The 2Is: WHy the web is Unique at creating Customer Relationships
1.Interactivity
–Defined as the extent to which a two-way flow if communication occurs between the firm and the customer.
2.Individualization
–Reflects the degree to which firm-customer interactions are tailored or customized to the individual user.
Stages of a Relationship
1.Awareness
2.Exploration and Expansion
1.Attraction
2.Relationship Norms
3.Trust
4.Power Relations
5.Satisfaction
3.Commitment
4.Dissolution
Two basic reasons why customer relationships increase [...]
Power Point and use the note section to explain powerpoint 20-30 Slides
Which Lever should be used?
Choose levers to Effect a change
Determine which levers Have the most leverage
Consider barriers to advancement
Consider the medium’s effect on desired [...]
Post articles in the three different categories of Prof. W blog’s
Nike distribution channels
Indirect
Direct
Direct Niva niketown in major metropolitan areas
Indirect via offline retailer
Customers
Nike
What is a brand?
According to the American marketing association, a brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods [...]
Class 19: Designing a Marketspace Matrix – 11/12
Lecture (Notes posted on web)
Session Overview: This lecture ties all of the marketing levers (product, pricing, communication, community and distribution) into the Marketspace Matrix, and shows how students can use the Marketspace Matrix to design a marketing plan.
Class Preparation Questions:
What is a buyer-seller relationship? How can it vary?
Why [...]
Session Overview: This lecture focuses on how the 2is and the Internet have influenced distribution. The lecture concludes by showing how various distribution levers fit into the Marketspace Matrix.
Class Preparation Questions:
Is the Internet a distribution channel?
What are the functions of channel intermediaries?
What is disintermediation and [...]
What is the definition of community?
What are the criteria that define successful community?
What are the different types of interests that form the foundations of community?
What are the different ways in which communities function?
What are the three [...]
Relationships – a bond between two parties
Pricing
Communication
Why do firms want relationships with customers?
Word of mouth
Trust
Pricing type open up by the internet
Auction -> Dynamic pricing
Mysimon.com
Pricing Types
Cost plus
Comptetitive pricing
Demand pricing
Lost leader
EDLP (everyday low prices) – i.e Wallmart
Luxury pricing
Frenzy pricing
Stub-hut
E-bay
Dynamic Pricing Strategies
*decreased menu [...]
“You want to be able to interact with your phone just like you would with your mom or friends,” said Dariusz Paczuski, senior director for consumer services at Tellme. “Voice is a great interface and it can simplify interactions more than anything.”
We all have agreed in class that google has changed how we see the [...]
Class 8: Customer Interface 9/24
Lecture (Notes posted on web)
Session Overview: This lecture introduces the concept of a technology-mediated customer interface. This lecture introduces the 7Cs, a framework to help firms design the look and feel or context of a site.
What are the seven design elements of the customer interface?
Context, Content, [...]
Class 7: Customer Acquisition 9/22
Chapter 7 – Roberts
What is meant by permission marketing? Do you think it is an important concept to email marketers?
Permission marketing deals with how a prospect interacts with a marketing campaign and whether or not he has control over his exposure [...]
Chapter 5 – Roberts
What are the stages of Internet consumer behavior? What is the importance of the stages that come after “Purchase?”
The stages are as follows:
Awareness > Search behavior (goal-oriented, entertainment/experience oriented) > Task completion (content/information acquisition, purchase, abandoment) Repeat visit (occasional, frequent), Use/Consumption Behavior [...]
Explain the customer lifetime value (CLV) concept. Thinking about a specific firm, how could it use the concept of CLV to increase the overall profitability of its customer base?
The customer lifetime value is “the net present value of a future [...]
Why is the concept of the business model important? In what ways is it useful?
Simply put, a business model is what Michael Rappa said: “a business model is the method of doing business by which a company can sustain itself-that is, generate revenue. The business model spells out how a [...]