Lesson 1:Customer orientation
The course in Consumer Behavior contains the following:
- Lessons in video format with explaination of theoratical content.
- Complementary activities that will make research more about the topic , as well as put into practice what you studied in the lesson. These activities are not part of their final evaluation.
- Texts supporting explained in the video.
- Evaluation questionnaire, that will grant access to the next lesson after approval.
- Final exam for overall evaluation of the course.
A firm in the market economy survives by producing goods that persons are willing and able to buy. Consequently, ascertaining consumer demand is vital for a firm’s future viability and even existence as a going concern. Many companies today have a customer focus (or market orientation). This implies that the company focuses its activities and products on consumer demands. Generally, there are three ways of doing this: the customer-driven approach, the market change identification approach and the product innovation approach.
In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for this approach is that there is no reason to spend R&D (research and development) funds developing products that people will not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.