Question

Topic: Strategy

Product Appraisal

Posted by Anonymous on 10/18/2004 at 7:17 AM ET 50 Points
I have been asked to review a product from a customers point of view, does anybody have any reference papers that I could use as a start point. I am keen to try and include some customer centric theory etc.

To continue reading this question and the solution, sign up ... it's free!
SUBSCRIBE
Or, SIGN IN

RESPONSES

  • Posted by Carl Crawford on 10/18/2004 at 7:55 AM Member
    hi mwillett,

    you might want to try "value laddering". it is a techniques that i have recently learned. i actually asked a question about it a while ago and was able to get a great deal of information about it.

    if you want the info i will be glad to give it to you. just email me with a link to this question and the subject "KHE VALUE INFO".

    have a nice day

    Carl Crawford
  • Posted by Blaine Wilkerson on 10/18/2004 at 8:27 AM Member
    Have you ever bought anything? If so, why?

    Therein ies your answer. Customers do not go through extensive "value laddering" and complex theory. Usually it is a matter of a few things:

    1. Is it cool/fashionable?
    2. Can I afford to buy it?
    3. Will they like it? (as a gift)

    It's not very often people go into complex thought processes and plug the value of a shirt or a DVD into a formula and perform a calculation right there in the store.

    If you want it and have the money to buy it ,you most likely will do so.

    Approaching it this way is a customer's point of view, not by singing theories and practices taught to MARKETERS in college.

    I hope this helps!
  • Posted by Carl Crawford on 10/18/2004 at 8:51 AM Accepted
    jett,

    i understand that, but this technique would help mwillet get into the mind of the customer. it should enable him to clearly identify the reasons you stated above. it helps Marketers find the hidden reasons why they buy not just the ones that go in there head.

    if mwilliet id targeting the youth market he might not know why the customer buys what they buy, or why they think it is cool.

    it can help answer questions like:

    why do young men like to wear there pant low with there boxers showing?

    why do you decide to buy the Mac or the PC?

    what is the thinking behind buying the really nice car over going to university? (and yes i have seen it happen)


    oh and i am loading the email now, jsut checking for viruses and other stuff. they are quite large so you might want to make a bit of room in your inbox.

    Have a nice day

    Carl Crawford

    ps thanks to WMMA and D4Demand for providing the information i am sending you.
  • Posted by Chris Blackman on 10/18/2004 at 10:05 AM Member
    There are three possible approaches:

    1. Think about how you would behave as a customer for the subject product/service and mould your views according to your perceptions of the way the target demographic (segment) behaves; or,

    2. Run a series of focus groups with real potential customers selected from the target segments; or,

    3. Run a series of complex theory-based algorithms to deduce a mathematical model upon which the future of the business can be based.

    I think I know which one I prefer... (2) every time!

    However, if time/deadlines or budgets were the pressure du jour, I would go for (1) and take great care to remove personal bias and attempt very hard to second guess the target segment mindset.

    In my view, (3) is for the Ops research, college assignment and first year out of MBA marketers to risk their subsequent careers on.

    Over to you...

    Good luck!

    ChrisB
  • Posted by Chris Blackman on 10/18/2004 at 10:07 AM Member
    Wow.. that closed while I was still answering...
BACK TO TOP

Post a Comment

Related Discussions

Community Info

Top 25 Experts
(Strategy)