Customer Needs and Wants

In: Business and Management

Submitted By rosli
Words 718
Pages 3
Achieving Excellence: How to Truly Understand and Fulfill Customer Needs, Wants, and DesiresBy Mark Hamister, CEO, The Hamister Group, Inc. My vision of how to lead a company has always been based on three principles: know your product; understand your customer; and don’t accept mediocrity.Knowing your product is the easiest of the three, although we all have encountered plenty of sales and management staff who don’t. These people need to practice MBIWA (Management by Interacting and Walking Around) and |
understand their products from the front line. I advise my management staff to get out onto the floors, talk to people in every department, and learn how each part of the product works. I stay in my hotels as a guest and take my spouse with me for a woman's perspective. After learning every aspect of our properties, we then take great care to avoid falling into the trap of fixating on our products so intensely that we can’t see them through our customers’ eyes.Most companies view customer needs, wants, and desires from their own perspective or try to guess at them. This is unfortunately the case with people who know their products exceptionally well: they can’t see them from any vantage point but their own. Our team prides itself on asking customers what their needs, wants, and desires are. We actively listen to our guests and base our product strategies on their responses. For example, we recently asked some of our extended-stay guests about their hotel expectations: they answered that they wanted a clean room, a pleasant bathing experience, a comfortable night’s sleep, and a hassle-free, secure environment. They also told us that we already fulfilled these needs. So we asked what we more we could do to improve their experience. These guests spend a lot of time away from their families. What they most desired was a better way to have more contact with…...

Similar Documents

Business Need

...Business Need Kudler Fine Foods wants an application designed to send out a monthly newsletter and coupons using demographic data from the customer database. The internal stakeholders that would be affected by the newsletter and coupons is the organization's staff. The staff would have to know the contents of the monthly newsletter and also what coupons are being sent out. The customers and suppliers would be affected as the external stakeholders. The customers will receive the newsletter along with coupons, encouraging the sale of promotional goods. The suppliers would be affected because the promotional goods would have to be available from them. Kudler would not want promotional goods unavailable. The risks of designing an application to generate a monthly newsletter and coupons for Kudler Fine Foods is minimal. The initial cost of the application would be recouped from the increased sales from promotional items. Depending on the media used, email or letter mail, to send customers the newsletter and coupons, there would be a very minimal monthly cost after the initial application cost. The newsletter and coupons would also function as marketing and advertising for the organization. The application will utilize the demographic information stored in the customer database in order to generate the monthly newsletter and coupons. The coupon details will be controlled by the purchasing manager. The coupons will be tracked at point of sale in order to determine the...

Words: 333 - Pages: 2

Customer

... and individual customized relationships. Both modalities suggest the fact that consumers’ loyalty towards the company may be preserved only by knowing their needs and, if possible, by elaborating individual solutions. The structural level is the most difficult to imitate and it involves both structural and financial, social and customized relationships between customers and the company. Structural relationships are designed in such a manner so as to offer the customer services especially designed for it. Upon presenting strategies for preserving consumers, one must state another aspect, as well: the company must express its appreciation, satisfaction and gratefulness for its relationships with the consumer. By rendering the promised service and by thanking to the consumer for requesting the company’s services, the latter may build long term relationships. References: 1. 2. 3. 4. Cetina I., Odobescu E. – “Strategii de marketing bancar”, Ed. Economica, Bucuresti, 2007; Chirita, N. –“ Politici si strategii ale tranzitiei, Analiza modelelor”. Ed. Economica, Bucuresti, 2004; Zeithaml V., Parasuraman A., Berry L. – “ Delivering Quality Services”, The Free Press, 1990; Harrison Tina – “ Financial Services Marketing”, Prentice Hall, 2000; 206 ...

