- Marketing will enable the customers to be aware of the products on offer. They will end up buying the item because the way it is marketed appeals to them.
- Sustainable marketing can best support a company’s long-term marketing objectives. It enables the company to consider future needs and the long-term impacts of its marketing as well as the consequences of using specific approaches and products.
- I do not always follow the five steps of the consumer buying process. For instance, when I buy a piece of chocolate, it is mostly a form of impulse buying brought about by the desire to have the chocolate. It might be that I have seen an ad somewhere that reminds me of the product, and it does not necessarily mean that I recognize a problem. However, for some products, I do buy because I realize a need. I will also take the time to seek the information I need including the best place to purchase the product. Such purchases result from purchases that I had already planned, before the buying process.
- The traditional geographic, demographic and age or life cycle segmentation may be the wrong approach to meet some objectives especially in reaching smaller segments because they are too limiting and they do not provide the knowledge needed to develop the marketing strategy.
- Narrow segmentation enables the company to identify the specific needs of the consumers. This approach is important, as it ensures that the strategy delivers the exact products and services that the consumers need. The company can take advantage of this to charge higher prices. However, when segmentation is broad, the company does not have the same privilege since it is not able to determine the needs, preferences, and status of the consumers. A company that identifies a higher-class segmentation as its main group can take this advantage to charge a higher price, and this will increase its profitability.