9919 20 Consumers Needs Not all needs are readily expressed There are latent

9919 20 consumers needs not all needs are readily

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9/9/1920Consumers’ Needs• Not all needs are readily expressed. • There are latent needs. • One product may satisfy different needs for different people.What are consumers’ needs?Maslow’s Hierarchy of Needs
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9/9/1921What are consumers’ needs?Maslow’s Hierarchy of NeedsServe Consumer Needs§Consumers may not know what they want & what can be madeConsumer needs can be “created”Identify what consumers needDesign product to satisfy needs$$$$$Some people say, “Give the customers what they want.” But that's not myapproach. Our job is tofigure out what they're going to want before theydo. I think Henry Ford once said, “If I'd asked customers what theywanted, they would have told me, 'A faster horse!’” People don't knowwhat they want until you show it to them… Our task is to read things thatare not yet on the page. ―Steve JobsEducate & persuade consumers$$$$$Create a product that consumers will want
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9/9/1922Understanding Consumers’ Needs• Customers have such needs that motivate their behavior. • They have needs before the existence of specific products: We would be hungry even if McDonald would not exists, we would be thirsty even though Coke was never created.• Understanding customer needs is crucial for modern marketing : A company does not sell a product but a benefit that satisfies a customer’s need.What do consumers need?
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9/9/1923What do consumers need?What do consumers need?
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9/9/1924How much would you be willing to pay for a paper bag?$290Vasari
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