The product in the market as the result of various development process has to meet certain criteria for its success. The product was found as a result of brainstorming and innovation. Before its launch in the market, the product has to undergo certain plans and actions for being a success in market.
The Maslow’s hierarchy of need theory emphasis on various human needs arranged in terms of priority. As the Maslow’s hierarchy of the needs is considered; there are four kinds of needs for an individual. The hierarchy model of Abraham Maslow is in the pyramid form, from the bottom. It states the psychological need of a person where the person is more selfish in his own ways and he gives priority to his personal comfort than considering the needs and wants of others. The main constraints of the psychological needs are the breath, food, finance and the other essential resources.
The second is the safety need which mainly emphasis on the safety and security of the family, finance, resources and the security of oneself from any other calamities and robbery. The next step in the pyramid shows the necessity for the love and care from family and friends. After this is the need for self esteem which makes a person self dependent and confident to the needs of self realization. The person in this need mainly follows the give and take policy. The final and the most important part of the Maslow’s model is the self actualization of need, which is considered as a vital and the most significant one in the hierarchy, “Maslow’s theories of self-actualization and the hierarchy of human needs are the cornerstone of modern humanistic psychology” (Maslow, 2010, para.2). In this need, much importance is given to the problem solving technique, decision making skills, innovative, optimistic and the acceptance of the facts.
The Maslow’s theory can be applied to marketing. The theory was stated in 1943 and he might not have identified that it will be creating an excellent influence and impact in the marketing arena. “Psychology is put to many uses beyond the discipline. In marketing, these can be especially controversial. Psychological influence of marketing are unjustified” (Marketing psychology and the hidden persuaders, 2007, para.1).
The assumption put forward by Maslow states that, the inspiration for the least action prepared by man is a need which remains unfulfilled. When there are needs which are not met, we are provoked to congregate them in a precise categorization. Once the requirements on the initial level are met, we progress to the second level, and rapidly awaiting till the top most is reached.
By analyzing the Maslow’s theory, it can be understood how easily to fit in the marketing concept. When an effort is taken to do a sale, not only the product sales take place; but also the idea, image, reputation, benefits of the product are sold,by this way we actually accomplish hierarchy need.
To be flourishing in marketing enterprise, the foremost footstep is to have a precise understanding on the psychographic elements which finds attractive and creating attitude with a positive perception. It depends on certain constraints like the product details to be fulfilled, the methods to fulfill the needs, performance boost and effective marketing.
The main way of comparing the hierarchal theory and marketing is while the theory emphasis on meeting the next step in the decision making approach and the unfulfilled need. In a similar manner, the buying factor has the same way of getting the product through motivation. The advertising in marketing is much helpful in getting a good feedback from the promotion program, like wise “which may in turn increase their positive feelings about themselves and help them to fulfill another tier of Maslow’s hierarchy” (Maslows hierarchy of need, n.d, para.5)
Consumer Behavior Model
The consumer behavior model is the one in which the customer make the purchase and it also consider how he behaves in various purchase in the market. Consumer behavior depends on the culture of the society, social factors, personal opinion and psychological factors prevailing in the society.
The consumer buying behaviors are as the result of the effect of certain factors affecting them. Various factors affecting the consumer behavior are the psychological factors, personal factors, cultural factors and the social factors.
The psychological factors depend on certain psychological traits like motivation, perception, beliefs and attitude. Basic need satisfaction is also a driving factor in buying decisions. The psychological need comprises of recognition, regard, and belonging. Motivational factor is an essential psychological factor which motivates an individual to buy certain products based on certain motivating factor like the money, rewards or the extra benefits which he incurs. “Central to his concept of the consumer is the realization that psychological variables are the paramount force in propelling consumer behavior (Howard and Sheth 1969)” (Demirdjian, 2004, p.17).
The perception is a rough calculation of realism. It is the term where each of the people starts planning and organizing as a response to various stimulus. The perception has a main role with the advertising of the product. The perception is the effect which produces in the mind of the customer when hearing about the product.
The attitudes are the beliefs that are created about the product. Attitudes are the likes and dislikes of a person about certain products. It comprise of the evaluation of something that are very specific and lasting and are unstable. Various factors that a person’s attitude provides are the effective, values, ego and the deep knowledge. The attitude of the customer can be towards the product, company, retailer or the marketer.
Culture has a big role while determining the consumer behavior of a person. It greatly depends on the society and the way in which the person is grown in the society. This is because one’s behavior highly depends up on what he learned from the surroundings. “For the purpose of studying consumer behavior, culture can be defined as the sum total of learned beliefs, values and customs that serve to guide and direct the consumer behavior of all members of that society. Howard and Sheth have defined culture as “A selective, manmade way of responding to experience, a set of behavioral pattern” (Youvarani, 2009, para.2).
