Prioritizing the Markets

These three dimensions (WHY × WHO × CONTEXT) define the market. As we described in the example of a vehicle for driving children to events, the customer, not the marketer, defines the market. If the brand is the source of the promised experience made to the customer, then it is the customer’s perspective of the market that matters. Customers tell us what alternatives they consider when they have a specific need in a specific context.

For example, much of the business press sees McDonald’s as a hamburger restaurant. They report market share and brand performance comparing McDonald’s to the other major hamburger brands. And many McDonald’s managers agreed. But this is misleading. McDonald’s satisfies a variety of needs for a variety of people in a variety of contexts. Children have different needs from teens and young adults and parents. The needs are different at breakfast, snack, lunch, and late night. McDonald’s competition is different at breakfast compared to lunch. So, the competitive set is different for each of these WHYs × WHOs × CONTEXTs.