Marketing Strategies – Midterm
1. The five types of customer needs are: Stated needs, Real needs, Unstated needs, Delight needs and Secret needs. Define each and give an example for each.
Stated needs are wants that are expressed by the customer while shopping for a product or service. An example of a stated need is when a customer wants to buy a two-bedroom condo.
Real needs are the underlying needs of those that are stated. In the case of the customer that wants to buy a two-bedroom condo, they want a condo that is convenient with regards to proximity to work, friends, family and sources of activity.
Unstated needs are expectations that a customer associates with the product or service they are shopping for in which the
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There are several ways in which a company is able to conduct marketing research. Some of these ways are more expensive than others, but if I were in charge of marketing research for a small company that didn’t have the necessary budget for an extensive research project, I would approach it in the following three ways: 1. Utilizing the internet – The internet has the answer to anything at just a Google search away. A company can use the internet to see how their competitors’ website is set up compared to their own and what consumers are discussing about yours and your competitors company via chat rooms, blogs and forums. The internet is a wealth of information and it is available at a minimal cost. 2. Engaging top MBA students to design and carry out projects – This is not only a great way to get some additional sets of eyes on a specific marketing situation facing a company, but it is also available at the cost of just experience and visibility for the MBA students involved. 3. Focus Groups – I would lastly consider running a series of focus groups. This is a great way to test different ideas to resolve a specific marketing situation facing a company. Based on the results of the focus groups, you are able to determine a direction for the marketing plan at yet another minimal cost.
5. What is Customer-perceived value (CPV) and give an example of when the value of a product or service did not match the cost you paid
There is a difference between customer wants and needs. Customer wants are based on how the customer wants to be treated when wither coming into our office or ringing us up. A want is a desire for products or services the client wishes for. Knowing and understanding customer needs is main
In this assignment I am going to produce report which identifying the expectation of client for my chosen organisation which Tesco and I will link the expectation of client to the organisation and the method they use to provide the Services and meeting the needs and expectation of the customers.
*Question 11. 11. (TCO 4) Consumers have needs for living and wants, which are desires and to know them helps businesses to meet market demands. From the following list, identify which combination is just needs, or just wants. (Points : 5)
IDENTIFIED AND EXAMINED THE NEEDS AND EXPECTATIONS OF CUSTOMERS, COLLEAGUES, STAKEHOLDERS AND RELEVANT OTHERS IN THE WORKPLACE.
1. Give examples of needs, wants, and demands that FedEx customers demonstrate, differentiating these three concepts.
Customer recognizes that they have an unfulfilled need or want (Grewal, p. 175). The need/want may be either psychological or functional (Grewal, p. 176). The
Understanding customer needs (including examples of 3 different customers and 1 need for each, and explain how you would prioritise conflicting needs)
9) Explain how to deal with different customer behaviours and personalities to achieve customer satisfaction.
Identify the opportunities, to monitor how well the company is doing and understand how marketing works overall.
When Quiksilver announced the start of its women line Roxy in 1990, they defined the brand as a “fun, bold, athletic, daring and classy” brand for young women. Market segmentation is a crucial marketing strategy and Roxy utilizes the four bases that are commonly used for segmenting consumer markets including geographic, demographic, psychographic, and benefits sought segmentation. The geographic segmentation is ideally unlimited for the Roxy target market because the brand offers clothes for both warm and cold weather, however, it focuses mainly on the “beach lifestyle” and is generally more popular in beach towns. The demographic segmentation of the Roxy brand, is aimed to attract young women between the
Marketing plays the most important role for the success of a business. In this chapter, the business’ marketing objectives are laid out together with the plans or actions that will be needed to achieve these objectives. Furthermore, this chapter includes the profile of the respondents which aided the researchers to create this part of the feasibility study.
1. Give examples of needs, wants, and demands that JetBlue customers demonstrate, differentiating these three concepts. What are the implications of each for JetBlue’s practices?
In my opinion, those five components can be summarized on their resources. Customer orientation has
In general terms, marketing is all related to the places of buying and selling of goods and services to satisfy customers’ needs. Nowadays marketing is the most important issues for success of every business marketing is the activity, set of institution, and process for creating, communicating, delivering, and