Relative Price

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Strategic Marketing Final Project
Measuring customer perceived value toward burgers
- by using value map
Group Nine
Advisor:蔡燿全老師
Members:
R66981219蘇伶雅
R66981243林俊偉
R66984039林珍伶
R66984055鍾雅莉
R66984097楊凱婷
1
Agenda
Outline
•
•
•
•
•
•
Abstract
Introduction
Literature Review
Research Method
Research Analysis & Result
Conclusion
2
Abstract
Result and suggestions
for local brand
Value Map:
survey questionnaire with 55
responses
Taiwan fast food industry: 10
burgers from 5 fast food
restaurants.
3
Introduction (1/2)
• Research Motives
- Fast food restaurants competition in Taiwan
Brands
McDonald’s
KFC
MOS
Burger
Burger
King
丹丹
Burger
Others
Store
number
347
124
121
42
23
56
- Product perspective :
- Value Mapping
4
Why Value Mapping?
Motivation
Glenn B. Voss, A. Parasuraman, Dhruv Grewal (1998). The
role of Price, Performance, and Expectation in Determing
Satisfaction in Service Exchange, The Journal of Marketing,
62(4), pp.46-61.
Performance
expectation
Perceived
performance
Price-Performance
consistency
6
Introduction (2/2)
• Research Objective
- Know the difference between 丹丹 Burger’s
product and others
- Discover the room for improvement
- Provide suggestions based on previous studies
V.S.
7
Literature Review
Glenn B. Voss, A. Parasuraman, Dhruv Grewal (1998). The role of
Price, Performance, and Expectation in Determing Satisfaction in
Service Exchange, The Journal of Marketing, 62(4), pp.46-61.
Indrajit Sinha , Wayne S. DeSarbo (1998).
An Integrated Approach toward the Spatial Modeling of Perceived
Customer Value, Journal of Marketing Research, 35(2), pp.236-249.
Wolfgang Ulaga, Samir Chacour (2001). Measuring Customer
Perceived Value in Business Markets, Industrial Marketing
Management , 30(1), pp.525-540.
8
Research Method
9
Research Method
Theoretical Background
Measurement Methodology
Pilot Questionnaire
Sample Demographics
10
Theoretical Background
Customer
value
Evidence
• Customer value management lately has grown
into a major focus in contemporary marketing
Management of the
customer perceived
value
Significant
relationship with
market share gains
Indrajit Sinha , Wayne S. DeSarbo (1998).
An Integrated Approach toward the Spatial Modeling of
Perceived Customer Value, Journal of Marketing Research,
35(2), pp.236-249.
11
Theoretical Background
Status quo
• Corporations should comprehend their present
performance of customer value creation before
initiating the way of improvement.
• We take value map as a measurement
methodology to evaluate the customer value
Measurement
Methodology
12
Measurement Methodology
Relative
Performance
Relative
Price
Customer
Value
Value Map
13
Measurement Methodology
Relative
Performance
Relative
Price
Customer
Value
Value Map
Relative Performance
•Def: The overall performance ratings based on evaluations of product
features and the scale is from 0 to 100.
Relative Performance=
Product’s Performance Rating
Average Performance Rating
× 100
14
Measurement Methodology
Relative
Performance
Relative
Price
Customer
Value
Value Map
Relative Price
•It is difficult to infer the attractiveness of the price in absolute dollars.
Here we create the relative price as the following formula.
Relative Price=
Relative Price=
Product’s Price
Average Price
× 100
15
Measurement Methodology
Relative
Performance
Relative
Price
Customer
Value
Value Map
Customer Value
Customer Value = Relative Performance – Relative Price
We can determine whether
products are above or
below average in
performance and price
By
measuring the difference
between relative performance
and relative
16
Measurement Methodology
Relative
Performance
Relative
Price
Customer
Value
Value Map
Relative Price
Figure1. Value Map
A
B
100
C
0
100
Relative Performance
D
17
Pilot Questionnaire
1. Fast Food Industry
2. Product: Burger
We randomly picked up
13 participants
with age from 20 to 30
Q1. Which one you can think of first
when it comes to fast food
restaurant?
Q2. Previous question continued,
“Which burger you can think of first
in that restaurant?”
18
Pilot Questionnaire
Figure2. The result of the pilot questionnaire
Fast Food
Restaurant
MCDONALD
KFC
MOS
BURGER
BURGER
KING
Burger
•大麥克
•勁辣雞腿堡
•麥香魚堡
•卡啦雞腿堡
•烙烤雞腿堡
•海洋珍珠堡
•燒肉雞腿堡
•華堡
丹丹
•鮮脆雞腿堡
•烤雞堡
19
Figure3. Questionnaire
10. 烤雞堡
分數: __________________
20
Sample Demographics
In fast food industry, the target customers are mainly
from the age 16 to 22 and 25 to 44( Pollster 2009).
We picked up 63 potential participants with the age
from 20 to 30
In total, 63 questionnaires were sent, 55 responses
were received, resulting in a response rate of 87.3
percent.
21
Research Analysis & Result
22
Research Analysis
• Relative Performance
Product’s Performance Rating
=
× 100
Average Performance Rating
• Relative Price
Product’s Price
=
× 100
Average Price
23
Research Analysis- Results
Figure 4. Relative performance and relative price
No.
Burger
Actual
Performance
Relative
Performance
Actual Price
Relative Price
1
2
3
4
5
6
7
8
9
10
大麥克
勁辣雞腿堡
麥香魚
咔啦雞腿堡
烙烤雞腿堡
華堡
海洋珍珠堡
燒肉珍珠堡
鮮脆雞腿堡
烤雞堡
Average
73.84
81.73
68.98
83.91
79.95
78.24
81.55
80.04
76.31
74.54
77.909
94.78
104.90
88.54
107.70
102.62
100.42
104.67
102.74
97.95
95.68
100
79
79
75
80
80
99
70
65
49
37
71.3
110.80
110.80
105.19
112.20
112.20
138.85
98.18
91.16
68.72
51.89
100 24
Value Map
Relative price
Figure 5. Price-Performance Value Map
160.00
華堡
140.00
120.00
麥香魚
烙烤雞腿堡
大麥克
咔啦雞腿堡
勁辣雞腿堡
100.00
80.00
鮮脆烤雞堡
海洋珍珠堡
燒肉珍珠堡
烤雞堡
60.00
Relative Performance
40.00
85.00
25
90.00
95.00
100.00
105.00
110.00
Conclusion
•Improve quality
In the
short run •Increase price
Wolfgang Ulaga, Samir Chacour (2001). Measuring Customer Perceived Value
in Business Markets, Industrial Marketing Management , 30(1), pp.525-540.
In the
long run
•Franchising
•Marketing strategy
26
Thank You
27
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