In: Economics
Please follow the directions and answer all questions properly. Type the answers please. NO hand written answer. This is a Marketing class. Thanks
Please write no more than 100 words for each question. The questions are about fast food chain “Chick-Fil-A. These questions were asked by my professor. Please make sure that answers are good. I would really appreciate. Thanks again.
Needs are the basic necessities of the individual required for his existence. For example food is the basic necessity and hence is a need for the Chick-Fil-A customers.
Need directed in a particular direction is termed as wants of the customers. For example, eating only pizza to satisfy the hunger is the want of Chick-Fil-A customers.
Demand is the want of the individual backed by an ability to pay. Fir example, every customer of Chick-Fil-A wants to have the special pizza worth INR 2000. But only those individuals who can afford to have 2000 worth pizza can demand for the same.
Value is the benefits provided to the customers over and above the cost paid. For instance Chick-Fil-A can provide value to the customers by offering comfortable ambience, drive thru option, complementary gifts like balloon and small toys for the customers and their kids.
By providing regular services and food to the customers, Check-Fil-A can only meet the expectations of the customers. But if they provide services like offering comfortable ambience, drive thru option, complementary gifts like balloon and small toys for the customers and their kids, they can exceed the expectations of the customers.
Check-Fil-A needs to provide something over and above the expectations of the customers, which is unique about them compared to the competitors. Thus they can amintain its level fo customer service and sustain its level of growth.