Marketer responses and adjustments Tuesday, August 27, 2019

Marketer responses and adjustments:
Relationship Marketing: From focusing transactions to building Long Term profitable Customer Relationships. The 80-20 rule
Customer Lifetime value: From making a profit on each sale to making Profits by managing Customer Lifetime value. Like the EDLP of Wal-Mart
Customer Share: From focusing on gaining on Market Share to focusing on gaining Customer Mindshare by selling a large variety of goods and services, training employees to do Cross-selling and Up-selling
Target Marketing: From selling to everyone to serving better well defined market segments

Individualization: From selling the same offer in the same way in the target market to individualization and Customization. Customers designing their own products on the web pages and all
Customer Database: Customer Knowledge Profiling, Data Mining, Data Warehousing, purchase preferences, demographics
Integrated Marketing Communication: From relying on one communication tool like advertising and Promotion to blending several tools to deliver a consistent brand image to customers at every brand contact
Channels as Partners: From thinking of intermediaries as Customers to treating them as Partners in delivering value
Every Employee as a Marketer
Model based Decision making: From making decisions on intuition to basing decisions on models and facts.


Quote : Marketing Management by Philip Kotler 10th Edition