9: Creating Sustainability Flashcards Preview

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Flashcards in 9: Creating Sustainability Deck (8)
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1
Q

Qantas case: why did they provide so much?

A

Priority check-in, priority upgrades, additional baggage allowance.

This causes customer retention, exit barriers, word of mouth.

It costs 6x more to gain customer

2
Q

Relationship management

A

Long-term orientation, commitment and fulfilment of promises, customer share not market share, customer lifetime value, to a dialogue, customisation

3
Q

Customer modes

A

Transactional – by something and just want to Buy it. Bothering = disturbance. (Bread, etc.)

Active relational mode – customer buys something and expects relationship and dissatisfied otherwise. (Hairdresser)

Passive relational mode - customer wants relationship when they want/need it (phone service provider)

4
Q

6 markets model

A

CUSTOMER MARKETS

  • influence
  • internal (employees- happy employees = happy customer)
  • referral (past customers that can recommend)
  • potential employee
  • supplier
5
Q

Customer retention strategies

A

Develop relational bonds

Build in switching barriers (economic - contracts, psychological- making people think it’s too hard to leave)

Reduce churn drivers (changing quality, opening hours etc)

Build a foundation for customer retention (need data on customers)

6
Q

CDI: customer data integration

A

A data management process where all customers and prospect data are consolidated to create a single accurate view of the customer.

Can you build relationships (using customer interests), customisation (changing what is offered to them) for example – Nike design own sneakers.

7
Q

Customisation

A
Mass individualisation
Co creation
User generated content
Crowd sourcing 
User innovation
Lead users 
Open source software - when developing software consumers can go in and change it - gamers)

E.g jetstar - can have what you want, have nothing if you want nothing

8
Q

Individualisation of product offering

A

Cosmetic customisation - changing exterior

Transparent - customer unaware of customisation e.g. coffee shop

Collaborative - doing it with them e.g. optician

Adaptive - a product the customer can customise them self e.g. lamp

develop relationship with customer and adapt communication method