Lock-In/Utility Specificity Matrix framework
a. Step 1: Use the matrix described in the article entitled “Jilted? The manager’s little book for keeping customers in a recession” and the slides to define what constitutes OVERALL Lock-in and Utility Specificity for the online flower delivery industry. Make sure to consider both the industry’s value propositions as well as what purchase decision-making factors are important to consumers (jobs-to-be-done).
b. Step 2: Given your answer in Step 1, now try to evaluate how FTD is positioned relative to the competitors you chose. To do so, please spend time visiting the respective websites and explore the various product offerings, target customer segments, customer services, sales and loyalty incentives, etc. for each of FTD’s three competitors, as well as FTD. A useful guide for this part is the Business Model Canvas since it will help you reach beyond simply the products offered by the competitors. For each player, provide at least two examples each of their current efforts to boost “lock-in”, “utility specificity”, or both. Keep in mind how those efforts affect the behavior of the various types of customers in the matrix. Please plot the competitors, along with FTD, on a matrix to help in your analysis (this will be your 4th page).