This course has taught me many things about marketing, but possibly the most important is the concept of truly understanding customer needs. If you cannot assess and meet the needs of your target market, you might as well not be in business at all.
Building a brand requires building brand loyalty. If you are able to identify market needs, and are able to meet them thoroughly, you have a launching point. There are several factors, however, that affect a company’s ability to create brand loyalty. The first one is understanding the needs themselves, and identifying a solution or product. This is simple enough, and requires some, but not a lot, of critical thinking. It can be easy to identify THAT somebody has a need, the harder part is understanding WHY.
The WHY of customer needs is identifying not only that there is a need, but drives the customer to have that need? What are the outside factors that influence them? It is crucial that a business owner discover why the consumers are thinking what they are, in order to market to them effectively. If, for example, a business creates a product based on consumer need without figuring out why, they might find that the need was situational or temporary, forcing their sales to come to a halt once that need ceases to exist.
The simplest way to ensure that your business will meet consumer needs and create brand loyalty is to get to know them. A business owner or a marketer should know everything about their clients in order to custom-design a marketing strategy for them. Personalization is a great form of marketing because it makes the consumer feel as though they are no longer just part of the faceless masses.
In addition to the book, I used these sources: