1. Give examples of needs, wants, and demands that Converse customers demonstrate, differentiating these three concepts. * Needs: States of felt deprivation.
In this case the need of the customers are the basic physical need for clothing. They want something to wear on their feet.
* Wants: The form human needs take as they are shaped by culture and individual personality.
The customer of Converse wants to be seen as an individual in their way of living and clothes they were wearing.
* Demands: Humans that are backed up by buying power.
Customers of Converse demands products with benefits that add up to the most value and satisfaction. In this case the customers’ demands cheap pair of comfy shoes, which they can thrash, scribble on them and customize them as a canvas for personal expression.
2. What are Converse and customers exchanging in the purchase transaction? Describe in detail all the facets of Converse’s product and its relationship with customers. * Converse gain loyalty, money and word-of-mouth promotions from its customers for delivering good, comfy, cheap shoes – which can be customized and give the customers the feeling of individualism.
3. Which of the five marketing management concepts best applies to Converse? * Production concept, this concept means that customers will favor products that are available and highly affordable. Because Converse has a stand-back approach, they are not heavy promoting their goods and therefore can Converse put its focus on improving its production and distribution efficiency, rather than on promotion.
4. Discuss the benefits and drawbacks of Converse’s “stand‐back” approach. * Benefits:
* Stay loyal to the wants of their current customers.
* Low promotion costs.
* Converse is not competing with other brands, and keeps its low market share. * They may not react on time in...