Reference no: EM133102970
Consumer Report
The Consumer Report illustrates the aspects of your product offerings that are important to your consumers. In this exercise, you will "grade" your product based upon how well it is meeting the customer expectations. Keep in mind that the customer buying criteria represents the "perfect product" in the eyes of the consumer. However, supplying the perfect product may not always be feasible or cost effective for your company.
You will need:
- The two Segment Analysis reports (pages 5 and 6) in the Round 0 Foundation FastTrack.
In the customer buying criteria, (located on pages 5 and 6 of the Segment Analysis reports) you will find a range for both price and reliability (MTBF) that customers find acceptable.
In the "Top Products" section (located at the very bottom of the segment analysis report), you will find your product's current price and MTBF.
Based on where your price and reliability (MTBF) fall within that range, you will assign a "grade." For example, if the list price of your product is $31 while the acceptable range is $15-$35, then it would fall in the top of the range and earn a "C" grade.
The chart below breaks down the price and reliability ranges from the customer buying criteria for the Low Tech segment with a corresponding grade. You will need to do a similar analysis for each segment
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Product Information
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To score an A
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To score a B
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To score a C
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Price*
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$15.00- $21.66
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$21.67 - $28.33
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$28.34 - $35.00
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Reliability*
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18,002 - 20,000
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16,001 - 18,001
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14,000 - 16,000
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Age
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0.5 year away from ideal
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0.6 to 1 year away from ideal
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1+ years away from ideal
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Positioning
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0.5 away from ideal
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0.6 - 1.5 away from ideal
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1.5+ away from ideal
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Awareness
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81% - 100%
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50% - 80%
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0% - 49%
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Accessibility
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81% - 100%
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50% - 80%
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0% - 49%
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Overall (The top two buying criteria is listed in the Foundation FastTrack Segment Analysis reports)
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The top two buying criteria for the segment were rated A and the awareness and accessibility were rated at least a B.
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The top two buying criteria for the segment were rated B and the awareness and accessibility were rated at least a B.
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If you are not able to meet the criteria to score an A or B, then your score will be a C.
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* Keep in mind that consumers want products with a low price and high reliability, so that will impact the "grade" that is assigned to your product.
Incomplete
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Low Tech
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Price
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Reliability
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Age
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Positioning
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Awareness
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Accessibility
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Overall
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High Tech
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Price
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Reliability
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Age
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Positioning
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Awareness
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Accessibility
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Overall
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The Round 0 Foundation FastTrack