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COOKS consumer relevancy slideshow
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COOKS Incorporated
Consumer Relevancy Concept
• Business and consumer are talkingtwo different languages
• There is a gap between consumer expectations and business’ delivered satisfaction of needs
Why is there a new concept?
• Business developed a bias and a ‘myth consumer’
• Businesses only scratch the surface of the consumer psyche
• Consumers created a new set of needs
Why is there a new concept?
Why is there a new concept?
The currently existing concepts of consumer satisfaction tell to be the all-rounder in excellence (price, service, product, experience and access)
BUT: The meaning to consumers constantly shifts, all-round excellence is not appealing anymore!
Consumer Relevancy
What is consumer relevancy about?
• Focus on a few attributes instead of the entire range
• Emphasize context surrounding the offering as much as the content of the offering
• Building a meaningful and personal value set
Consumer Relevancy
What is consumer relevancy about?
“Human values are the contemporary currency of commerce.”
Reinforcement of consumers’ value set
Consumer Relevancy Concept
Consumer-centric transactions have 5 attributes:Price, product, service, access, experience
• Price - honest and consistent• Product - good rather than top quality• Service - Standardized and uniform treatment• Access - clear and specific navigation• Experience - respectful, enjoyable, non-entertaining
Consumer Relevancy Concept
Step 1:
Determining the company’s market position in the eyes of every kew stakeholder.
Consumer Relevancy Concept
Step 2:
Defining the type of human values the company should showcase to obtain maximum competitive differentiation according to the key stakeholders.
Consumer Relevancy Concept
Step 3:
Choose one attribute your company wants to dominate. (e.g. product)
Choose one attribute your company wants to differentiate on. (e.g. experience)
The other three attributes remain on an average level. (e.g. price, service, access)
Consumer Relevancy Concept
Access Experience Price Product Service
Provides a solution
Provides individual intimacy
Is the pricing authority
Generates inspiration
for customers
Provides customization
of products and services
If a business dominates on this
attribute, it . . .
Provides convenience
Shows care for the customer
Is consistent in its pricing
Generates reliability for
customers
Provides education for
customers
If a business differentiates itself
on this attribute, it . . .
Provides ease Shows respect for the customer
Is honest in its pricing
Generates credibility
with customers
Provides for accomodation for customers'
needs
If a business operates at
industry 'par' on this attribute, it . . .
. . . and customers seek the business
. . . and customers prefer the business
. . . and customers accept the business
Consumer Value Attributes
Consumer Relevancy Examples
Price Service Product Experience Access
Saturn, Geico Target, Honda, Staples, Pier 1, Dixons
Chuck E. Cheese, IKEA, Club Med
Avon, E*Trade
Audi, The Home Depot, BMW, Maytag, Continental airlines
American Express, Four Seasons
McDonald's, Progressive Corp., Circles
Primary Attibute
Price
Autozone, Tesco
Service
REI, Midwest Express, Nike Stores, The Disney Store, Harrod's, Bewley's
Amway, Walgreens, Yahoo, Land's End
Nordstrom, Circuit City, Citibank, Allstate, Superquinn
Wal-Mart, Ames, Costco, Red Roof Inns, Zara
Product
Willams-Sonoma, Best Buy
AOLSingapore Airways
Southwest AirlinesExperience
Eddie Bauer, Chase Bank, Whirlpool, Amazon.com, Lowe's
Milage.com, Starbucks
Dell, GatewayDollar General, Charles Schwab, VISA, Carrefour
Access
Seco
ndar
y A
ttrib
ute
Primary and secondary attributes of selected companies
What changed consumer behavior?
Consumers:
• stick to a more diverse and complex life and behavior pattern
• are fed up by information overload
• are part of a breakdown in social infrastructure. Consumer society vs. responsible society
COOKS Incorporated
Marketing & Communication
Laan der Verenigde Naties 40P.O. Box 100Dordrecht
T. +31 (0)78 613 30 00F. +31 (0)78 613 90 00E. [email protected]. www.cooks-inc.com
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