Identifying And Understanding Customers Flashcards
Definition of marketing
The process of identifying and satisfying customer needs profitably
How to identify customer needs and wants
- Suggestion box
- Questionnaires
- Focus Groups
- Interviews
- Complaints procedure
Advantages of suggestion boxes
A really good way to find out customers needs as they have time to sit and write how they feel
Customers get an opportunity to put forward practical suggestion for changes
Customer is satisfied that their views are being heard
Disadvantages of suggestion box
Maybe an opportunity for an unhappy customer to discuss their problem
Business may change what does not need changing
Minority view
Advantages of questionnaires
Very economical way of finding out customer needs
Data is up-to-date, the business can find out how customers are currently reacting to the products
Results can be compared with similar data over time
Disadvantages of questionnaires
Customers are bombarded with surveys all the time and may be annoyed at getting another one
Customers often do not fill out surveys because of privacy concerns, they worry they are being tracked through their data
Advantages of Focus Groups
Quite a cheap method which card is lots of data about how customers feel about the product
Customers can relax and chat about the product, helped by a moderator
Disadvantages of focus groups
May be hard to persuade people to take part
Views of small numbers of customers may not be the views of everyone
Advantages of interviews
Quite a cheap method which card is lots of information about how customers feel about the product
Customers can relax and chat about the product, helped by a moderator
Disadvantages of interviews
May be hard to persuade people to take part
Views of small number of customers may not be the views of everyone
Advantages of complaints
Help the business to see if there is a pattern of complaints with a certain product
Can help to identify if staff need more customer service training
Disadvantages of complaints
Few customers take the time to complain
Only getting opinions of unhappy customers
Views of small numbers of customers may not be views of everybody
What is market orientation
A business needs to provide products and services that customers will buy
Advantages of market orientation
If a business identified by the customers want and then provided in a quality product they were increase sales
Increased sales should lead to increased revenue and profits
What is marketing mix
Marketing mix is a term used to describe a combination of marketing tactics used to achieve business objectives
