Consumer adoption of innovations
The customer adoption process: stages a consumer goes through when confronted with a new product or service. According to the adoption process, the consumer must first become aware of the product; then develop an interest in it; perform some pre-purchase evaluation; and then try the product, either as a consequence of a [...]
Knowledge based management: captureà analyzeàuse marketing dataàdata from internet, service, contracts, and internal data
Data: analyze information at a lower level
Knowledge: add expertise to information
àevent based/ rule based (courses available only at certain time slots)
Role of knowledge in marketing
-Enable human agents to work better, faster, with more customer satisfying results (expert service @ 24-7)
-create automated systems [...]
Site effectiveness: usability (ease of use to visitors and value to them), traffic and audience measurement (improve site performance).
Usability test: concept testing (logic site flow, easy to navigate, no design flaws, communicate desired co. image), prototype testing (site design complete, reaction to appearance, determine which site structure is more preferable and consistent with customer expectation), [...]
Customers who are extremely satisfied are 6 times more likely to repurchase products
3 revenue streams associated with each customer: base spending amount, growth spending amount as they continue using the service/stay in market, referrals. (breakeven acquisition cost occurs after 1 year)
Mass media: cr was owned by intermediary in a channel of distribution
B2B market: customer [...]
Here’s an article in New York Times:
http://www.nytimes.com/2008/12/14/business/media/14digi.html?pagewanted=1&_r=2&ref=business
People have learned to ignore the ads shown on social networks like facebook. This article also mentioned a little about facebook’s targeting skills. Faceook was able to target a brand or product speciffically to one person. That brings our attention to issues in invading people’s privacy. What should be the limit in [...]
http://www.mediapost.com/publications/index.cfm?fa=Articles.showArticleHomePage&art_aid=96630
” Honda is doing the best job of keeping its customers of any company selling vehicles in the U.S. According to J.D. Power and Associates’ “2008 Customer Retention Study,” … The study suggests that safety, fuel economy, and deals and incentives are playing a bigger role in keeping consumers in a brand than they did [...]
Goodmail combines video, emailGoodmail combines video, email:
http://www.bizreport.com/2008/12/goodmail_combines_video_email.html
Study reveals how student interact with email:
http://www.bizreport.com/2008/12/study_reveals_how_student_interact_with_email.html
Good mail will launched a Certified Video platform that allows video clips to be embedded into an email in 2009. Television networks and movie studios can use it to target their consumers and send messages through that platform.
Studies have shown that Gmail is [...]
http://www.businessweek.com/technology/content/dec2008/tc20081210_696392.htm
Because of the economic situation we are in now, people in the market have been turning to the internet for alternatives in spending and in saving their money.
” The urge to live cheaply was reflected in the surging popularity of online video. Tina Fey’s spot-on Sarah Palin shtick was credited for reviving the pop-culture relevance [...]
Customer Service… is it necessary?
Is it good to get complaints/feedback?
*what do you do after you get feedback?
àfix the problem
àimprove quality of experience
Customers become frustrated when they call customer service and representatives transfer them around to different departments or even hang up.
People want apology when they call in. They might also want credit/money/free service.
Company’s goal from [...]
nline marketing campaign:
-to fit with the internet: does the personality of the product align well with the internet?
-fit with the target audience: internet usage characteristics of the target audience?
Action oriented steps:
è Is it info/purchase? What action you want them to take?
è How do they interact? Email? Feeds?
Advertising model: Fixed cost and time component important
Web [...]
Honda-cars are fuel efficientàthey’re one of the most green companies
Dating service and government: they want your money… eharmony lost lawsuit: it must let homosexuals meet(give gays and lesbians access to website)
Principles for market space matrix design
àwhich levers to use, which give most leverage, barriers of advancement, involvement, learning trends of customers, creditability, consistent with positioning, [...]
11.12.08
Community:
Customer attributes and Product attributes: Pursue and Creation
Distribution(3 types of flow): information, funds, materials
Internet decreases coordination cost
If customer can go directly to manufacturers then the middleman… retail channel… is eliminated [disintermediation]àcreates potential for channel conflict
11.17.08
Nike strategy:
What is brand? “Name, term, sign, symbol, design” websites can be brands too, ebay is a great example
Brand is [...]
http://www.businessweek.com/smallbiz/con…
Consumers are becoming more price conscious today due to the slow economy. They are spending more time on choosing what to buy to save some bucks. Businesses now are changing their pricing strategies too so they can come up with new ways to attract and retain customers.
Product: Ebay àonline market basedà goal: world’s largest market place
Service: commerce… ease of use, registration of data and user information
Monster generates income through career matches
Dissolution: get rid of low quality users (eBay: users who don’t ship on time, monster: job hoppers)
Additional features and platforms emerge to help retain customers
-ebay: everything can be done on site
-ebay [...]
Today’s class we first discussed a little about the election. Campaigns were run online to reach voters ages 18-29 since that’s where they get maximum amount of information. The main demographic group that flipped was Hispanic and they went from 55% supporting Bush in 2004 to now Obama in 2008.
What are some tools or [...]