The people’s dignitary is a main factor for their buying habit. The economic status also affects the product choice. If recession is prevailing in the economy, the marketers take an action to redesign, relocate and reprise their product. If a person comes from the same subculture, the life styles of him show a discrepancy. Social class and their occupations will be differences in the life style. That is, life style matters a lot. A person’s lifestyle is facilitated by functions like official work, pastimes, recreation, social and cultural activities and interests in food, fashions, care of family and other pastimes. Personality influences the buying habit of a person and it defers from person to person. Personality usually describes the self confidence, supremacy, friendliness, independence, defensiveness, flexibility and aggressiveness. A person’s concepts and image reflects in their buying habit.
Application to Product
The product which we launched is a noodle consisting of a large amount of nutrients, protein and healthy content. The product is to be made available at a reasonable cost and is made available to the people of the economy level too.
The product is an innovative one, which is a result of several outcomes from the brainstorming ideas. The main concept during the launch of the product was concentrated on the new product development which is an innovative one. Certain features that make the product innovative are the shape of the noodles. Usually, the shape of the noodles is in a combined manner, which needs to be broken into pieces. But, Hot Noodle is of the broken form which makes cooking easier. The packaging was done in plastic containers, where the containers can be re-used and all the information about the product including the web address for any feedback was mentioned on the label.
The free offer of the sauce packages and ketch-up were provided to make the product tastier and attractive. The sauces as an additional taste maker have not been implemented previously and therefore this is a new product that offers a variety to the consumers.
Identify the Target Market
There are three main steps involved in identifying the target market. They are: understanding why the customer needs to buy our product and how it is beneficial to them. The second step comprises of overall market segmentation and the final step is to conduct market research.
The demographic factor has to be considered before marketing the product. The main constraints are the age, gender, social class, income, and population.
Our product is Hot Noodle which is the noodles prepared within seconds. Our product is used among the people of any age group. The content of the product are nutritive and laboratory tests were conducted and the standard measurements of each ingredient in the product were finalized, which cause harmless to all age groups.. “Incorporating demographic variables in brand choice models is conceptually appealing and has numerous managerial benefits. Retailers and brand managers can assess geodemographic variations in demand and marketing mix response in order to implement micromarketing strategies” (Kalyanam & Putler, 1997, para.2). The gender-wise promotion becomes easy. It is used equally by male and female. But females are the main customer as they find it easy to cook.
The social classes in the US are divided into affluent and upper middle class. So, the product finds it easy to be marketed. Hot Noodle is priced much reasonable and at an affordable price. So, the buying behavior analysis gives a good feedback from the social class. The income and the population are much advantageous to the product marketing. The market sizes are comparatively much higher in any of the countries, which have comparatively high growth opportunity for the products in the market.
A market research is conducted to identify various purchase power of the customers, the preferences, tastes and the attitudes of them. The research can be conducted by data analysis.
The questionnaire is the method of data collection which is effective to identify the preferences, attitudes and the hiring attitude of the individual researchers, and the organizations in getting the adequate information. A questionnaire consists of a series of questions, given to the chosen respondents for getting the data.
In questionnaire method, two categories of questions called open ended and closed questions are involved. Open ended questions are expected to obtain descriptive answers. This type of question starts with what, describe, why and how. Closed questions can be replied with a single or small phrase. The questionnaire can be distributed to the respondents from various locations including the super stores and the outlets.
The survey method is a much efficient method in identifying the customer needs, wants and the purchase behavior and the purchase power parity. The survey can be conducted by analyzing various behaviors that they exhibit in the market including the social, cultural and the psychological needs.
The competitor analysis is the activity which has to be conducted during the setting up of the market plan. The competitor analysis helps the organization in many ways. The understanding of the competitors helps in understanding the performance of them and takes advantage of the same to make our product a success than the competitor’s product.
The major competitors in the US noodle market are the Macaroni, spaghetti, and vermicelli. They have been into the market for many years and had establishes themselves.
Various trends in the noodle market are, increase in the production facility of 1% per year and good growth achievement in the economic sector. The total competence of the US marketplace is found to have come up of 1,880,892 tons in 2009 which leads to growth of 8.9% in comparison to previous year.
The product of our company is different as it has a lot of differences. Before the noodles had a problem and was considered as junk food and it was said that they had no fibers in it. But, our product has been specially designed as to meet the nutritive and the health content and it consist of wheat added to it. The packaging also is quite different as they are provided both in aluminium foils and in reusable containers. The noodles have also been in a special shape, making them easy to cook.
Identifying various consumer behaviors and the product stability in the market, help it to be a success.
Demirdjian, Z. S. (2004). A pavilion for the pioneers of consumer behavior: A petition presented to St. Peter. Web.
Kalyanam, k., & Putler, D. S. (1997). Incorporating demographic variables in brand choice models: An indivisible alternatives framework. Marketing Science. Web.
Marketing psychology and the hidden persuaders. (2007). The Psychologist. Web.
Maslow, A. H. (2010). Toward a psychology of being. Powell’s Books. Web.
Maslows hierarchy of need. (n.d.). Editorial Today.Com. Web.
Youvarani, R. (2009). Cultural & environmental influences on consumer. Articles base. Web.