Marketing focuses primarily on customer needs, since customer needs are the underlying force for making purchasing decisions. These needs can be categorized as follows: Stated needs: what customers say they want; for example, “I need a sealant for my window panes for the winter.” Real needs: what customers actually require; for example, a house that is better insulated and therefore warmer during the winter. Unstated needs: requirements that customers don’t happen to mention; for example, an easy solution to insulating the house. Delight needs: the desire for luxuries, as compared to real needs. Secret needs: needs that customers feel reluctant to admit; for example, some people may have a strong need for social status but feel uncomfortable about admitting that status is important to them.
Consumer Behavior Archive
I am fascinated by the Appreciative Inquiry concept, not only because it sounds cool, but I have seen it working (unlike many other business strategies) in real business scenarios. I am afraid, B Schools often miss out on such business strategies which are very practical to implement. It wasn’t taught to me while I was in my management strategy class, however, over conversations with friends, I realized this can work wonders. Here is a small story! Back in the 1980s there was a low budget hotel, Omni Hotel. A hotel known for their pathetic service and no customer used to visit them, once experienced. The staff fought terribely with each other and service was awful, the cleaners weren’t motivated to clean the hotel regularly. Finally, the new manager invited
Not so old Twitter account Amrutanjan Relief (@WuhooRelief) is now ensuring to provide Relief and homemade remedy solutions to people suffering from Cough, Cold or Sore Throat. I am glad to see a brand using twitter for what it should be used for; engagement. I came across this interaction. In so less time they have developed substantial followers, made number of tweets and have had meaningful interactions with people on twitter. Most importantly they have build a great fan following for them. Rather than just posting links and RTs, Amrutanjan brand behaves more like a friend who cares about your health and asks, “How are you feeling?”. Strangely, isn’t selling its products in every tweet unlike other brands but spending time and effort in enquiring
Theodore Levitt proposed the idea of Marketing Myopia. Now who he is/was isn’t important, but what he has jargonized is! The theory states that marketers should look towards the market and modify the company and products accordingly rather than looking towards own company and its potential. The needs of the market should receive first priority. He asks an interesting Question, if Hollywood were into television rather than movies, wouldnt it have profited more? And later proves how there is more money is into television. Thus, if hollywood would have catered to the television market, they would have earned more. And Theodore levitt’s marketing myopia theory has turned right as hollywood has entered television with renowned movie maker twentieth century fox as well as sony televisions and other channels. Marketing
Marketers around the world know it very well that when it comes to household purchasing decisions, it is the mothers who love to drive the car. In fact, experts say that in United States moms spends about $2.1 trillion per year which is roughly 15% of the country’s economy. Many of the top executives of the leading FMCG companies have conceded that in order to reap rich rewards they need to understand the language of the moms and connect with them successfully. But something is definitely wrong somewhere. A recent survey has revealed that close to 70% of the moms feel that the companies are not doing enough for them. They feel that TV advertisements are not much focused on moms and hence they feel