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What is the Difference Between Customer Wants and Needs in a Market?
Melanieclaudia
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∙ 10y ago
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5 reasons for merger?
Five reasons for a merger include Capital, satisfy customer needs, gain talented staff, new market opportunities and product development
Does marketing improve business performance?
Yes, marketing helps businesses attract customers. The more customers market products that meet customer's needs, the more they will generate revenue.
Is it essential that business market managers recognize which prospective Customer firm is having a buying orientation?
It is very essential to have a buying orientation because customers are the ones who have to purchase the product produced by the firm. The new product and market strategies stress on the need for making the product which fully reflects the customer's tastes and needs. The buying decision is an important decision and reflects many environmental factors which needs to be understand by the production team and marketing managers if they really want to be competitive and profitable in the industry.
What is the market oriented?
My starting point is: Does the "Market orientation" of an organization hinge on the desire to offer quality services, or offer its products in an environment of optimized service quality? I believe any organization that has benefited from learning the market needs- will view market orientation from the standpoint of a high feedback rating in customer satisfaction not just maximized sales or maximized profits. There is thus always a danger that the latter view is short-termist in nature. But again once an organization exists and has invested in the production of goods and services, it must make money or profits to stay a float. Hence it must sell its offerings whether the intrinsic or associated customer-satisfaction offerings are wanting. This may then result in a sales orientation policy(maximizing sales). This genre of business approach needs not be long-termist. A market orientation then needs to be more accommodating, it must of necessity push sales and customer satisfaction in equal measure in order to be assured of long term relevance and success. I welcome opinions. Elias Leo Atambo MBA ESAMI / MAASTRICT Business Schools; e-mail:aphtl2005@gmail.com
What is the market needs?
Let's say you want to buy a do-dad. You go to the store, but there are no do-dads. The market for do-dads has a need as you want one, but none are available. So, "The market needs" someone to supply do-dad's so you can buy them.
What are Barnacles in the market environment?
Long-term customer with limited fit between company's offering and customer needs.
What is Difference between pure market and command economies?
In a market economy, resources are allocated to the production of goods and services on the basis of decisions made by individual businesses anticipating customer needs and desires. The communication
What is the difference between customer needs and customer expectations?
the differenece is that customer needs mean when they need stuff or help with doing something, but a customer expectation is when the customer has everything and dont need help with anything like a customer need!.
Difference between mass market and niche market?
Mass market is when business targets general consumers (the majority) in the market with general needs. Niche market is when business targets a small group of consumers with specific needs in the market.
What is the difference between customer service and sales?
the difference between customer service and sales is: in customer service you should be listening to your customer and be able to relate to anything they say or do, you should be able to help and understand the customer and know their needs. In sales your job is to be able to pitch anything to anyone whether they like or need it.
What is the difference between sales and service?
the difference between customer service and sales is: in customer service you should be listening to your customer and be able to relate to anything they say or do, you should be able to help and understand the customer and know their needs. In sales your job is to be able to pitch anything to anyone whether they like or need it.
What is the difference between a market-oriented sales oriented and a production oriented organisation?
Marketing Oriented: Company focus primarily on customers needs and wants based on reliable data. Sales Driven Companies: The main objective is sales and customer's needs are competely ignored
What is the difference between product oriented and market oriented?
Production orientation means producing product according to the goods acts and here is the seller king. and market orientation means producing the product according to the customer wants needs to satisfy them in order tho achieve the organizational goals
What is meant by term value-driven?
It is a market driven by reasonable market prices that satisfy the needs of the customer.
Why do you need to understand what the customer needs are?
Understanding customer needs will help you define new market opportunities and drive innovation and revenue growth in every aspect of your organization.
Difference between customer Perception and expectation?
Differentiate between Customer Perception and ExpectationThe difference between customer expectations and customer perceptions. Customer expectation is what the customer expects according to available resources and is influenced by cultural background, family lifestyle, personality, demographics, advertising, experience with similar products and information available online. Customer perception is totally subjective and is based on the customer's interaction with the product or service. Perception is derived from the customer's satisfaction of the specific product or service and the quality of service delivery. The customer gap is the most important gap and in an ideal world the customer's expectation would be almost identical to the customer's perception.In a customer orientated strategy, delivering a quality service for a specific product should be based on a clear understanding of the target market. Understanding customer needs and knowing customer expectations could be the best way to close the gap.2) the difference between the customer's expectations of the service provided and the company's provision of the service. In this case, managers are not aware or have not correctly interpreted the customer's expectation in relation to the company's services or products. If a knowledge gap exists, it may mean companies are trying to meet wrong or non-existing consumer needs. In a customer-orientated business, it is important to have a clear understanding of the consumer's need for service. To close the gap between the consumer's expectations for service and management's perception of service delivery will require comprehensive market research
Why it is important to match customer needs with the product?
for existence in business and improve market share
