Problem Faced by Companies and Students with Database Management System and its Assignment

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What is the Customer?

The Customer is the soul of any business. Customers are the people who purchase products from a company, use them, and sometimes give feedback regarding it. But in the extended term, ‘Customer’ is any person who uses the benefits of a product or service offered by a business. So anything that a company earns comes from Customers. Thus, we can say that Customer is the most crucial part of any Business.

Why are Customers Important?

●Making Sales and Revenues

They are an essential part of a business, regardless of what industry you are in. A company cannot make any sales without Customers. So it is not possible to run a Business without Customers. Customers are not important just because they buy products from your Business and help you to make money. There are so many other values added to it.

𥳼onducting Market Research

Before starting a business, you need to do market research. It would be best to find out what the customer needs or wants. If there is any problem that customers face, you have to come up with a product or service to solve. Then only you can start your Business. Can you think of any other way to do this market research? This thing doesn’t stop here; you need to understand customers’ mindsets and intentions to come up with products they will like. You need to study their behavior and build your business according to it.

●Segmenting your Customers

You need a targeted Customer base to make your business grow. You can target specific groups and work towards fulfilling their needs. You can segment your Customer base while doing the campaign for your Business. This can help your business to grow a lot faster and further.

𥳺sking for Feedback

You should not consider Customers only for Marketing Strategy but also for our Customers Experience. You can ask for feedback from the customers. They will give information about their experience and will also give you an idea about how you can improve your products or services.

How do satisfy Customer Needs?

At first, you need to target a specific Customer Segment. Then you have to target that segment and work to satisfy their needs. There are mainly 4 ways to do it -

● strong>Demographic

While doing Demographic Segmentation, you need to study customers’ age, gender, income groups, race, nationality, etc. For example, a bachelor will make different marketing decisions than a married man. Bachelors give more attention to their appearance than other things. So they spend more money on clothes, accessories, and grooming products. In comparison, a married man invests in quality goods that will last long. Like they want to buy a house, a new car, or furniture.

● strong>Geographic

In this, you need to think about the region, climate, and population density of where your customers reside. For example, the people living in rural areas and towns do not make some marketing decisions. In rural areas, kids buy kinds of stuff for outdoor games whereas, in town, kids are more prone to purchase indoor games.

● strong>Psychographic

This segmentation talks about the lifestyle of a customer base. For example, the customer base who are conscious of the environment will most buy from the Business that offers environment-friendly products. Someone concerned about sustainability will give more attention to the company's manufacturing process.

● strong>Behavioral

Here it would help if you studied customer behavior. It includes how loyal Customers are to a particular business, how often they purchase the product, what benefits they are looking for, etc. For example, a customer with a shifting tendency needs a different marketing approach than a loyal customer.

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