What may be appropriate Customer Perceived Value of this new product?
Customer Perceived Value is the customer’s evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers. This conveys that CPV should be higher than the cost of the product plus the costs to acquire it. However, customers often do not judge the values and costs accurately. (Lets try to add this sentence into the next paragraph)
Since CPV is known to be the values that customers give up to acquire from buying the product, the benefits that customers could receive from Spectrum Band compared to the other products are the convenience of having one single app for multiple use, such as to store both the results …show more content…
It can direct its marketing activity through personal selling towards the professional physicians to get them to carry the Spectrum Band and promote it to their patients. TechMark should bring the focus of its personal selling to the relationship instead of the transaction. This means that as the marketer, physicians should direct its focus to the customers and not on each sale. Further, physicians should be able to listen to the customer’s needs because each customer matters. By using personal selling, this can really help TechMark promote its products since physicians have a lot of contacts and test results from the different diabetes and cholesterol levels patients. Other than that, physicians could also help promoting it to any patient who wants to start having a healthy …show more content…
Describe the content of communications to be sent— and if more than one segment exists then describe the content of communications to each segment. That is, discuss what you want to communicate about the Spectrum product to each segment.
Adopting the concept of integrated marketing communication could bring a competitive advantage for TechMark. This means that using different communication channels would not be a problem knowing that TechMark will deliver a clear, consistent and compelling message about its product to different segments.
First of all, TechMark would want to clarify to both of the segments, including professionals and home use market, that there are two distinct products that complement each other. The advantage of having both of the products is that they could sync into a single app, which helps customers to evaluate the results of their activities and blood levels at the same time.
For the physician, TechMark could explain that Spectra Track is used to monitor patient’s blood level and could give the physician immediate results. The results can be printed out and sent out to the patients for immediate consulting. Further, professional physicians can ask the patient to have the Spectrum Band to make sure that patient could monitor their own daily activities and blood
Customer Perceived Value is the customer’s evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers. This conveys that CPV should be higher than the cost of the product plus the costs to acquire it. However, customers often do not judge the values and costs accurately. (Lets try to add this sentence into the next paragraph)
Since CPV is known to be the values that customers give up to acquire from buying the product, the benefits that customers could receive from Spectrum Band compared to the other products are the convenience of having one single app for multiple use, such as to store both the results …show more content…
It can direct its marketing activity through personal selling towards the professional physicians to get them to carry the Spectrum Band and promote it to their patients. TechMark should bring the focus of its personal selling to the relationship instead of the transaction. This means that as the marketer, physicians should direct its focus to the customers and not on each sale. Further, physicians should be able to listen to the customer’s needs because each customer matters. By using personal selling, this can really help TechMark promote its products since physicians have a lot of contacts and test results from the different diabetes and cholesterol levels patients. Other than that, physicians could also help promoting it to any patient who wants to start having a healthy …show more content…
Describe the content of communications to be sent— and if more than one segment exists then describe the content of communications to each segment. That is, discuss what you want to communicate about the Spectrum product to each segment.
Adopting the concept of integrated marketing communication could bring a competitive advantage for TechMark. This means that using different communication channels would not be a problem knowing that TechMark will deliver a clear, consistent and compelling message about its product to different segments.
First of all, TechMark would want to clarify to both of the segments, including professionals and home use market, that there are two distinct products that complement each other. The advantage of having both of the products is that they could sync into a single app, which helps customers to evaluate the results of their activities and blood levels at the same time.
For the physician, TechMark could explain that Spectra Track is used to monitor patient’s blood level and could give the physician immediate results. The results can be printed out and sent out to the patients for immediate consulting. Further, professional physicians can ask the patient to have the Spectrum Band to make sure that patient could monitor their own daily activities and blood