2,3,4

Sabrina Mikhaela Canindo · 42問 · 1年前

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Are the individuals or businesses that purchases goods or services from another business.

Customers

Are important because they drive revenues; without them, businesses cannot continue to exist.

Customers

2 Types of Customers

External, Internal

Are dissociated from business operations and are often the parties interested in purchasing the final goods and services produced by a company.

External Customers

Are individuals or businesses integrated into business operations, often existing as employees or other functional groups within the company.

Internal Customers

3 Main Types of Customer Needs

Functional Needs, Social Needs, Emotional Needs

Are the most tangible and obvious of the three main types of customer needs.

Functional Needs

Can be broad or extremely specific, depending on the customer’s buying criteria.

Functional Needs

Customers typically evaluate potential solutions based on whether they’ll help them achieve a particular task or function.

Functional Needs

A customer need that relates to how a person wants to be perceived by others when using a product or service.

Social Needs

While they aren't typically a customer's primary considering they can concern when a purchase, influence their final decision.

Social Needs

Are similar to social needs in that they’re typically secondary to functional needs.

Emotional Needs

Refer to how a customer wants to feel.

Emotional Needs

While they can be difficult to pinpoint, companies that identify those of their customers can use the information to tailor and optimize their product messaging.

Emotional Needs

10 things you need to know about your customer

Who they are, What they do, Why they buy, When they buy, How they buy, How much money they have, What makes them feel good about buying, What they expect of you, What they think about you, What they think about your competitors

Is the process of presenting a concept for a product to its target market and learn from those prospective buyers whether or not the idea is worth pursuing.

Market Validation

This process typically takes place early-on in the conception stage, before any significant investment has been made in developing the product.

Market Validation

The two most common approaches to market validations are:

Interview people in the target market, such as the buyer and user personas., Send out surveys to these personas.

The key is that it must include direct contact and feedback from people in the product's intended market.

Market Validation Research

Its value is that your organization can uncover those problems before committing any significant time or resources to a product concept.

Market Validation

Can seem mysterious, but all consumers go through basic steps when making a purchase to determine what products and services will best fit their needs.

Consumer Decision-Making Process

5 Steps in Consumer Decision-Making Process:

Problem Recognition, Information Search, Alternatives Evaluation, Purchase Decision, Post-Purchase Decision Evaluation

The first step of the consumer decision-making process is recognizing the need for a service or product.

Problem Recognition

When researching their options, consumers again rely on internal and external factors, as well as past interactions with a product or brand, both positive and negative.

Information Search

In this stage, they may browse through options at a physical location or consult online resources, such as Google or customer reviews.

Information Search

At this point in the consumer decision-making process, prospective buyers have developed criteria for what they want in a product.

Alternatives Evaluation

Once they have gathered all the facts, including feedback from previous customers, consumers should arrive at a logical conclusion on the product or service to purchase. This is the moment the consumer has been waiting for: the actual purchase.

Purchase Decision

This part of the consumer decision-making process involves reflection from both the consumer and the seller.

Post-Purchase Decision Evaluation

It is an important part of any business or marketing plan.

Value Proposition

It tells customers about a product or service’s unique benefits and value.

Value Proposition

It defines the problem the product or service solves, the advantages it offers, and why it stands out from its competitors.

Value Proposition

It should be clear, short, and easy to understand.

Value Proposition

It should address the needs and pain points of the target audience.

Value Proposition

It is a key part of getting and keeping customers, making more sales, and growing a business.

Value Proposition

Elements of a Compelling Value Proposition:

Target Audience, Problem, Unique Benefits, Differentiation, Proof

A clear understanding of this is essential to crafting a value proposition that resonates with potential customers.

Target Audience

Articulating this that the product or service solves is critical in helping potential customers understand the value of the offering.

Problem

Clearly communicating these of the product or service helps to differentiate it from competitors and demonstrates the value it provides to customers.

Unique Benefits

Highlighting how the product or service differs from other solutions available in the market helps businesses stand out and attract customers looking for a specific solution.

Differentiation

Providing this of the value of the product or service through testimonials, case studies, or other evidence helps to build trust and credibility with potential customers.

Proof

Crafting a Value Proposition:

Identify the Target Audience, Research the Competition, Define the Problem, Highlight Unique Benefits, Refine the Messaging, Test and Refine, Implement and Evaluate

Determine who the ideal customer is and what their pain points and needs are.

Identify the Target Audience

Analyze what the competition offers and identify gaps in the market that can be addressed.

Research the Competition

Clearly articulate the problem that the product or service solves, and how it addresses the needs of the target audience.

Define the Problem

Identify and communicate the unique benefits that the product or service provides, and how they differ from competitors.

Highlight Unique Benefits

Craft a clear, concise, and compelling message that resonates with the target audience, using language that is easy to understand and jargon-free.

Refine the Messaging

Test the value proposition with potential customers and refine the messaging based on feedback.

Test and Refine

Implement the value proposition and evaluate its effectiveness over time, making adjustments as necessary.

Implement and Evaluate

Optimizing Your Value Proposition for Search Engines:

Use Relevant Keywords, Be Concise, Use Meta Descriptions, Use Schema Markup, Monitor and Adjust

Identify these that potential customers use to search for products or services similar to yours, and incorporate them into your value proposition.

Use Relevant Keywords

Search engines favor concise and specific language, so keep your value proposition brief and to the point.

Be Concise

Include this that accurately summarizes your value proposition and includes relevant keywords.

