The paper "Consumer Behaviour for a Hypothetical Product" is a perfect example of marketing coursework. Lifestyle magazines are a rich source of information for young women, especially regarding relationships, careers, and fashion. As such Populist Publishers has launched a magazine targeting women aged between 17 and 25 years in Australia with the hope of attending to the information needs presented in this market. According to the Population Reference Bureau (2010), the 2006 statistics indicate that the country has 4.2 million young people aged between 10 and 25 years. Of this, 37 percent are girls aged between 18 and 25 years.
This, therefore, means that the country has a ready market for the product. The name of the magazine of “ On the Move” and is specifically meant to capture the attention of the ambitious woman who understands that opportunities are available to those who seek them. Though the name may not specifically capture the attention of the young women, the graphics on the cover page and the marketing strategy stated hereunder will compensate for this. Target Market description The magazine will target young women aged between 17 and 25 years in the major urban centres across Australia since literacy levels, the need for information and entertainment and the purchasing power is higher in urban centres compared to rural areas.
In addition, the content of the magazine is formulated to resonate with young women are fashionable and career-oriented. At 17 years, most young women start considering the careers they will take in the future especially after high school graduation. The magazine also targets young women who are discovering their likes and preferences in life and will, therefore, features stories that will appeal to their adventurous spirits.
At the target age, most women are yet to realise their ambitions in life and hence the magazine will provide them with different platforms through which they can learn, have fun and be informed. This will help them in their decision-making. Although the target group is still undertaking tertiary education, a fair percentage earns decent incomes. Even those who are not yet in income-earning activities having money provisions from their parents and guardians which enable them to purchase different products in the consumer market.
This, therefore, means that marketers can use the avenue presented by the magazine to market their products and services. Maslow’ s Hierarchy of Needs: In the hierarchy of needs developed by Abraham Maslow, the magazine discussed in this essay will serve to address social needs; esteem needs; and self-actualization needs which are contained in the three upper tiers in the hierarchy. According to Huit (2007), the hierarchy formulated by Maslow describes “ the kind of information people seeks at different levels of development” (p. 1). The target audience for the magazine have their basic needs and security needs met, thus leaving them a persistent yearning for information that can help them make their lives better, enlighten them on social issues, empower them, thus addressing their self-esteem and edifying them, thus providing them with the aesthetic and cognitive information needed to pursue self-actualization. By publishing the magazine and circulating it in the market where the target audience can access it, the publisher will have provided young women in Australia a channel where they can access information that they need at that particular stage in their lives.
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