Need Recognition in Marketing
Need recognition in marketing is very important because it enables marketers to come up with an appropriate marketing strategy. Need recognition happens when consumers identify needs and think of products or services that can meet their needs. In the consumer decision making process, need recognition is usually the first and perhaps, the most important step.
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A consumer who does not see a need or a problem will generally not be interested in buying a product or hiring a service. Thus, they will not proceed in to the next step of considering purchasing a product or hiring a service to satisfy a need. However, when a consumer recognizes a need they moves to the next step of the decision making process. This entails finding a product or service that will meet their specific need.
A need can be generated or recognized. Majority of the utility-based products in the market today such as cars, washing-machines and refrigerators were introduced to the consumers because manufacturers realized that a section of the market needed such products. Before the introduction and launch of these products and their eventual acceptance, cleaning, transport and refrigeration were very inferior and this necessitated their production.
On the other hand, products like fashion accessories, computer games and colas were not popular needs. Instead, the products created their need among consumers, which did not exist in the existing markets. The products did not originate because of a popular need since there were appropriate substitutes for them in the market. Thus, the products just gave the existing products new dimensions that were not there before.
The new products such as these flourished because they were perceived as being superior to the ones that existed before. Nevertheless, a thorough market analysis is important before introducing any product in the market to identify consumers’ needs and features of products that can satisfy those needs.
Need recognition in marketing entails identification of the needs of the consumers by marketers. This involves conducting exploratory study of the target market segments to gauge their needs. This study helps marketers to know the needs that consumers have that are not met by the existing products or services in the market.
After conducting this study, marketers perform an internal analysis with an aim of matching the competencies of their firm vis-à-vis the existing gap to propose product types and hypothetical specifications. Marketers also interview the target segments to find out if the proposed products meet the specific needs of the consumers in the segments. If a product cannot address any of the existing needs of the consumers, then it fails.
Marketers also perform a conjoint analysis or factor analysis with an aim of determining the specific needs of their target market segment. After this, they move on to verify whether the product needed by the market matches their firm’s internal competencies. This is followed by a feasibility study of the proposed product and eventual development.
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Originally posted 2015-09-10 08:27:05.
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