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Act 2:

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... Toys/Attractions, Fashion, Music, Radio/TV, Commercials, Sport, Theater, Printed ... Try to make it visual and theatrical; costumes and props are great ... – PowerPoint PPT presentation

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Title: Act 2:


1
Act 2
  • Product branding and experience economy -
    evaluating and designing experiences

2
Agenda
  • Welcome to the Experience Economy what is it
    really?
  • Building brands in the experience economy five
    steps
  • Customer made a new trend in co-creating,
    designing and evaluating experiences

3
Welcome to the Experience Economy (Die
Erlebnisgesellschaft)
External oriented motifs of the production society
Internal oriented motifs of the experience society
4
Welcome to the Experience Economy (Die
Erlebnisgesellschaft)
External oriented motifs of the production society
Internal oriented motifs of the experience society
5
Experiences defined
  • Experiences have to be
  • Engaging
  • Entertaining
  • Boundary breaking
  • Value creating
  • Educational
  • Emotional appealing

Generation C
6
What is in a definition?
  • Denmark
  • Architecture, Performing arts, Books, Design,
    Edutainment, Events, Film/Video, Culture
    institutions, Toys/Attractions, Fashion, Music,
    Radio/TV, Commercials, Sport, Theater, Printed
    media, Tourism
  • Norway
  • Architecture, Design, Film/Photo, Arts,
    Literature, Market communication, Media,
    Meetings, Music, Meals, Performing arts,
    Tourism/travel, Experience based learning, Sport

7
What is in a definition?
  • Sweden
  • Architecture, Design, Film/photo, Literature,
    Market communication, Media, Meetings, Music,
    Meals, Experience based learning, Performing
    arts, Tourism/travel
  • UK
  • Advertising, Architecture, The art and antiques
    market, Crafts, Design, Designerfashion, Film and
    video, Interactive leisure, Music, The performing
    arts, Publishing, Software, Software and computer
    games, Television and radio

8
Product branding and experiences
  • The purpose of a brand is to differentiate the
    goods or services of one seller or group of
    sellers from those of competitors. (Kotler et
    al., 1993 underlining added)

The BMW Ultimate Driving Experience
9
Five steps in building a brand
  • Select a name and symbol to represent the company
    or product or service
  • Create awareness/brand identity of name and
    symbol (if used) and what the product is or does
    or represents
  • Position the brand to begin differentiating it
    from competing brands. A brand position is how a
    brand compares to its competitors in the minds of
    customers, prospects, and other stakeholders.

10
Five steps in building a brand
  • Create a brand image to help further
    differentiate the brand and to make it easier to
    recognize and recall. A brand image is an
    impression created by brand messages and
    experiences and assimilated into a perception
    through information processing.
  • Create trust in the minds of customers,
    prospects, and other stakeholders about the brand
    by maintining consistency and delivering on
    expectations. Managing customer expectations is
    critical (inspired by Ducan 200248-49)

11
Building brand identity
Adventurous
Technology
Fast-paced
Trust
Famili-oriented
Folksy
Great outdoors
Vibrant
Rough, romantic, macho cowboy
Design
Exciting
Relaxed
Friendly
Rough riding
Natural togetherness
Rugged exploration
Active
Trustworthy
Natural
12
Three important principles for live shows put on
at street level
  • Identify the product or brand message
  • Try to make it visual and theatrical costumes
    and props are great
  • You have to go to where your target customers
    are, whether its the great hall of Grand Central
    Station or the quad of your local collage
    (Schmitt et al. 200415)

13
IKEA solo story
  • Introduction of the intelligent e-newsletter
    doubles sales
  • Ikeas new e-newsletter interacts with 210,000
    members of the IKEA-family and transmits
    information about 6,500 products in 1 million
    different possible variants
  • This is the ultimate dialogue marketing
    communicating with individuals in stead of masses
  • It is a monthly newsletter that goes out to ca.
    30,000 members. It started in 2003 and new
    figures show a 100 increase in sales!!

14
IKEA solo story
  • Introduction of the intelligent e-newsletter
    doubles sales
  • The newsletter creates a opportunity for IKEA to
    be in contact with its customers on a monthly
    basis and thereby create closer relations
  • Each member has his/her own profile with data on
    preferences. Each member decides how the profile
    looks and thereby what the member is exposed to
    in each newsletter
  • The newsletter increases the frequency of visits
    to stores and number of purchases per customer

15
Customer driven innovationCustomer-made
Planetfeedback.com
Thecomplaintstation.com
  • The new trend Customer-made
  • The phenomenon of corporations creating goods,
    services and experiences in close cooperation
    with consumers, tapping into their intellectual
    capital, and in exchange giving them a direct say
    in what acutally gets produced, manufactured,
    developed, designed, serviced, or processed.
    TRENDWATCHINS.COM 2006

About.com
Epinions.com
16
Customer driven innovationCustomer-made
Ipodlounge.com (5 million hits a day!!)
  • Customer-made is about the truly empowered
    consumer and it is apparently a new mega trend.
  • It is powered by the Generation C the creative
    generation and the internet, new technology made
    available to people around the world
  • Customer-made is taking consumers seriously and
    accepting that they definitely know what kind of
    service they need, and what constitutes a good
    exprience!

17
Customer driven innovationCustomer-made
Niketalk.com (200 million visits and 3.5 million
posts!!!)
Mini2.com - Fuel for your MINI Obsession
  • In 2005, 120,000 people around the world signed
    up to join Boeings World Design Team, an
    internet-based global forum that encourages
    participation and feedback while the company is
    developing its new airplane.
  • Activities include message boards, conversations
    with Boeing design team, and extensive
    discussions on what members like and dont like
    about air travel today, as well as features
    theyd like to see in their dream airplane.
    TRENDWATCHING 2006

Theforce.net
Sourceforge.net
18
Customer-madeA way of evaluating and designing
experiences in real time
  • True customer-made involves co-created goods,
    co-created services, co-created expriences.
  • There are hundreds of thousands of experts,
    innovators, inventors and so on outside company
    walls and research labs, and innovation units at
    large corporations are increasingly NOT going it
    alone. TRENDWATCHING 2006

19
Transformation of the Relationship between firms
and consumers
From
To
  • One-way
  • Firm to consumer
  • Controlled by firm
  • Consumers are prey
  • Choice buy/not buy
  • Firm segments and target consumers consumers
    must fit into firms offerings
  • Two-way
  • Consumer to firm
  • Consumer to consumer
  • Consumer can hunt
  • Consumer wants to/can impose her view of choice
  • Consumer wants to/is being empowered to
    co-construct a personalized experience around
    herself, with firms experience environment

Prahalad Ramaswamy 200412
20
IKEA CONTEST A way of evaluating and designing
experiences in real time
  • The IKEA contest fiffigafolket (ingenious
    people) asked amateur outsiders to send in clever
    designs for storing home media in the living
    room.
  • Out of 5,000 ideas submitted, fourteen winners
    went to the IKEA headquaters to participate in a
    workshop and receive EUR 2,500, and the designs
    will actually get produced and end up in IKEA
    stores for all to see, buy and assemple.
    TRENDWATCHING 2006
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