Customer Needs PDF

CUSTOMERS ENGR. RENZBENHAR O. BOBADILLA CUSTOMERS Customers play the most significant part in business. Customer is the actual boss in a deal and is responsible for the actually profit for the organization. Customer is the one who uses the products and services and judges the quality of th...

CUSTOMERS ENGR. RENZBENHAR O. BOBADILLA CUSTOMERS Customers play the most significant part in business. Customer is the actual boss in a deal and is responsible for the actually profit for the organization. Customer is the one who uses the products and services and judges the quality of those products and services. It is important for an organization to retain customers or make new customers and flourish business. Types of CUSTOMERS LOYAL CUSTOMERS These types of customers are less in numbers but promote more sales and profit as compared to other customers as these are the ones which are completely satisfied. These customers revisit the organization over times hence it is crucial to interact and keep in touch with them on a regular basis and invest much time and effort with them. Loyal customers want individual attention and that demands polite and respectful responses from supplier. DISCOUNT CUSTOMERS Discount customers are also frequent visitors but they are only a part of business when offered with discounts on regular products and brands or they buy only low-cost products. More is the discount the more they tend towards buying. These customers are mostly related to small industries or the industries that focus on low or marginal investments on products. Focus on these types of customers is also important as they also promote distinguished part of profit into business. IMPULSIVE CUSTOMERS These customers are difficult to convince as they want to do the business in urge or caprice. They don’t have any specific item into their product list but urge to buy what they find good and productive at that point of time. Handling these customers is a challenge as they are not particularly looking for a product and want the supplier to display all the useful products they have in their tally in front of them so that they can buy what they like from that display. If impulsive customers are treated accordingly then there is high probability that these customers could be a responsible for high percentage of selling. NEED-BASED CUSTOMERS These customers are product specific and only tend to buy items only to which they are habitual or have a specific need for them. These are frequent customers but do not become a part of buying most of the times so it is difficult to satisfy them. These customers should be handled positively by showing them ways and reasons to switch to other similar products and brands and initiating them to buy these. These customers could possibly be lost if not tackled efficiently with positive interaction. WANDERING CUSTOMERS These are the least profitable customers as sometimes they themselves are not sure what to buy. These customers are normally new in industry and most of the times visit suppliers only for confirming their needs on products. They investigate features of most prominent products in the market but do not buy any of those or show least interest in buying. To grab such customers, they should be properly informed about the various positive features of the products so that they develop a sense of interest. CUSTOMER NEEDS CUSTOMER NEEDS Customer needs are the named and unnamed needs your customer has when they come in contact with your business, your competitors, or when they search for the solutions you provide. Methods to Identify Customer Needs 1. FOCUS GROUP Focus groups are a market research technique in which you collectively interview a small group of people who represent your target audience. 2. SOCIAL LISTENING Social media listening is the process of tracking and analyzing what is being said about your company or industry on social channels. 3. KEYWORD RESEARCH Keyword research can also give you valuable insight into what your customer needs from you, your business and your product. If you know how your customers are searching online and more importantly how they are searching for your company and industry, you can determine what they’re looking for. Once you’ve done your research, you can channel it into creating a product or service that better aligns with those needs. Types of CUSTOMER NEEDS PRICE Price is how much a business charge for its product or service. Customers want a fair price when purchasing a product or service. Usually, low prices will draw in many customers, although people ultimately want value for money. It is important for a price to match the quality of the product or service that the business is selling. QUALITY Quality relates to the standard of the product or service being offered. Customers always expect some level of quality, no matter how much they pay for a product or service. Generally, those paying a low price will expect a lower level of quality and those paying a higher price will expect a higher level of quality. CHOICE Choice is very important – many businesses have a range of products and/or services available to suit different groups of customers. Customers have different needs and desires when buying items. They might want different styles or sizes, or even completely different products altogether. CONVENIENCE Consumers want convenience and are often willing to pay more for it. Convenience relates to something being easier, quicker or generally less hassle for customers. How to meet Customer Needs 1. IDENTIFY – Identify what your customers need from you through keyword research, focus groups, or social listening. 2. DISTRIBUTE - Distribute the information to relevant stakeholders in your organization. 3. CREATE - Craft product features or create content that speaks to your customer’s needs. 4. COLLECT - Collect customer feedback on how your efforts meet their expectations.  Why is it important to meet customer needs?