Free Essay

Needs and Wants Analysis

In:

Submitted By sadz987
Words 549
Pages 3
1.1 Dell Inc. Dell is an American multinational corporation which was founded by Michael Dell in the year 1984 based in Austin, Texas. Dell evolved on the basic principle of selling computers directly to the consumers. The company believed that this was the best way of fulfilling and understanding the needs of consumers in the most efficient manner, by providing customized computer solutions to meet individual needs. About 140,000 systems shipped per day, on average – that’s more than one every second to customers in 180 countries.
1.2 Apple Inc. Apple was founded on January 3rd, 1977 by Steve Jobs. It currently has 35,000 employees and has a worldwide annual sale of US $ 42.91 billion . Apple has established a unique image in the consumer electronics market with its philosophy of comprehensive aesthetics to distinctive advertising campaigns. Apple started out its business from selling personal computers and then expanded its product line by introducing laptops, mp3 players, mobiles, etc.
2 NEEDS AND WANTS ANALYSIS

2.1 Needs A need is a state of felt deprivation of some basic satisfaction. People require food, clothing, house to live in, safety, social needs, self-esteem needs and individual needs. Social needs may include a sense of belonging, affection, fun, and relaxation. Esteem needs include prestige, recognition and fame, while individual needs may include need for knowledge and self-expression. These needs are not created by their society or by marketers, but are basic to human existence. Marketing begins with the identifying of needs first, followed by the wants and demands. Many advertisements for hotels or restaurants promote fun, relaxation or prestige. Understanding needs is a basic requirement of successful marketing. The basic needs for which consumers require a laptop are:
 Computation work
 Mobility Traditionally, the computer was a big machine that could be used at one location only. Hence with the advent of laptops the basic need of consumers to be able to perform computation work while being mobile was met.

2.2 Wants Wants are desires for specific satisfiers of the deeper needs. When a typical Indian needs food, he wants chapatti, vegetables and rice; when he needs clothes he wants a dress according to the occasion e.g. if he wants to dress traditionally, he may want a pyjama-kurta, a female may wear a saree or salwar-kameez, when he needs self-esteem he may buy a Maruti Esteem or Hyundai Accent. These wants however may be different from that of an American or an Australian. Wants are shaped and attributed by one’s culture, individual personality, and social and environmental forces such as schools, business organizations, community, families, friend circle, religion etc. Marketers can influence the wants of people to a great extent. Like in every product, the consumer tends to WANT certain features or capabilities in addition to his basic needs. The wants of each consumer is not same. Some of the Wants of consumers for Instance in laptops are the following:
 Style (Aesthetics)
 Multimedia (Movies, Music, Photos, etc.)
 Internet Connectivity (Wi-Fi, Lan, modem, etc.)
 Documents storage – Hard Disk
 Video Chatting - Webcam
 Mobile connectivity - Bluetooth
 Peripheral Devices - USB slot
 Weight and screen size of laptop
 Games Playing Capability - Display / Screen resolution / Graphics Card
 Battery life
 Multi-Tasking - Good processor speed/RAM

Similar Documents

Premium Essay

Business Analysis Part I

...Business Analysis Part I Pamela Lewis Management 521 October 10, 2011 Dr. Melanie Brown Business Analysis Part I The company tasked a mutual fund manager to evaluation Apple Incorporated to determine if this would be a sound investment for the company. The mutual funds manager will conduct a business analysis on Apple Incorporated and present the recommendations to the company. Apple Inc. is a company known for its vibrant line of products and the innovation it brings to those products. A business analysis is the practice of diagnosing the needs of a business and establishing solutions to business dilemmas. This business analysis is simply a collection of information that will aid in deciding if Apple Incorporated has the stability to sustain a profitable portfolio. This analysis will include a SWOTT analysis, an evaluation of the company stakeholders and their needs and wants, and an explanation of how the company is fulfilling those needs. SWOTT Analysis Chart Strengths (Internal) | Weaknesses (Internal) | * Strong brand image provides and edge over competitors * Robust financial performance strengthens investors’ confidence and provides capital for future avenues * Focused Research and Development driving innovation and consolidating its market position | * Patent infringement lawsuit may affect financial condition and operating results * Product recalls may harm Apple’s reputation and add significant warranty and other expenses | Opportunities...

