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Recap of Lecture 3

Recap of Lecture 3. Skill gap, Skill inefficiency, Skill deficiency HBR cases to be read by all MRTP & Competition Law very important. Product Levels. Core. The benefit the customer is really buying Eg : A hotel guest is buying “rest and sleep”. Basic.

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Recap of Lecture 3

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  1. Recap of Lecture 3

  2. Skill gap, Skill inefficiency, Skill deficiency • HBR cases to be read by all • MRTP & Competition Law very important

  3. Product Levels

  4. Core • The benefit the customer is really buying Eg: A hotel guest is buying “rest and sleep”

  5. Basic • Marketer turns core benefit into basic product. Eg: Bed, bathroom, towels etc.

  6. Expected • A set of attributes and conditions that a customer expects Clean bed, fresh towels, quietness, hot water availability etc.

  7. Augmented • Exceeds Customer expectation LCD tv, complimentary wine bottle, mini-bar

  8. Potential • Encompasses all possible augmentations and transformations the product or offering might undergo in the future Pool in every room, Underwater rooms

  9. Ideas • Phone vs PC • Tweets vs Pokes • Farm vs Industry

  10. Business Models are a necessity • Venture Capital presentation

  11. Thank You

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