Writing Assignment 1- Customer Tribe Research Paper Business Essay (Essay Sample)

Writing Assignment 1- Customer Tribe Research Paper
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Writing Assignment 1- Customer Tribe Research Paper
Abstract
This study was conducted to understand the needs and wants of a customer in a given tribe. The research particularly examined the needs and wants of generation Y (millennials). To provide well-thought conclusions, three (3) interviewees participated in the study. The report is divided into three sections, where part A provides the demographics, psychographics, and lifestyle of generation Y (millennials). Part B provides the summary of the interview questions and the response provided. Part C is the conclusion drawn from the interview. It was found that most of customers in generation like to shop online. In addition, their shopping habits are determined by budget, advertisements, price, quality, and preferences.
Introduction
The customer is at the heart of every business. Hence, understanding the customers’ wants and needs is key to developing an exciting experience and a competitive advantage, which ensure the success of the business. A need is describe as something that solve a problem, while a want is something that seems nice to have (Teece, 2010). It is the responsibility of every businessperson to provide the customers with what they need and also help them understand what they need. Notably, to understand the customers’ needs it is crucial to understand factors that affect customers’ needs and wants, such as physiological factors, geographical factors, economic factors, social factors, psychological factors, scientific factors, habits and fashion, and demographical factors (Teece, 2010). Therefore, in business different factors drive customers towards making a purchase of products and services. The needs of the customer primarily determine whether and when to make a decision to buy certain products in the market. Research show that customers of different age have varying needs and wants. The research was focused on needs and wants for a specific group of people that are categorized into millennials. Millennials are those in the demographic cohort born in the late 1980s, 1990s, and early 2000 and during the internet age (Murdough, 2016). This demographic cohort is also referred to as generation Y.