Words: 1705 - Pages: 7

Free Essay

Managing Change

...other phases in the change process communication is extremely important to success. It is important to communicate the processes that are running smoothly as well as those that are not quite working out as set forth in the original plan. This is a time where you can evaluate the processes that are not working and make necessary changes. Gap analysis is "a technique for determining the steps to be taken in moving from a current state to a desired future-state" (Businessdictionary.com). The gap is the space between the present state (where we are) and the target state (where we want to be). Analyzing the space between each of these will help accomplish set goals you have for your business or personal goals. There is always room for improvement within a business. The first step is to identify what the performance gaps are and if you want to improve them. A gap analysis will be implemented to establish the amount of changes that need to need occur. Establishing the current gap issues will allow you to monitor improvements closely and enhancing your business. You will need first to pick an area of performance that you want to measure. If you want to measure...

Words: 844 - Pages: 4

Premium Essay

5-Star Hotel

...capturing customer needs. Apply one of these 5 methods to your product/service 3. Identify customer requirements using the Kano analysis 5 methods including explanations. A completed example of the use of one method List of customer requirements/needs: minimum 10 WANT i i WANTs minimum 10 MUSTs minimum 5 DESIRABLEs Customer satisfaction Stakeholders and their expectations Service: Hotel                Guests Reliability Good i G d price Employees Compensation/ reward Job security Owners Profit P fit Solidity/Stability Contractors Good business relation Safety Suppliers Long term relationship Timely payments    Government: Compliance with regulations Human Safety    Competitors Information sharing I f ti h i Benchmarking    Advertisements companies Payments on time Adequate information    Communities such as city council. Social service Follow ethical conduct.    Share Holders Profit. Stability Customer satisfaction Tools for capturing customers needs   1. 2. 3. 4. 5. 6. 6 7. Service: Hotel Tools for capturing customers needs p g Customer surveys (Questionnaire) Focus group Customer Interviews Customer F db k F C t Feedback Forms Warranty claims Market research Benchmarking Customer satisfaction Questionnaire Template 0 Features Electrical Safety Overall Hygiene Variety of Restaurants y Swimming Pool Gymnasium and Health Centers Spa Interior Design Location (CBD) Not a need 1 Strongly disagree...

Words: 1819 - Pages: 8

Premium Essay

Cango Marginal Analysis

...Marginal Analysis CanGo wants to branch out and focus sales on other products other than books. They are taking on a lot of financial responsibilities that may not be worthwhile for the company. CanGo wants to make the online gaming venture successful and wants to venture into different types of online sales. Recommendation: #1. CanGo is in need of a marginal analysis. A marginal analysis would include economic view of how the company would spend its dollar. The analysis would also be able to show the company whether the money is being spent necessarily. It will also let CanGo know whether they are able to take on new business ventures. The marginal analysis will assist CanGo with analytical decision making. #2. By doing a marginal analysis this will help CanGo decide whether employee shifting would be feasible or whether they should hire new staff. Even though the company would not be able to determine the exact outcome of the decision, the analysis will give them a rough idea of what to expect. Cost Benefit Analysis CanGo has not currently had a cost benefit analysis done on the company. With a cost benefit analysis, it gives the company an analysis of a business decision that they are proposing. This will give them an idea on whether the company is financially stable to take on a new project or venture. The cost benefit analysis would include all costs associated with the new venture including warehousing fees and price that the product will be sold for. This is...

