Marketing

Marketing

Marketing

Having the desire to have a new HD television with surround sound that cost $2,000, I have decided to work the entire summer in order to save this cash. My decision follows the five steps that are involved in customer buying decision process. The first step is identification/recognition of the need. Recognition occurs when there is a lag between the customers’ ideal and actual situation, and the desired product.

The lag between the actual and the desired must be acceptable based on the value he/she gives to the product. Recognition of a need is caused by both external and internal stimuli. Internal stimuli are physiological needs that are perceived by an individual, for example, hunger. External stimuli are activated by factors that are outside personal feelings such as advertisement.

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The bottom of the pyramid comprise of the most basic needs, which motivate people when they are not met. They are psychological needs such as foods and drinks. When the physiological needs are met, the next level is safety which includes, job security, health, family, and property protection. The third level is a sense of belonging.

Here, a person identifies relationships building strong bonds with family and friends. The next level is about esteem, where a person develops self-esteem, desire to have notable achievements, and seeks to get respect from other people. Lastly, it is self-actualization where a person develops morality and focus on solving problems without involving others.

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