January 04, 2018

Thursday
TARGET MARKET
OBJECTIVE
• Determine the customer as target
market.
REVIEW
• They stated that value proposition
must be studied through the entire
value cycle.
• OSWTERWALDER & PIGNEUR
Value can be created in this stage by
developing, improving and
facilitating customer buying
experience.
• VALUE APPROPRIATION
When product value expires, how can
it be renewed?
• ADD MORE BENEFITS AND
FEATURES TO THE PRODUCT
TRUE OR FALSE
Perceived value and willingness to pay
are correlated.
• TRUE
What are the three consumer defined
values according to ZEITHAML?
• LOW PRICE
• QUALITY & VALUE FOR MONEY
• FEATURES
What is VALUE PROPOSITION?
Value proposition is a statement that clearly
identifies what benefits a customer will
receive by purchasing a particular product or
service from a vendor.
Overwhelm your senses with twice the sear-
sizzled beef patty and twice the melty cheese.

WHAT ARE THE ADVANTAGES OF VALUE

PROPOSITION?
VALUE PROPOSITION ADVANTAGES
1. Gives direction
2. Creates focus
3. Breeds confidence
4. Improves customer understanding and
engagement
5. Focuses on the clarity of business value
GUIDELINES IN DEVELOPING SELLING
PROPOSITION & VALUE PROPOSITION
1. Be specific.
2. Guarantee benefits.
3. Provide an easy way to test the product.
4. Let customer testify for the product.
WHAT IS TARGET MARKET
• Can be defined as the
potential buyer of the product.
• According to Philip Kotler,
target market is a well-defined
set of customers whose needs
the organization plans to
satisfy.
WHAT IS TARGET MARKET
• Business sectors identify and
describe them as the ultimate and
final users of the product.
CONSUMER
• A person who purchases goods and services
for personal use.

• An individual
who buys products or services for person-
al use and not for manufacture or resale.
CATEGORIES OF CONSUMER
• PRICE SHOPPERS- This group is interested in
the best deal for a product. They are commonly
called as PRAKTIKAL and price conscious.
• BRAND-LOYAL CUSTOMERS- This group
believes that their present brands are superior
to others and are willing to pay fair prices for
products just to acquire.
• STATUS SEEKERS- People who are interested
in prestigious or called (signature) brands or
known product categories and willing to pay
at any price.
• SERVICE OR FEATURE SHOPPERS- This
group seeks a high value on customer
service and product features and will pay for
them.
• CONVENIENCE SHOPPERS- People who
value nearby locations, long store hours
and are willing to pay for easier shopping.
APPLICATION
• Describe what kind of consumer you are and
why.
EVALUATION
Price shoppers are commonly called as
_______ and price conscious.
PRAKTIKAL
EVALUATION
• Brand-loyal customers believe that
their present brands are ______ to
others.
SUPERIOR
TRUE OR FALSE
Convenience shoppers seek a high
value on customer service and
product features.
FALSE
EVALUATION
What is TARGET MARKET?
• Target market is a well-defined set of
customers whose needs the
organization plans to satisfy.
 SEPTEMBER 12, 2017
TUESDAY
1896 - The "Thirteen Martyrs of Cavite,"
Filipino members of the revolutionary
Kataastaasang, Kagalanggalangang
Katipunan nang manga Anak nang
Bayan (KKK), are executed by Spanish
colonial authorities at Plaza de Armas,
near Fort San Felipe, Cavite City, 12:45
noontime.
REVIEW
• People who are interested in prestigious
or called (signature) brands or known
product categories and willing to pay at
any price.
• STATUS SEEKER
• MODEFIED TRUE/ FALSE
• According to Michael Lanning, target
market is a well-defined set of customers
whose needs the organization plans to
satisfy.
• FALSE- PHILIP KOTLER
• CONSUMER is a person who
purchases goods and services for
__________.
• PERSONAL USE
Which among the list is NOT one of the
advantages of VALUE PROPOSITION?
A. Gives direction
B. Delivers result
C. Breeds confidence
D. Creates focus
Describe the SERVICE OR FEATURE
SHOPPERS.

