Recap of Lecture 3

Skill gap, Skill inefficiency, Skill deficiency Skill gap, Skill inefficiency, Skill deficiency HBR cases to be read by all HBR cases to be read by all MRTP & Competition Law very important MRTP & Competition Law very important

Product Levels Potential Augmented Expected Basic Core

Core The benefit the customer is really buying The benefit the customer is really buying Eg: A hotel guest is buying “rest and sleep”

Basic Marketer turns core benefit into basic product. Marketer turns core benefit into basic product. Eg: Bed, bathroom, towels etc.

Expected A set of attributes and conditions that a customer expects A set of attributes and conditions that a customer expects Clean bed, fresh towels, quietness, hot water availability etc.

Augmented Exceeds Customer expectation Exceeds Customer expectation LCD tv, complimentary wine bottle, mini- bar

Potential Encompasses all possible augmentations and transformations the product or offering might undergo in the future Encompasses all possible augmentations and transformations the product or offering might undergo in the future Pool in every room, Underwater rooms

Ideas Phone vs PC Phone vs PC Tweets vs Pokes Tweets vs Pokes Farm vs Industry Farm vs Industry

Business Models are a necessity Business Models are a necessity Venture Capital presentation Venture Capital presentation

Thank You