SMG SM 131 Lecture Notes - Lecture 11: Customer Retention, Wii, Schneider Electric

• School: Boston University
• Department: School of Management
• Course: SMG SM 131
• Professor: Kabrina Chang

Document Summary

Marketing analysis: what do marketers of kayaks need to know about: competition, price, consumers, context/trends, economy. Consumers: market size, usage frequency, motives, where they buy, demographics, importance of features. Competitors: number strengths and weaknesses, products offered. How do we segment the market: divide market up into similar groups of customers with similar needs. Which segment should we target: older people w/o children and younger group (us in four years) How do we position the produce to appeal to this segment. Low vs. high price and easy vs. difficult to transport. Includes packaging, services provided, and brand meaning: origami associated with being perfect/beautiful, small, light, zen. Price at more than costs to make. Communicating to costumer what product all about. Online blog posts to connect brand with particular lifestyle: connect to all aspects of brand fitting into your life. Schneider electric builds relationship with other companies. Habitat for humanity volunteer and in return feel good about yourself: not a monetary exchange.