Reference no: EM131721113
Problem - Respond to the discussion below (1-2 paragraphs) by entering "thought provoking question(s)," "unique answers or alternatives," "interesting related insights or experiences," "challenging thoughts," or "objective reaction." Students must provide proper APA formatted references.
Business success is driven by volume of sales. Volume of sales in turn is driven by customer satisfaction with the products and or services provided by a company. The selection of Products and/or Services created and provided by a company is driven or determined by the wants or needs which the company executives believe are required by the specific market(s) they wish to target. These wants and needs which a company believes are in demand by the target market are in turn driven by presumed gaps in availability of the product, or of perhaps the quality or higher demand than availability of said products and/or services.
Given this brief synopsis above, it stands to reason then that a detailed and comprehensive understanding of the drivers and motivators of the target market would although an organization to more accurately develop products and services which are truly in demand by their future customers.
A government contract, for example, through which the Army purchases transceiver radio systems, may not go to the lowest bidder. In this scenario, the lowest bidder may provide the Army with radio systems which while work, do not have the requisite range or perhaps clarity of voice reception required. The Army in this example, given that clear communications are their paramount need, may prefer a radio that uses higher end crystals which provide much sharper and clearer transmission and reception of voice communications, over a cheaper radio with a lower quality crystal but which may have a higher power output provided somewhat further range.
As such, I'd suggest that VAL's could be used in all parts of the world IF it was targeted at governmental organizations which are responsible for providing a minimal standard fo living for their citizens. However, the VALs analysis wouldn't be appropriate if targeted at individual users of many 3rd world countries wherein the citizens are focused on securing the very lowest level of Maslow's Hierarchy of needs.
As for types of products in which VAL's could be useful, I'd argue that understanding ANY target market better will help sell ones products and or services, so in this case, VAL's could be useful for a plethora of products. However, I'd further argue that VAL's analysis would be especially useful in the sale of vanity products like higher end cars, real estate, etc.
The VAL's assessment determined my primary group as being "Thinkers" and secondary "Achievers". On reviewing the labels it attached, I'd agree that most were accurate, except that I don't suffer analysis paralysis, nor do I believe money is the root of authority. I was surprised, given my answers that my primary group was not "Believers", as it is my belief in the God of the Bible on which I base my decisions and positions.
All in all, a very interesting activity.