Stated & Unstated Needs Of A Customer: Stated & Unstated Needs Of A Customer BY :- Anuj Khurana Neha Gupta Who is customer?: Who is customer? Every person enters in business is potential cusomer,even though they may not purchase today, they may purchase something in future. Slide 4: Customer need is generated by two factors : >complexity of using product/services >experience or expertise in its use or application I want it, I need it…: 1- 5 I want it, I need it… Five Types of Needs Stated needs Real needs Unstated needs Delight needs Secret needs Slide 6: Understanding customer needs and wants is not always simple. Some customers have needs of which they are not fully conscious, or they cannot articulate these needs, or they use words that require some interpretation. Consider the customer who says he wants an "inexpensive car.". The marketer must probe further. We can distinguish among five types of needs - Slide 7: 1. Stated needs (the customer wants an inexpensive car). 2. Real needs (the customer wants a car who operating cost, not its initial price, is low). 3. Unstated needs (the customer expects good service from the dealer). 4. Delight needs (the customer would like the dealer to include an onboard navigation system). 5. Secret needs (the customer wants to be seen by friends as a savvy consumer What is Stated and Unstated customer needs: What is Stated and Unstated customer needs Stated needs - Which is explicitly expressed by the buyer to the consumer Unstated needs - Which Buyer assumed that it will be fulfilled by default Slide 9: A customer has came to the bank because he has lost his debit card. Now let’s see how the banker treats the customer with this query… Meeting With The Customer:
Meeting With The Customer
Conversation: Conversation Banker Good morning Sir, how may I help you ? Customer Good morning, Actually I lost my debit card 2 hours ago. It was in my wallet n as I was coming to my office somebody stole my wallet. Please block the card ASAP and make sure that it is not misused. Continued…: Continued… Banker Ok Sir Please tell me your name and a/c no. ? Ok Sir as I can see your last transaction was made yesterday so it has not been misused till now and as I have entered the request for blocking there is no need to worry now. Your card will be blocked within 2-3 hours. Customer My name is Hari Saadu and my a/c no. is 018377374859 Oh ! Thank you so much sir. And yes I also want the new card to be issued and please issue it really soon as I need it for my daily business use. Continued…: Continued… Banker Ok sir. There is a procedure to be followed. You have to fill this form and you will get a new card issued in only 2 days. Customer Ok. Give me I’ll fill it quickly. Slide 14: Now this was the stated need of the customer which the banker Successfully Fulfilled. Now as Mr. Hari Saadu is filling the form the Banker Sees that there is a huge amount of balance lying idle in his a/c. So now the banker asks Mr. Hari Saadu that is he looking to invest money somewhere as there is huge money lying idle in his a/c. Continued…: Continued… Banker As I can see Sir there is lot of money lying idle in you’re a/c. Why don’t you invest your money, you will get a good return and you can also save your tax. Customer I was just about to talk to you about this. I am really looking for some good invest plan but I don’t know where to invest. Also please tell me some scheme so that I can save some tax also. Continued…: Continued… Banker Ok Sir. First please tell me how much are you willing to invest and are you willing to take some risk ? Customer Hmm.. Actually I can invest around 30,000 every month, I have medium risk appetite. Continued…: Continued… Banker Ok Sir I’ll suggest you to invest 35% in equity mutual funds, 35% in debt, 20% in Gold ETF and the remaining 10% amount you can invest in recurring deposits. Customer Ok. How much return will I get every year ? And is there any lock in period ? And how much tax can I save from this scheme ? Continued…: Continued… Banker Sir you will get a good 15 -20% return every year. For the Equity linked Mutual fund there is a lock in period of 3 years. You can save your tax upto 1 lakh rupees depending on the amount you invest. Customer Ok. Thank you so much for the information, I was so confused where to invest, how to save tax, I am really happy now. Now I am getting late for a meeting, So next time when I come I’ll fulfill the formalities for the investment and yes i have filled this form for the new debit card. Continued…: Continued… Banker Sir you don’t need to come again, we will send our representative to your home or office at your convenience and fulfill all the formalities then and there only. Ok Sir bye. Have a great day and for any queries you can contact me any time. Customer Oh really ? Thank you so much. I’m really delighted to know that. I am very happy with you service . I have to go now, will inform you about the meeting. Thank you again. Ok bye. Thank you so much again. Slide 22:
Mr. Hari Saadu wanted to save tax and was looking for a good invest option. The banker not only solved his stated need of the lost debit card but also fulfilled his unstated need by suggesting the best investment options for him. The banker further delighted Mr. Hari Saadu by saying that he didn’t need to come again and the bank will send their representatives to his home or office as per his convenience. Mr. Hari Saadu went back as a Delighted Customer. This is the best example of Good
Thank You For Watching This Slide. Hope this will help you in knowing what are the Stated and Unstated needs of the Customer and how we can give good
and make a tensed customer a Happy one and then a Happy Customer To A delighted one.