1.2a Customer Needs Flashcards
1
Q
What are the 4 main consumer needs a business must consider ?
A
Price
Convenience
Quality/ design
Choice
2
Q
Why should a business consider price ?
A
- highly influences all customers , lower prices attract customers
- lower prices will increase sales , hence more profit
- important to research potential customers views on pricing
3
Q
Why is the quality of a product important ?
A
- higher quality , meets expectations of customers and will turn into a loyal customer
- high quality ensures all customer are satisfied and consumer needs are met
4
Q
Why should business consider choices of customers ?
A
- product differentiation helps customer decide which product to choose easily
- will be suitable for all sorts of customers and target markets
- will ensure a customer is confident with their purchase
5
Q
Why is a products / service convenient for customers ?
A
- can help reduce costs
- helps customers experience become easier
- customers are less likely to waste time
6
Q
Why is it important for a business to meet consumer needs ?
A
- ensure customers are happy with the quality of product/service
- encourages repeat purchases , generate customer loyalty
- increases sales
- recommendation of product to others
7
Q
What is the purpose of ‘ market research ‘ ?
A
- used to gather accurate information about the market , the needs from customers and competitors
- help decide if a business is viable
