Understanding Customer Needs
Stretch and Challenge; Give examples to support your answer
Key Terms
Marketing is the functional area of a business which is concerned with identifying and satisfying customer needs
Market Segmentation is the method of separating a market up into smaller customer segments. For example, separating the clothing market into gender and/or age groups.
Marketing is the functional area of a business which is concerned with identifying and satisfying customer needs
Market Segmentation is the method of separating a market up into smaller customer segments. For example, separating the clothing market into gender and/or age groups.
Information
There is no one product that meets the needs of all customers. Businesses will create a portfolio of products to meet the needs and wants of a range of different customers. For example a range of frozen lasagne.
There is no one product that meets the needs of all customers. Businesses will create a portfolio of products to meet the needs and wants of a range of different customers. For example a range of frozen lasagne.
Information:
> Customers have a number of different requirements i.e. they are looking for different benefits.
> Customers have differing amounts of money they are able / willing to pay.
> Customers will want different quantities of goods.
> Customers are looking for different quality of goods
> Customers may wish to purchase their goods at different times or locations.
> Customers have a number of different requirements i.e. they are looking for different benefits.
> Customers have differing amounts of money they are able / willing to pay.
> Customers will want different quantities of goods.
> Customers are looking for different quality of goods
> Customers may wish to purchase their goods at different times or locations.
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Plenary Task
Watch video opposite and discuss how customer needs were not fully met... |