IMI201H5 Lecture Notes - Lecture 3: Customer Relationship Management, Root Mean Square, Voice Of The Customer
22 Nov 2020
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Marketing concept: determine wants and needs of consumers, then satisfy these wants and needs more e ectively and e ciently than competitors. Wants: the form a need takes when presented through the lens of culture, personality, and experience. Wants are often expressed in terms of speci c products, brands, and/or rms. Using toyota as an example, let"s see how marketing for cars relates to customers" underlying needs . Some needs (e. g. transportation) don"t neatly t into one of the three categories from the textbook or onto maslow"s hierarchy. When its competitors products" satisfy the same primary need as its own products, companies may market to secondary needs. A company can use di erent brands it owns to focus on di erent secondary needs, potentially attracting a wider base of consumers (segmentation) Emphasis on secondary needs can re ect real product features (e. g. the star safety system ) but can also be imaginary.
