M T10 Customers Flashcards
1
Q
Market led
A
Product based on what the customer wants
High level of market research
Highly competitive markets
MM will be responsive in external factors
2
Q
Product led
A
Product based on what the business thinks they will want
Little market research, high levels of product r&d
Little competition
Unresponsive to external factors
(iPod)
3
Q
Consumer behaviour
A
Why do they buy?
Need/want
Types of purchase?
Routine/habitual (food/fuel)
Impulse
Informed (car)
How?
Cash
Credit
Store credit
Where?
Retail
E-commerce
Catalogues
