BU121 Lecture Notes - Lecture 4: Value Proposition, Social Venture, Market Segmentation
Document Summary
Providing value: quality products at a reasonable price, encouraging innovation and creativity, gaining employee commitment. What is marketing? (cid:862)a(cid:374) i(cid:374)tegrated syste(cid:373) of a(cid:272)ti(cid:448)ities desig(cid:374)ed to pla(cid:374), pri(cid:272)e, pro(cid:373)ote a(cid:374)d distri(cid:271)ute, (cid:449)a(cid:374)t-satisfying goods a(cid:374)d ser(cid:448)i(cid:272)es to prese(cid:374)t a(cid:374)d pote(cid:374)tial (cid:272)usto(cid:373)ers(cid:863) Related to providing a want-satisfying good or service: must provide something the customer wants or needs your solution must fit with their problem. The set of value proposition benefits that you design to attract customers must fit with the set of customer segment characteristics that you assume, observe and verify in the market. Gains: the outcomes customers want to achieve or the concrete benefits that are seeking. Customer jobs: what customers are trying to get done in their work and in their lives, expressed in their own words. Pains: potential bad outcomes, risks, and obstacles related to customer jobs. Gains creator: how your products and services create customer gains. Pain relievrs: how your products and services alleviate customer pains.
