If you ask consumers in the right way what they WISH you would do to make their lives easier, better, more fun, more interesting or even more worthwhile they’ll talk your head off. The problem is not an abundance of ideas but where you should focus your efforts in order to enjoy the greatest sales and profits.
Consider the IPod. Once perfected, Apple could listen successfully to consumer WISHES and turn its attention to extending the line by introducing more fashion oriented colors. Or having first proven it was the premier fluid replacement drink for athletes, Gatorade could increase sales by listening to consumer WISHES for new flavors. And who would WISH Bank of America could help them grow their IRA account if they consistently sent out checking account statements that contained errors?
Its enticing to think beyond the basics and to uncover WISHES consumers might have. Doing so can point to potential trends in the marketplace and new income streams. But to let your research push you into marketing and product moves before you’re ready can be an expensive disaster.
It never seems as glamorous to focus on satisfying consumer NEEDS and WANTS before moving to their WISH list, but it is essential in establishing a permanent foothold in the market. Furthermore, once you effectively deliver the closer in essentials that will make your business profitable, you will be far more successful in addressing consumer WISHES.
Products and services exist to satisfy consumer needs, wants, wishes, desires and emotions. Effective marketing research should uncover the essential consumer needs and wants you must first address to have long term success…and it should provide a score card for how effective you are at the basics.
The next challenge is for research is to uncover the consumer WISHES you should consider for stretching the reach of your business, and to rank order the ones that will produce the greatest return for your money.