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Customer needs
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Every successful business starts with customers. If you know what they need, you can sell them something they will actually buy.
What customers need
Customers usually care about four things:
Price: can they afford it, and is it good value?
Quality: does it work well and last?
Choice: is there a range to pick from?
Convenience: is it easy to buy and use, at the right time and place?
Price: can they afford it, and is it good value?
Quality: does it work well and last?
Choice: is there a range to pick from?
Convenience: is it easy to buy and use, at the right time and place?
Why it matters
Understanding needs helps a business generate sales: people buy products that suit them.
It also helps the business survive: a business that ignores what customers want will lose them to competitors.
It also helps the business survive: a business that ignores what customers want will lose them to competitors.
Needs change
Needs are not fixed. Busy lives make convenience more important; tighter budgets make price more important.
Businesses use market research to keep up, and adapt their products when needs change.
Businesses use market research to keep up, and adapt their products when needs change.
A café near a train station opens at 6am and sells breakfast to take away. Which customer need is it meeting most?
- Commuters are in a hurry.
- Early opening and takeaway make buying quick and easy.
Answer: Convenience
Customer needs: price, quality, choice and convenience. Meeting them generates sales and helps the business survive. Needs change, so businesses must keep checking them.
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