A study on customer perception and demand for LCD projectors
- Introduction to marketing
- Key concepts of marketing
- Needs and wants
- Organizational concepts to carry out the marketing activity
- Product life cycle
- Industry profile
- Objectives of the study
- Data collection methods
- Data analysis and interpretation
A market consists of all the potential customers sharing a particular need or want who might be willing or able to engage in exchange to satisfy that need or want.
Thus, the size of the market depends on the number of people who exhibit the need or want, have resources that interest others, and are willing and able to offer these resources in exchange of what they want. Traditionally, a ?Market' was the place where buyers and sellers who transact over a particular product or product class, hence the housing market, the clothing market etc.
Marketing is the process that facilitates the exchange of valuable products created and is offered to consumers so as to satisfy their needs, wants and demands.
The starting point of any marketing activity is the human needs and wants, we as human beings, need certain basic necessities like air, food, water, clothing and shelter. These need ensure our survival. Beyond these basic needs we aspire to have good education, some recreation, and would like to have certain services. Basic human needs exist in the biological condition of the human beings.
[...] A period of rapid market acceptance and substantial profit improvement. Stage III- Maturity This is the longest stage in the life of the product. I t is very challenging stage. As most of the products are at maturity stage, most of the marketing management addresses itself to the mature product. Stage IV- Decline Most of the products show decline in sales ultimately primarily because of a number of new products begin their own life cycle, and replace old products. Industry profile History Early Innovations Sam Runco has been an innovator in the large screen projection business since early 1970's, when his projectors first displayed the Runco name. [...]
[...] Conclusion: LCD projectors have entered the market few years ago and have become very popular among the consumers hence it has a negligible market share. LCD projectors are an excellent technology and a boon to various to various companies. LCD projectors will definitely have a good improvement in future. With the various types of interviews, observations and analysis during the course of the study a lot of problems from all the angles were identified. Compatible suggestions are given based on the information gathered during the study. [...]
[...] Market size is thus given by the Persons having particular needs/wants and who are ready to exchange their resources for want satisfying products. Marketing Management: Marketing management is the process of planning and executing the conception; pricing; promotion and distribution of goods services and ideas to create exchange with target that satisfy customer and organizational objectives. Organizational Concepts To Carry Out The Marketing Activity Few of the common competing concepts are as follows: The production concept The product concept holds that consumers will favor those products that offer the most quality, performance or innovative features. [...]