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Another example might be a rival technology training organization. They might offer a basic computer training sessions. However, it is unlikely that their materials would allow for the specific needs and wants of literacy students. You could meet these wants and needs more effectively than your competitor.
Despite the importance of attending to our markets' wants, we also have to assure them that we are competent to address their needs. Returning to our retail example, I may not need a pair of shoes; nonetheless, I assume that the pair that ends up on my feet will meet my standards of fit and comfort – in fact, my needs. Our target markets make the same assumptions. They expect us to meet their needs but are attracted to us because we can also attend to their wants.
Examining wants and needs begins with targeting and carries into your marketing mix. The more you address your target's wants and needs the better your positioning will be.
Questions for Reflection
- Is your agency addressing both the needs and the wants of your market groups?
- What are some of the wants of your market groups?
- How do you think that you could better address the wants of your various markets?
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