Group 5 301 Framework Categories Evaluated

Group 5 301 Framework Categories Evaluated - Framework...

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Framework Outline Group 5 10/2/2011 Kevin, Kate, Holly, Will 1. Product/Service:          - What is the product/service bundle?          - What value does it add to the customer?          - How does it fit in with our other product offerings?          - How does it fulfill consumer needs? Core benefit?  How completely does our product fill the c’s needs? Critical  dimensions of positioning?  Differential advantage? 2. Segmentation/Targeting:          - What needs to consumers need to be fulfilled?          - How does our product fulfill customer’s needs?          - Who is our target market?          - On what basis do we segment consumer markets? -Geographic, demographic, psycho-graphic, behavioral?   WHY are we segmenting: cost vs. needs fit?  Characteristics of GOOD segs? 3. Buyer Behavior:          - Who is buying our product? - How much of our product is being bought at a time?          - When do consumers buy our product?          - Where do consumers buy our product most? - What information will the customer be able to access? How do they buy? Use? Assess?  Degree of involvement? How do we influence? 4. Market/Industry:          - What is the market structure? (monopoly, oligopoly, ect. .)          - Who sets the industry standard?          - What are the barriers to entry for this market? - What makes this market industry attractive to our company & product? - Is the market/industry in high demand? Size? Growth? Market Share?   This section is about POWER… Industry structure determines who has the power (and the profit). 5. Competition:          - Who is our direct/indirect competition?          - What is our competitor’s most probable course of action?          - What is our PDA? - What products are our competition selling and what is their pricing  strategy?          - Where is our competition located in relation to us?
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Framework Outline Group 5 10/2/2011 Kevin, Kate, Holly, Will - What are the strengths and weaknesses of our competition?   How do you know who your competitor(s) are?  6. Environment (SCPD):
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This note was uploaded on 01/31/2012 for the course MKT 301 taught by Professor Staff during the Fall '08 term at Miami University.

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Group 5 301 Framework Categories Evaluated - Framework...

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