What is the concept of needs in consumer marketing?
Target Audience & Competition are the next components to be addressed as part of the process of developing a Comprehensive Strategic Marketing Plan. To choose an appropriate target market, one must understand how consumers make purchase decisions.
In a 5-6 page report to your colleagues, Research then discuss the concepts of "needs" and how these needs fit within the stages of the consumer behavior model.
Summarize how you would apply the above discussion to your product/service`s target market and the competition. Note: even though you have "created" a product or service, it makes sense to research real companies and products that might be considered competitors.