Needs are basic human requirements. These are like food, clothing, housing and personal safety. These are not the creative output of an advertising agency. Converse customers have a need for protecting their foot while participating in sports. They search for affordable products.
Wants are what the customer requires to satisfy his or her needs. Like a customer in the US may be hungry want a hamburger, while one in Central Africa would want porridge to satisfy his need. They want a specific type of shoe as is also wanted by Sports stars and rock idols.
Demands are the desire for those products, backed by buying power, which would give the customer the maximum value and satisfaction. They demand converse brand of shoe since it gives the customer maximum satisfaction and value.
Converse customers exchange their money for the benefit that they derive from wearing a shoe. This benefit could be either be tangible or intangible. The tangible benefit is wearing what is perceived by the customer as the best value for money shoe. In the process of exchange customers align themselves close to brands.
The five concepts in marketing are:
1) The Production Concept – This is based on the concept that customers will prefer products that are easily available and affordable. Hence, the firm must concentrate on production.
2) The Product Concept – This is based on the premise that customers will prefer products that offer them the best value, top quality and innovative features. Hence, the firm concentrates on innovative product development.
3) The Selling Concept – This is used mainly for products that are not normally in the customer’s focus. Hence the firm has to go out a find these customers and sell to them.
4) The Marketing Concept – Here the concept is to be totally customer-centric with a focus on sense and respond to the customer’s wants and demands.
5) The Societal Marketing Concept – This tries to balance the customer’s short terms wants with his long-term welfare. It is based on the premise that the marker strategy should deliver value to the customer at the same time maintaining the well-being of the customer and society.
Converse stand back approach is a new market theory that allows customers to know the needs and requirements of market or customers. has it benefits that its marketing expenditure is very low. The disadvantage of this approach is that other competitors will grab the mind-space of the customer and causing converse to lose its already small market share.
Converse has always believed that the customer experience should be driven by the customer. It depends on the customers’ needs and the relations with customers. This means that it takes a back-seat in any such interaction like a good listener. This has helped it to maintain an authenticity of the brand and has kept its customers loyal to it.
However it does not mean that it does everything in the background. Recently it opened a music studio in New York. It invests in allowing emerging artists to use the facilities for free. In exchange it reserves the right to use them in future branding. Thus they have a foot-in-the-door for any new talent.
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