Use Meta Descriptions

Implement this on your website to provide search engines with structured data that helps them understand the content of your site.

Use Schema Markup

Regularly monitor the performance of your value proposition using analytics tools, and make adjustments as necessary to improve its effectiveness.

Monitor and Adjust

"To bring inspiration and innovation to every athlete in the world."

Nike

"To refresh the world...in body, mind, and spirit. To inspire moments of optimism and happiness... To create value and make a difference."

Coca-Cola

"The world on time."

FedEx

"Earth's most customer-centric company. When we say we want to be the world's most customer-centric company, we want to make it true in every way possible."

Amazon

"To organize the world's information and make it universally accessible and useful."

Google

It is the sum of all the buyers and sellers in the area or region under consideration.

Market

It is the value, cost, and price of items traded as per forces of supply and demand in a market.

Market

It may be a physical entity, or may be virtual.

Market

The monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation to avoid strategic surprise and ensure the long-term health of the firm.

Environmental Scanning

External Environment:

The Organization, Public Pressure Groups, Suppliers, Customers, Competitors, Economic, Global, Political/Legal, Sociocultural, Technological, Demographics

Societal Environment:

Economic, Technological, Political/Legal, Sociocultural

It is a tool to identify and assess the attractiveness of business opportunity.

Market Analysis

Dimension Of Market Analysis:

Market Size, Market Segment, Market Trends, Market Growth Rate, Market Profitability, Industry Cost Failure, Distribution Channel, Key Success Factors

Market Size:

Total Annual Size, Current and Future Market Size

Market Segment:

Geography and Location, Customer Segment

Market Grow Rate:

Market Condition, Sales Growth of Complimentary Products, Product Life Cycle

Market Profitability:

Potential Profit, Factors that affect the Market Profitability

Porter’s 5 Forces Models:

Competitive Rivalry, Supplier Power (Market Pull), Buyer Power (Market Pull), Threat of New Entry (Technology Push), Threat of Substitution (Technology Push)

Technology Push VS. Market Pull

Research & Development (Technology Push), Supplier/Vendor Initiatives (Technology Push), Political-Legal-Medical (Innovation), Buyer/Customer Needs & Wants (Demand Pull), Economic/Marketing Forces (Demand Pull)

It is the method used to sort potential clients forsalesand marketing campaigns, advertising and promotions using income, demographic, and lifestyle characteristics of a market and census information.

Target Market Identification

It divides a market into well-defined slices.

Market Segmentation

It consists of a group of customers who share similar set of needs and wants.

Market Segment

It is to identify the appropriate number of nature of market segment and decide which one(s) to target.

Marketer's Task

Demographic Characteristics:

Age, Sex, Income, Education, Stages in Life Cycle, Social Class, Occupation, Religion, Race

Physiological Characteristics:

Personality, Lifestyle

Behavioral Characteristics:

Knowledge of Product, Attitude towards Product, Use of Product, Response to Product

Geographic Characteristics:

Rural, Urban, Rural, Suburban, Region, Climate, City Size, Population Density

Enumeration

Enumeration

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Identification

Identification

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Chapter 1

Chapter 1

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C1 part 2

C1 part 2

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Chap 1&2

Chap 1&2

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Chap 3&4

Chap 3&4

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HUM

HUM

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Lesson 2,3,4,5,6,7

Lesson 2,3,4,5,6,7

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Chap 1,2

Chap 1,2

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Lesson 1

Lesson 1

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Chap 3,4

Chap 3,4

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Chapter 2

Chapter 2

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Lesson 1&2

Lesson 1&2

Chapter 3

Chapter 3

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Lesson 3&4

Lesson 3&4

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Chapter 4

Chapter 4

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Lesson 5,6&7

Lesson 5,6&7

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(2)

(2)

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Chapter 5

Chapter 5

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CE215

CE215

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MTE4

MTE4

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HUM

HUM

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DRAW

DRAW

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ECON

ECON

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Chap1

Chap1

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MECH

MECH

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chap2

chap2

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draw

draw

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Enumeration

Enumeration

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ttr

ttr

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g ycu

g ycu

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ENUMERATION

ENUMERATION

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Enumeration

Enumeration

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Enumeration

Enumeration

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5-8

5-8

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Chapter 5

Chapter 5

Chap 6

Chap 6

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Enumeration

Enumeration

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Enu2

Enu2

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Chap 7

Chap 7

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Enumeration

Enumeration

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Chap 8

Chap 8

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chap9

chap9

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Natural and Forest Resources

Natural and Forest Resources

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ECON

ECON

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Water and Mineral Resources

Water and Mineral Resources

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MTE4 PREFI

MTE4 PREFI

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Food, Energy, Land Resources

Food, Energy, Land Resources

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HUM PREFI

HUM PREFI

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CE215 PREFI

CE215 PREFI

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Enumeration

Enumeration

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8,9

8,9

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10,11

10,11

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L10

L10

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L11

L11

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Identification

Identification

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Ident

Ident

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enu

enu

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officials

officials

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events

events

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Enumeration

Enumeration

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1-5

1-5

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enu 2

enu 2

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ENU

ENU

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midterm

midterm

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2.1

2.1

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Mech E3

Mech E3

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Techno

Techno

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enu L1

enu L1

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Mech E2

Mech E2

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1-5

1-5

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Book

Book

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Hum 3

Hum 3

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Obtaining Data

Obtaining Data

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