needs & wants

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GCSE Business GCSE Business StudiesStudiesRevision Presentations 2004Revision Presentations 2004tutor2ututor2u

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GCSE Business GCSE Business StudiesStudiesRevision Presentations 2004Revision Presentations 2004

Understanding customer Understanding customer needsneeds

Spotting a business opportunity


GCSE Business GCSE Business StudiesStudies



Needs & Wants Lesson objectives:

To know that Customer needs are central to starting a business

To know methods of collection and to and interpret primary and secondary research in the context of starting a new business

the difference between qualitative and quantitative data

The value of market knowledge through direct customer contact





Needs & Wants

Needs satisfy our basic requirements for living:

* Food * Water * Warmth * Security * Shelter

Wants are things we desire beyond our needs

A better mobile phone

A faster car





Products

Product = anything that satisfies customer needs and wants

A “good”Something tangible

E.g. a mobile phone

A “service”Usually intangible

Something other people do for you

E.g. service you receive when you stay in a hotel





Task

You are about to see 5 goods or services

Imagine you are a business and your job is to work out:

The needs of the customer

The wants of the customer

For example; a fruit and veg store

Needs: Food

Wants: fresh, cheap prices, friendly service





A Mobile Phone Company





A Restaurant





A Chocolate Bar





A Computer





A School





Task

Using a magazine picture of your choice:

Stick the picture in your book with the Title : Understanding Customer Wants and Needs

Along side the picture comment upon how this product meets the needs of the customer and the wants of the customer





Learning obejctive

To know methods of collection and to and interpret primary and secondary research in the context of starting a new business

The value of market knowledge through direct customer contact





A Difference

How would the following type of businesses work out what their customers needs and wants are:-

A Microbusiness – this is a very small business where the owner does everything

A big business – this is a very large business, with thousands of employees and hundreds of shops

Give reasons for your thoughts.

Which do you think is the most effective for giving the customer what they want.





TASK: Market Research

How do companies – of any size – find out the wants and needs of their customers?

Brainstorm ideas with the person next to you and create a list in your book.

Now split your ideas into the following two groups

Primary Research – this is where you go and talk to possible customers and find out what their needs and wants are

Secondary Research – this is where you use information already gathered by someone else, from newspapers, the Internet, etc

Which do you think is the most reliable type of research?





Extension

For both microbusinesses and big businesses:

Say what the positives of using primary research are

Say what the negatives of using secondary business are

For both, say what you think is best.





Plenary

Tell me, in one sentence, what you have learnt this lesson.

The sentence can be no more than 2 lines!!

Try to fit everything in.





Learning objective

the difference between qualitative and quantitative data





Interpret why and when a business might use the

following types of market research, describing their positives and negativesa. Quantitative





a. Qualitative





Quantitative / Qualitative

Highlight the questions on the survey which are Quantitative

Highlight in a different colour the questions which are Qualitative





Easy Jet V Ryan Air

In your book write the title: Qualitative and Quantitative research

Which information are you given that is Qualitative

Which information are you given that is Quantitative

Which customer information seems the most reliable? Why?

Which customer information are you given which is the most useful? Why?





Theo

Highlight the primary research Theo did in one colour

Highlight the secondary research Theo did in another colour

Highlight information that is qualitative

Highlight information that is quantitative

Highlight any wants of his customers

Highlight any needs of his customers





HOMEWORK

Revision Sheet A-Z

Theo

needs & wants

Documents