Marketing strategy important

managing customer heterogeneity

1. Marketing activities
2. Individual differences
3. Life experience
4. Functional Needs
5. Self image

Managing consumer dynamics

1. Product lifecycle
2. Regular exposure to environmental context
3. Seminal events
4. Life stage
5. Knowledge

1. Resource slack
2. Changes in needs
3. Product lifecycle stages
4. product market landscape
5. effectiveness of marketing activities

1. extraversion
2. openness
3. conscientiousness
4. neuroticism
5. agreeableness

1. Reprocation
2. commitment
3. trust
4. gratitude

1. All benefits
2. favourable points of difference
3. Resonating focus

1. Advertising
2. Sales promotion
3. Personal selling
4. Direct marketing
5. Experiental marketing
6. PR
7. WOM

1. Use price structure to clarify advantage
2. wilfully overprice
3. partition prices
4. equalize price points to crystallize advantage

1. Lower imitation cists
2. Free-rider effect
3. Scope economies
4. Learning from pioneers mistakes
5. Scope economies
6. Shape & Influence consumer preferences

Economic analytical

1. Monopolist --> higher profit

2. Market position & learning curve

Behavioural perspective

1. Less resistance

2. More brand knowledge

3. First mover can influence values of attributes

4. Higher degree of customer awareness

1. Attractive pricing
2. Harness power of data
3. Avoid direct price comparisons
4. Learn to sell niche products
5. Emphasize product knowledge
6. Establish switching costs
7. Embrace competition

1. Relative advantage
2. Comparability
3. Complexity
4. Triability
5. Observability

1. Level of product involvement
2. Product usage
3. benefits sought
4. personality related factors

1. First mover trap
2. Quality trap
3. Empire building trap
4. white space trap
5. superiority trap
6. sporadic innovation trap
7. hostage resources trap

1. Conduct market research
2. sense market from innovators
3. know specific needs of customers
4. have broader perspective on other customer segments

1. Based on customer needs
2. Different than other segments
3. differences match firms competencies
4. sustainable 
5. identifiable customers
6. financially viable