Consumer and market
3 important questions on Consumer and market
What is the management process?
- The managerial process responsible for identifying, anticipating and satisfying consumer requirements profitability
What are the central concepts of marketing?
- Satisfying (identified) needs more effectively; - value change through market orientation - needs (what) vs. want (how) vs. demand (sacrifice)
- Competitve advantage from: - better understanding of consumers (needs) - more attractive offering (products & services) - better segmentation, tailoring & positioning (portfolio)
- Achieved through: - market/consumer orientation -focus on 'value exchange'
- Competitve advantage from: - better understanding of consumers (needs) - more attractive offering (products & services) - better segmentation, tailoring & positioning (portfolio)
- Achieved through: - market/consumer orientation -focus on 'value exchange'
What is overall cost leadership?
- Ensure low production and distribution costs
- Engineering, purchasing, manufacturing and physical distribution
- Engineering, purchasing, manufacturing and physical distribution
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