Given the information shown below (from a screen shot of Market Study 15 at decision period 0, or round 0, which your team will have access to in making your Period 1 decisions), what are the top 3 most important attributes as demanded by market segments Alpha and Epsilon, respectively? How would you use this information in various pertinent aspects of strategic marketing decision-making? (10 points)
Your Answer:
The top 3 attributes for Alpha:
The top 3 attributes for Epsilon:
Decision-making implications:
Question 7: On Attribute Perception
Below is a screen shot of Market Study 14 (see page 19 of the Student Guide), which lists the ideal values (or needs) for all 5 segments on 6 product attributes and the performance values of all products in the market on all the attributes. This would be a great tool for analyzing your products’ market and relative competitive performances. For example, the ideal Speed level for Segment Alpha (Segment 1) is at level 12.4, while the actual Speed levels for products Faldo and Fano are -12.9 and 11.4, respectively. You may use the absolute “Performance – Need” difference score to represent a product’s ability to meet customers’ need on an attribute, assuming major departures in either direction are increasingly bad. Please note that the values shown in Report 14 all range from -25 to +25; these are non-dimensional (or standardized) values converted from the original attribute scales for easiness of comparisons of product performances across attributes. The original scales are shown in Report 9.
The Performance - Need difference score for Faldo is: -12.9 - 12.4 = -25.3 (for an absolute value of 25.3; or being very far away from the ideal value).