Downloadable materials (e.g., slides, pdfs, etc.) are available at the
elearning website.
Got a question?
Got a question or comment? Contact me at (335) 6354 or
bjohnmar@wsu.edu
CHECK THE "VIDEOS" SECTION FOR
NEW
UPLOADS
KNOW YOUR CUSTOMER
Vic Verma, president and chief executive officer of Savi Technology talks about how the biggest mistake when identifying a market segment is not identifying the customer with the purchasing power. Your original market can be narrow,
and will eventually grow, he says, but only if the correct customers are targeted. Find out who is making the final decisions about a purchase, he adds.
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NEEDS RESEARCH
Innovative potential is concentrated among lead users. How can they be
identified?
What is a lead user?
Prof. Eric von Hippel coined the term "lead user" in 1986 for a specific type of
user of a product or service having two characteristics: (1) They are at the
leading edge of important market trends and; (2) they have a strong incentive to
find solutions for the novel needs they encounter at the leading edge.
Due to these characteristics, research from numerous scholars has
repeatedly shown that:
Lead users often have to develop the new products and services they need for
themselves - they become user innovators;
Products that lead users develop often become the basis for important
commercial products when lead user needs become mainstream.
For Nov 4 Class
All groups
prepare to present the Marketing Audit SWOT presentation.
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TOOLKITS
Companies can equip their customers with virtual tools which
allow them to design their own product. How does this work?
