BU412 Chapter Notes - Chapter 3: Swot Analysis, Starbucks, Competitor Analysis
Document Summary
As competition intensifies in the service sector, it is becoming ever more important for service organizations to differentiate their products in ways that are meaningful to customers. Managers need to think systematically about all aspects of the service offering and emphasize competitive advantage of those attributes that will be valued by customers in their target segments. Includes an examination of the overall market characteristics, followed by an in-depth exploration of customer needs and related customer characteristics and behaviours. The market analysis tries to establish the attractiveness of the overall market and potential segments within. Specifically it looks at the overall size and growth of the market, the margins and profit potential, and demand levels and trends affecting the market. Firms should consider alternative ways of segmenting the market and make an assessment of the size and potential of different market segments. The customer needs analysis involves answering a few questions:
