Opening Date: Nov 10, 2017
Due Date: Nov 16, 2017
Topic: “Customer Needs and Demands”
To enable students identify the consumer needs and learn the ways of satisfying them being future marketers.
After attempting this activity, students will be able to learn different marketing strategies for each particular need or demand of the customers.
The Fashion House is a renowned clothing brand in India. It deals with semi-formal and formal dresses and also a range of bridal wears. Seeking the opportunity of a huge market of bridal wears in Pakistan, the company decided to launch a bridal wear collection in Pakistan according to the ongoing trend of traditional bridal dresses with a modern touch. The company seeks to target the upper middle and upper class. The collection consists of bridal dresses, wedding dresses, and party wears. As the company has never done any business in Pakistan before, it seeks to get information about customer needs and demands of the targeted segment. To help understand customer requirements, CEO of the company wants to identify and target all the types of need (i.-e Stated, Real, Unstated, Delight and Secret).
Being a student of marketing, identify and explain how the company can satisfy all the five needs of the targeted segment with respect to the company offering. (1*5)
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It is not always simple. It is difficult to correctly ascertain. A customer says. ‘I want an inexpensive car’ what is he saying? He wants a car that is not expensive. So he needs a car but not expensive compared to his income. Needs are
a. Stated need (an inexpensive Car)
b. Real need (wants a car which is lower in maintenance)
c. Unstated need (he wants a strong car)
d. Delighted need (he wants a road map of his country)
e. Secret need (he wants image in that car)
These are the series of his Need. Marketing job is to respond to all his needs. Marketers provide solution in the shape of responsive marketing, anticipative marketing and creative marketing.
Selling Concept Marketing Concept 1 Focuses on the suppliers need to convert his product to cash and considers satisfaction. Focuses on the needs and wants of the customers and channels supply efforts to satisfy them. 2 Concerns itself with the sale of existing products to ensure a high volume of sales. Identifies the needs of the market and achieves sales by developing products to satisfy these needs. 3 Profits results from high volume of sales. Derives profit by creating and maintaining customer satisfaction.
Before you start promoting your business you need to know what your customers want and why. Good customer research helps you work out how to convince your customers that they need your products and services.
The first step of customer research is identifying your customers. Your market researchshould help you understand your potential customers. Further customer research can help you develop a more detailed picture of them and understand how to target them. It will also highlight key characteristics your customers share, such as:
Once you've identified who your customers are, you can find out what motivates them to buy products and services. For example, consider if they make decisions based on:
As well as understanding why they shop, you will also want to understand how they shop. To learn about your customers' preferred method and means of shopping, consider if they:
Different types of customers will be willing to spend different amounts. Find out what financial capacity and spending habits your customers have. For example, consider:
Learn about your customers' views and expectations of your business and rivals. For example, find out what they think of your: