What Consumers & Businesses Want?

Discussion in 'Growing and Managing a Business' started by YoungStart, Jan 8, 2012.

  1. YoungStart

    YoungStart
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    Hello everyone,

    I am trying to identify "the common threads" that runs through most consumer's needs, and"the common threads" that runs through most business's needs. For example, most consumers want "value for money", "good service" and "convenience" when purchasing goods and services. Likewise, most businesses want to "increase profit", "increase revenue", "increase good will" when trying to meet consumer's needs.

    My first question is: what are those common things that most consumers want from businesses, and what are the common things that most businesses tend to want from consumers? I'm trying to arrive at a general consensus, to paint a general picture, a list of most common things each wants from the other.

    My second question is: how does concepts like Rachel Botsman's "The Case for Collaborative Consumption/The Sharing Economy" (see TEDx videos) change consumers and business wants?

    Thanks in advance
     
  2. band

    band
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    Below are my view points:

    Business need:
    1. Good customer with payment on time, no delay or credit for long term.
    2. Less complain customer, complain customer stop a company grow up to bring in more new customer.
    3. keep looking of new customer is tiring, return customer is important to secure company profit.
    4. Profit

    Customer need:
    1. Warranty, preferably product last for long period. Last long = save more money.
    2. Good service, instant follow up with great solution.
    3. One stop station, e.g. to setup a shopping cart website, I would prefer to find a company able provide, design, programming, security, hosting, payment gateway, seo and marketing services; instead of find each services separately.
    4. Instant solution, if possible can get it done by next second.
     
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  3. Peter.C

    Peter.C
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    With regards to the video: from what I see, customers want to be able to use technologies that allow them to trade their products for another product without saving any money. She goes on to talk about how this can be a benefit to customers/businesses who can now conduct trade between each other instead of using a middle man, in a sense, becoming a entrepreneur by using "peer-to-peer" networks.

    The benefit for customers is they can get a product they want but without the hassle they would have to go through normally, they also become their own business. From what I can tell by making customers their own business members it levels the playing field so both simply have one goal: "the exchange of good(s) or (a) service(s) for good(s) or (a) service(s) of equal value". Essentially this is just bartering between two people.

    By sharing products you are getting "more bang for your buck" because when you stop using it, you can get something you will use without any additional money needed.

    Businesses/Customers need:
    A product or service that meets there needs in exchange for their own goods or services
    Trustful partner to deal with

    More information can be found here.
     
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  4. YoungStart

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    @band @Peter.C Your responses were very helpful, thanks
     
  5. Daniel Cole

    Daniel Cole
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    Business

    Interesting discussion. I believe you already nailed what businesses and consumers are after: Value. Businesses must provide a compelling value to buyers to facilitate commerce.

    collaborative consumption is not a new "business model" but rather just "business." Good old fashioned supply and demand brought together. Technology has recently made it more efficient to bring individuals together in a systematic and convenient way that was previously unavailable. Previously in business you needed an official business to be the supply side of the equation because technology did not exist to effectively organize individual consumers that could provide a product or service. As technology increases and the world becomes more connected individuals will start to deal directly with each other rather than through traditional business outlets. For example, my company is ToolSpinner.com and online platform for peer-to-peer tool rentals. Tool renters want quality tools for an affordable rental rate. Previously this meant borrowing from a friend or going to a rental local store when friends could not meet the demand. Likely others in their region could supply their demand but had no means of connecting. With technology we are creating a platform where individuals can meet the needs of others individuals directly while both parties benefit. A website is the middle man rather than a big building filled with idle capacity staffed by individuals. Ebay did this a decade ago with selling items, now other companies are doing this for local commerce. See Airbnb, Taskrabbit, RelayRides for examples. And of course, ToolSpinner.com ;)
     
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  6. YoungStart

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    @Daniel, Thank you, very helpful information, especially the part where you used your business to illustrate how technology brings people directly together to fulfill needs.
     
  7. td2011

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    Good idea for thread. This topic needs to be discussed more widely and more often, it's often the case that it doesn't matter what the consumer wants or needs but business forcing it upon the public.
     

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