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LSM522
Applied Marketing Strategy and Decision-making Tools

Course Journal

As you progress through this course, you keep a journal in which you answer marketing strategy questions about a product or service at your company. This Course Journal is for your personal use; you will not be asked to share it or submit it for review, although you will include excerpts from your Journal in the required final project that you submit at the end of the course.

This Course Journal document consists of four parts that you will complete in sections as you progress through the course. Save this document to a convenient location on your computer so you can easily access it later in the course.

Part One – Look at Your 3 Cs

Consider a product or service at your firm and answer each of the questions below.

1. Describe the customers for this product or service. BPO – Looking at all companies which are aiming at cost savings by outsourcing their current operations

2. What is the value proposition this product or service offers to these customers? Cost, Quality of delivery, Speed and Efficiency for deployment

3. Describe the competitors. Big brands, consulting based companies

Consider the three dimensions that are important to customers: price, product, and service.

1. Are you winning on one of those dimensions with the customers you identified? Which one(s)? Price & product

2. Are you losing on either or both of the other two? Which one(s)? Service – consulting capability

Part Two – Segment Your Market and Choose Your Target

Revisit the product or service on which you did your 3-Cs analysis in Part One. Now you will look at the market for that product or service, and apply what you have learned about segmentation and targeting. Later you will copy this

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