Words: 2695 - Pages: 11

I Want a Wife

...Anonymous In the 1970 essay "I Want a Wife", by Judy Brady, The author effectively showed her message, Brady was a women, underappreciated and fed up with it The author wanted to express some resentment in what men expect of women a wife. There is a somewhat humorous tone to the way Brady sends that message in her writing, No person could fit the model of wife she illustrated, Brady shows that she and other wives are somewhat robbed of things, that men take for granted. Brady writes this essay in a first person point of view. She is writing as the man who wants a super wife. She makes a list of the responsibilities that a typical woman from the 1970's would have. According to Brady "If by chance I find more suitable as a wife than the wife I already have, the author states “I want the liberty to replace my current wife with a new one." That is a clear of how Brady feels she and other women are treated unjustly. In the 1970's it was an era that marriages strongly reflected what Brady was trying to say. In that time I think that the essay was calling out, she is a wife and wants to show other wives that they aren't the only ones fed up with the system of marriage. The author states "I belong to that classification of people known as wives. I am a wife. And, not altogether incidentally I am a mother." I think she just wants people to know that she wants to reverse roles. I don't think in today’s society that this is as much an issue as when Brady wrote this essay. While...

Words: 487 - Pages: 2

Need

...Neymour Athletic Track Club Freeport Oil Company Ltd. Queens Highway Freeport (242) 352-6771/2 RE: Sponsorship for travel, Neymour Athletic Track club Dear Sir/ Madam I am Joseph Simmons and I am the head coach for Neymour Athletics Track Club. We (Neymour Athletic Track Club) are a non-profit organization whose primary objective is to cultivate and develop young athletes within our area and track club to become the athletes of the future. Our club has at least 50 boys and girls coming from various backgrounds and schools and they have competed in various track events. Each year our club participates in a State event and this year is no different. Neymour Athletics Track Club will be traveling and participating in a track Meet that will be held in Orland Florida from July 6th thru 17th 2013. Our Goal is to raise $6,000. We will be most grateful if you would help sponsor our athletes as the expense of maintaining the Club is much greater than one might expect. For example, the cost of travel, food, transportation and accommodations, during meets are a significant expense. These expenses in conjunction with other miscellaneous expenses exceeds what we receive in registrations. In addition, our sponsors and fundraisers aide those athletes whose parent’s financial limitations prohibit them from participating. We work with the parent (s) to provide some measure of aid so that all who want to participate can. We rely on the support of individuals and......

Words: 323 - Pages: 2

Need Statement

... staff is small and there are many adult, college, and school age volunteers. There is always the challenge to provide new and exciting activities and programs that will enhance the children’s attention. The society we currently live in is a pre-internet era where many homework assignments require the use of a computer. The internet helps children with researching information used to complete homework assignments. For parents it is an avenue of keeping track of the progress of children’s academic prowess without waiting for progress reports or open school nights. It is also an avenue for seeking employment and skill improvement. Computers help to extend the reach for many while also opening avenues that would otherwise be closed. St. Ann’s already has a room with one computer in it this room can be transformed into a computer lab this room is big enough to house 10-15 computer stations. Adding a computer lab will be an advantage to the community as a whole and since St. Ann’s have a positive reputation with its donors it will make it easy to ask for help with this program. The computer lab will ensure that these children will have a chance at changing his or her future. Technical change has the potential to help millions of people in their daily battle to survive. New and improved technologies, which women and men living in poverty can use in ways which are appropriate to their context and needs, can: •Expand and improve their livelihood options •Increase......

