MRKT 354 Lecture Notes - Lecture 8: Airbnb, Food Truck, Carrying Cost
6 Dec 2017
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Document Summary
Total customer experience: purchase experience, information gathering, prioritizing needs, evaluating alternatives, order placement and payment, usage experiences, delivery and installation, product usage, product maintenance, product repair, replacement experiences, product upgrades, returns and warranties, product replacement, product disposal. Value creation: understand the customer, attract the customer, sell to the customer. Forms of value creation/ co-creation: survey and focus group, observation- empathetic design, observe real people in real-life situations, ex: videotaping shoppers putting groceries in and taken them out of trunks. Reduce waste and energy use: peer to peer network, create a network among customers to leverage they knowledge and capacities, sharing economy, airbnb, uber, two-sided market, ex: buying at a food truck. Person vendor: multi sided market: search engine, search engine platform, advertisers, consumers, current providers, brokers. Value-based pricing: customer needs, price sensitivity, competing products, business objectives relative strength. 2 primary considerations are cost to make, and desired profit margin. Price is then marked up by channel intermediaries.
