Marketspace Matrix
Relationship is a bond or connection b/w firm and its customers, it may be strong, weak or non-existent, based on logic or emotion. Buyer-seller relationships are based on exchange, where each party expects, or perhaps even demands value for what is given (money for products). 1) Customers have have a relationship w/ the firm tend to feel good about remaining lyal are not as likely to seek out competitive offerings, actively promote the firm to others and are willing to pay higher prices. 2) Over time, some customers will cease to be profitable and firms should take steps to dissolve the unprofitable relationships.
Integrated lever selection is important to marketing plan because the levers all comlement each other and are interwoven. One cannont exist without the others. Awareness is the first stage of any product/service, exploration/expansion follows but commitment and dissolution don’t exist for every product and/or serivce. The levers enable the customer to build and go through the relationship stages effectitively.
ebay’ s application of the marketspace matrix change over time- First they used awareness and exploration/expansion as any other firm to gain customers (get them interested and explore the website and what it has to offer to them) as well as joing and tryin to buy/sell. Then ebay went to commitment by creating a strong reputable community and used various ways to keep people and continue buying/selling and furthering their relationship status with ebay. Over 3 different periods of time ebay went back to awareness, exploration, and commitment to gain new customers as they devolped and redevolped their website and community.
4 categories for lever selection: 1) which levers are customers more responsive to? - principle 1: base the levers on consumer’s behavior. principle 2: choose levers to effect change principle 3: measure the impact of each lever principle 4: overcome barriers to advancement 2) which levers are least likely to generate a competitive response? principle 5: anticipate your competitors’ likely responses principle 6: build on your firm’s skills and resources 3) which levers work best together- principle 7: look for interaction effects. principle 8: integrate across levers 4) which levers are consistent with strategy? - principle 9: levers create the position principle 10- focus on superior customer value.