Embedded Files
Three aspects of markets capture a large portion of the variation in the scope of markets: (I) the functions or uses of the product performed by the customer, (2) the technology contained in the product to provide the
desired function, and (3) the customer segment using the product; or perform a particular
function.7Customer Junction considers what the product or service does. It is the benefit provided to the customer. Thus, the function satisfies the needs of the customers. Functions relate to the types of use situations each user encounters/ In the case of athletic shoes, the function is the type of body movement of the person wearing the shoes. Also, multiple functions/benefits may be involved. The teenager living in the large city who buys two or three pairs of sneakers a month is meeting more than a body movement need. Different technologies may satisfy a customer function. Steel and aluminum meet a
similar need in various use situations. A technology consists of the materials and designs
incorporated into products. In the case of a service, technology relates to how the service
is rendered. Fax technology delivers a letter via electronic transmission. Federal Express
transports a letter by air. A courier hand carries a letter from the sender's location to the
recipient. ' Customer segment recognizes the diversity of the needs of customers for a particular product such as .automobiles. The same model and color of a brand won't satisfy all buyers' needs and wants. Two broad market segments for automobile use are households and organizations. These classifications can be further divided into more specific customer segments, such as preferences for European-style luxury sedans, four-wheel drive vehicles, and sports cars. It is helpful to focus on the consumer (or organizational) end-user of (he product when defining the market. The end-user drives demand for the product. When the end-users' needs and wants change, the market changes. Thus, even though a manufacÂturer considers the distributor to which its products are sold to be the customer, the market is really defined by the consumer and organizational end-users who consume the product
The strategic marketing process
Journal of Strategic Marketing
SMART is a custom marketing research
Page updated
Google Sites
Report abuse