Customer perception factors

When doing your analysis, consider these customer perception factors:

- Product/service features. Specific inherent attributes of the product or service itself; if key features are particularly important, list separately.

- Indirect/peripheral costs. Costs other than the actual purchase price, such as installation or additional equipment required.

- Quality. Inherent merit of the product or service at the time it is provided.

- Durability'/maintenance. Quality of the product/service overtime; ease of maintenance and service.

- Image/style/perceived value. Added values derived from design features, attractive packaging or presentation, and other intangibles.

- Customer relationships. Established customer base and cus­tomer loyalty; relationships of sales personnel to customers.

- Social image. Perception of the company, product, or service relative to issues such as environment, civic involvement, etc.

Internal operational factors

Some internal operational factors that increase competitiveness include:

- Financial resources. Ability of the company to withstand fi­nancial setbacks, and to fund product development and improve­ments.

- Marketing program/ budget. Amount and effectiveness of ad­vertising and other promotional activities.

- Economies of scale. Ability to reduce per — unit costs due to large volume.

- Operational efficiencies. Production or delivery methods that reduce costs and time.

- Product line breadth. Ability to increase revenues by selling related products; ability for customers to purchase needed items from one provider.

- Strategic partnerships. Relationships with other companies for purposes of development, promotion, or add-on sales.

- Company morale/personnel. Motivation, commitment, and productivity of the employees.

Decide what title is more suitable for the text.

1. Factors determining your success

2.Customer perception factors

3.Competitive position

4.Strategic partnerships

5. Internal operational factors

3. Find in the text words having the similar meaning to:

1. To purchase

2. Fancy

3. To study

4. To comprise

5. Merely

Answer the questions about the text.

1. What factors will determine your success in comparison to other manufacturers of the same products?

2. Why are the objective features of your product or service rela­tively small part of the competitive picture?

3. What companies will prove to be tough, enduring competition?

4. What factors should be considered when doing your analysis?

5. What do Internal operational factors include?

These are answers to the questions about the text. Write the questions.

1. Because their widgets are much cheaper.

2. All the compo­nents of customer preference, including price, service, and location, are only half of the competitive analysis.

3. Product/service features, indirect/peripheral costs, quality, durability'/maintenance, customer relationships, social image.

4. Some internal operational factors that increase competitiveness.

5. Ability of the company to withstand fi­nancial setbacks, and to fund product development and improve­ments.

Are the following sentences true or false? If they are false correct them.

1. If you have invented a clearly superior widget, it is not very comforting to imagine that widget customers will buy your product instead of the competitors' and you will not get money.

2.Customer perception factors are the following:financial resources, marketing program, economies of scale, operational efficiencies, product line breadth, strategic partnerships, company morale/personnel.

3. There are few factors that determine your success in comparison to other manufacturers of the same product.

4. The objective features of your product or service may be a rela­tively small part of the competitive picture.

5. Some internal operational factors that increase competitiveness include product/service features, indirect/peripheral costs, quality, durability, style/perceived value, customer relationships, social image.

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