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Compare and contrast needs, wants, and demands. Which one(s) can marketers influence?
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- Compare and contrast needs, wants, and demands. Which one(s) can marketers influence?Discuss the statement “Marketers don’t create needs; need preexist marketers.” Can marketing effort change consumers needs? Why or why not? Can they arouse consumer’s needs? If yes, how?What is the relationship between market segmentation and the selection of target markets?
- What are the three hierarchies of effects? Give an example of each and discuss strategies marketers use to influence consumer behavior in each of the three scenarios.What is the concept of customer insights and the role it plays in making good marketing decisions.What is Behavioural Segmentation of Consumer markets? What are its main components and how are these important from a marketing point of view?
- Explain the concept of the marketing environment and how marketers can use the ‘controllable variables’ within the mix to influence the buyer’s response. Support your answer with relevant examples.Provide two examples of sources of customer expectations from which the marketer has limited control.Is it wrong for marketers to create wants where none exist in the marketplace in order to make profits? Support your answer.