RETHINKING MARKETING IN AN INFORMATION-RICH ENVIRONMENT. INDUSTRIAL ERA Information asymmetry. One sided Expensive Inefficient

Transcription

1 RETHINKING IN AN INFORMATION-RICH ENVIRONMENT INDUSTRIAL ERA Information asymmetry Customers INFORMATION Marketer Ill-informed controlled One sided Expensive Inefficient ERA OF INFORMATION DEMOCRACY CUSTOMERS Power shift FIRM Information is ubiquitous and cheap Customers are better informed CONVENTIONAL THINKING AND PRACTICE CUSTOMER INITIATED Research Scope out Jungle Product Differentiation Better mousetrap Consumer Behavior Study Preys habits Target Positioning Zooming on Prey Prey acts on emotions Relationship Management Secure prey and Prevent it from escaping HUNTING Promotion Ads, Sales Promo Lay traps and baits ReThinkining 1

2 Value Proposition Rifle in on prey Store Retail Danger zone ERA OF INFORMATION DEMOCRACY HIGHLY WELL INFORMED CUSTOMERS HUNTERS HUNTED Customers seek out the BEST seller Customers initiate relationships with sellers of their choice WELL INFORMED CUSTOMERS SEEK OUT BEST SELLERS INITIAITE RELATIONSHIPS CHOICE OF SELLER DO NOT OVERPAY DO NOT EXERT PHYSICAL EFFORT DICTATE TERMS INFO-RICH ENVIRONMENT EMPOWERS CUSTOMERS WITH NEW CAPABILITIES NEW CAPABILITIES GET OBJECTIVE INFORNATION brands, costs, prices, features, quality, by-passing mfg and retailers INITIATE REQUESTS FOR ADS & INFO FROM MFG DESIGN OFFERINGS THEY WANT HIRE BUYING AGENTS INVITE OFFERS BUY ANCILLARY PRODUCTS CHANGING ASSUMPTIONS CONTROLLING EXCHANGES Marketers initiates OPAGUENESS Withhold information AQUIRE NEW CUSTOMERS One-time exchange Value FACILITATING EXCHANGES Customer initiates TRANSPARENCY Comparison shopping SERVE CURRENT CUSTOMERS Build relationship value Cross-sell ReThinkining 2

3 RETHINK THE METAPHOR HUNTER GARDENER Cultivating relationships With customers Sow seeds Nurture plants Value via serving Customers EVOLUTION INDUSTRIAL TRANSITIONAL INFORMATION ERA Industrial Transitional Info-era DESIGNING OFFERING ENGINEERING LED Sequential LED Voice of customer input CUSTOMER LED Simultaneous sensing and responding Persistent connectivity PRICING EVOLUTION Industrial Transitional Info-era COST-BASED PRICE VALUE-BASED PRICING LIFE-TIME PRICING Auto: info service revenues navigation system roadside assistance wireless internet ReThinkining 3

4 CUSTOMER CENTERED MEDIATORS work for customers facilitate activities in customer initiated exchange process TRADITIONAL Products Channel flows NEW Activities customers perform METAMARKETS Diverse set of products and services needed to service a broad activity cluster HOME OWNERSHIP CONSUMER METAMARKET HOME FINANCING HOME REPAIR Sellers from different industries Solution -- METAMEDIARIES INTERMEDIARIES Wholesalers, brokers, retailers between producers and customers They work for producers METAMEDIARIES WORK FOR CUSTOMERS Create efficiencies Single point of contact between customers and a diverse set of marketers in a metamarket ORGANIZE METAMARKETS AROUND ACTIVITY CLUSTER Important events Important assets A ONE-STOP SHOP ReThinkining 4

5 Cognitive space: evaluating staying informed negotiating reselling buying servicing financing repair insurance AUTO METAMARKET Marketplace: new car dealers used car dealers insurance companies spares dealers warranty firms mechanics financing firms Cognitive Space WEDDING METAMARKET Marketplace What other metamediaries clusters of activities do you see? Important events: Important assets: TRADITIONAL ORGANIZATIONS sales force product/brand managers market researchers customer service reps etc. INFORMATION ERA ORGANIZATION ROLE RE-ALIGNMENT Middleman Role ReThinkining 5

6 FIRM ROLE CUSTOMER Mediation understand customer needs via marketing research transmit the voice of customer to various functional areas ASSUMPTIONS customers hard to reach customers could not interact directly with other functional areas in the firm ASUUMPTIONS: INFO-ERA ROLE every functional area can potentially interact directly with customers info technology crucial Customer support FIRM Engineering And design CUSTOMER CARE SYSTEM CUSTOMER SUPPLIERS EMERGING ROLE INTEGRATION FIRM Back-end Front-end CUSTOMER Info infra- web Structure presence integrate all customer-facing processes single face single voice back-end tight integration with functional areas strong MIS function info integration GARDENER MODE KEY ACCOUNT MANAGEMENT RULE key managers assigned cross-functional teams add value to relationship BRAND --- CUSTOMER focus PRODUCT & --- STRONG SALES BRAND MGMT FUNCTION ReThinkining 6

7 PERSUASION --- NEGOTIATION BRAND-IMAGE MAKING OTHER BUSINESS - ACCOUNTING - FINANCE - INFO TECHNOLOGY REWARD --- CUSTOMER STRUCTURE SATISFACTION COST/SALES ReThinkining 7