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THE THREE Hs

9 November, 2015 - 11:43

(1) How do consumers learn about the product? Who are the opinion leaders, market leaders, and sources of authoritative recommendations? Recommendation by word of mouth is said to be the most persuasive form of advertising in most cultures. How can word-of-mouth endorsements be encouraged? What promotional strategies can be used to persuade industrial consumers to prefer a particular product?

(2) How do customers buy products? What are a customer's requirements for service at the time of purchase (help in selection, credit, delivery) and, particularly in the case of industrial consumers, after the purchase?

(3) How many potential customers are there? Once consumers have been analyzed, they should be counted. The count should be broken down on both a geographical and an economic basis.