Words: 434 - Pages: 2

Premium Essay

5 Stars Hotel

...capturing customer needs. Apply one of these 5 methods to your product/service 3. Identify customer requirements using the Kano analysis 5 methods including explanations. A completed example of the use of one method List of customer requirements/needs: minimum 10 WANT i i WANTs minimum 10 MUSTs minimum 5 DESIRABLEs Customer satisfaction Stakeholders and their expectations Service: Hotel                Guests Reliability Good i G d price Employees Compensation/ reward Job security Owners Profit P fit Solidity/Stability Contractors Good business relation Safety Suppliers Long term relationship Timely payments    Government: Compliance with regulations Human Safety    Competitors Information sharing I f ti h i Benchmarking    Advertisements companies Payments on time Adequate information    Communities such as city council. Social service Follow ethical conduct.    Share Holders Profit. Stability Customer satisfaction Tools for capturing customers needs   1. 2. 3. 4. 5. 6. 6 7. Service: Hotel Tools for capturing customers needs p g Customer surveys (Questionnaire) Focus group Customer Interviews Customer F db k F C t Feedback Forms Warranty claims Market research Benchmarking Customer satisfaction Questionnaire Template 0 Features Electrical Safety Overall Hygiene Variety of Restaurants y Swimming Pool Gymnasium and Health Centers Spa Interior Design Location (CBD) Not a need 1 Strongly disagree...

Words: 1819 - Pages: 8

Free Essay

Training Needs Analysis

...Training Needs Analysis Lisa Coats-Birchett BUS 680: Training and Development Dr. Katie Thiry April 29, 2013 Abstract Training needs analysis is a systematic method for determining what caused performance to be less than expected or required (Blanchard & Thacker, 2010). When one thinks of training needs analysis, one wants to know what exactly the company needs for the future. There is a time and place to look at needed KSA’s and there is a need to look at performance levels and what they need to be and what training is needed. Then it is possible for them to decide what type of training they need and why. After it is decided what type of training needs the company has then the classes can be set up either with a classroom, online, e-training, or there can be one on one training or even a combination of those types of training. Once the classes are over with it is important for an evaluation to take place to make sure that the training was successful and for everyone to take a test and make sure they comprehend what was taught in the classes they took. If the training was not successful then it either needs to be retaken or they need to be retrained through a different type of training as each individual learns and comprehends in different ways. Training Needs Analysis There is sure to come a time in every organization when a training needs analysis will come into play. Training is something that is essential in every job in today’s society. It does...

Words: 2845 - Pages: 12

Premium Essay

Research Paper

...Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. Marketing strategy consists of the analysis, strategy development, and implementation activities in: “Developing a vision about the market(s) of interest to the organization, selecting market target strategies, setting objectives, and developing, implementing, and managing the marketing program positioning strategies designed to meet the value requirements of the customers in each market target”. Strategic marketing is a market-driven process of strategy development, taking into account a constantly changing business environment and the need to deliver superior customer value. The focus of strategic marketing is on organizational performance rather than a primary concern about increasing sales. Marketing strategy seeks to deliver superior customer value by combining the customer-influencing strategies of the business into a coordinated set of market-driven actions. Strategic marketing links the organization with the environment and views marketing as a responsibility of the entire business rather than a specialized function. Because of marketing’s boundary orientation between the organization and its customers, channel members, and competition, marketing processes are central to the business strategy planning process. Strategic marketing provides the expertise for environmental monitoring...

Words: 1157 - Pages: 5

Premium Essay

Sales and Marketing

...UNIVERSITY OF WEST LONDON UNIVERSITY OF WEST LONDON LONDON SCHOOL OF HOSPITALITY AND TOURISM LONDON SCHOOL OF HOSPITALITY AND TOURISM MODULE TITLE: SALES AND MARKETING FOR TOURISM, HOSPITALITY & LEISURE MODULE CODE TH50040E SUBMITTED TO: ERIC OHALLERAN SUBMITTED BY: RUPANDEEP KAUR STUDENT ID 21093387 Under the marketing research, customers and their needs and wants are main foci because marketing is all about individuals involving in it and is exchange process. It is social phenomenon that creates awareness among the customers about the products and services according to the needs and wants of customers (Kotler, 1995). The main motive of marketing research is to approach large number of customers and this can be achieved by satisfying their needs and wants. Marketing- an exchange process SALES AND PRODUCTS Seller Manufacturer Producer Seller Manufacturer Producer Customer Buyer Consumer Customer Buyer Consumer PAYMENTS Customer is that individual who has ability to buy and consume the goods and services. A customer is someone who gives something valuable to the company in the monetary form in return for something he gets from the company in form of goods (Blythe, 2008). Customers can be of two types; internal as well as external. An internal customer is someone who gets value from the company (Salary, payment etc.) and gives valuable service in return...

