MGMT 105 Lecture Notes - Lecture 7: Comparative Advantage, Wheat Beer, Fax
Document Summary
Evaluaing sales potenial and structural atraciveness of a market segment; Size of sales from market segment and growth potenial. Choosing a target market strategy: segmening or combining; factors for choosing segment vs. combining. Tailoring products to the needs and preferences of individual customers. Has become feasible & cost efecive through communicaion media like email, fax & internet. Example: dell allows individual customizaion of computers online. Tailoring products to the needs and preferences of local customer groups. Too much combining is risky(cannot meet the needs of all people) Posiioning refers to how customers deine or think about a product on important atributes. Compeiion-based approach: start with a reference compeitor brand (similar to one"s brand) and then emphasize superiority. Customer-based approach: focus on how the disinguishing features create abstract beneits that match customers" goals. Compeiion-based perspecive of posiioning: establishing category membership & emphasizing points of diference; choosing the right points of diference or comparaive advantage.
