Marketing Management. Peter Drucker Essay Example | Topics and Well Written Essays - 750 words

merchandise Management. Peter Drucker - Essay ExampleAccording to Maslows hierarchy of needs buyers needs vary from physiological to self-importance actualization. A product like car, is required to fulfill the needs like social needs and lever needs. Brand image and value plays a very crucial role as a decider in fulfilling such needs. Buyer behavior is deeply rooted in psychology guided by dashes of sociology. A product is therefrom priced, placed, promoted depending upon the kind of market the company envisages for the product. A company like Nissan will therefore give more thought to the needs of its customers within its most potential markets. Nissan envisions Enriching peoples lives, while working with a mission statement stating, Nissan provides unique and innovative automotive products and services that deliver superior measurable determine to all stakeholders in alliance with Renault. A brand like Nissan also brings with it the qualities like reliability and prestige, w hich forms the upshot of making buying decisions. In todays market driven economy, the role of media and promotion has also become very crucial. With increasing competition and decreasing profit margins, a balanced market communication campaign forms the back-bone of companys marketing strategy.Nissan Motor Company Limited (Nissan) is engaged in the planning, developing, manufacturing and selling of passenger automobiles, automobile parts, and forklifts. Companys potential markets ar Japan, Canada, Australia, the US, Mexico, New Zealand, South Africa, Middle East and some parts of Asia. North America accounted for 43.5% of its total revenues in the fiscal year 2006, while Japan, Nissan Motors largest geographical market, accounted for 28.4% with Europe accounting for 15%. Therefore, over the old age, the company has true an expertise in understanding the buyer behavior of these two markets in general. Company was established in 1933 to manufacture and sell small Datsun passenge r cars and auto parts. It is headquartered in Tokyo, Japan. In the annual ranking of pass 100 global brands by BusinessWeek and Interbrand in 2006, Nissan figured at the 90th position. The company may non be quite upbeat with this ranking because, its ranking has come down gradually over the years with more competitors entering into the fray thanks to the globalisation and liberalization of economies. The value of brand is equally consequential in influencing the buyer behavior and providing a winning edge over the competitors. The Nissan brand was valued at $3,108 million in 2006. However, the companys position continues to be threatened by rising raw material prices, which could adversely impact its operating margins. Innovation with regular inputs from R&D is another feature for influencing the buyer behavior, as it helps the company in taking care of the growing needs and concerns of customers and the environment. It is an established fact that needs of consumer trammel cha nging over time. Todays society has also become more caring for the environment and theres a growing concern for preserving the ecological balance by way of minimizing the pollution and using less harmful fuels to alimentation the ozone layer intact. This calls for continuous inputs into Research and Development activities. Nissan motors has the distinctive advantage of being in the top 50 organisations1 having invested in R&D activities. Incidentally, amongst the top 50