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    New Perspective On Marketing

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    Nasir Hossain
    The document discusses different approaches to personalized marketing, including experiential marketing, one-to-one marketing, and permission marketing. It outlines the key steps and characteristics of each approach. Experiential marketing focuses on creating emotional connections through customer experiences. One-to-one marketing develops direct, personalized relationships with individual customers. Permission marketing engages customers through incentives and teaches them about products over time to change their behaviors. Together these approaches aim to strengthen brand loyalty and relationships with customers.

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    New Perspective On Marketing

    Uploaded by

    Nasir Hossain
    1K views6 pages
    The document discusses different approaches to personalized marketing, including experiential marketing, one-to-one marketing, and permission marketing. It outlines the key steps and characteristics of each approach. Experiential marketing focuses on creating emotional connections through customer experiences. One-to-one marketing develops direct, personalized relationships with individual customers. Permission marketing engages customers through incentives and teaches them about products over time to change their behaviors. Together these approaches aim to strengthen brand loyalty and relationships with customers.

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    New Perspective on Marketing

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    The document discusses different approaches to personalized marketing, including experiential marketing, one-to-one marketing, and permission marketing. It outlines the key steps and characteristics of each approach. Experiential marketing focuses on creating emotional connections through customer experiences. One-to-one marketing develops direct, personalized relationships with individual customers. Permission marketing engages customers through incentives and teaches them about products over time to change their behaviors. Together these approaches aim to strengthen brand loyalty and relationships with customers.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    1K views6 pages

    New Perspective On Marketing

    Uploaded by

    Nasir Hossain
    The document discusses different approaches to personalized marketing, including experiential marketing, one-to-one marketing, and permission marketing. It outlines the key steps and characteristics of each approach. Experiential marketing focuses on creating emotional connections through customer experiences. One-to-one marketing develops direct, personalized relationships with individual customers. Permission marketing engages customers through incentives and teaches them about products over time to change their behaviors. Together these approaches aim to strengthen brand loyalty and relationships with customers.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
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    The key takeaways are the different approaches to personalizing marketing such as experiential marketing, one-to-one marketing, and permission marketing. These approaches aim to better understand individual customers and customize products and services for each customer.

    The different approaches to personalizing marketing discussed are experiential marketing, one-to-one marketing, and permission marketing. Experiential marketing focuses on emotional connections while one-to-one marketing targets individual customers. Permission marketing involves gaining customer approval before marketing to them.

    The five steps involved in permission marketing are: 1) teach customers about the product, 2) offer incentives to volunteer personal information, 3) reinforce incentives, 4) offer additional incentives, and 5) leverage permission to change customer behavior for profits.

    New Perspective on Marketing

    Personalizing Mar keting


    An extreme form of product differentiation. Targeting a product or service to an individual customer. Can be achieved only by collecting data and information about a particular customer

    Personalized marketing as a four phase process: 1. Identifying potential customers; 2. Determining their needs and their lifetime value to the company; 3. Interact with customers so as to learn about them; and 4. Customize products, services, and communications to individual customers.

    Classification of Personalizing Marketing


    Personalizing Marketing Concepts may be classified by three ways; these are showing in following figure: Personalizing Marketing

    Experiential Marketing

    One-to-one Marketing

    Permission Marketing

    Experiential Marketing
    Integrates elements of emotions, logic, and general thought processes to connect with the consumer The goal of experiential marketing is to establish the connection in such a way that the consumer responds to a product offering based on both emotional and rational response levels.

    2.1.1. Stages of marketing a product or service The classification for each stage in the evolution of products is:

    A commodity business charges for undifferentiated products. A goods business charges for distinctive, tangible things. A service business charges for the activities you perform. An experience business charges for the feeling customers get by engaging it. A transformation business charges for the benefit customers (or "guests") receive by spending time there.

    Experimental marketing can be used beneficiary in many situations includingTo turn around a declining brand To differentiate a product form competition To create an image and identity for a corporation To promote innovations To induce trial, purchase and, most importantly, loyal consumption

    2.1.2. Characteristics of experimental marketing

    i. ii.

    A Focus on Customer Experiences A Focus on Consumption as a Holistic Experience

    iii. iv.

    Customers are Rational and Emotional Animals Methods and Tools are Eclectic

    2.2One-to-One Marketing
    Marketing strategies applied directly to a specific consumer I. II. III. IV. V. VI. VII. The company can add the highest value and utility for the customer It is a two way communication system It creates switching cost for the customer. It reduces transaction cost. It helps to build strong and profitable relationship to the customer. It treats different customer differently It helps the customer anticipate current and future demand of the customer.

    2.2.1. Steps in One-to-One marketing

    2.3 Permission Marketing


    The practice of marketing to consumers only after gaining their express permission Marketing technique which requires the approval of the customer

    Steps in Permission marketing 1. Offer the interested prospect a curriculum over time that teaches the consumer about the product or service. 2. Offer the prospect an incentive to volunteer (e.g. freebies, contest or sales promotion). 3. Reinforce the incentive to guarantee that the prospect maintains the permission. 4. Offer additional incentives to get more permission from the consumer. 5. Over time, leverage the permission to change consumer behavior towards profits.

    Participatory Marketing

    Marketers must help the consumers by giving guideline and assistance Marketers and consumers need to work together to find out how the company can best satisfy consumer goal.

    3. Reconciling the New Marketing Approaches


    In accordance with the CBBE model, the different approaches put emphasis on different aspects of brand equity. One to one and permission marketing are mainly helpful in creating stronger behavioral loyalty and attitudinal attachment. Experiential marketing on the other hand is mainly helpful in establishing brand imagery and trapping into a variety of different feelings as well as helping to build brand communities. Next Slide Firms must still devise product, pricing and distribution strategies as part of their marketing programs. 1. Product strategy 2. Pricing strategy 3. Channel strategy

    Product Strategy
    consumer are very loyal to the branded product the consumers experience is influenced by the product. At this point a company must focus on following things-

    What consumer experience with a brand What consumer hear about a brand with others What the firm can tell consumer about the brand How the brand meets the consumer demand Why the consumer may loyal to the this company brand

    1. Perceived Quality and Value 2. Brand Intangibles 3. Total Quality Management and Return on Quality 4. Return on Quality strategies 5. Value Chain 6. Relationship Marketing 1. Perceived Quality and Value Perceived Quality
    Total judgment of evaluation with respect to a product or a service bearing on the relative superiority of this product. confrontation of the quality returned by an offer, of a product/service, with the earlier expectations of the consumer.

    Perceived Value
    customers opinion about a product's value to him or her. may have little or nothing to do with the product's market price, and depends on the product's ability to satisfy his or her needs or requirements.

    2.Brand Intangibles
    Very necessary for the company because it increase the brand value and helps the company to increase the price of the product in return company earn profit.

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