1.2.1 Identifying and understanding customer needs

• Match the aspect with its correct category:

  Definition ↔️ Essential requirements from a product or service

  Necessity ↔️ Basic requirements

  Examples ↔️ Food, shelter, safe transportation

  Importance ↔️ Must be fulfilled
• Customer wants are considered optional extras
• Customer needs are fundamental, unlike customer wants
• What are customer wants defined as?

  Desires or preferences
• Businesses must satisfy customer wants before focusing on customer needs.

  False
• Customer needs are optional and add desirability to a product or service.

  False
• Understanding customer needs is crucial for businesses to provide relevant products and services.


  True
• Quantitative and qualitative data analysis together provide a comprehensive understanding of customer needs.


  True
• What are customer needs defined as?

  Basic requirements and expectations
• Customer needs are necessary for survival and satisfaction.


  True
• Match the aspect with its correct category:

  Definition ↔️ Essential requirements from a product or service

  Necessity ↔️ Basic requirements

  Examples ↔️ Food, shelter, safe transportation

  Importance ↔️ Must be fulfilled
• Customer needs are fundamental, while customer wants are optional desires
• Market research involves conducting surveys, focus groups, and interviews
• Quantitative data analysis uses statistical methods to analyze numerical data
• Steps in analyzing market research data to identify customer needs:

  1️⃣ Identify patterns and trends

  2️⃣ Prioritize needs

  3️⃣ Segment customers
• Segmenting customers involves grouping them based on similar needs to better understand the target market.


  True
• Unmet customer needs are gaps between what customers require and what is currently available in the market
• What unmet need is indicated if customers complain about short smartphone battery life?

  Longer battery life
• What is an example of a customer need?

  Safe transportation
• Observing customer behavior is a method to identify unmet needs.

  True
• Analyzing market research data helps businesses gain insights into customer requirements and expectations
• What is the purpose of segmenting customers in market research?

  Understand target market
• Match the data analysis method with its type of data:

  Statistical tests ↔️ Quantitative

  Thematic analysis ↔️ Qualitative
• When analyzing market research data, identifying common themes and unmet requirements is referred to as identifying patterns and trends.
• The purpose of quantitative data analysis is to measure trends and patterns.
• What are key strategies to identify unmet customer needs?

  Research, feedback, analysis
• What does competitor analysis reveal about unmet customer needs?

  Gaps in the market
• Customer personas are detailed profiles of a business's target customer segments.
• What is the benefit of creating well-defined customer personas?

  Tailoring strategies
• Prioritizing customer needs involves determining their importance based on sentiment and business impact.

  True
• Match the term with its definition:

  Demographics ↔️ Measurable characteristics of a population

  Psychographics ↔️ Qualitative factors describing lifestyle
• Demographics and psychographics are essential tools for understanding customer needs and enabling effective market segmentation
• A skincare company targeting young adults with an interest in natural products emphasizes eco-friendly ingredients and ethical sourcing
• Customer wants are necessary for survival or essential satisfaction.

  False
• Businesses should focus on customer wants before satisfying customer needs.

  False
• Observing customer behavior uncovers unmet needs through monitoring how customers interact with products or services
• The purpose of quantitative data analysis is to measure trends
• Key strategies to identify unmet needs include market research, customer feedback, competitor analysis, and direct observation
• Customer personas are detailed profiles of a business's target customer segments.


  True
• Creating well-defined customer personas helps businesses better understand their target audience.


  True