Professional Documents
Culture Documents
Handbook
Christopher Liu (861018715)
Dr. Sean Jasso, Joseph
Business 103 Section 26
20.
Are you providing enough value to
price skim or are you pricing low for
penetration?
21.
Remember the STEPPS to making
companies stick.
a. Social Currency
b. Triggers
c. Emotion
d. Public
e. Practical
f. Stories
22.
Expanding is fine and dandy, but
economies of scale is not an end all
solution and nor is expanding resources.
Having more departments and experts
means nothing if they are not doing
anything other than costing money.
23.
Establishing a Vertical marketing
channel makes you important and difficult
to replace, which is good of course. It can
be hard to pull out of a vertical marketing
chain however, so tread carefully.
24.
What are customers really paying for?
What are you delivering?
a. Status
b. Quality
c. Prestige
d. Speed
e. Convenience
f. The brand promise
25.
How do you ensure the customer gets
what they want? An effective sales force
dedicated to the key targets (which is
hopefully the majority of the customers).
Also known as leveraged sales force.
26.
Advertising can be used effectively,
but its ultimately passive and dumb. It
is costly and difficult to gauge the
effectiveness.
27.
28.
If youre marketing a service,
remember the Ritz Carlton 3 Steps of
Service!
35.
Entering Red Ocean market is costly
and inefficient. High costs that end with
low margins.
36.
There are a few magic words in
marketing, advertising and direct
marketing. The most effective one is
Guaranteed.
37.
Free or even Free-Trial statistically
attracts customers. Free Trials makes
customers feel like they are losing
something they never even paid for and
will prompt many to sign up for your
service. The ethics of knowing how to
manipulate people is questionable
though.
38.
Traditional marketing uses research to
develop a product, test the market and
release the product. This is now getting a
bit too slow for todays dynamic and
volatile market.
39.
Knowledge-Based Marketing is a
replacement for the traditional approach.
It requires a certain scale of knowledge
that integrates customers into the design
process to guarantee a customers
strategies and needs are fulfilled. This
also identifies new market segments to
occupy and develop infrastructure to
maintain competitive edge.
40.
Experience-Based Marketing: Constant
interaction and creativity for more