marketing strategy organization doing Design, implementation, and control of marketing a plan to influence exchanges to achieve organizational objectives

In consumer markets, these are designed to

• Increase chances of favorable thoughts and feelings of particular products, services and brands among consumers
• Increase chances of trial and purchase

• Developed by manufacturers, retail stores, catalog retailers, e-tailers and other direct marketers to
• Increase chances of favorable thoughts and feelings among consumers about purchasing from them
• Increase chances of actual purchase
• Developed by companies that make funds available for purchase to
• Increase chances of usage of services offered by consumers

marketing research help to know about customers, this will help to design products according to needs and wants of customers. Manufacturer conducts marketing research for this purpose. And understand customer need. This is the modern strategy of business.