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Understanding Customer Preferences

Filed in archive Marketing by Greg Balanko-Dickson on April 18, 2007

Understanding Customer Preferences
What is the definition of marketing.

The process by which information about a product or service designed to meet a need - real or otherwise - is communicated to those who have the need.

The process can take place on the spur of the moment or be planned. However, the goal is always the same. To get people to 'consider' the merits of whatever is being sold.

When done well, they will want to investigate further or acquire the item or service. Try to look at yourself as being employed by your customers.

If they are your 'boss', you will let them tell you what they want to buy, how they want it, how much they are willing to pay, as well as where and when they want it provided. They will also tell you what else they expect for their money.

Your strategy is to position your business at the same level as the majority of the buyers you are targeting. It is critical to figure out where you are positioned in the marketplace. You can go just as broke positioning your product or service above, as below the marketplace! Remember, look for the biggest bulge of buyers for your specific product or service and then package your product or service to meet their needs head on!

To accomplish this you need to understand your customer and be able to put yourself in your customers' shoes. Today, customers have good crap detectors, and they are looking to do business with companies that understand their needs, wants, emotions and perceptions (NWEP). Understanding your customers' NWEP is essential in any business or marketing activity.

The concept then is to direct all your company resources toward your best prospects. To communicate in such a way that all your communications vehicles (brochures, web site, logo, ads, etc) clearly mirrors your targeted audiences' most wanted needs and desires in your product or service.

With a 'NWEP Profile' of your ideal customer, you will be able to create brochures, web site and a business model that is in 'alignment' with the customers' point of view. This valuable information can then be used to:
  • speed and simplify site design and development.
  • eliminate the need to re-engineer your business model because your marketing and sales plan did not achieve its
  • goals and objectives.
  • reduce lost opportunities.
  • build marketing momentum.
Another tactic is to create an image of your product, service or company that transcends the facts. The purpose is to associate your product or service with positive or desired values, which have little or nothing to do with the product itself but are sought after by your target market.


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