Introduction to Marketing (extension)
Extension to register of Roland Schenkel Introduction to Marketing, Prof. Florian v. Wangenheim, D-MTEC ETH Zurich
Extension to register of Roland Schenkel Introduction to Marketing, Prof. Florian v. Wangenheim, D-MTEC ETH Zurich
Kartei Details
| Karten | 31 |
|---|---|
| Sprache | English |
| Kategorie | Marketing |
| Stufe | Universität |
| Erstellt / Aktualisiert | 27.12.2019 / 27.12.2019 |
| Lizenzierung | Kein Urheberrechtsschutz (CC0) |
| Weblink |
https://card2brain.ch/box/20191227_introduction_to_marketing_extension
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| Einbinden |
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Why conducting marketing research?
- discover latent needs (e.g. cars vs. horses --> customers were asking for faster transportation, not for cars)
- discover new, potentially profitable markets
Limitatinos of the 4 Ps
product oriented concept --> not applicable for service companies, internet companies, "free" service providers (Google search)
2 perspectives of maximazing CE
- Static perspective: focus on customer with highest predicted CLV --> hold & acquire high CLV customers
- Dynamic perspective: focus on customers for which CLV increase has the highest return to investment --> increase CLV of customers, focus on most reactive customers
Difficulties in measuring customer loyalty
- multi-dimensional construct: repurchase, word-of-mouth, cross-buying etc.
- differs across industries: contractual (telecom) vs. non-contractual (airline)
Buying behavior in case of high involvement & significant differences among brands
Complex buying behavior
Buying behavior in case of low involvement & significant differences among brands
Variety seeking buying behavior
Buying behavior in case of high involvement & few differences among brands
Dissonance-reducing buying behavior
Buying behavior in case of low involvement & few differences among brands
Habitual buying behavior
