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
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
