Ask Question
BusinessBusiness
13 August, 15:27

Why should businesses understand the buying motives of their target market?

+4
Answers (1)
  1. 13 August, 15:56
    0
    Buying motives are the inner drives in customers that push them to buy a product or a service. They are the needs and wants that customers strive to satisfy by purchasing goods or seeking services.

    Explanation:

    Understanding the buying motives of a target market is essential to a business because of the following reasons.

    The motivate will guide the business in its product planning and developments. Motives influence supply and pricing policies. Motives form the basis for marketing and promotional activities. Buying motives determine products distribution channel.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Why should businesses understand the buying motives of their target market? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
On September 1, 2020, Pina Corporation acquired Kingbird Enterprises for a cash payment of $690,000. At the time of purchase, Kingbird's balance sheet showed assets of $570,000, liabilities of $230,000, and owners' equity of $340,000.
Answers (1)
What is the most common threat to information security in an organization?
Answers (1)
A company is in its first month of operations. The company pays total salaries to its employees of $600 per day. For the first four weeks of January (28 days), the company paid its employees $16,800 cash.
Answers (1)
Macroeconomics is the study of how individuals, households, firms, and governments make choices, while microeconomics is the study of the economy as a whole. b.
Answers (1)
Pam didn't go see the movie IT because her friends all said she wouldn't be able to handle it. When she found out how good it was, she blamed her friends. Pam is demonstrating an internal locus of control. True / False.
Answers (1)
New Questions in Business
Used to access a list of sales and expense transactions A customer in the Sample Company A vendor in the Sample Company Matching a banking transaction with a QBO transaction Bank deposits not yet recognized Bank charges not yet recognized Exist for
Answers (1)
A company expects the following sales for the coming year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units 50,000 40,000 70,000 90,000 Average selling price $6 $6 $6 $8 Budgeted sales revenue for the year is: a.$1,050,000. b.
Answers (1)
Tangshan China Company's stock is currently selling for $80.00 per share. The expected dividend one year from now is $4.00 and the required return is 13 percent.
Answers (1)
18. What was a major factor in the failure of (mostly) command economies? A. Lack of voting rights B. Lack of the profit motive C. Not enough military spending D. Abundant basic goods
Answers (2)
You are saving to buy a $188,000 house. There are two competing banks in your area, both offering certificates of deposit yielding 7.3 percent.
Answers (1)
Home » Business » Why should businesses understand the buying motives of their target market?
Sign Up Forgot Password?