Problem Solving Concepts

Question 1

how to reduce perceived risk

Answer 1

performance
social
psychological (feelings of pleasure & reward)
financial

Question 2

what if you lose an advantage ?

Answer 2

1/ get a new one

2. build a new consumer or operating advantage internally (building satellies)
3. purchase new adv. (technology)
4. hire existing consumer / operating adv ( hire a team)

Question 3

what tool do we use to position the company

Answer 3

1. mental picture _ market map

Question 4

how to construct a market map

Answer 4

1. dimensions (attribute - unique selling proposition; ex. city dwellers. 2-3 attributes is the best amount i.e market locations)
2. products (Product location)
3. consumers (consumer needs)

Question 5

example of a market map (axises?)

Answer 5

vertical (large vs. small)

horizontal (luxury vs. plain)