Marketing Basics

Good research in the area of customer value simply means that one must stop talking to the

customer—talking through displays, advertising, and/or a website. It means that one is always

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open to listening carefully to the VOC. Active listening in the service of better identifying

customer value means that one is always open to the question of how your business can better

solve the problems of particular customers.

If businesses are to become better listeners, what should they be listening for? What types of

questions should they be asking their customers? Businesses should address the following

questions when they attempt to make customer value the focus of their existence:

• What needs of our customers are we currently meeting?

• What needs of our customers are we currently failing to meet?

• Do our customers understand their own needs and are they aware of them?

• How are we going to identify those unmet customer needs?

• How are we going to listen to the VOC?

• How are we going to let the customer talk to us?

• What is the current value proposition that is desired by customers?

• How is the value proposition different for different customers?

• How—exactly—is our value proposition different from our competitors?

• Do I know why customers have left our business for our competitors?

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