Words: 1715 - Pages: 7

Premium Essay

Marketing

...According to marketing concept, the organisation must find ways to discover unfulfilled customer needs and wants and bring products that satisfy those needs and wants. This can be done in a sequence of steps that is called marketing process. After reading this you will understand - what is marketing process, and the steps involved in marketing process. Meaning of Marketing Process The Marketing Process of a company typically involves identifying the viable and potential marketing opportunities in the environment, developing strategies to effective utilise the opportunities, evolving suitable marketing strategies, and supervising the implementation of these marketing efforts. Marketing process involves ways that value can be created for the customers to satisfy their needs. Marketing process is a continual series of actions and reactions between the customers and the organisations which are making attempt to create value for and satisfy needs of customers. In marketing process the situation is analysed to identify opportunities, the strategy is formulated for a value proposition, tactical decisions are taken, plan is implemented, and results are monitored. Steps in Marketing Process Following are the steps involved in the Marketing Process :- * Situation Analysis * Marketing Strategy * Marketing Mix Decision * Implementation and Control 1. Situation Analysis Analysis of situation in which the...

Words: 1046 - Pages: 5

Premium Essay

Johari Window Analysis

...Leadership skills and JoHari Window Analysis Keuka College Huicong Chen MGT-510-MI004 Leadership Professor Yang Zhao 12/09/2012 Table of contents Introduction---------------------------------------------------------------------------------3 Knowing themselves is the first step of leadership-------------------------------4 JoHari Window Analysis-----------------------------------------------------------------5 Open area--------------------------------------------------------------------------------5 Blind area---------------------------------------------------------------------------------7 Hidden area------------------------------------------------------------------------------7 Unknown area---------------------------------------------------------------------------8 My results of JoHari Window Analysis-----------------------------------------------9 How JoHari Window Analysis effect leadership skills----------------------------11 Conclusion----------------------------------------------------------------------------------13 Reference-----------------------------------------------------------------------------------14 Introduction Leadership is the relationship between leader and follower. And even more, leaders are leading people to do the right things. When leading others, the first biggest thing leaders should do is well known about themselves and their followers. Leaders also can strong their leading power...

Words: 2602 - Pages: 11

Free Essay

Smartink Marketing Plan

...Contents     Introduction  …………………………………………………………………………………………  page  3   Environment  Analysis  …………………………………………………………………………..  page  4   Customer  Analysis  ………………………………………………………………………………..  page  7   Competition  Analysis  ……………………………………………………………………………  page  11   STP  Analysis  ………………………………………………………………………………………….  page  13                                                                           2     Introduction   This   marketing   plan   has   been   written   for   the   Marketing   course   in   Católica   Lisbon   School   of   Business   and   Economics.   It   consists   of   a   study   for   the   launch   of   a   new   and   original   product,   called   Smartink,   as   well   as   a   proposal   for   a   commercial   plan  of  action.   Even  in  the  technological  era  we  live  in,  it  is  noticeable  that  people  still  do  a   considerable   amount   of   work   recurring   to   paper   materials,   and   not   just   electronic   devices  as...

Words: 2549 - Pages: 11

Premium Essay

Apple Business Analysis

...Runninghead: Apple Inc. Business Analysis |1 | | Apple Inc. Business Analysis Yvette Metzger Mgmt 521 September 12, 2011 Erick Espinosa |Apple Inc. Business Analysis |2 | Many companies in today’s market have become successful through a variety of investors. These investors supply in the businesses needs to fulfill that particular business and provide revenue and profits in the future. As a manager, a business is going to want to ensure all avenues of that business are updated and essentially active to their fullest potential. Many operations of technology are equipped by utilizing various methods to conduct future business decisions to determine their future profits and success. These methods include SWOT analysis, verification of stakeholders, and identifying wants and needs of a business. Of these companies, those that carry advanced modern technology tend to see the change in the market the quickest and yet have high returns. Apple Inc., a technology based company that manufactures professional software has achieved success since its start up with two entrepreneurs high school drop out students. Through many years of study, they developed an analysis that will compete against the technology industry. Apple Company, one of the highest US businesses known for their efficient products providing technology more advancement and capabilities...

