MKTG 471 Study Guide - Midterm Guide: Customer Satisfaction, Industrial Revolution, Customer Relationship Management
19 May 2018
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MKTG 471 Midterm
Product Modifications (3 types)
Quality: dependability and durability
Functional: versatility, effectiveness, convenience
Aesthetic: sensory appeal
Phases of new product development (7)
1. idea generation
2. screening
3. concept testing
4. business analysis
5. product development
6. test marketing
7. commercialization
4 Cs of customer centricity
Coordination
cooperation
capability
connection
the Innovation funnel
-Learn about customer needs and tech possibilities
-concept generation
-product design
-prototyping
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-pilot production
-manufacturing and release
Design Thinking
1. Empathize
2. Define
3. Ideate
4. Prototype
5. test
characteristics of design thinking
find simplicity in complexity
beauty and functionality
improving quality
creating
serving the needs of people
customer value equation
customer benefits - customer costs = value
evolution of marketing
production orientation: Industrial revolution
sales orientation: 1900s (Ford)
market orientation: now focus on consumers
growth share matrix
stars: products with dominant share of market and positive growth
find more resources at oneclass.com
find more resources at oneclass.com
