Flashcards
class notes 2
Cards in this deck (20)
- 1Role of Marketing in PLCearly stage : market absorbs what you do;
later stages : Marketing plays an important role - 2Scissors cigarattes1940-50 : super growth
1951-60 : Lower sales - 3Different ways to promote growthSegments
New channels
Repositioning
Innovation - 4Existing market Existing productMarket penetration:
is where from I will get the growth from - 5New segmentsTobacco : alternative to Hookah / Brand-B
Non-Tobacco - 6RepositioningScissors Change Image :
man of action - 7Innovation exampleSteve Jobs: Innovation is not about products alone;
Customer experience
Network effects using iTunes Store - 8What is DifferentiationYou have something;
Competition does not have it; - 9How can you create value?Lowering buyer cost
Increasing buyer performacne - 10Different but not Differentiated
- 11Different points of the Venn Diagramoverlap of all 3 circles - point of parity
overlap of you and customer - Differentiation
rest of your circle : not relevant to the customer (Different) - 12Bank examplesafety of deposits
Interest rates
netbanking
ATM network
...
....
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15th Parking!
today we are looking at 10th or 15th factor of differentiation - 13How do you deal in case there is a huge overlap between your product and competitionPorter's value chain:
look at customer value chain;
what can my product do to improve customer's value chain?
Ex. FedEx : deliver by 10:30 am (next day)
BBBk : guarantee of exterminating pests - 14What if customer does not consider you difference as relevant?Ex., AMD:
create awareness about power consumption and cooling factor; - 15Value: meaningBenefit - Cost
Get > Give
Value is relative; it is not absolute;
it is a comparison
Customers buy on Value :
Quality relative to Price - 16How to measure market perceived qualityQuality attributes:weight:comp. 1:comp. 2 : Ratio=1/2
sum the ratio*weight for different characteristics to get the
market perceived quality ratio
if score > 1 , my product superior to competition - 17How to measure market perceived price profileprice attr.: weight: company 1: company 2: ratio = comp2/comp1
multiply weights by ratios;
sum it up;
if score > 1, I am more expensive than competition - 18value map
- 19value map of competiton
- 20What is strategy?how to come below the line vis-a-vis product C?
you can do it several ways :
improve quality;
lower price;
change the slope of line !
(quality is better than price)
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- PSM Flashcards on class notes 2, created by Mukundhan Srinivasan on 18/10/2016.
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- Mukundhan Srinivasan
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