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Giving Customers What They Want?  
User currently offlineLehpron From United States of America, joined Jul 2001, 7028 posts, RR: 21
Posted (8 years 11 months 2 days 4 hours ago) and read 1007 times:

When does giving customers what they want, continue progressing knowledge in a subject?

I get the feeling that applications are more about recycling ideas than about pure research, as in any business research generally does not return a profit.

Do I have this idea backwards?


The meaning of life is curiosity; we were put on this planet to explore opportunities.
3 replies: All unread, jump to last
 
User currently offlineMNeo From Bulgaria, joined Mar 2004, 776 posts, RR: 1
Reply 1, posted (8 years 11 months 2 days 3 hours ago) and read 991 times:

The thing is that only a few companies have the money to research something groundbreaking. And even with that they would have to wager everything they have on a gamble. Its much easier to improe on already proven beacuse there already is an estblished market.

We always hear about how companies who have discovered something new are making money, but there are many who just go bancrupt beacuase there is no market.

Its basically: companies look out for themselves first, then the consumer.



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User currently offlinePerthGloryFan From Australia, joined Oct 2000, 751 posts, RR: 0
Reply 2, posted (8 years 11 months 1 day 15 hours ago) and read 958 times:

Businesses who give customers what they want rarely make money in the long term.

It's businesses who give customers what they need who really do well.

There's basically two approaches; Technology Push or Market Pull.

Both can work with the proper management and controls. The first is developing a product or service then trying to find a market for it, the second is about finding out what the market needs first then meeting that need. In both approaches what often demarks those who succeed are the businesses who set specific targets, particularly ROI, and sctrictly apply them - so the instant it looks like the product/service is is not going to be profitable then it is pulled or modified, not continually persisted with. This decision is often very difficult to make because no-one likes to admit they got it wrong, so the business culture needs to be such that these sorts of decisions are easily made and analysed without fear or blame.

Google "marketing mix" and you'll see the classic textbook marketing approach.

PGF


User currently offlineLehpron From United States of America, joined Jul 2001, 7028 posts, RR: 21
Reply 3, posted (8 years 11 months 1 day 12 hours ago) and read 943 times:

Quoting MNeo (Reply 1):
The thing is that only a few companies have the money to research something groundbreaking.

I agree with this, though I feel the numbers seems to be increasing.

What about the idea that customers want/need/desire something and they do not care how the company gives it to them, just as long as they get it?

Quoting MNeo (Reply 1):
We always hear about how companies who have discovered something new are making money, but there are many who just go bancrupt beacuase there is no market.

I always get touchy when people mention the latter part, the idea of no market. What are the chances that as long as the customer will not feel they have the option, they will not choose it, hence no market?

Shouldn't, therefore, a company invest in advertisement to inform (I hesistate to use the term infomercials), that it may make the customer aware of a product or the potentials of it?

Quoting PerthGloryFan (Reply 2):
Businesses who give customers what they want rarely make money in the long term.

It's businesses who give customers what they need who really do well.

That is a very interesting concept. While the forward gives me the impression of something being complex such that they do not feel everyone's wants/desires, the latter gives me the impression of a precieved need, probably based entirely on a customers actions.

Not only that, if a justomer justifies something as a need when it normally is not, would that screw with the business models, or is that just impulsive spending? Or something else?

Quoting PerthGloryFan (Reply 2):
The first is developing a product or service then trying to find a market for it...

That sounds rather negligent and almost irresponsible on the part of the company, why not at least get the customer's attention and get them ready way before doing anything. If it were me, I'd spend on advertising first, effectively creating a market. There are many things that I wasn't aware of until I was informed, them I took interest. I cannot be the only example.

Quoting PerthGloryFan (Reply 2):
the second is about finding out what the market needs first then meeting that need.

That is how I see a vast majority of products, but then like MNeo said:

Quoting MNeo (Reply 1):
The thing is that only a few companies have the money to research something groundbreaking.

So I can understand if they were small/medium businesses, but not if they were big. I feel big business has a responsibility to guide or set an example of what to strive for. When I get the impression otherwise, I am disappointed.


I thank you two for your responses as I expect seriousness when I ask in seriousness.  Big grin



The meaning of life is curiosity; we were put on this planet to explore opportunities.
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