Background: TechnoGiz is a startup specializing in high$-$tech consumer electronics. The company has recently developed a new smartwatch, TechnoWatch, which features advanced health$-$tracking capabilities, seamless integration with smart home systems, and a sleek design. TechnoGiz plans to launch TechnoWatch in a competitive market with several established players, including big brands like Apple and Samsung.

To differentiate TechnoWatch, TechnoGiz's marketing team has been working on a comprehensive marketing strategy to understand customer behavior and make an impact on potential buyers. The team is now at a critical stage where they must assess the importance of marketing management and analyze customer behavior in depth.

Tasks:

What role does marketing management play in the success of TechnoGiz's new product launch, and how can it help the company differentiate TechnoWatch from its competitors?

In what ways can TechnoGiz utilize the marketing management framework to create a strong market position for TechnoWatch?

Describe the three phases of the purchase process that a typical consumer might go through when deciding to purchase TechnoWatch. How can TechnoGiz tailor its marketing efforts to each phase?

Distinguish between the types of purchases that consumers might make for personal use of TechnoWatch versus business customers purchasing it for their employees. What marketing strategies could be effective for each segment?

How do factors such as sensation and perception, emotions, motivation, and attitudes influence the purchase decisions of customers considering TechnoWatch? Provide examples of how TechnoGiz could leverage these psychological factors in its marketing campaigns.

Requirements:

This assignment should be between $2-3$ pages. Your analysis will be considered complete, if it addresses each of the $5$ components outlined above.

Use of proper APA formatting and citations. If supporting evidence from outside resources is used those must be properly cited. A minimum of $3-5$ sources $($excluding the course textbook$)$ from scholarly articles or business periodicals is required.

Include your best critical thinking and analysis to arrive at your justification.