Does the product meet the needs and wants of a specific segment of the market?
a. What is the market? Retail Clothing
b. What is the target market? Outdoor/Casual Clothing
In this market are direct competitors such as LL Bean, Land's End and REI and indirect competitors such as Scheels, Dick's and Fin & Feather.
c. What are the needs and wants of the target market? Convenience, Price, Selection, Trust, Security, Service, Returns, Durability, Style, Fit, Technical Features
§ If the answer to 1 is "no," the product will fail. YES
What is the meaning of the product to consumers? (Product Positioning)
a. How do consumers make the buying decision? (see Buyer Behavior Flow Chart) Steps: Price > Selection > Convenience > Technical Features > Style > Returns
b. What are the evaluative dimensions that consumers use to choose among brands? Technical features, Style, Returns
c. Where do consumers evaluate the product on the main dimensions? Eddie Bauer is low on technical, has traditional style and easy returns
§ If the answer to 2 is "no meaning," the product will probably fail. YES
How can the product positioning be substantiated with product features?
a. What is the core benefit proposition? An outdoor clothing store with non-technical, traditionally-styled clothing where returns are easy
b. How can the product be designed to deliver the product promises? Three ways of buying: catalog, Internet, physical stores
§ If the promises are not met, the product will lose its meaning and probably fail. MET
Given a product strategy (1-3), what is a logically consistent strategy for the tactical marketing mix variables? Consider price, place, and promotion in that order.
a. Product positioning implies price. Penetration pricing
b. A product/price strategy implies place. ntensive distribution (all Internet marketing is intensive unless restricted access)
c. A product/price/place strategy implies promotion. Pull promotion with message that reflects the CBP: outdoor clothing store with non-technical, traditionally-styled clothing where returns are easy
§ If there are inconsistencies, the product may be less successful. NO INCONSISTENCIES
Does the marketing plan follow MAGIC strategies?
§ If not, the plan can be matched and the competitive advantages lost. YES, Domain name, trademark, unique capability, inconsistent promotion (easy returns)