Words: 2516 - Pages: 11

Premium Essay

Apple Business Analysis – Part I

...Apple Business Analysis – Part I Apple Business Analysis Apple Inc. is an American multinational corporation that designs and markets consumer electronics, software, and personal computers. Apple was established on April 1, 1976 by three (3) good friends: Steve Jobs, Steve Wozniak, and Ronald Wayne in Cupertino, California (http://en.wikipedia.org/wiki/Apple_Inc.) and incorporated on January 3, 1977 (http://investor.apple.com/faq.cfm?FaqSetID=6). The company has grown from a garage business to the largest publicly traded company in the world by market capitalization and the largest technology company in the world by revenue and profit. (http://en.wikipedia.org/wiki/Apple_Inc. In the mid 1970s Wozniak created the Apple 1 and Apple II which contributed significantly to the microcomputer revolution of that era. Some of Apple’s greatest known hardware products include Macintosh line of computers, the iPod, the iPhone, and the iPad. In this paper I will share Apple’s mission, conduct a SWOT analysis, identify Apple’s internal and external stakeholders, describe Apple’s wants and needs, explain how Apple is fulfilling their needs, and conclude with whether or not I would invest in Apple Inc. Apple’s Mission Statement According to the Investor Relations section on Apple’s website their mission statement states the following: “Apples designs Macs, the best personal computers in the world, along with OS X, iLife, iWork, and professional software. Apple leads...

Words: 1277 - Pages: 6

Premium Essay

Business Etiquettes in France

...Case Analysis Sun Medical Systems, INC Table of Contents Summary 2 1. Situation Analysis 2 2. Problem Analysis 3 3. Decision Analysis 5 A. Maintain Status-quo 6 B. Move to a different department or organization 6 C. Verify her stories and then decide the next course of action 6 Plan of Action 7 A. Prepare for the crucial Conversation 7 Summary The objective of the case analysis to apply the SA-PA-DA-PA (Situation Analysis, Problem Analysis, Decision Analysis and Plan of Action) framework to find out the right course of action for Shabana Jabeen of Sun Medical systems. Shabana feels frustrated and stagnated at her job in spite of her division doing exceptionally well and her contributions to the growth of the division are widely acknowledged by the Management. The case analysis has been structured in 4 sections as per the SA-PA-DA-PA methodology. Situation Analysis Situation analysis is defined as a process that examines a situation, its elements, and their relations, and that is intended to provide and maintain a state of situation awareness for the decision maker. A situation analysis defines and interprets the state of the environment of a person or organization and provides the context and knowledge for planning. Examining Shabana’s situation we come across the following facts – I. Shabana has been a top student and an exceptional...

Words: 1677 - Pages: 7

Premium Essay

Apple Inc

...It’s a known fact that the best way to access a company’s performance is by conducting a swot analysis; and by so doing, one can access the strengths, weaknesses, opportunities and threats facing the company. The company I will like to look at is Apple Corporation. Upon researching this company, I came up with the following swot analysis Strengths Apple has a very smart marketing strategy and capitalizes on the shortcomings of other similar software company’s products by offering other hardware programs to resolve such frustrations encountered by users. Apple’s products set high standards for the market as a whole, these they do achieve by focusing much on their product development. Also the brand name (Apple), is a powerful source of identity. In one word, the Apple brand name conveyed the exact same values as those which had driven them to revolutionize computer science. Clearly, the brand name had in itself all the necessary ingredients to produce a major breakthrough and establish a new norm. Lastly the product designs are shapened in a way that best suites consumers’ lifestyle. Example is the iPhone having a few buttons and fits perfectly into the palm. The products sleekness and simplified functions gives Apple an edge over its competitors. Weaknesses. I researched and read a biography about the company’s CEO Steve Jobs and realized that he is being described as a very demanding and controlling individual. The company is very proprietary and controlling, not giving...

Words: 1177 - Pages: 5