Customers are motivated to purchase, but not for the same reasons. To date, most explanations of customer motivation are based on cognitive factors rather than biological factors. At the very basic level, it is easier to apply Maslow’s theory.
Some experts believe that application of Maslow’s theory has been somewhat simplistically explained in a commercial application, especially as the same product or activity can gratify different needs. Yet, individual purchasing considerations and motivation aren’t easy to understand. Motivation can be a combination of learning experiences, buying history, and cultural environment.
In crafting products and services for the marketplace, managers should conduct research where targeted consumers are involved in order to formulate a well-balanced marketing-mix relative to the competition. Each customer has a need.
As you know, consumers are very complex. In fact, no two people are alike. Paul Peter and James Donnelly, authors of Marketing Management, maintain that marketing research can limit the risks associated with management marketing strategies.
Let’s explore this matter. Doing focus groups on the targeted market to gather market information would be critical. For example, a new retirement development would want to follow this strategy. Who would want to live there?