Summary of video lectures from Marketing and Innovation (1ZM11).
This includes written summary of the concepts as well as screenshots of the most essential concepts and frameworks.
Marketing and innovation 1ZM110
TU/e Innovation management
Based on Video lectures given in Q3 2020/21
,Table of Contents
Lecture 1: Customer value .................................................................................................................. 1
Lecture 2: Market orientation ............................................................................................................ 5
Lecture 3: Marketing-R&D interface ................................................................................................... 9
Lecture 4: Markets as dynamic socio-cognitions .............................................................................. 12
Lecture 5: Market research and customer involvement - voice of the customer ............................ 15
Lecture 6: Adoption and diffusion .................................................................................................... 17
Lecture 7.1: Forecasting demand for new products ......................................................................... 23
Lecture 7.2: Chain ratio method and Bass model ............................................................................. 26
Lecture 7.3: Conjoint analysis ........................................................................................................... 30
Lecture 8.1: Market launch ............................................................................................................... 33
Lecture 8.2: Tactical launch decisions............................................................................................... 37
Lecture 9.1: Customer relationship management and branding...................................................... 40
Lecture 9.2: Branding and brand extension...................................................................................... 45
Lecture 10.1: Customer Lifetime value, Marketing accountability................................................... 49
Lecture 10.2: CLV, customer analytics .............................................................................................. 51
Lecture 10.3: Customer lifetime value .............................................................................................. 53
Lecture 10.4: CLV and innovation ..................................................................................................... 55
Lecture 11.1: Servitization and hybrid offerings ............................................................................... 56
Lecture 11.2: Planning for servitization ............................................................................................ 59
,Lecture 1: Customer value
Objectives:
• What is value?
• Means-end chain
• Methods to understand and enhance value
• New product as tradeoffs
• Value-in-use, co-creation and marketing's role
^^Based on two articles: Woodruff and Gourville
What is value?
Can be described as low price, utility.
Now we mean it is a tradeoff, and bundle of benefits.
With get and give components
"A customers perceived preference for and evaluation of those:
• Product attributes
• Attribute performance and
• Concequences
Arising from use that facilitate achiving the customer's goals and purposes in use situations." -
Woodruff
Means-end chain
1
, Instrumental values and terminal values:
New value opportunities: Corporate Social Responsibility
This is beaing used more and more as customer appreciate the extra social value due to their
investments.
Methods for understanding customer value:
• Customer need research (e.g focus group, lead users)
• Trade-off (conjoint analysis)
• Means end chain analysis (benefits sought) (laddering with interview computer - to give me
more time, 5 why's)
--> Output is input for (benefit) segmentation analysis
Customer value is important and think about selling solutions, and understand how customer find
out how it is a solution for them.
Customer value determination process:
2
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