BU121 Lecture Notes - Lecture 6: Perceptual Mapping, Psychographic
Document Summary
Marketing is an integrated system of activities designed to plan, price, promote and distribute, want-satisfying goods and services to present and potential customers. Related to providing a want-satisfying good and service: must provide something the customer wants or needs your solution must fit with their problem. But the key is that it is needed or wanted: you must provide a unique benefit that the competition does not provide. Rules: write down your assumptions about the customer, the problem, and the solution, be careful who you interview, first focus on the customer and the problem. Don"t think about the solution you are offering. Only after you thoroughly understand the customer and the problem should you present your solution. Sit back and listen to their reaction to it. Don"t ask if they will buy it. Steps to defining a target market: market segmentation, perceptual mapping, preference analysis.
