DOES MARKETING CREATE OR SATISFY NEEDS?
Understanding and satisfying human needs, wants and demands is a requisite for every marketing company to effectively communicate, exchange offerings and create value for customers. In fact, the whole concept of marketing is initiated to suit the needs of varying target customer segments, satisfy each segment, and bring about changes relative to their changing preferences. Since human needs are a part of the human makeup, marketers definitely stimulate these needs, but sometimes, may not necessarily create or satisfy them. To satisfy them, it is thus crucial to understand what makes the customers happy, and use this as an input for designing the company’s marketing strategies. The more successful the strategies, the more profits the company makes and in the process more trust is gained.
Some companies have successfully created value through constant interactions with customers through surveys, complaint boxes and personal communication to gain an insight into each party’s needs and satisfy their wants. For instance, in McDonalds, most of the top executives come to the store, in the same attire as regular staff, and run the orders themselves. They monitor the customer’s behaviour, buying patterns, differing tastes in burgers, extra dips/sauces preferred with each meal, customers reaction to new seasonal offers like the Shrek 3 pesto meals, and accordingly target their main customers with better product offerings and package meals. Also, through close interactions, both parties get a share of value – The seller gains profit while the customer gains satisfaction of achieving or enjoying the final product or service. In Disney Parks, top managers carefully analyse and monitor behaviour of customers by dressing themselves as Mickey Mouse, Goofy and other characters to get closer to people’s desires. Their main goal is to provide their services in such a way that their performance exceeds customer expectations for utmost...
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