Explore BrainMass


This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

1. Discuss the process of identifying market needs.

2. What makes new venture creation difficult?

3. How might one come up with a unique idea?

*200 words minimum

© BrainMass Inc. brainmass.com October 25, 2018, 3:08 am ad1c9bdddf

Solution Preview

The response addresses the queries posted in 468 words with references.

//Identification of the needs is an important and fundamental part of any marketing research. The process of identifying the needs is not merely focused on what the consumer can tell the company about their need, but it is also concerned about the latent wants of the consumers. This section contains various steps in a process of identifying the needs//

The process of identification of needs contains following steps.

Start up with the thorough research of the market to understand the habits, culture and lifestyle of the potential consumers.
Identification of the consumer dissatisfaction with the product choices available to satisfy a particular need.
Find the reason behind this dissatisfaction.
Identify the cultural and social norms of the potential market.
Apply the various qualitative ...

Solution Summary

The response addresses the queries posted in 468 words with references.

See Also This Related BrainMass Solution

Marketing and what it is?

Marketing is a basic function of all organizations. But what does marketing consist of? I need to explain what marketing is (what does marketing consist of, what are business are trying to accomplish with marketing) by using an example from the normal operation from a company like one that franchises a chain of fast food restaurants throughout the United States.

View Full Posting Details