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Flashcards in M T10 Customers Deck (3)
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1

Market led

Product based on what the customer wants

High level of market research

Highly competitive markets

MM will be responsive in external factors

2

Product led

Product based on what the business thinks they will want

Little market research, high levels of product r&d

Little competition

Unresponsive to external factors

(iPod)

3

Consumer behaviour

Why do they buy?
Need/want

Types of purchase?
Routine/habitual (food/fuel)
Impulse
Informed (car)

How?
Cash
Credit
Store credit

Where?
Retail
E-commerce
Catalogues