This is part four of an audio recording of a class on entrepreneurship and innovation taught by Peter Drucker. In this segment he discusses the importance of tailoring a product to suit the customer demographic, and market segmentation. He uses anecdotes about several specific companies and some about competitors within a trade. He discusses the Melville Corporation, Mobil, General Motors, Tiffany and Co., American Airlines, and Delta. An example Drucker uses is how in the early thirties there was a lot of customer research done on supermarkets so the stores could be designed accordingly. They found that American and English women shop counterclockwise and start on the bottom if there is more than one floor. The men were also found to start on the bottom but tend to shop clockwise. In Japan most people seemed to start at the top and go counter clockwise, but no pattern was found in Italy. Drucker also stated that the wrong price stops people from buying something, but people very rarely buy something because of the price. It is a constraint instead of motivation especially among affluence.
Drucker, Peter F. (Peter Ferdinand), 1909-2005 Shopping Selling Sales Marketing Marketing research Markets Customer services Demography Claremont (Calif.) Teenagers Shoes Supermarkets Research Japan Italy Tiffany and Company Social classes Wealth Sloan, Alfred P. (Alfred Pritchard), 1875-1966 General Motors automobiles General Motors Corporation Household employees Market segmentation Age distribution (Demography) Income distribution Claremont Colleges Volvo automobile Government agencies Roosevelt, Theodore, 1858-1919 Budget General Electric Company Prices Physicians Medicine Uncle Sam (Symbolic character) Insurance Entrepreneurship Motivation Innovation
Source
MiniDisc: P.D. INE 1/27/90 pt 4; 1/27/90; Box 89, minidiscs and floppies
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