Consumer behavior theory to develop a sound marketing plan for a Essay

Consumer behavior theory to develop a sound marketing plan for a hypothetical product or service - Essay Example This maximum capacity of plant production especially if the demand is high cannot completely compete with other paint producing company. This remains one of the big challenges of the company that it takes into consideration at present time. Aside from continuing innovation of its products, Paint X Corporation continuous to aim for strong market penetration. Although situated in London, Paint X Corporation is providing quality paints in the international market. It is in this regard that the market segmentation variables are needed to be analysed based on the international level. Paint X Corporation is supplying paints across Europe, Asia and through out the entire world. Based on this consideration, it cannot be denied that the company’s consideration of its segmentation variables is a bit complicated. Everything needs to be designed based on a universal approach on geographic, demographic, psychographic and behavioralistic consideration. On geographic consideration, various competing paint manufacturers in Europe are good reasons to create more innovative quality paints. This is clear when cost of raw materials was considered in order to compete with multinational companies (Renart and Pares, 1991). The world is such a huge market. Around 6 billion people today are living in the world (Sheffield, 1998). This is a potential mark et considering that these people need shelter and quality way of life. Paints are part of visual effects. Visual effects are said to influence people’s perceived usability, satisfaction and pleasure (Moshagen and Thielsch, 2010). Colors from paints bring decorative appeal (Smith et al., 2003). Paints are used everywhere and this only implies higher significant acceptance of these products. Maslow believed that humans have five hierarchies of needs and these are physiological, safety, social, esteem and self-actualization (Robins and Timothy, 2010). In the event that the first need is substantially satisfied,