Department of

Electronic and Computer

Engineering (ECE)

Empathize, Understand, Reimagine, Co-create,

Improve and Sustain

Presented by: Prof Mohohlo Samuel Tsoeu

Study Unit 2, Episode 1 – The origin of Markets
ECE 3
Markets
• Places, physical/cyber of exchange of factors
of production, goods, services and ideas.
• Emerged as an alternative to central
planning, and also led to Colonization.
• Evolved from batter system to the price
system.
• Markets calculate prices of goods and
services through supply-demand balance –
often regulated through price ceilings and
floors.
• Places of competition and stimulate
innovation.
• Markets are also political and international.
• Formal (trust in the system) and informal
(often unprotected interpersonal trust).
• Open vs closed, monopoly, oligopoly,
competitive Source: https://www.farmersweekly.co.za/agri-news/south-africa/buyers-rush-for-staples-as-durban-market-opens/

Casson, M., & Lee, J. S. (2011). The Origin and Development of Markets : A Business History Perspective Published by : The President and Fellows of Harvard College Stable URL :
https://www.jstor.org/stable/41301368 REFERENCES Linked references are available on JSTOR for this article : Yo. The Original and Development of Market, 85(1), 9–37.
Supply, demand and price regulation

Source: https://www.linkedin.com/pulse/understanding-price-floors-ceilings-balancing-supply-demand-munene/
Price Elasticity of Demand
Markets and Customer
Value

Anderson, J. C., & Narus, J. a. (1998). Understand What Customers Value. Harvard
Business Review, November-(December), 5–15.
papers2://publication/uuid/66483232-98D2-45A5-9B14-C5B951AE99F2
Markets and Customer
Value

Kim, W. C., & Mauborgne, R. (2005). Value innovation: A leap into the blue ocean. In Journal of
Business Strategy (Vol. 26, Issue 4, pp. 22–28). https://doi.org/10.1108/02756660510608521
Customer buying decision
process
 Department of
Electronic and Computer
Engineering (ECE)

Empathize, Understand, Reimagine, Co-create, Improve

and Sustain

Presented by: Prof Mohohlo Samuel Tsoeu

Study Unit 2, Episode 2 – Market segmentation and
Brand positioning
Market segmenting
• Mass marketing – one product for all
• Demographic – age, gender,
ethnicity…
• Geographic – not just geographic
location
• Psychographic – personality traits
• Behavioral – purchase behavior: RMF
• Product/offering related: LSM
Market segmentation
Brand positioning
24
Department of
Electronic and Computer
Engineering (ECE)

Empathize, Understand, Reimagine, Co-create,

Improve and Sustain

Presented by: Prof Mohohlo Samuel Tsoeu

Study Unit 2, Episode 3 – Strategic Marketing
3Cs of Marketing
• Persona Canvas
• SWOT
• Porter’s 5 Forces
4/7Ps of Marketing
• Product/Service
• Price
Products
• Place
• Promotion Services
• People
• Process
• Physical Evidence

Product and Service diffusion

The Product
The Product - Growth
Supply, demand and Price regulation

Source: https://www.linkedin.com/pulse/understanding-price-floors-ceilings-balancing-supply-demand-munene/
Price Elasticity of Demand
The Place
(Distribution)
• Product/Service
• Price
Products
• Place
• Promotion Services
• People
• Process
• Physical Evidence
The Place
(Distribution)
• Product/Service
• Price
Products
• Place
• Promotion Services
• People
• Process
• Physical Evidence
The Place
(Distribution)
• Product/Service
• Price
Products
• Place
• Promotion Services
• People
• Process
• Physical Evidence
The Promotion
• Product/Service
• Price
Products
• Place
• Promotion Services
• People
• Process
• Physical Evidence
The Promotion
• Product/Service
• Price
Products
• Place
• Promotion Services
• People
• Process
• Physical Evidence
42