1 - rethinking marketing

Question 1

in old fashioned companies Brands performance measured by

Answer 1

aggregate sales and profitability

Question 2

new interactive environment of marketing

Answer 2

companies must shift to focus from driving transaction to maximizing customers lifetime value

Question 3

in new environments

Answer 3

brands are subservient to long-term customer relationship and that means changing the strategy and a structure across the organization

Question 4

today’s marketing

Answer 4

companies have a host of options at the disposal making such Mass marketing for two crude

Question 5

distinction between a traditional and a customer cultivating companies

Answer 5

one is organized to push products and Brands whereas the other is designed to serve customers and customer segments/communication is two-way and individualized or at least tightly targeted

Question 6

building relationships

Answer 6

product manager driven it’s an old fashioned customer manager driven is a new fashion

Question 7

examples of customer driven marketing space

Answer 7

IBM claims which is measured by the practices performance according to long-term customer metrics Tesco UK retailer caters coupons by mail or email to customers face up data analysis

Question 8

American Express marketing strategies

Answer 8

algorithms to determine customers next best product for example the first purchase of an upper class airline ticket on a gold card May get an invitation to upgrade to a platinum card or
by offering services to customers trusted circle of family members or partners or
based on life events like moving to a new home offering special membership Rewards

Question 9

CCO

Answer 9

Chief customer officers 30 in 2003 and 300 today

Question 10

as managers shifter Focus to customers

Answer 10

organizational structures that block information full must be torn down

Question 11

who are t-shaped people

Answer 11

deep knowledge of particular customer segments and knowledge of the firm and its products/ they use analytics and a statistics to get insight on the customer Behavior

Question 12

Market Research in customer Centric company

Answer 12

first extends beyond the marketing department to all areas including Finance
second the scope goes from aggregate to individual View
third market research Focus shifts to acquiring customer input that will drive Improvement in customer focus metrics

Question 13

integrating R&D and marketing

Answer 13

is it key to avoid feature fatigue be sure to future sales

Question 14

Nokia

Answer 14

in an industry the manufacturers must introduce scores of new offerings every year the ability to translate customers input about feature and value into hit product offering is legendary

Question 15

Delta customer service space

Answer 15

the negative impact on the quality of customer relationship wasn’t worth the cost saving of Outsourcing
now customer service specialist trying to work with the segments immediately I identifies the customer segments and routes her to a specialist

Question 16

focus on customer metrics

Answer 16

companies need to shift their focus from Brand Equity to customer equity

Question 17

old approach/new approach

Answer 17

product profitability / customer profitability
current sales / customer lifetime value
brand Equity / customer equity
market share / customer equity share