The Market A Target Market Segmentation - 1915 Words

I. The Market A. Target market segmentation 1. What are the needs? The buying process starts with need recognition. The buyer recognizes a problem or need. A need can be triggered by external stimuli. For example, an advertisement can develop a person’s need to make a purchase. The marketer at this stage should research consumer needs in order to determine what kinds of needs or problems arise and how they lead the consumer in making a particular product decision (Armstrong Philip, 2012). Maslow s Hierarchy of Needs describes a system for human motivation. According to Maslow, motivation is a range of psychological processes that help guide us to meet our personal goals, as well as driving us to continually achieve additional goals on a path towards greater self-awareness. By definition, motivation represents the choices we make; selecting a particular path as opposed to a distinctly separate choice. Motivation represents the desire relating to fulfilling personal needs, how much energy and intensity we place in achieving the desired results, and how we deal with overcoming the obstacles in order to achieve our goals (Cizmeli, 2007). The target group desires a measurable return on the training investment in exchange for a consulting/training fee. The target market currently has an unmet need, in which they want PMP certified project managers; however, do not currently have the training resources necessary to justify the expense. Within the context ProjectShow MoreRelatedMarket Segmentation And Target Market803 Words   |  4 PagesMarket Segmentation and Targeting As identified that the ultimate purpose of running an organisation is not only manufacture their wares but also earn profit. Because of different sorts of clients, there is no product exist that may encompass all client demands. For every organisation, the market assortment procedure include to segment, target and position. 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