Category Archives for Marketing

Five Product Levels (Kotler)

The Five Product Levels model provides a way to show the different levels of need customers have for a product. These needs range from core needs to psychological needs. At each product level, more customer value is added. History The Five Product Levels model was developed by Philip Kotler in the 1960s. Kotler’s book, Marketing […]

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The Marketing Funnel Explained

The purpose of a marketing funnel (sometimes called a purchasing funnel) is to illustrate the hypothetical journey a customer takes in going from someone who knows nothing about a company to a customer of that company. Basically, a marketing funnel is designed to turn leads into customers. The idea is that the marketer shows their […]

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Jobs-to-be-Done Theory

When concepting and planning new products companies often begin by first examining their target customers. This is a good thing. However, when examining their customers, companies often start by segmenting them, for example, by age or address, and then targeting their new products suitably within these segments. This, according to Clay Christiansen, a professor of […]

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Customer Lifetime Value Example

We’ve defined customer lifetime value before, but this time we’re going to look at a very simple example that everyone should be able to relate to. If you’re a business owner or department head this may make you think differently about how you advertise or run your customer service operations. The example we’re going to […]

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