Customer Experience Management

In previous lectures, we have discussed Internal and External Customers. In this lecture, we will discuss CUSTOMER NEEDS AND EXPECTATIONS and identify as to how we in Marketing attempt to satisfy them.

NEED
Needs can be described as human requirements. Need is there and its natural. We need food to satisfy our hunger, water to quench out thirst. Of course need can be more than just food, water and shelter. We need recreation, education, entertainment and lots of other things to sustain our living.

WANT
Need becomes Want, when they are directed towards a specific object. When hungry we need food; but we want say a burger. Want can vary from place to place and from people to people. A man in USA can want a burger to eat when hungry whereas a man in Pakistan needs a ‘Nan”. Want can be different at different income levels and in various times.

DEMAND
Want becomes a demand when backed up by an individual’s ability to pay for it. A hungry person can want a burger, but does he have money to demand a burger. Or is there a burger available to him?

MARKETING JOB
is not to create Need. Need is there. Marketing function is to offer a specific product
at a certain price and at a certain place (where need is) and at the time when Need is. If marketing function is performed properly, the product is sold. Or else it would not sell, no matter what?