MGT 140 Lecture Notes - Lecture 4: Switching Barriers, Value Proposition

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30 May 2017
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Defines the competition at every level of hierarchy. Does not get at heart of competition or market definition. Competition is best defined by customer, not marketing manager. Budget competition: products competing for same budget dollars. Generic competition: products fulfilling same basic need. Product class/ category competition: products with similar features providing same basic function. Product form competition: narrowest form, includes products of same product type. Is the real problem that target aims to solve: drives the need to purchase product/service. Value proposition: not the list of features. Differentiation: to stand out as (cid:862)uni(cid:395)ue(cid:863) o(cid:396) (cid:862)(cid:271)ette(cid:396)(cid:863, uniqueness must have value. Interest: analyst reports, white papers, analyst/industry blogs. Industry publications: education, relevant case studies, roi/tco information, data/statistics, online videos, webcast/podcast. Consider: criteria/evaluation, solution brief, competitive comparison, online video demo, vendor solution white paper. Decide: validation and proof points, relevant case studies focuse: roi/tco, analyst research report (gmc, executive briefings, business impact calculator, customer references.

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