Describe the products that most customers prefer.
Given that satisfying customer demands is central to the survival of an organization, an
important question is, What do customers want? To specify exactly what they want is not
possible because their wants vary from industry to industry. However, it is possible to
identify some universal product attributes that most customers in most industries want.
Generally, other things being equal, most customers prefer the following:
• A lower price to a higher price
• High-quality products to low-quality products
• Quick service to slow service
• Products with many features to products with few features
• Products that are, as far as possible, customized or tailored to their unique needs
Obviously, the problem is that other things are not equal. For example, providing high
quality, quick service, after-sales service and support, products with many features, and
products that are customized raises costs and thus the price that must be charged to
cover costs. So customers’ demands for these attributes typically conflict with their
demands for low prices. Accordingly, customers must make a trade-off between price and