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MIDPOINT REVIEW

MIDPOINT REVIEW. Topic Concept Tools Action Case. CONSUMER BEHAVIOR. Concept/Theory Information Processing Behavioral Theory Tool Flow Chart Steps, Information, Decision Rules, Actions, Post Purchase Decision Unit, Multiple Participants Action

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MIDPOINT REVIEW

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  1. MIDPOINT REVIEW Topic Concept Tools Action Case

  2. CONSUMER BEHAVIOR • Concept/Theory • Information Processing • Behavioral Theory • Tool • Flow Chart • Steps, Information, Decision Rules, Actions, Post Purchase • Decision Unit, Multiple Participants • Action • Design site for Conversion and Retention • Case • Mother Nature: Acquisition and Retention • Dell: Conversion • Marketsoft: Sell to Pain

  3. Questions to Ask • What starts process? • Role of past experience? • Friends make input? • Source of input. • ADS/catalogs/email? INITIATION • Sources of information; Friends / media / web/ store? • Active search? How much time? • Where shop – store / catalog / internet? • What learn? Products / technology / user experience / trends? AWARE/LEARN • Compare products? • Role of price / quality – evaluation criteria • Need to touch and feel? • Impact of brand and trust? DECIDE • Special offers • Guarantees / refund policies? • How do buyers gain confidence? • Security / privacy assurance needed? • Need push to action – close sale BUY • Word of month to friend/community • Relationship contract • Life time service? • Delivers promised value POST PURCHASE Building A Customer Decision Flow Chart

  4. TRUST • Concept/Theory • Psychology • Trust Cues and Perception • Tool -Virtual Advisor • Trust Cues • Actions • Decide on Push -- Trust Dimension • Design in Trust -- Currency of the Internet • Real or Virtual Advisors • Alternative Methodologies • Case • InSite: Advisor • Dell: Recommend / Learning

  5. Push Commodity Price most important Deal prone segment Need short term results Full Trust Have best product Have good design feedback Buyers getting info anyway (infomediaries) Trust key element Expensive/complex products Culture to sell our products only Strong channel attitudes Evolutionary stop Have both price and relationship segments How much trust should you have in your eBusiness strategy?

  6. PRODUCT DESIGN • Concept/Theory • Build Process • Tool • Models / Market Research • Information Acceleration • Listen In • Actions • Prevent Failure • Do Research and Budget • Hire Modeling Capability • Case • Market Soft: eLeads and eOffers – suite • Prime Response: Depth - Breadth

  7. SEGMENTATION • Concept/Theory • Taxonomy • Segment for Competitive Advantage • Tool • Clustering • Demographic, Psychographic, Product • Data Mining • Action • Decide Basis of Segmentation • Use Data and Analytic Services • Personalize • Case • Mother Nature: Lifestyle – Data Mining • Dell: Sophisticated Buyers • MarketSoft: Marketing Manager • Prime Response: Vertical Markets

  8. POSITIONING • Concept/Theory • Psychology • Perception Simplicity • Tool • Perceptual Map • Needs Seen by Customers • Preference Vectors • Action Do Maps • Find Competitive Value Added • Do Vectors and Benefit Segmentation • Be First in But Position in Best Spot • Case • InSite: Advisor • Market Soft: Suite • Prime Response: Campaign Management versus New Competition

  9. Understanding Customers Consumer Behavior B2C vs B2B Strategy Formulation Trust vs. Push Product Design Segmentation Positioning Customer Acquisition Advertising / PR / Selling Pricing & Promotion Distribution Channel Logistics Relationship Building Fulfillment Service

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