Posted in Marketing and Strategy Terms, Total Reads: 343
Definition: Need Profiling
A firm tends to deliver the values to the customers as per the consumer’s demand. Often, to ascertain the unfulfilled needs of the customer, representatives of the firm tries to anticipate the demands of the customers through interview, open end questionnaires, one-to-one discussions and other survey methods. These help the firm to build a report on the current and anticipated future need of the customers under survey. This process of developing a profile of the customer on the basis of his or her needs is known as need profiling.
The major objective of need profiling is that the company wants to identify the unfulfilled needs and deliver them in a cost efficient way so that it can retain the customers and can induce more trial rates resulting to greater first time purchases. These need profiling also helps to identify the spots on the perceptual maps that has not been addressed by any of the firm’s competitors yet.