Target customers and marketing strategy Essay Example | Topics and Well Written Essays - 2000 words

Target customers and marketing strategy - Essay Example These needs are: psychological (hunger, thirst), safety (protection), social (be accepted, belong to a certain group), esteem (self-confidence, achievements, respect, status, recognition), and self-actualization (realizing one’s potential for continued self-development) (Maslow, 1970). This leads to the statement that a satisfied need is not a motivator. There is a doubt whether this really applies in practice to the higher needs as it is likely that self-esteem requires continues stimulation and renewal. In spite of its clarity it has some limitations which make it unacceptable in all situations (Wasserman, 2009). Few attempts have been made to test the validity of Maslows ideas. A big problem is that many companies do not satisfy higher-order needs through their jobs or occupations, and this cannot really be tested. Another point is that he viewed satisfaction as a major motivator and this is not directly related to production. In addition, Maslow does not mention the time p eriod between various needs (Raymond et al 2003). Applied to target customers and marketing strategy, Maslow’s hierarchy of needs allows managers to predict needs and demands of customers and their desires. Buyers do not always know why they decide to make a purchase -- and even when they do, they may prefer to keep the reason to themselves. Often, more than one reason or psychological motive may underlie a purchase, some of which may be known to the purchaser and others not. Separating the conscious from the subconscious is at best taxing, if not impossible. An understanding of buyer behavior has been strengthened by psychologically based concepts and theories of behavior and by psychoanalytical ideas (Wasserman, 2009). The psychological factors that shape personalities and needs are particularly significant in purchase and consumption behavior. Analysis of wants, motivations, attitudes, expectations,