Final answer:
To market a product to someone who isn't the end user, one should ensure full information is provided and understand the needs of all stakeholders. Providing warranties, quality certifications, and considering long-term use are effective strategies.
Step-by-step explanation:
To effectively market a product when the buyer is not the end user, one must understand the motivations and needs of the actual purchaser. For successful transactions, full information about the product's price and quality is essential, as a market reaches equilibrium with this clear communication. When faced with imperfect information, ways to reassure a possible buyer include providing comprehensive product descriptions, offering warranties or guarantees, and showcasing endorsements or certifications that vouch for the product's quality. These strategies can help bridge the gap caused by imperfect information, enabling sellers to match their products with buyers' requirements and ultimately satisfy the end user's needs.
Moreover, while marketing, it is crucial to consider the needs of various stakeholders involved in the lifecycle of the product. For example, a car must satisfy not only the consumer but also regulators and others in the supply chain. Understanding these multifaceted needs can lead to a product design that is broadly appealing and adaptable to change, such as shifts in consumer tastes or lifecycle events. Sellers should also be aware of the effects of continuously altering product designs to maintain market competitiveness, which may lead to consumer dissatisfaction or market volatility.