The paper "The Powerful Process for Discovering What Your Customer Really Wants" Is a great example of a Marketing Assignment. These marketing plans offer a simulated purchasing process. In this case, the buying process starts off with a $55, 000 budgets to purchase a car in Australia for personal use. However, the availability of a multitude of brands in Australia makes the buying process. This plan offers the step by step process involved in the buying process and the theories and issues associated with each of the respective buying process stages. Need Recognition The first stage in the determination and initiating of a pricing process is need recognition.
In this case, a need is described as a necessity that an individual has to satisfy their inner requirements. In the determination and realisation of a need, there are two main sources of stimuli. They are the internal and the external stimuli respectively. On one hand, the external stimuli include the external factors in the changing market environment that create the need for a product (Zoltners, Sinha and Lorimer, 2004, p. 88). On the other hand, an internal stimulus is a change in a personal social or physical life that creates a need.
The key underlying principle for internal stimuli is Maslow’ s hierarchy of needs. The theory stated that an individual’ s needs are not static. This means that such needs change and evolve from time to time. As such, as one's social level of needs changes from one level to the next, they experienced the need for new products (Davis, 2011, p. 43). In the case of the new vehicle purchase for personal use, the stimuli are both external and internal.
On one hand, the externally changing environment on the availability of different customized vehicle brands and peers possessing of the same vehicles creates the desire to own a vehicle. This is mainly based on peer pressure and the need to feel and belong to a given set category of the society that has evolved to own vehicles. On the other hand, an internal stimulus for owning a car is based on rising social stats. In this case, the rise of the needs form the physical to the safety and social levels creates the need to match the new level f needs hierarchy with an associated product such as vehicles, to offer a sense of safety, convenience and satisfaction respectively. Information Search The second stage in the buying process for a product is an information search.
In this regard, an information search process includes the search and sourcing of the key relevant information to enable the purchaser to makes an informed decision. Although the sources of information are uniform, the key consulted source and the time spent in the search process are highly reliant on the type of purchase.
On one hand, for a little cost frequent purchase, the process of the information search is limited and often fewer alternatives are sought. In this case, the information sources are selected based on the ease of access by the buyer. On the contrary, a high involvement less frequent purchase includes a more detailed information search process (Dibb and Simkin, 2008, p. 37). In the case of the vehicle purchase, it was a high involvement less frequent product purchase.
Cherry, P. 2006, Questions that sell: The powerful process for discovering what your customer really wants, AMACOM, New York
Davis, K. 2011, Slow down, sell faster!: Understand your customer's buying process and maximize your sales, American Management Association, New York
Dibb, S., & Simkin, L. 2008, Marketing planning: A workbook for marketing managers, South-Western Cengage Learning, London
Gould, R. 2012, Creating the strategy: Winning and keeping customers in B2B markets, Kogan Page, London
Smith, T. J. 2006, Hawks, seagulls, and mice: Paradigms for methodically growing revenue in business markets, iUniverse, New York
Zoltners, A. A., Sinha, P.,& Lorimer, S. E., 2004, Sales force design for strategic advantage, Palgrave Macmillan, New York.