Target Market and Marketing Strategy Assignment

Target Market and Marketing Strategy - Assignment Example The second part of the assignment elaborates a product overview which is created and the target market is developed with respect to the product. The product is created keeping in mind the market demand of United States (US). The product being washing powder or laundry detergent is highly used in every household of US. The product which is created is named as White Magic and its features are created keeping in mind the other competitor’s detergent features so that it is fit for US market. Lastly, a competitor analysis is done to identify the biggest player in the US detergent market. Abraham Maslow is known for proposing the Hierarchy of Needs Theory in 1943. Maslow’s theory of needs reflects the basic human requirements and highlights the scale of motivations that result in desired outcomes. The theory explains that the motivation for any action made by any human being is an unfulfilled need. It identifies five primary areas of needs that are experienced by most humans. The five levels are a physiological need, safety needs, social needs, esteem needs and lastly the self-actualization needs (Daina, 2007). Maslow stated that the human behavior and decision-making are guided by one of the five need levels in his hierarchy that are discussed above. Now apply this theory to the marketing concept it can be implied that consumer targets can reflect a basis of perspectives and the decisions that come with those perspectives. The main determinant of potential success is the ability to effectively appeal to one the above motivational drivers (Thompson, 2013). When a company is selling a product to a customer they are not only selling the product but also selling the idea and the image of the product to the customer. The companies promise to fulfill one or more needs in the hierarchy. Thus the marketing campaign plays an important role in marketing a product. A marketing campaign in order to be successful should motivate the people who are at lower levels of needs. Knowing consumer taste is the key to a successful company.