1. Where does IDEO get inspiration for its product designs?
Answer: I believe IDEO gets their inspiration from Thomas Edison and their consumers.
2. What kind of value do you think successful products deliver to consumers?
Answer: Successful products leads to a higher satisfaction to the consumer, which in return, produces a higher value for that product.
3. Why do you think having a product that simply works doesn’t always translate to consumer acceptance?
Answer: Consumers have both physical and psychological needs. If a product works but is unpleasant to that consumer in anyway then they will never accept it.
...view middle of the document...
Use the “2011 Ranking of Top 100 Brands” table to test the level of BoK of at least five people (excluding yourself). Examine and write a short reflection on how the extent of their knowledge varies with their lifestyles.
4. Your textbook refers to the concept of perceptual maps. Construct a perceptual map using the following two dimensions: (i) product ethnicity (low vs. high), and (ii) level of BoK (low vs. high). Choose at least ten brands or product categories to represent on the map. You may use the list of brands/categories available at the interbrand website to populate a list for the map. Use the information from question 3 to identify the average level of knowledge of product ethnicity and extent of BoK.
5. Using the information in question 3, how do you think a company can enhance its understanding of market segmentation so as to efficiently target a marketing message to its potential and existing consumers?
1. Predictive models used by Target identified in female shoppers changes in their purchase behavior that indicated they might be pregnant, including increased spending on supplements important to neonatal development as well as unscented soaps and lotions. What other changes in purchase behavior might indicate that a female shopper is expecting?
2. How does the use of collaborative analytics provide value to the consumer and help to facilitate exchanges between buyers and sellers?
Answer: The use of collaborative analytics gives marketers a better understanding of what consumers want and need.
3. Based on collaborative analytics, Target created targeted sales promotions for newly expectant mothers, such as mailing coupons to them for purchasing diapers or baby bottles. GPA, in Brazil, uses collaborative analytics to optimize prices for their various customer segments. These are only two of the four marketing mix variables. Can you think of other ways that companies might use collaborative analytics to fine-tune the other marketing mix variables?
4. GPA uses collaborative analytics to look at the shopping behavior of their customers. The next...