Principles of Marketing Term Paper Example | Topics and Well Written Essays - 1500 words

Principles of Marketing - Term Paper Example Products that are marketed under private brands such as Wall-Mart and Carrefour Group are sold at a lower cost compared to other products of similar value. Low price without compromising quality is the main factor that motivates con summers of goods under private label. Customers who seek the classification of products in one family brand are motivated to buy such products are motivated by availability of quality products under the brand. Customers who buy Del Monte fruit juice are likely to buy fruit products under the same brand. 2) According to Abraham Maslow’s Hierarchy of Needs, take products from the industries mentioned below and identify a minimum of two products for each level of the hierarchy. Then answer the follow-up questions. A product would be categorized in the esteem category rather than the social-belonging category due to its role in determining people’s attitude. In addition, the degree or quality of products in this class depends on social values. It is difficult to identify actual brand for the class of self-actualization products. This is because the value of products in this class depends on personal effort and abilities. For instance studying in the best college does not make a person to be excellent in problem solving. I would stand in a shopping mall and observe the visual reaction of customers concerning the new brand. I will also observe people’s behavior when consuming the product for example do they like to consume the Snapple drink while they are traveling or when seated down in a restraint with friends. I will introduce the drink to a selected population such as a school and analyze the students purchasing behavior for a period of one month. The introduction will involve giving free sample to the students and requesting them to be buying the product. In the survey, I will observe people purchasing behavior such