In: Operations Management
Formulating problem solutions to identify possible consumer complaints or issues with new products, do you think the company should consider the consumer when defining customer expectations, preferences and possible issues? Or specifically use their demographics to develop the new product or service?
In the service industry, retail and even in digital commerce the satisfactory level of the customers are to be known with regards to the product, services by following solutions:
Demographics to develop the new product:
Need of the consumers: produce or launch those product which meet the need of the different classes, taste and with different purchasing power.
For example: Classes such as lower , middle or higher class depends upon the income or economy. secondly the saree is mainly wear in india , it cannot produce in U.S ,so the saree manufacturing factory cannot open there in U.S because of less demand.
The age, income , popularity, economy of scale etc are important while introducing the new product.
Example: Kelloggs earlier mainly available in cereals or rice bran cereals for health purpose , but now it is available for different age group members such as Frooti loop, CHetoos etc for children snacks. also different brands are available in for different prices or ranges.