The aim of marketing is to know and understand the customer so well that the product or service fits him or her and sells itself." (Drucker) Produce arguments for and against this statement..
Thus by identifying and pleasing customer needs this will lead to satisfaction of current customers and the attraction of new customers. For example, when Sony invented its Play Station, Gillette its Mach III razor, and Nintendo its Wii all three companies designed a product that customers desired so much they were inundated with orders before the products reached retailers (Kolter & Keller 2006).
Furthermore, by dividing consumers into groups of people that share the same needs, businesses are able to concentrate their efforts contributing to marketing success (Kennedy 2000). In 2003 Starbucks and Pepsi found and exploited the gap in the market for ready-to-drink coffee products. This proved a successful venture for the businesses and they are now market leader in the industry. However, it was not as simple as identifying customers needs. Starbucks and Pepsi produced marketing campaigns that would enhance people’s…