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Customer value is at the heart of every successful marketing strategy. It refers to the perceived benefit a customer receives from a product or service compared to the cost they invest—whether that’s money, time, or effort. In today’s competitive market, customers are not just looking for features; they seek meaningful solutions to their problems. By highlighting how a product improves their life, solves a challenge, or delivers a unique experience, businesses can attract and retain loyal customers. Creating and communicating strong customer value builds trust, encourages repeat purchases, and even allows brands to command premium pricing. Ultimately, when customers feel they are getting true value, they are more likely to choose your product over others—and become long-term advocates for your brand.
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Identification of customer need in product design?
Identification of customer needs in product design involves understanding the preferences, pain points, and desires of the target audience. This can be achieved through methods such as surveys, interviews, and market research, which help gather insights into what customers value most. By analyzing this data, designers can create products that not only meet functional requirements but also enhance user satisfaction and loyalty. Ultimately, aligning product features with customer needs is crucial for successful product development and market acceptance.
Differences between product market and generic market?
The generic product-market includes a broad group of products that satisfy a general, yet similar, need. The starting point in determining product-market boundaries is to identify the particular need or want that a group of products satisfy. Since people with a similar need may not satisfy the need in the same manner, generic product-markets are often heterogeneous, containing different end-user groups and several types of related products.The product-type product-market includes all brands of a particular product type. The product type is a product category or product classification that offers a specific set of benefits intended to satisfy a customer's need or want in a specific way. Differences in the products within a product-type product-market may exist, creating product-variants.
Why the need for marketing after production there is the need to market your product after production to be able to create the necessary awareness of the product now on the market for sale?
there is the the need to market your product after production in other to create the necessary awareness of the product now on the market and to keep inform both new and existing customers of the product.
What is concept of product mix?
A firm's product mix is the complete set of all products offered. The product line is an assorted group of items that the consumer would think is similar. For example, Pampers and Proctor and Gamble sell a lot of hygiene products. Their product mix would consist of the full range of individual items: diapers, wipes, Gillete’s razors, Head & Shoulders Shampoo, Vics Cough and Cold relief.
What do the customer of kFC need or want?
kfc need or want product
What do companies need to do to achieve total customer satisfaction?
A organsation can conduct a market resarch using questionares to see if customer are satisfed with product that the campany had offered
Differences between product market and generic market?
The generic product-market includes a broad group of products that satisfy a general, yet similar, need. The starting point in determining product-market boundaries is to identify the particular need or want that a group of products satisfy. Since people with a similar need may not satisfy the need in the same manner, generic product-markets are often heterogeneous, containing different end-user groups and several types of related products.The product-type product-market includes all brands of a particular product type. The product type is a product category or product classification that offers a specific set of benefits intended to satisfy a customer's need or want in a specific way. Differences in the products within a product-type product-market may exist, creating product-variants.
What are the problem faced in determining the demand for a durable goods illustrate with example of demand for households refrigerator or television set?
The demand for a new product. A market survey of customer need analysis of sales records of competing products. The basis for making an estimate or a prediction of a new product can be used from a comparable product
Why the need for marketing after production there is the need to market your product after production to be able to create the necessary awareness of the product now on the market for sale?
there is the the need to market your product after production in other to create the necessary awareness of the product now on the market and to keep inform both new and existing customers of the product.
Advertising sales plan?
You will want to analyze your market first and decide which vehicle is best used to reach that market. As far as a sales plan, you will need to decide how many points of sale there will be for your organization and focus on bringing the customer to those points of sale. If your main focus is on the sales, then your advertising will need to convey the product, it's value, and incentive.
What is concept of product mix?
A firm's product mix is the complete set of all products offered. The product line is an assorted group of items that the consumer would think is similar. For example, Pampers and Proctor and Gamble sell a lot of hygiene products. Their product mix would consist of the full range of individual items: diapers, wipes, Gillete’s razors, Head & Shoulders Shampoo, Vics Cough and Cold relief.
What do the customer of kFC need or want?
kfc need or want product
How do you successfully close the sale with the customer?
It is not easy to close the sale with the customer but this is big challenge to us. During transaction we educate the customer about our product/service. We give an information and benefits of product/service to customers. Aside from that we need to offer additional promo for product/services to customer to become interested. Last is we need to convince to customer to buy the product/service.
What factors are considered in the process of need identification for developing a new product?
Factors considered in the process of need identification for developing a new product include market research, customer feedback, competitor analysis, technological advancements, and economic trends. These factors help companies understand the demands and preferences of consumers, as well as potential gaps in the market that can be addressed with a new product.
In the product market is purchased by households?
Items and products are purchased by households. These items need to have some value to the household or they will not purchase them, no matter the cost.
Why is warranty important?
Customer favour: It is important to get satisfactory product based on need Company Favour : For maximum sale of products in competitive environment and maintain the good reputation in market.
What is a test used for?
To Know the maximum or the quality of from that product. From the customer of course need information about the product and the company product must know how get they product, that why they need speed test
