need recognition

Examples of need recognition in the following topics:

• Need Recognition

  • Need recognition occurs when a consumer identifies a need and thinks of a product that might meet this need.
  • A need can be triggered by internal or external stimuli.
  • Human needs as identified by Maslow:
  • At the bottom of the hierarchy are the "Basic needs or Physiological needs" of a human being: food, water, sleep and sex.
  • Identify need recognition as part of the consumer decision making process

• Purchase

  • For example, after going through the need recognition, information search, and alternative evaluation stages, one might choose to buy a Nikon D80 DSLR camera, but a close photographer friend might share negative feedback, which could drastically influence personal preference.

• Customer Wants and Needs

  • In this approach, consumer wants and needs are the drivers of all strategic marketing decisions.
  • A need is a consumer's desire for a product's or service's specific benefit, whether that be functional or emotional.
  • For example, food is considered a consumer need.
  • The customer decision process begins with need identification.
  • A marketer needs to discern what customers would want in spite of what they might say.

• The Marketing Exchange

  • The exchange between the person in need (i.e., someone who offers money or some other personal resource) and the organization selling the product, service, or idea results in a transaction.
  • The exchange process allows the parties to assess the relative trade-offs they must make to satisfy their respective needs and wants.
  • Other exchanges may be characterized as equitable, where each party receives about the same as the other—the customer's need is satisfied and the business makes a reasonable profit.
  • The potential buyers, in commercial situations, "vote" (with their dollars) for the market offering that they feel best meets their needs.
  • Two of the key questions that a marketer needs to answer relative to buyer behavior are:

• Repositioning

  • When a company initiates a repositioning strategy, it needs to change the expectations of stakeholders, including employees, stockholders, and financial backers.
  • A company that has achieved brand recognition can often survive the challenge of new entrants in a market.
  • Determining which type of repositioning is needed isn't always easy; it is important to understand the changes in the current market and how competitors will react to the change.

• Identifying Prospects

  • Organizations must identify prospective customers and understand their needs and wants to improve the odds of making a sale.
  • Before closing a sale or launching promotional activities, organizations must first understand the needs, wants, and habits of their target audience.
  • As a company introduces and markets new products, the number of customers will fluctuate depending on the needs of its target market.
  • The marketing and sales teams' market analysis validates if a strong correlation exists between product benefits and customer needs.
  • A brand's USP enables it to enter markets where there is less competition and greater potential to build brand equity and recognition.

• Brands and Brand Lines

  • Line extensions do not compete with each other, since each answers different needs and thus appeals to a different market.
  • Due to the established success of the parent brand, consumers will have instant recognition of the product name and will be more likely to try the new line extension.
  • More products expand the company's shelf space presence, thereby enhancing brand recognition.

• Recruiting and Selecting Salespeople

  • A growing number of companies, recognizing that their employees are among their most valuable assets, are backing up that recognition with solid investment.
  • After obtaining a large, qualified applicant base, managers need to identify those applicants with the highest potential for success.
  • When screening potential employees, managers need to select based on cultural fit and attitude as well as technical skills and competencies.
  • They need to be trustworthy and honest, yet still be able to quickly perceive what the customer truly wants.
  • They also need to be persistent.

• Careers in Marketing

  • Some of the main responsibilities of PR specialists include organizing speaking engagements, positioning companies to win industry recognition and accolades, writing press releases, and developing relationships with analysts and media.
  • Some companies customize marketing positions according to organizational or market needs.

• Consumer Awareness

  • Two components comprise brand awareness: brand recall and the consumer recognition of the brand.
  • Similarly, brand recognition is the potential of consumers to retrieve past knowledge of the brand when asked or shown an image of the brand logo.
  • Word-of-mouth marketing from family and friends, or high recognition of the product through repeated advertising, can drive consumers to purchase certain brands over others.
  • Apple and its marketing strategy around the iPad is a brilliant example of high brand recognition and anticipation of a new product.