Transcript midpoint review

MIDPOINT REVIEW
Topic
Concept
Tools
Action
Case
CONSUMER BEHAVIOR
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Concept/Theory
– Information Processing
– Behavioral Theory
Tool
– Flow Chart
– Steps, Information, Decision Rules, Actions, Post Purchase
– Decision Unit, Multiple Participants
Action
– Design site for Conversion and Retention
Case
– Mother Nature: Acquisition and Retention
– Dell: Conversion
– Marketsoft: Sell to Pain
•What starts process?
INITIATION
•Role of past experience?
•Source of input.
•ADS/catalogs/email?
•Friends make input?
•Sources of information; Friends / media / web/ store?
AWARE/LEARN
•Active search? How much time?
•Where shop – store / catalog / internet?
•What learn? Products / technology / user experience / trends?
•Compare products?
DECIDE
•Role of price / quality – evaluation criteria
•Need to touch and feel?
•Impact of brand and trust?
•How do buyers gain confidence?
BUY
•Security / privacy assurance needed?
•Special offers
•Guarantees / refund policies?
•Need push to action – close sale
POST PURCHASE
•Word of month to friend/community
•Life time service?
•Relationship contract
•Delivers promised value
TRUST
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Concept/Theory
– Psychology
– Trust Cues and Perception
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Tool -Virtual Advisor
– Trust Cues
Actions
– Decide on Push -- Trust Dimension
– Design in Trust -- Currency of the Internet
– Real or Virtual Advisors
– Alternative Methodologies
Case
– InSite: Advisor
– Dell: Recommend / Learning
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Push
Full Trust
Commodity
Have best product
Price most important
Have good design feedback
Deal prone segment
Buyers getting info anyway
(infomediaries)
Need short term results
Trust key element
Expensive/complex products
Culture to sell our products only
Strong channel attitudes
Evolutionary stop
Have both price and relationship
segments
How much trust should you have in your eBusiness strategy?
PRODUCT DESIGN
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Concept/Theory
– Build Process
Tool
– Models / Market Research
– Information Acceleration
– Listen In
Actions
– Prevent Failure
– Do Research and Budget
– Hire Modeling Capability
Case
– Market Soft: eLeads and eOffers – suite
– Prime Response: Depth - Breadth
SEGMENTATION
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Concept/Theory
– Taxonomy
– Segment for Competitive Advantage
Tool
– Clustering
– Demographic, Psychographic, Product
– Data Mining
Action
– Decide Basis of Segmentation
– Use Data and Analytic Services
– Personalize
Case
– Mother Nature: Lifestyle – Data Mining
– Dell: Sophisticated Buyers
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MarketSoft: Marketing Manager
Prime Response: Vertical Markets
POSITIONING
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Concept/Theory
– Psychology
– Perception Simplicity
Tool
– Perceptual Map
– Needs Seen by Customers
– Preference Vectors
Action Do Maps
– Find Competitive Value Added
– Do Vectors and Benefit Segmentation
– Be First in But Position in Best Spot
Case
– InSite: Advisor
– Market Soft: Suite
– Prime Response: Campaign Management versus New Competition
Understanding Customers
Consumer Behavior
B2C vs B2B
Strategy Formulation
Trust vs. Push
Product Design
Segmentation
Positioning
Customer Acquisition
Advertising / PR / Selling
Pricing & Promotion
Distribution
Channel
Logistics
Relationship Building
Fulfillment
Service