Words: 846 - Pages: 4

Need Help

... newsletter will be treated as a program and as both an expense center and a revenue center. As part of the planning and budgeting processes, NRCC wants to determine the program’s fixed costs, variable costs, and BEP. NRCC plans to hire a part-time (ten hours per week) social work student to be the newsletter coordinator in charge of compiling the contract and grant information and preparing, printing, and mailing the newsletter. The salary of the newsletter coordinator (a fixed cost) will be $5,000 for the year. The newsletter coordinator’s salary is a fixed cost because it does not vary depending on the number of newsletters produced. The unit cost of printing and ISBN: 0-536-12114-1 Financial Management for Human Service Administrators, by Lawrence L. Martin. Copyright © 2001 by Allyn and Bacon, a Pearson Education Company. Differential Cost Analysis 137 mailing six bimonthly issues of the newsletter (the variable costs) is estimated at $4 per subscriber per year. The printing and mailing costs are variable costs because they will vary depending on how many newsletters are printed and mailed. In order to simplify this first case example, agency indirect (overhead) costs are excluded. The tentative price of the newsletter is set at $12 per year. The executive director of NRCC uses this information and the BEP formula to compute the BEP (Table 10.1). Given the fixed costs ($5,000) and the variable costs ($4) involved and the tentative subscription price of $12,......

Words: 6743 - Pages: 27

Established Companies Such as Coca-Cola and Mcdonalds Do Not Need to Waste Profits on Advertising as They Already Have a Vast and Loyal Customer Base.

...Established companies such as Coca-Cola and McDonalds do not need to waste profits on advertising as they already have a vast and loyal customer base. Student ID: 0080379103 Student Name: Jing SUN Word count: 1639 The role of advertising in the developments of brand image and brand extension in established companies. Utilizing advertising in a most effective and efficient way is always a concern in most companies, as advertising requires a costly investment in both capital and human resources, which in return is expected to create positive outcomes. With a large volume of consumers and brand loyalties created in established, some argue that advertising can be merely a waste of money. While this idea addresses two major outcomes of conducting advertisement, attracting potential consumers and building brand loyalty, it ignores other contributions, for example, brand extension and brand image building, that could be enhanced by advertising in established companies. This essay will illustrate the reason why advertising is required in established companies, focusing on how appropriate advertising may contribute to developing brand extension and enhancing brand image. First of all, the informative function and social function of advertising will be interpreted. The following sections will demonstrate why large companies should focus on building up brand image and developing brand extension and how advertising contributes to these two dimensions. Then, the negative...

Words: 2040 - Pages: 9

Customer

...A-H: LEAD GENERATION. Lead generation describes the marketing process of stimulating and capturing interest in a product or service for the purpose of developing sales pipeline. Lead generation often uses digital channels, and has been undergoing substantial changes in recent years from the rise of new online and social techniques. In particular, the abundance of information readily available online has led to the rise of the “self-directed buyer” and the emergence of new techniques to develop and qualify potential leads before passing them to sales. The buying process has changed, and marketers need to find new ways to reach buyers and get heard through the noise. Instead of finding customers with mass advertising and email blasts, marketers must now focus on being found and learn to build continuous relationships with buyers. Lead generation is the process of making contacts which may lead to a sale or other favourable outcome. The leads may come from various sources or activities, for example, digitally via the Internet, through personal referrals, through telephone calls either by the company or telemarketers, through advertisements, events, and purchase of lists of potential customers. I-P: CUSTOMER LIFECYCLE Customer Lifecycle Management, or CLM is the measurement of multiple customer related metrics, which, when analysed for a period of time, indicate performance of a business. The overall scope of the CLM implementation process encompasses all domains or...

Words: 808 - Pages: 4

Customer Need: a Key Element for the Success of Company

...Customer Need: A Key Element for the Success of Company As Doyle (1994, p.39) mentioned, consumers can choose the product they want that makes the competitors try to attract more consumers from each other. It suggests that customers play an important role in marketing. If a company wants to win the competition, it might need to put consumers at the first place, meet the needs of consumer more effectively (Doyle, 1994, p.39). The famous article ‘Marketing Myopia’ written by Levitt (2004) suggests that the production of a company should based on consumer needs is what marketing tries to do. Disregard of consumer needs may makes the company face some challenges and hard to win in the market. However, emphasizing too much on current needs of consumers would not necessarily be a good thing. This essay discusses the challenges an organization may faced both not focus on consumer needs and focus too much on consumer current needs. First of all, it is probably not easy for a company to access the market especially the foreign market if its products can not meet consumer needs. As one of the Fortune Global 500, the fourth-largest retailer in the US, Home Depot failed in Chinese market that closed all its 12 stores in 2009, because Chinese regard buying a house as a way to store wealth, there is no need for them to decorate the house (Gao, 2003). Best Buy Co. closed its 9 outlets in China in 2011, because they found that what Chinese consumers need is washing machines rather...

