1.2.1 Customer needs

Question 1

What are customer needs?

Answer 1

The specific wants or needs buyers have when purchasing a product

Question 2

What do customer needs include?

Answer 2

Price
Quality
Choice
Convenience
Service

Question 3

What do Businesses need to do to meet customer needs?

Answer 3

Anticipate customer needs in advance to stay ahead of the competition
Stay close to their customers to keep up to date with their needs

Question 4

Why is it important for a business to adapt?

Answer 4

Target lots of different customers
Same product can satisfy different customer needs
A business does not lose customers to competitors
The business can stay current and on trend

Question 5

What are the rewards of satisfied customers?

Answer 5

Profit
Good customer reviews
Word of mouth
Repeat purchases
Loyal customers
More sales + revenue