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Isb 3

The document discusses market structure analysis and opportunity identification. It covers topics like market definition, market segmentation, developing customer personas, and mapping the customer journey. Key points include Philip Kotler's definition of product market, examples of how companies define their markets differently, the importance of segmentation, developing segments based on customer needs and descriptors, creating user personas, and designing customer journey maps.

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Krishna Kishore
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Download as PDF, TXT or read online on Scribd
65 views

Isb 3

The document discusses market structure analysis and opportunity identification. It covers topics like market definition, market segmentation, developing customer personas, and mapping the customer journey. Key points include Philip Kotler's definition of product market, examples of how companies define their markets differently, the importance of segmentation, developing segments based on customer needs and descriptors, creating user personas, and designing customer journey maps.

Uploaded by

Krishna Kishore
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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PM: Product Management and Development

Week 3 – Market Structure Analysis and


Opportunity Identification
Module Overview
Learning Objectives
Learning Objectives
Learning Outcomes
Product Market
Traditional Product Market
Philip Kotler’s Definition of Product Market
Philip Kotler’s Definition of Product Market
Market Definition and Its Consequences
Product Market – Example 1

• Sony and Microsoft launched HD version of games.


• Nintendo introduced Wii at the same time but did not offer
HD features.
• Nintendo Wii included a thick handled device for gaming.
Nintendo’s Market Definition
Microsoft’s and Sony’s Plan
Nintendo vs Microsoft and Sony
Staged Adoption Strategy
Sony’s First HD PlayStation

• PlayStation was priced higher than the competitors.


• the PlayStation was a complete entertainment hub.
Sony vs Microsoft

• Sony faced losses since it wanted consumers buy its


products and vise versa.
• Many Wii customers also bought Sony/Microsoft product.
• If a customer bought PlayStation, they were highly unlikely
to buy Xbox and vice versa
Competitor Threat

• Company must pay close attention to its immediate


competitors.
• Company should also keep any eye on other relevant
competitors for they may become a threat overtime
Understanding Technological Changes
Market Definition – Example
Market Definition – Example 2

MagicJack:
• Market leader for VoIP calls
• Created app that made making VoIP calls using
smartphones easier and cheaper
• Provided superior value
Market Segmentation
Market Segmentation – The Example of Analgesic
Marriott’s Market Segmentation
Archetypes for Best Buy’s Most Valued Segments
Why Segmentation?
Customer Needs
Example: Business Education
Consumer Segments
Consumer Segments - Example
Consumer Segments - Example
Importance of Segmentation
Mass Marketing
One–to–One Marketing
Segmentation
Mass Customisation
Mass Customisation : Apple
Market Segmentation Matrix
Strategising Market Segmentation
Developing Market Segments
Segmentation of Female Skin-Care Market by Age
Segmentation of Female Skin-Care Market by Age
Segmentation of Female Skin-Care Market by Age
Segmentation of Female Skin-Care Market by Age
Segmentation of Female Skin-Care Market by Age
Important Points for Segmentation
Developing Market Segments
Developing Market Segments – Key Approaches
Developing Market Segments – Key Approaches
Examples of Customer Descriptor Variables
Examples of Customer Descriptor Variables and
Groups
How Not to Approach Market
Segmentation ?
How Not to Approach Market Segmentation
Criteria for Good Segmentation
Which Segments to Target?
Targeting Decisions
Step 1: List Attractive Factors
Step 1: List Attractive Factors
Step 2 : Identify Business Strengths
Step 2 : Identify Business Strengths
Step 3 : Match Business Strengths
Targeting Decisions
Targeting Decisions: An Example
Targeting Decisions: An Example
Targeting Decisions: An Example
Post Targeting Decisions
Customer Persona
Customer Persona
User Persona for Targeted Customers
Steps of Strategic Marketing
Customer Profile
Customer Profile in Digital Marketing
Characteristics of Good User Personas
Characteristics of Good User Personas
Characteristics of Good User Personas
Characteristics of Good User Personas
Customer – centric Marketing
Advantages of Building Detailed Personas
Advantages of Building Detailed Personas
Advantages of Building User Personas
How to Build Customer
Personas?
Building a Customer Persona
Factors to Include in a Customer Persona
Factor Categorisation
Example of a Customer Persona for a Car Company
Example of a Customer Persona for a Reading App
Example of a Customer Persona for a Health Club
Customer Journey
Customer Journey
Touchpoints in Customer Journey
Different Personas and Different Journeys
Customer Journey Map
Customer Interaction with Company
Salesforce.com Survey
Value of Customer Journey Mapping
How to Design a Customer Journey Map?
Customer’s Journey Timeline
Division Based on Strategic Categories
Example 1: Digital Customer Journey
Example 2: Customer Journey Map – The LEGO
Group
Example 3: Customer Journey Map – Customer
Perceptions Across a Credit Card Experience
Summary
Summary

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