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The Future of Marketing

The Future of Marketing. Dipak Jain Kellogg School of Management Northwestern University. 1. What Challenges?. “Nano-second” Culture. 1. What Challenges?. “Nano-second” Culture “Hyper” Competition. 1. What Challenges?. “Nano-second” Culture “Hyper” Competition Demanding Customers.

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The Future of Marketing

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  1. The Future of Marketing Dipak Jain Kellogg School of Management Northwestern University

  2. 1. What Challenges? • “Nano-second” Culture

  3. 1. What Challenges? • “Nano-second” Culture • “Hyper” Competition

  4. 1. What Challenges? • “Nano-second” Culture • “Hyper” Competition • Demanding Customers

  5. 2. Meeting the Challenges: A Customer-Centric Approach • Doing business the way the customer wants to do it

  6. 2. Meeting the Challenges: A Customer-Centric Approach • Doing business the way the customer wants to do it • Being close to customers and ahead of competition

  7. 2. Meeting the Challenges: A Customer-Centric Approach • Doing business the way the customer wants to do it • Being close to customers and ahead of competition • Developing capabilities in attracting and retaining valuable customers

  8. 3. Customer Centricity:Major Shifts in Thinking RealizeMarketing is: Product/ Service Total Customer Experience

  9. 3. Customer Centricity:Major Shifts in Thinking RealizeMarketing is: Product/ Service Total Customer Experience FocusOn: Product Life Cycle Customer Life Cycle

  10. 3. Customer Centricity:Major Shifts in Thinking RealizeMarketing is: Product/ Service Total Customer Experience FocusOn: Product Life Cycle Customer Life Cycle AnticipateCustomer’s: Articulated Needs UnarticulatedNeeds

  11. 3A. Customer Life-Cycle • Customer Well-Being (Health care and Wealth care)

  12. 3A. Customer Life-Cycle • Customer Well-Being (Health care and Wealth care) • Media and Entertainment (Customer Engagement)

  13. 3A. Customer Life-Cycle • Customer Well-Being (Health care and Wealth care) • Media and Entertainment (Customer Engagement) • Hospitality Services (Tourism-Travel & Hotels, Restaurants)

  14. 3B. Unarticulated Customer Needs CUSTOMER NEEDS EXISTING (Current, Articulated) LATENT (Future, Unarticulated) Objective: Serve Current Markets Create New markets Critical Issues: Customer Expectations Customer Education/Trials

  15. 3C. Total Customer Experience: Value Disciplines PSYCHOLOGICAL FUNCTIONAL ECONOMIC

  16. customer cost of switching customer cost of thinking 3C. Sustaining Customer Value Maximize Customer Value = • Reduce customer cost of thinking • Increase customer cost of switching

  17. 4. Branding For Customers there should be a “clear” message • FedEx “Reliability” • Nike “The athlete in you” • Gap “Affordable fashion” • Singapore Airlines “Warm genuine attention & friendliness” • Star Alliance “Global Access” NUS “ “ Singapore “ “

  18. Branding: The Kellogg School • Why the Kellogg School? L earning

  19. Branding: The Kellogg School • Why the Kellogg School? L earning O pportunities

  20. Branding: The Kellogg School • Why the Kellogg School? L earning O pportunities V alues

  21. Branding: The Kellogg School • Why the Kellogg School? L earning O pportunities V alues E thics

  22. Branding: The Kellogg School • Why the Kellogg School? L earning O pportunities V alues E thics Feel the LOVE@Kellogg

  23. 5. Summary Customer Centricity requires: • Anticipating customers unarticulated needs • Enhancing customers’ total experience • Simplifying customer purchasing process • Building customer loyalty • Realizing customers (internal & external) as true assets

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