bikes simulation Flashcards
customer value heirarchy
attributes: what the product is –> consequences: what the product does for the user –> desired end status: personal or organizational goals
benefits
what features matter most to your customers, need to translate features to benefits
example: benefit would be lightweight so a feature that would bring this to customer would be carbon fiber material
customers buy features or benefits?
benefits
features
aspects of your product (technical and descriptive)
target market
higher end of conventional bike market
more affluent but not enough to afford current high end carbon fiber bikes (they want to own an elite bike at an affordable price)
importance of setting primary and secondary targets
allow balanced scorecard to evaluate marketing performance
how to estimate demand curve
survey potential customers
ask survey buyer how much they would buy at a certain price
demand projection =
of unit per salesperson * # of sales people employed for the quarter
fixed capacity
how much can the factory/manufacturer product (max amount)
determined by number of 3d printers
operating capacity
determines how much of fixed capacity is used
must always be less or equal to fixed capacity
overtime
paying more for slightly more production, used when too little operating capacity scheduled to prevent stock outs
stock outs
operating capacity too low and cannot meet demand
excess inventory
when operating capacity too high, leads to high sunk cost and maybe cash shortages
lean manufacturing
maximizing productivity while minimizing waste within operations (maximize operating capacity) –> minimize stock out
just in time manufacturing
production facility doesn’t put anything into inventory, as orders come in they are scheduled for production
