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Designing the Marketspace Matrix

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Designing the Marketspace Matrix

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    1. Designing the Marketspace Matrix Annie Zhang Jinyi Shao Rohit Thimaiah 10th May, 2005

    2. Agenda A Consumer Perspective The Marketspace Relational Matrix The 2Is Using the Marketing Levers to Establish and Maintain Customer Relationships Designing the Marketspace Matrix

    3. A Consumer Perspective: The Marketspace Relational Matrix

    4. The 2Is

    5. Using the Marketing Levers to Establish and Maintain Customer Relationships

    6. Using the Marketing Levers to Establish and Maintain Customer Relationships, cont. Awareness Direct leverscommunication-based and controlled by the firm E.g. advertising & sales promotions Indirect leversstimulate third-party communications to create awareness E.g. publicity & WOM Exploration/Expansion Encourage an initial website visit and subsequent investigation of the site

    7. Using the Marketing Levers to Establish and Maintain Customer Relationships, cont. Commitment Encourage contribution to the relationship by offering products/services with superior value. Dissolution Levers are used to reduce customer value in order to reduce costs and encourage undesirable customers switching

    10. Designing the Marketspace Matrix Market Analysis

    11. Principles of Matrix Design Matrix design is a four-step process that helps marketing managers select and implement appropriate levers

    12. Step 1. Which levers are Customers Most Responsive to Base the levers on consumer behaviour Understand your consumers Choose levers to affect change E.g. Amozons 1-click ordering process

    13. Step 1. Cont., Which levers are Customers Most Responsive to Measure the impact of each lever Consider affecting factors Multiple metrics to measure levers for each stage Invest in levers with greatest impact Overcome barriers to advancement E.g. Handspring Barrier of product functionality Pricing lever E.g. Lands End Barrier of product triability

    14. Step 2. Which levers are Least Likely to Generate a Competitive Response Anticipate your competitors likely responses E.g. P&G Lose market share because of competitive response Build on your firms skills and resources Differentiation based on the unique and superior skills and resources Use levers consistent with the superiorities to create sustainable competitive advantages

    15. Step 3. Which levers work best together Look for interaction effects Advertising lever interactions Price promotion + advertising Produce design+ channel improvement/promotional campaign Branding interactions Brand + every other marketing lever Communication channel interactions Advertising vehicle + marketing message Product interactions Product type + advertising appeals Integrate across levers To create consistency and generate the desired effect

    16. Integration of Levers

    17. Step 4. Which levers work best together Levers create the position Support the choice of positioning in a certain target segment E.g. American Express: a personal invitation to potential customers are consistent with its positioning Focus on Superior Customer Value Functional benefits Symbolic benefits Hedonic benefits

    18. Functional, symbolic, and Hedonic Benefits

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