The Impact of Marketing on Consumer Behavior and Decisions

This assignment delves into the realm of marketing and consumer behavior, examining the interconnectedness of pricing strategies, marketing concepts, and their influence on customer decisions. It begins by differentiating between price and pricing, highlighting their impact on production, selling, and marketing concepts. The paper then emphasizes the importance of the marketing concept in meeting customer needs and explores how marketers can influence consumers by focusing on product value and characteristics. The study analyzes strategies for influencing product components, such as emphasizing quality and expanding marketing reach. Finally, it underscores the fundamental role of marketing in driving sales and profits, highlighting the significance of understanding consumer psychology and employing effective marketing techniques. The analysis is supported by a case study, which illustrates the practical application of these marketing principles and strategies.

Running head: MARKETING CONSUMER BEHAVIOR 1
Marketing Consumer Behavior
Student’s Name
Institution
Date

MARKETING CONSUMER BEHAVIOR 2
Task 1
Price and pricing are differentiated by a thin boundary that separates their definitions.
Price can be termed as the tag or amount of money that is placed on a product. A good example
can be seen in the case of a phone. The recent Apple iPhone comes at the cost of $1000. In the
given example, $1000 is the price. When it comes to pricing, it is a process that is used to reach
the price (Dr. Fanning, n.d). Before the company releases products to the customers, they must
reach the customers at a specific price. The process of determining the exact price is known as
pricing.
There are three essential marketing concepts, and each of them is affected by price and
pricing. The production concept is affected by the pricing and price of the product because if the
price of the product is high, the sales might reduce and that means that production has to be
decreased (Dr. Fanning, n.d). The selling concept is also affected by the pricing process and also
by the prices of the products because when the products are priced at a high price, the buyers
might reduce and that means that the company will have a challenge in selling its products to the
customers (Dr. Fanning, n.d). The marketing concept is affected by the process of pricing
because when the products are priced at a high price, the marketing initiative might be faced with
a challenge and this is because the intended customers might pay less attention to the marketing
teams.
Task 2
The marketing concept emphasizes the need for an organization to make sure that it
meets the needs of the customer while preparing products and services to reach the markets.
Therefore, the marketer comes in handy to convey this essential message of the consideration of

MARKETING CONSUMER BEHAVIOR 3
the company in meeting the needs of the customers (Dr. Fanning, n.d). The marketers are able to
influence the customers by touching on the aspects that are relevant to the interests of the
customers. During the marketing campaign, the essential way for the marketers to make sure that
the targeted audience is convinced is by touching on some of the values that have been added to
the product and are essential to the needs of the customers. For example, if a marketer is
marketing natural products, he should insist on what the company has done to make sure that the
products are chemical free.
A salesperson plays a significant role in convincing the customers to buy, and it is for
this reason that he or she should dwell on the characteristics and specifications of the products
that meet the customer's needs. A buyer is not only attracted to fair or low prices, but he or she is
attracted by the value (Dr. Fanning, n.d). Therefore, the salesperson can influence the decision of
the customer by touching on the extra miles that the organization has gone to make sure that the
value of the product is enhanced thus meeting the needs of the customers. A customer is likely to
be moved by a valuable product, and therefore the persuasion of the salesperson might go a long
way to make sure that the customer purchases the product.
Task 3
The best way for Sam to influence the product component is by employing one of the
marketing strategies that he has been thinking of. Two options have been available for Sam to
use and the first is the reduction of prices and the second is the concentration of value during the
marketing campaign (Dr. Fanning, n.d). According to the case study, it is evident that the
competitors can beat Sam if he tries to reduce the price of the products and that would come with
other long-term effects. Therefore, for some to influence the product components, he has to

MARKETING CONSUMER BEHAVIOR 4
employ the strategy of emphasizing the aspect of quality, and this would come along with
different steps and measures. The first step would be to invest in equipping the marketing team
with skills that would enable them to sell the value of the product to the customers.
It is imperative to note that the approach that an organization takes when marketing a
product to the customer has an influence on how the customers accept the product and embrace
it. At the same time, the knowledge that is possessed by the marketing team is critical when it
comes to marketing the product (Dr. Fanning, n.d). it is for this reason that Sam needs to make
sure that the marketing team has been trained on how to convince the customers about the value
of the product and not only the price. The second step would be to overreach his marketing
boundaries. Reaching many customers is also a strategy that can help to win more customers thus
increasing the sales and profits.
Task 4
Fundamental to marketing is essential for any businesses, and it irrefutably impacts a
business positively especially when it comes to sales and profits. An organization that knows the
essentials of marketing is in the best position to increase its sales and profits. The reason for
stating so is associated with the psychology of the customers (Dr. Fanning, n.d). In marketing, an
organization looks for ways to convince the customers of the essence to use its products and
services. Marketing has proved to have a significant effect in persuading the customers to
purchase a specific product or service. In line with the case study, the essentiality of the
fundamental to marketing is evident, and this is because of the contemplations of Sam.
The only strategy that Sam thinks of in case to reach more customers and beat the
competitors is marketing. The only difference is that he considers some marketing strategies over

MARKETING CONSUMER BEHAVIOR 5
others. In this respect, it is evident that the only way Sam can increase profits is by having a
deeper understanding of marketing and employing the most effective marketing tools and
techniques. In the case of the e-book, it is evident that it talks of marketing as the tool that
attracts customers to the products of a company (Dr. Fanning, n.d). Marketing is the vice that is
used to communicate to the customers of the efforts of the company to make sure that the needs
of the customers are factored in the products or services. It is therefore evident that for a
company to increase its sales and profits, it has to understand and employ the most effective
marketing strategies.
Reference

MARKETING CONSUMER BEHAVIOR 6
Dr. Fanning, S. (n.d). The Marketing Concept [e-book]. Retrieved from
www.themarketingconcept.com