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The Future of Marketing. Dipak Jain Kellogg School of Management Northwestern University. 1. What Challenges?. “Nano-second” Culture. 1. What Challenges?. “Nano-second” Culture “Hyper” Competition. 1. What Challenges?. “Nano-second” Culture “Hyper” Competition Demanding Customers. - PowerPoint PPT Presentation
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The Future of Marketing
Dipak Jain
Kellogg School of Management
Northwestern University
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1. What Challenges?
“Nano-second” Culture
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1. What Challenges?
“Nano-second” Culture
“Hyper” Competition
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1. What Challenges?
“Nano-second” Culture
“Hyper” Competition
Demanding Customers
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2. Meeting the Challenges: A Customer-Centric Approach
Doing business the way the customer wants to do it
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2. Meeting the Challenges: A Customer-Centric Approach
Doing business the way the customer wants to do it
Being close to customers and ahead of competition
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2. Meeting the Challenges: A Customer-Centric Approach
Doing business the way the customer wants to do it
Being close to customers and ahead of competition
Developing capabilities in attracting and retaining valuable customers
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RealizeMarketing is:
Product/ Service
Total Customer Experience
3. Customer Centricity:Major Shifts in Thinking
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RealizeMarketing is:
Product/ Service
Total Customer Experience
FocusOn:
Product Life Cycle
Customer Life Cycle
3. Customer Centricity:Major Shifts in Thinking
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RealizeMarketing is:
Product/ Service
Total Customer Experience
FocusOn:
Product Life Cycle
Customer Life Cycle
AnticipateCustomer’s:
Articulated Needs
UnarticulatedNeeds
3. Customer Centricity:Major Shifts in Thinking
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3A. Customer Life-Cycle
Customer Well-Being
(Health care and Wealth care)
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3A. Customer Life-Cycle
Customer Well-Being
(Health care and Wealth care)
Media and Entertainment
(Customer Engagement)
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3A. Customer Life-Cycle
Customer Well-Being
(Health care and Wealth care)
Media and Entertainment
(Customer Engagement)
Hospitality Services
(Tourism-Travel & Hotels, Restaurants)
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3B. Unarticulated Customer Needs
CUSTOMER NEEDS
EXISTING(Current, Articulated)
LATENT(Future, Unarticulated)
Objective:Serve Current Markets Create New markets
Critical Issues:Customer Expectations Customer Education/Trials
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3C. Total Customer Experience: Value Disciplines
PSYCHOLOGICAL
FUNCTIONAL ECONOMIC
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3C. Sustaining Customer Value
Maximize Customer Value =
Reduce customer cost of thinking Increase customer cost of switching
customer cost of switchingcustomer cost of thinking
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4. Branding
For Customers there should be a “clear” message
1. FedEx “Reliability”
2. Nike “The athlete in you”
3. Gap “Affordable fashion”
4. Singapore Airlines “Warm genuine attention & friendliness”
5. Star Alliance “Global Access”
NUS “ “Singapore “ “
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Branding: The Kellogg School
Why the Kellogg School?
L earning
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Branding: The Kellogg School
Why the Kellogg School?
L earning
O pportunities
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Branding: The Kellogg School
Why the Kellogg School?
L earning
O pportunities
V alues
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Branding: The Kellogg School
Why the Kellogg School?
L earning
O pportunities
V alues
E thics
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Branding: The Kellogg School
Why the Kellogg School?
L earning
O pportunities
V alues
E thics
Feel the LOVE@Kellogg
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5. Summary
Customer Centricity requires:
Anticipating customers unarticulated needs Enhancing customers’ total experience Simplifying customer purchasing process Building customer loyalty Realizing customers (internal & external) as true
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