Successful brands meet customers needs…. Does yours?
When customers evaluate a product or service, they often weigh up the options when making decision which to choose. Trying to understand this process and how well brands meet customer needs has historically been difficult, if not impossible, until now.
Many companies struggle with articulating what they stand for or what they mean to people. Many know the product or service that they want to deliver but they have difficulty in explaining it to people or aligning it to what people want. Historically, Maslow’s ‘Hierarchy of Needs’ has been a popular tool for brands (and researchers) to help understand what is important to customers. However, the model consistently fails to explain how people choose and what’s important within any given category or market.
Not only do brand owners struggle to define their brands but so can customers also find it difficult to explain why they choose and what’s important to them. For example, Daniel Kahneman’s System 1 thinking (i.e. intuitive or subconscious thinking) means that consumers are not always aware or conscious of why they choose brands and this can makes it difficult for them to explain what they look for in a category and why they are prepared to pay for some brands over others.