CUSTOMER NEEDS
Values & 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?”
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 values 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
At the same time, a
company could lose a lot of profits and values, if it misses customer needs,
for example;
- Other
competitors could lead this market
- Minimize
sales and profit margin
- Decreasing
in market share, and then moving out from the market
- Opportunity
cost
REAL CASES FOR APPLYING MARKET RESEARCH
- 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.
CUSTOMER NEEDS – Values
& Pains
This project is aiming to
understand the real needs of customer and human behavior in each industry.
Therefore, the project will serve customer and their needs resolving their pain
“Finding and Filling needs”.
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;
BEYOND THIS PROJECT
The following are some additional
benefits 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
ABOUT EXCPR™
EXCPR™
Consultancy and Business Management – Strategic Consultancy
Vision
The
first strategic consultancy firm in the world
Mission
To
support decision maker
Products
and Services
1.
Market Research
·
Customer segmentation
·
Customer needs and behaviors
·
Market size and Market share
2.
Set Strategies
·
Values, Vision and Mission
·
Companies capability and direction
·
Tactics
3.
Planning and studies
·
Business plans
·
Long and short term objectives
·
Business model and Methodology
4.
Measurement and Control
·
Balanced Scorecards
·
Six Sigma
5.
Management
·
Project Management
·
Business Management
CONTACT US
EXCPR™
Consultancy and Business Management
P.O. Box 21407 Safat 13075
Kuwait
Sharq, Ahmed Aljaber Street, CBK
Building, Level 6
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