identifying and understanding customers

Reasons why its important to satisfy customers :

• Provide a product that customers will buy - meeting customer needs will help ensure that demand exists for products leading to greater success for businesses

• Increased sales - A business that identifies customers needs at a greater rate compared to rivals will experience high demand and will be able to sell large volumes of its products

• Avoid costly mistakes - understanding customer needs will ensure that resources are not wasted developing products which arent in demand which may need to be sold at a cheaper price from the market all together

• Be competitive - meeting customer needs successfully through always providing the right product at the right price that is easily avaliable to buy compared to rival products will ensure that the business remains competitive