BU121 Lecture Notes - Lecture 5: Yield Management, Business Model Canvas, Adwords
Document Summary
Convince the customer that the product provides that unique benefit through consistent product, pricing, promotion, and distribution decisions: integrated system of activities. All parts of organization must have clear idea of the unique benefit: value proposition, clear and concise statement of products unique benefits and acts as glue that keeps decisions consistent. How will you continue to be competitive: product roadmap, how to slow down cycle and encourage new growth. Different customer segments will classify the same product differently. Consumers don"t even define product by features but a total package of benefits or value package. Understand product as seen from the eyes of the consumer and the entire experience they have with the product through: brand, packaging, promotion, customer relationship, place, accessibility, price, image or reputation, atmosphere, credit, delivery, warranty, service. A collection of perceptions in the mind of the consumer. Built only through effective communications or appealing logos and built through the total experience that the product offers.