• This group seeks a high value on customer

service and product features and will pay
for them.
Why do you think some customers
are loyal to certain brands?
Is it about the quality of product
or customer service?
CUSTOMER REQUIREMENTS
 CUSTOMER REQUIREMENTS
Characteristics or specifications that
should be present in a product for it
to be deemed desirable by the
consumer.
OBJECTIVE
• Assessing customer’s requirements.
When determining the customer’s
requirements, consider the
following strategy:

CUSTOMER-FOCUSED BUSINESS STRATEGY

• Customer-focused strategies
place the spotlight on the people
that keep your business afloat --
your customers.
• These types of strategies are
designed to help you know who
your key customers are and
understand what entices them
to stay loyal while singing your
business's praises.
• Growing your business means
keeping customers happy, and
customer-focused strategies are
designed to accomplish this task.
WHAT CUSTOMER WANT?
1. Cross channel, cross-
lifecycle customer service
DIGITAL CHANNELS:
• WEB
• MOBILE
• SOCIAL NETWORKS
2. Support for their common customer
scenarios.
 FUZZY TV SCREEN

HOW TO ACTIVATE DIGITAL

CONVERTERS?
3. To find answers quickly and easily-
anywhere
4. Fresh answer, fresh knowledge

5. Forums for “how to” information.

6. Timely and responsive escalation.

COMPLETE THE CROSS-
LIFE CYCLE CUSTOMER
SERVICE.
plan
buy
maintain
CUSTOMER WANT

• Timely and responsive _______.

ESCALATION
• Give examples of popular digital
channels.
• WEB
• MOBILE
• SOCIAL NETWORKS
SEPTEMBER 13, 2017
WEDNESDAY
REVIEW
What are the popular digital channels?
• WEB
• MOBILE
• SOCIAL NETWORK
CUSTOMER REQUIREMENTS are
________ or ________ that should
be present in a product for it to be
deemed ________ by the consumer.
What business strategy can be used to
determine customer requirements?

CUSTOMER-FOCUSED BUSINESS
STRATEGY
What are the wants of customers?
 CUSTOMERS WANT EXCELLENT SELF-
SERVICE
• They expect that the company can
complete their work efficiently through
website. When they can not, they pick
up the telephone otherwise they will
see the seller personally.
• Can you name some companies
that provide similar self-help
options for customers?
TOOLS TO IDENTIFY AND AGREE REQUIREMENTS
WITH CUSTOMERS:
1. Interviews
2. Questionnaires
3. Focus Groups
4. Customer Requirements Analysis
5. Service Level Agreements
6. Customer Charters
• A service-level agreement (SLA) is
a contract between a service provider
and its internal or external customers
that documents what services the
provider will furnish and defines the
performance standards the provider is
obligated to meet.
• A customer service charter is a
description of the business that you
provide to customers, how it's
delivered to those customers, and
what are the expected outcomes
from a customer's perspective.
EasyJet (styled as easyJet; LSE: EZJ) is a British airline,
operating under the low-cost carrier model, based at London
Luton Airport.
Service providers must
understand not only how to fix
the equipment, but also how to
fix the customer.
PRACTICES OF SUCCESFUL SERVICE
PROVIDERS
1. Speak the same language as their
customers.
2. Know the appropriate individual(s) to deal
with respect fostering long-term customer
relation
3. Understand how the customer is using the
equipment
4. Understand the total costs that the
customer perceives to be associated
with equipment downtime.
5. Prepare to change along with the
customer’s evolving needs and
requirements for equipment service
and support.
• It is a description of the business
provided to customers, how it's
delivered to them, and what are the
expected outcomes from
a customer's perspective.
• CUSTOMER CHARTER
Modified TRUE/ FALSE
Understand the total revenue that the
customer perceives to be
associated with equipment
downtime.
FALSE – TOTAL COST
What are the examples of companies
that provide self-help options for
customers?
• CEBU PACIFIC
• BPI
 It is a contract between
a service provider and its internal or
external customers that documents
what services the provider will
furnish.
• SERVICE LEVEL AGREEMENT