I found Yale’s Ravi Dhar note on “Want Customer Loyalty? Be Relevant; Anticipate Their Needs” very thought provoking. Note particularly:
“The lesson here is that sometimes consumers do not realize precisely what they want. And helping them in this process of preference discovery, to understand what they truly want, is an immense source of value creation. Marketers that help consumers with the process of discovering unrecognized preferences and as a result, unmet needs, will create loyal customers.
For companies looking to build strong relationships with customers, the greatest challenge and the greatest opportunity is the same: to create processes that help gather relevant information and quickly discover unrealized needs.”
How do you discover your customers’ unrealized need?