Words: 1336 - Pages: 6

: Established Companies, Such as Coca Cola and Mcdonalds Do Not Need to Waste Profits on Advertising as They Already Have a Vast and Loyal Customer Base.

...Your name: Title: Established companies, such as Coca Cola and McDonalds do not need to waste profits on advertising as they already have a vast and loyal customer base. I. Introduction | | A. Background | Advertising plays an increasingly important role in business. However, some famous companies do not willing to spend profits on advertising. | B. Thesis statement | Disagree. I believe it is better to spend a certain amount of profits on advertising. | II. Main argument 1 | It can be beneficial to those companies directly. | C. First supporting point | Expand new market | 1. First detail | * Advertising is the most efficient way of communicating price advantages to a large numbers of people.( John Nielsen,1974) | 2. Second detail | * Promote new products. | D. Second supporting point | Maintain consumer loyalty on a long-term basis. | 3. First detail | * build up strong identity. | 4. Second detail | * | E. Third supporting point | To be more competitive. | 5. First detail | * Established companies still have strong competitors eg McDonalds vs KFC Coca Cola vs Pepsi Cola | 6. Second detail | * advertising can be more valuable for firms in a competitive environment .( Ganesh Iyer,2005) | F. Fourth supporting point | | 7. First detail | * | 8. Second detail | * | G. Fifth supporting...

Words: 366 - Pages: 2

Do Businesses Need to Invest in Creative Thinking If They Want to Be Successful?

...Assignment: Referenced essay Lecturer(s): Ronald Tierney & Adam Walford Question: Do businesses need to invest in creative thinking if they want to be successful? Student name: Phan Si Bao Cuong Student ID: L9920929 Date: 4/7/2013 In the business world today, creative thinking is one of the most indispensable elements that involve in whether companies can attain success. There is no doubt that thinking differently has brought many advantages to the success of businesses. Creativity can be defined as an ability people use to produce fresh ideas (Mattiske 2010). Bills and Genasi (2003) go further and suggest that people should force themselves to throw the traditional way of thinking away to form new ideas or even unique method to alter their future. The quality of products can be improved if inventiveness is boosted in office. Steve Jobs states that applying attractive ideas and new technologies to the process of doing business can help companies develop and flourish. This essay will support the opinion that businesses should have some funds in motivating innovation and creativity by analyzing these benefits which have been mentioned above based on the success of two big corporations, Sony and Apple. One key point is that the value of products can be enhanced if creative thinking is promoted in the workplace. If business owners encouraged their staff to think differently, this could result in the competition between employees so they try to produce new ideas that...

Words: 976 - Pages: 4

Need Answers

...INTRODUCTION TO POWER FACTOR Your hometown community-owned services provider WHAT IS POWER FACTOR? Low Power Factor in your facility can increase your electricity costs, reduce electrical distribution capacity, cause sluggish motor performance and increase the frequency of voltage drops. That’s why it is important to understand what power factor is and what you can do to improve it. Power factor is an energy concept that is related to power flow in electrical systems. To understand power factor, it is helpful to understand three different types of power in electrical systems. Real Power is the power that is actually converted into useful work for creating heat, light and motion. Real power is measured in kilowatts (kW) and is totalized by the electric billing meter in kilowatt-hours (kWH). An example of real power is the useful work that directly turns the shaft of a motor. Reactive Power is the power used to sustain the electromagnetic field in inductive and capacitive equipment. It is the nonworking power component. Reactive power is measured in kilovolt-amperes reactive (kVAR). Reactive power does not appear on the customer billing statement. Total Power or Apparent power is the combination of real power and reactive power. Total power is measured in kilovolt-amperes (kVA) and is totalized by the electric billing meter in kilovolt-ampere-hours (kVAH). Wyandotte Municipal Service provides generation...

