ELC 310 Day 19 - PowerPoint PPT Presentation

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ELC 310 Day 19

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... Dec 11 Travelocity K. Pelletier The Future of Digital Marketing Dec 14 Citibank Online L. Dubois Written Case Study Due Dec ... E-commerce design ... – PowerPoint PPT presentation

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Title: ELC 310 Day 19


1
ELC 310 Day 19
2
Agenda
  • First Student Case
  • Dell by G2
  • Email presentations at least 15 min before class
    so I may upload to web server
  • Discussion/lecture
  • Formulate a strategy to fill needs

3
Rest of Schedule
  • Today
  • Dell Online
  • G.Sumyla
  • Formulate a strategy to fill needs
  • Nov 20
  • Insite Marketing Technologies
  • G. Nagradic
  • Segmentation and Positioning
  • Nov 27
  • Terra Lycos
  • K. Pelletier
  • New Products
  • Nov 30
  • MarketSoft Corporation
  • L. Dubois
  • Communication and Selling
  • Dec 4
  • OSRAM Sylvania
  • G.Sumyla
  • Dec 7
  • Logistics.com A B
  • G. Nagradic
  • Build a Trusting Relationship with Customers
  • Dec 11
  • Travelocity
  • K. Pelletier
  • The Future of Digital Marketing
  • Dec 14
  • Citibank Online
  • L. Dubois
  • Written Case Study Due
  • Dec 20 _at_ 3PM
  • Quiz 4
  • Case Study Presentations Due

4
Overview
  • Strategy Formulation
  • Consumer Power
  • Theories P T
  • Trust based marketing
  • Strategic Choice
  • Push vs. Trust

5
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6
Strategy Formulation
  • Modified SWOT
  • Identify key marketing strategic success factors
    and rate your self against competitors
  • Much worse
  • Worse
  • Equal
  • Better
  • Much Better
  • 4 5 are strengths
  • 1 2 are weaknesses

7
Strategy Formulation
  • Identify specific market opportunities
  • Identify environmental threats
  • Match
  • Offensive Strategies
  • Strengths ltgt Opportunities
  • Strengths ltgt Threats
  • Defensive Strategies
  • Weaknesses ltgt Threats
  • Weaknesses ltgt Opportunities

8
Consumer Power
  • 3 factors drive consumer empowerment
  • More options (choices)
  • More Information
  • Simpler transactions
  • Can be an opportunity or a threat
  • Evidence of consumer power can be seen
  • Travel (death of the travel agency)
  • Health Care (self-diagnose, reviews)
  • Automobiles (price transparency)

9
McGregors Theories X Y
  • Douglas McGregor, X-Y theory in his 1960 book
    'The Human Side Of Enterprise'.
  • Theory X workers could be described as follows
  • Individuals who dislike work and avoid it where
    possible
  • Individuals who lack ambition, dislike
    responsibility and prefer to be led
  • Individuals who desire security
  • Theory Y workers were characterized as
  • Consider effort at work as just like rest or play
  • Ordinary people who do not dislike work.
    Depending on the working conditions, work could
    be considered a source of satisfaction or
    punishment
  • Individuals who seek responsibility (if they are
    motivated)

10
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11
Theory P T marketing
  • P ? Push based marketing
  • Customers
  • avoid decision-making responsibility
  • Are passive and must be coerced
  • Have difficulty learning and prefer to be
    influenced
  • Have little imagination
  • T ? Trust (advocacy) based marketing
  • Decision making is natural
  • Customers
  • Are active and want to control the buying process
  • Prefer to learn and make an informed decision
  • Have imagination, ingenuity and creativity

12
Trust based marketing
  • Four levels of trust
  • Belief that the companys statements might be
    true
  • Confidence in the statements of the company
  • Reliance on the company
  • True Trust customer delegates the right to make
    decisions and take action to the company
  • The Internet enables trust building

13
Strategic choice Push vs. trust
  • 3 Choices
  • Push marketing
  • Manipulate buyers
  • Maximize sales (high margin) with no regard for
    customer satisfaction
  • Ads to create hype (infomercials)
  • Selective trust
  • Match customers to products
  • Lost of honest information comparison to
    existing products
  • Value based pricing strategies
  • Good (not great) fulfillment customer service
  • Attempts at retention
  • Full trust
  • Advocacy for consumers
  • Under promise and over deliver
  • Unconditional customer service
  • Impeccable honesty

14
  • Leave the blocks that apply
  • Tilts left ? Push
  • Tilts right ? Trust
  • Balanced ? Selective

15
Choices
  • Theory P when
  • Low cost leader
  • Ill informed consumers
  • No need to build relationship
  • Theory T when
  • High quality product
  • Differentiation through innovation
  • Informed and educated consumers
  • Industry values relationships

16
Benefits of Theory T
  • No price competition
  • Provide real consumer value
  • High customer retention
  • Stable revenue streams
  • Higher sales volume without higher marketing
    costs
  • Positive PR and viral marketing
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