Course Hero 8

Course Hero 8 - 1). Stated needs (The customer wants an...

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2. Distinguish between the five types of needs humans require.          Needs  describe basic human requirements such as food, air, water, clothing, and shelter. People also have strong needs for recreation, education, and entertainment. These needs become wants when they are directed to specific objects that might satisfy the need. An American needs food but wants   a hamburger, French fries, and a soft drink. A person in Mauritius needs food but wants   a mango, rice, lentils, and beans. Clearly, wants are shaped by one’s society. A company can carefully define its target market yet fail to correctly understand the customers’ needs. Clearly, understanding customer needs and wants is not always simple. Some customers have needs of which they are not fully conscious; some cannot articulate these needs or use words that require some interpretation. We can distinguish among five types of needs:
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Unformatted text preview: 1). Stated needs (The customer wants an inexpensive car.) 2). Real needs (The customer wants a car whose operating cost, not its initial price, is low.) 3). Unstated needs (The customer expects good service from the dealer.) 4). Delight needs (The customer would like the dealer to include an onboard navigation system.) 5). Secret needs (The customer wants friends to see him as a savvy consumer.) Responding only to the stated needs may shortchange the customer. Many consumers do not know what they want in a product. Consumers did not know much about cellar phones when they were first introduced, and Nokia and Ericsson fought to shape consumer perceptions of them. Simply giving customers what they want isnt enough any more to gain an edge companies must help customers learn what they want....
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This note was uploaded on 08/29/2011 for the course ECON 530 taught by Professor Smith during the Spring '11 term at Berklee.

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