Home > Free Essays > Business > Marketing > Marketing Principles and Demographics Changes

Marketing Principles and Demographics Changes Essay

Exclusively available on IvyPanda Available only on IvyPanda
Updated: Jul 9th, 2020

The change in population demographics in America has a major impact on the type of products demanded in the market. There are more single adults in the population, which means that the products and services demanded to differ (Kotler 213).

Single people consume different products and services, hence the need for companies to use demographic change factors when determining their target market. Marketers have to determine the population demographic to establish the type of products or services to provide in the market (Pride 254). The demographic shift will change consumer behavior since the market has more single adults who have different needs and expectations. It is expected that most products and services used by single adults will have a high demand in the market, hence a shift in consumer purchasing behavior (Shankar 130). Factors that influence the consumer to buy a product will change, hence a shift in the purchasing patterns since they have different lifestyles from those married.

Products and services in the market are expected to change to reflect the lifestyle of the single adults in the market. Companies will recognize the market opportunity hence ensuring that they provide products and services that will satisfy their needs (Pride 64). In addition, the organization’s marketing strategy will change to ensure that the firms’ products and services are consumed in the market. The new marketing strategy will target the single adults in America to ensure that they understand the organizations’ products or services in the market and the ways they meet their needs and expectations (Shankar 272).

Business-to-business markets differ from business-to-consumer since they have different modes of marketing. Business-to-business marketing has fewer distribution channels compared to business-to-consumer marketing. Business-to-consumer marketing is controlled through emotions since the business has to attract more customers by appealing to them (Pride 188). However, business-to-business marketing is business or task-oriented to ensure that each firm gets what it needs in its production process.

It is difficult for organizations to establish what is ethical or unethical behavior due to the cultural difference in the market and in the firm. Every culture has certain values and beliefs, which differ from others, hence making it difficult to determine what should be considered ethical or unethical (Kotler 108).

The first category of buyers is the producers. These are firms that purchase raw material to produce products for the market. For instance, McDonald’s purchases raw materials such as flour to produce food for the market. The second category of buyers is the resellers (Pride 57).

Resellers purchase goods or services from the manufacturers with the aim of selling them without changing the products. For instance, Walmart purchases products from different companies to sell them to retailers and consumers. The third is the Governments. This occurs when a company sells its products or services to a country such as the United States. The final category is the institutions. Institution purchases products from companies to enable them to attain their goals (Shankar 97). For instance, the Red Cross purchases products from different companies to ensure they deliver their services efficiently.

A professional buyer has the following duties: determine product availability, analyzing a company’s sales level, negotiating prices, keeping track of market changes, determining suppliers, and tracking advertisements. In addition, a professional buyer must keep track of the demand and supply in the market (Kotler 76).

Work Cited

Kotler, Philip. Principles of Marketing. Boston: Pearson, 2014. Print.

Pride, William. Marketing Principles. South Melbourne: Cengage Learning, 2015. Print.

Shankar, Venkatesh. Handbook of Marketing Strategy. Cheltenham: Edward Elgar Pub, 2012. Print.

This essay on Marketing Principles and Demographics Changes was written and submitted by your fellow student. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly.
Removal Request
If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda.
Request the removal

Need a custom Essay sample written from scratch by
professional specifically for you?

801 certified writers online

Cite This paper
Select a referencing style:

Reference

IvyPanda. (2020, July 9). Marketing Principles and Demographics Changes. https://ivypanda.com/essays/marketing-principles-and-demographics-changes/

Reference

IvyPanda. (2020, July 9). Marketing Principles and Demographics Changes. Retrieved from https://ivypanda.com/essays/marketing-principles-and-demographics-changes/

Work Cited

"Marketing Principles and Demographics Changes." IvyPanda, 9 July 2020, ivypanda.com/essays/marketing-principles-and-demographics-changes/.

1. IvyPanda. "Marketing Principles and Demographics Changes." July 9, 2020. https://ivypanda.com/essays/marketing-principles-and-demographics-changes/.


Bibliography


IvyPanda. "Marketing Principles and Demographics Changes." July 9, 2020. https://ivypanda.com/essays/marketing-principles-and-demographics-changes/.

References

IvyPanda. 2020. "Marketing Principles and Demographics Changes." July 9, 2020. https://ivypanda.com/essays/marketing-principles-and-demographics-changes/.

References

IvyPanda. (2020) 'Marketing Principles and Demographics Changes'. 9 July.

Powered by CiteTotal, the best reference generator
More related papers