THE CLIENT is the boss
Or at least.......let him think that!...
To meet the client demands you must must understand he won't give you all the information so you need to ask the right questions and then assess the situation.
Product positioning
- Assess something in relation to something else e.g. price and quality.
- You need to design for the market, a design that will sell itself.
Boston Matrix
Pest Analysis
Now.... 5 years.... 10 years....
SWOT Analysis
S+W = internal - can't undertake the strengths and weaknesses as you don't don't the internals of a company.
O+P = external - can comment on these as they are widely known as its in relation to the market, trends and the economy.
Product Life Cycle
Design audits
Market data and Market research
Quantitative:
- lots of questions, based on numbers
- 3 types : Geographic - where you live tells a lot about how you live
Psychographic - how you think determines what you buy
Socio-economic - your class and financial ability indicate what you will buy
Pros...
- detail/clarity
- statistical information
- objective
Cons...
- costly £15,000+
- complex and difficult to do
- needs careful control
Qualitative:
- the interview and focus group
- you discuss with those in the know about a market or issue that you need to understand
Pros...
- cheap - cost of a train ticket and a lunch!
- easily done
- offers a holistic view
Cons...
- no statistical validation
- subjective
- success depends on control of discussion
Secondary data/ Desk research
- covers data thats already being published
- care is needed
- huge amount of data
- need to focus on need of particular market
Market Segmentation
- breaking a market into distinct blocks by; age, sex, social class, geography, hobby/interest
Successful segmentation
Segmentation ensures successful targeting;
- measurable/ identifiable
- accessible
- substantial
- meaningful
My Thoughts
From this lecture I have learnt that there is many different ways and tools I can used to analyse an idea in relation to it's market; this may prove to be useful in the future as I could evaluate how successful an idea may be before launching it in to the market. These tools also make you think about the market more and what is already out there what could be a threat to your idea.
My Thoughts
From this lecture I have learnt that there is many different ways and tools I can used to analyse an idea in relation to it's market; this may prove to be useful in the future as I could evaluate how successful an idea may be before launching it in to the market. These tools also make you think about the market more and what is already out there what could be a threat to your idea.
