Mark Final Flashcards

1
Q

Staircase Analysis

A

accentuates the steps that leads to a purchase decision: total marker -> awareness -> action -> adoption/loyalty

-It highlights the gaps where potential sales are lost

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2
Q

Customer satisfaction and loyalty

A
  • not a linear relationship
  • . In competitive environments customers are reasonable but they want to be completely satisfied. If they are not and have choice, they can be lured away easily
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3
Q

NPS Scores Limitations

A

will give you signals about customers (prospectors/detractors) but not reasons why they are prospectors or detractors

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4
Q

Volume Projections Cautions

A
  • Volume (sales) projections will always require KEY assumptions. Sometimes assumptions are exaggerated
  • Sometimes trial and repeat rates are difficult to determine
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5
Q

Brand Exploratory

A

1) Performance ex. Expensive, innovative
2) People ex. Wealthy, high class
3) Negative ex. Counterfeited, flashy
4) Sports ex. Tennis, golf
5) Image ex. Luxury, successful

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6
Q

Boston Consulting Group

A
  • Compares market growth rate with market share strength
  • Star (H/H) , Question Mark (H,L), Cash Cow (L,H), Dog (L,L)
  • Does not capture changes/trends in the market
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7
Q

RFM Model: Cautions

A
  • Model does not adjust customers who turned out to purchase intensively in a brief period of time and then never again
  • Does not account for customer profit
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8
Q

Identifying the Right Customers

A
  • Butterflies (high profitability, short term customers)
    o Actions: milk the accounts as long as they are active
  • Strangers ( Low profitability, short term customers
    o Make no investment in these relationships
  • Barnacles ( Low profitability , Long term customers
    o Measure both size and share of wallet
  • True Friends ( High profitability, Long term customer )
    o Communicate consistently
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9
Q

Revenue Pipeline

A

1) all names 2) engaged 3) prospects 4) leads 5) opportunity 6) customer

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10
Q

Effective Frequency

A

is the number of times that a message must be repeated in order to be useful. As a rule of thumb an estimate of three exposures per purchase cycle is used

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11
Q

Effective Reach

A

represents the number of people or the percentage of the audience that receives an advterising message with a frequency equal to or greater than the effective reach

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