mkt100 Chapter Notes - Chapter 1: The Digital Age, Upselling
Document Summary
Share of customer the po(cid:396)tio(cid:374) the (cid:272)o(cid:373)pa(cid:374)y gets out of the (cid:272)usto(cid:373)e(cid:396)s" p(cid:396)odu(cid:272)t (cid:272)atego(cid:396)y ie. ca(cid:396) (cid:272)o(cid:373)pa(cid:374)y (cid:449)a(cid:374)ts (cid:373)o(cid:396)e (cid:862)sha(cid:396)e of ga(cid:396)age(cid:863) Cross-selling and up-selling to increase share of customer. Customer equity all (cid:272)usto(cid:373)e(cid:396)s" lifeti(cid:373)es" (cid:448)alues of all (cid:272)o(cid:373)pa(cid:374)y"s (cid:272)usto(cid:373)e(cid:396)s. Bette(cid:396) (cid:373)easu(cid:396)e of the (cid:272)o(cid:373)pa(cid:374)y"s pe(cid:396)fo(cid:396)(cid:373)a(cid:374)(cid:272)e as sales a(cid:374)d (cid:373)a(cid:396)ket sha(cid:396)e (cid:396)efle(cid:272)t past, (cid:272)o(cid:374)su(cid:373)e(cid:396) e(cid:395)uity reflects future. Good fit between company offerings and customer needs (cid:862)(cid:271)utterflies(cid:863) Good fit between company offerings and customer needs. Highest profit potential high profit potential (cid:862)(cid:271)arna(cid:272)les(cid:863) (cid:862)strangers(cid:863) Limited fit between company offerings and customer needs. Butterflies good fit between goods and needs but they are only around for short period of time ie. stock investors. Barnacles highly loyal but unprofitable ie. small bank customers (cid:449)ho do(cid:374)"t (cid:373)ake e(cid:374)ough to (cid:373)ai(cid:374)tai(cid:374) their accounts. 5 major developments: digital age, changing economic environment, growth of not-for-profit marketing, rapid globalization, call for more ethics and social responsibility. Digital/social media marketing using online tools to reach consumers 24/7.
