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Lecture 3

MKTG 317 Lecture Notes - Lecture 3: A Reminder, Psychographic

Course Code
MKTG 317
Edmund Gee

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Alternatives & Recommendations 10/21/2015
Key Question
What is the key question/problem in Tot-Switch?
Focus your case on solving this problem
For Tot-switch: how are we going to get the product ot customers
A Reminder of the Segment
Title: Startup Daycare Centre
oCanada, Metropolitan, urban
oEstablish why this business would be interested in this
oHow is this business going to use the product
oUsage: new task buy, modified rebuy, straight rebuy and
explain why it is one of these 3
Don’t use name of company—but can mention industry
Demo = industry, size
Which alternatives address the key question?
oWhat about for the Tot-Switch Case
Steps to creating an alternative:
oExplain what the alternative actually is
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oApply 3-5 unique course concepts and exact terminology
accurately, specifically, and relate it to the case (use action
Ideas for course concept application (each one counts as 1 point):
oMarket research (specify which kind)
oProduct layers model
Only need to talk about one layer
oProduct life cycle
oFour “Is” of service
oRate of Adoption factors
oNO Price, place, or promotion concepts
The company should do [course concept] by doing [specific action]
because [benefit].
Alternative Example
Market Development with Startup Daycare Center
Tot-Switch should pursue market development with Startup
daycare center. Tot switch should implement this strategy through
offering its current product, their child-friendly light switch addition,
to businesses identified to be within this target segment
Tot switch should conduct primary market research through
focus groups, consisting of owners of these startup daycare
centres. Key things to be identified through these focus groups
should be the price these businesses would be willing to pay for
the product and their satisfaction with the existing design of the
product. Financial incentives, such as give cards should be
provided as incentives to participate
oPrice is okay here because you aren’t telling them to change
their pricing policies
Tot-switch should alter the product to better address the identified
needs and wants of the target segment. For example, they should
alter the augmented product layer to include a detailed
installation/assembly manual to ensure that the product is as easy
to install and operate as possible
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