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Traditional Marketing vs Rethinking Marketing
Comparison Study
Vijin VPGDM 1
15PGM 51
Traditional marketing Rethinking marketing
Marketing is a process of planning and executing the conception, pricing, promotion and distribution of ideas goods and services to create exchanges that satisfies individual and organizational objectives.
Emphasis is placed on the whole relationship between suppliers and customers. The aim is to provide the best possible customer service and build customer loyalty.
Companies can interact with customers with the help of Powerful technologies like D/W for understanding and interacting with customers Which can help to radically reorganize in “Cultivating Relationships” ahead of building brands.
Traditional marketing Rethinking marketing
Traditional marketing Rethinking marketing
To sell to the customer by hook or crook the product that you have
Taking into account what the customer needs and offering him the same
Product Profitability Customer Profitability This involves Push Strategy It is planning concept Customers don’t have much say in what they actually need
Products are tailor-made to suit the consumer
Brand Equity Customer equity Mass Message Personally relevant messages It only focuses on immediate sale to the person in front of you
It focuses on customer retention
It is a short term process It is a long term process
Traditional marketing Rethinking marketing
Traditional and a customer-cultivating Process
Traditional marketing focuses to push products and brands.
Firm focuses on Product Profitability.
Chief Marketing Officer
Brand Manger
Shift from pushing individual products to building long-term customer relationships.
Marketing Department to “Customer Department”
Firm changes its focus from Product Profitability to Customer profitability
Replaces the CMO to Customer Officer
Brand Managers to Customer managers
Change In Company’s Prospective
THE CHANGE PROCESS Companies need to focus less on product profitability and more on customer
Profitability. Designing and executing the firm’s customer relationship strategy. Ultimate expression of marketing - Identify customers’ product needs. Scope of analysis shifts from an aggregate view to an individual view of
customer. Shifts its attention to acquiring the customer input that will drive improvements
in customer-focused metrics. Customer must be brought into the design process. Make the customers feel touched, moved and inspired. Let your customers participate in company’s key decisions Let your customers chose and design their product. Pay less attention to current market share and more attention to customer
equity share.
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