Customer Needs brochure - Benefits & Pains

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CUSTOMER NEEDS Benefits & Pains

“As per research demonstrate that when customer contact companies for service, they care most about two things; is the frontline employee knowledgeable? And is the problem resolved on the first call?”

BUSINESS DIRECTION

“Find out a target market segment where we might enter the market in which we offer the customer clear and compelling benefits, or- better yet- resolve their pain, at a price it is willing to pay?”

The main objective of this project is to find out the Psychological and Functional benefits for the customer. Therefore, the project will serve customer and their needs resolving their pain “Finding and Filling needs”.

INTRODUCTION

Customers have their own specific needs and special requirement in each certain market and industry. Therefore, the modern competitors are continuously looking to find out such needs – in term of customer’s benefits and pains – and then apply such wants. For example, the customer in Kuwait may require such specific criteria on a product, which is more valuable to them comparing with other global region.

The idea behind initiate such product, is to follow the Marketing modern methodology which is “customer derives market”. Thus, a company can achieve and satisfy the following benefits by applying such project;

Improve sales, by developing and creating products

Maximize the profit margin, by saving capital and resources, satisfy customer segmentation and specialty

Leading the market and setting standards

Grow competitive advantages

Market growing rate, by setting the current targeted customer

TYPE OF NEEDS

The customer needs can be divided and classified into different types such as,

Functional needs – Tangible, such as Faster, Cheaper, Material quality, etc

Emotional needs – Intangible, such as Personal image, Respects, Acceptable, etc

Values, adding some unsaturated criteria

Pain, solving customer problems

Available, as it may be provided by other competitors

Unavailability, as for creating a new product or development

Continuously, some customer needs should be available during the year

Partial, while other should be available in some times

METHODOLOGY AND APPROACH

The company is aiming to contact 5 - 7% of the total end user market -through different approaches and ways, such as;

Survey (Calls, Documents and On-line ), Understanding customer size, customer satisfaction, customer thinking, ..etc.

One- on –One Interview , Understanding the customer needs and requirement, by lessening to their pain. Also this method will allow understanding the customer feedback and their suggestions for developing a product.

Observation – PR, Efficient tools for evaluating customer emotions and trends, beliefs and behaviors.

Focus Group Research, Generating ideas and needs

Experimental Research, Finding the customer requirement and pain

REAL CASES FOR APPLYING MARKET RESEARCH

iMod’s success in the wireless market is an example of how important it is to have a product offering clear and compelling benefits to carefully target market. In just two years, the company becomes the most widely used mobile internet service in the world.

Hero Honda – Agreement between Hero Cycles of India and Honda Motor Corporation – won 5 Million customers and 40% average annual growing sales within 4 years.

Whole Foods customers forked out an average of USD 826 per square foot, comparing with the market average of USD 487 per square foot.

EMC overtook its competitors, becoming the data storage leader, with a 41% market share, up from just 5% three years earlier.

BEYOND THIS PROJECT

The following are some additional benefits to a company after receiving such project

Developing uniquely appealing products and services

Develop marketing campaigns and pricing strategies

Extracting maximum value from customer’s data

Development of tailor made packages for different sections of customers

Recommended segmentation

Evaluate competitors products and services

Voice and insight of customer

Customer satisfaction index –CSI

Customer persuasiveness

Initiate marketing tactics and strategies

Saving resources by improving focus

Related topics

Customer Surveys

Market Segmentation

Market Size & Market Share

EXCPR™ Consultancy and Business Management

P.O. Box 21407 Safat 13075 KUWAIT

Sharq, Ahmed Aljaber Street, CBK Building, Level 6

Tel:   +965 229 71156

Fax:  +965 224 78734

Mob: +965 600-excpr (600 - 39277)

Email: info@excpr.com

Website: www.excpr.com

Twitter: @excpr

www.facebook.com/excpr