Words: 859 - Pages: 4

Need Help

...1. Liza needs to buy a textbook for the next economics class. The price at the college bookstore is $65. One online site offers it for $55 and another site, for $57. All prices include sales tax. The accompanying table indicates the typical shipping and handling charges for the textbook ordered online. Shipping method Delivery time Charge Standard shipping 3–7 days $3.99 Second-day air 2 business days $8.98 Next-day air 1 business day $13.98 a. What is the opportunity cost of buying online instead of at the bookstore? Note that if you buy the book online, you must wait to get it. The opportunity cost of buying the book online instead of in the store would be that the student must wait for the shipping, b. Show all of the relevant choices for this student. What determines which of these options the student will choose? 2. In August 2007, a sharp downturn in the U.S. housing market reduced the income of many who worked in the home construction industry. A Wall Street Journal news article reported that Wal-Mart’s wire-transfer business was likely to suffer because many construction workers are Hispanics who regularly send part of their wages back to relatives in their home countries via Wal-Mart. a. Which of the principles of economy-wide interaction best describes this situation? b. Using this principle, describe the chain of links that best explains how reduced spending for U.S. home purchases is likely to affect the performance......

Words: 327 - Pages: 2

Want to Learn

...Student Name | | Abdulrahman Redwan | 1316429 | A Global Perspective of Human Resources For Dr. Ali Alkahtani Human Resources: A Global Perspective Employee engagement and cultural issues have become the first challenge facing HR professionals around the world, according to the 2015 Global Human Capital Trends report, released by Deloitte. The report concludes, “Today’s HR challenges require a new playbook—one that helps make HR more agile, forward thinking and bolder in its solutions.” The report says today’s organizations are facing a new world of work that will require a reshaping of strategies for leadership and talent management. Because culture is the driving force in most organizations, engagement and retention strategies need to be responsive to these changes. However, more than half of survey respondents said their organizations have poor programs or no programs at all in place to gauge or bolster engagement levels. Other issues uncovered by the report include a global lack of leadership succession programs, with only 10 percent of respondents saying they have an “excellent” program in place, and the need for a complete makeover of most HR departments. Only 5 percent believe their organization's performance is excellent, with 22 percent saying their department is adapting to their workplace’s changing needs . What is happening in HR in 2011? Are we going to see a shift in the way that HR managers are recruiting employees...

Words: 1349 - Pages: 6

Need Help

... repeat attendance). The term ‘marketing’ can be used to describe three different sorts of thing at one and the same time. It can refer to a way of thinking, a defined management task or a set of tools for turning thinking into action. Figure 2.1 The matching concept. The core concern of marketing is finding and using the links between organisation and customer to bring about a swap. The organisation's: • capabilities • offerings • products and services Products, goods or services Potential customers': • needs • wants • desires Payment or some other indication of satisfaction 12 ‘The central idea of marketing is of a matching between a company’s capabilities and the wants of customers in order to achieve the objectives of both parties.’ Malcolm McDonald (1999) Indeed this purpose is based on a recognised management model that tends to be referred to as ‘the matching concept’ (see Figure 2.1). what it stands for. So marketing can be used to encourage involvement with an organisation in the form of both consumption and participation. • And that a key set of concerns and points of reference for effective marketing practice is understanding an organisation’s customers and users, and setting out to satisfy their needs. Marketing as a management task entails using a systematic process It was noted earlier that marketing can also be thought of as a dedicated management task. It’s a job that someone, somewhere in the organisation, has to perform and...

Words: 8525 - Pages: 35