Hi, I need help with essay on Wanted and Unwanted Products. Paper must be at least 500 words. Please, no plagiarized work!
. The fit is attained in an ideal market when supply just offsets the demand. Sales people use their social skills to discern the needs of the customer and use the product knowledge to present products and services to match those needs (Charan, 2007). Production that exceeds the customer wants leads to stockpiling of unused goods at the company’s end. It is termed as flawed productivity. On the contrary, a ‘hyped up’ consumer want may lead to customer buying wrong products, leading to aversion. Hence the creation of a want is justified so long as it just matches the needs of the customer, neither exceeding nor falling short. Credit card companies promote the card as a tool to avail limited period credit on shopping. This is an example of good want creation. As a bad example, these very companies motivate the bearers of cards to go on reckless shopping sprees thus accumulating debt. Most often, companies use psychological, emotional, subliminal and intellectually persuasive means through marketing institutions and advertisements to trump up customer wants. Companies target their persuasive campaigns at customers.The consumer has to discern his requirements from the maze of information. Thus the final decision as to what is ‘good’ and what is ‘bad’ want rests with the customer. Product Life Cycle is a simulation of the life of product sales with biological concepts of birth, growth, maturity and decline as depicted in the Product Life Cycle Diagram.