Essay about Marketing Man

2019 Words Feb 20th, 2013 9 Pages
February 05, 2013

Strategy from the Outside In: Profiting from Customer Value Write-Up - Part II

I. Introduction In Strategy from the Outside In: Profiting from Customer Value, George S. Day and Christine Moorman use research to determine business strategies that separate successful from unsuccessful firms. This write-up shall have a section, titled § II. Brief Summary, which outlines each chapter in Chapters 7 through 13, including the conclusion. This write-up shall also have a section, titled III. Application, which shall apply the material from § II. Brief Summary to a firm (hereinafter "Firm A") with which I worked as a business consultant. Firm A is a multi-national holding company that specializes in acquiring,
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First, to select customer assets, a firm may use customer lifetime value (CLV) models to value current and potential customers. Second, to develop customer assets, a firm may: (1) Create a learning relationship with customers; (2) Treat different customers differently; (3) Reward valuable customer behavior; and (4) Engage customers in communities. Third, to protect customer assets, a firm may: (1) Act proactively to differentiate value, rebuff competitors' challenges, and raise customer switching costs, etc; and (2) Increase customer engagement by fostering customer co-creation and creating multiple relationships. And fourth, to leverage customers, a firm may activate customers across current categories, migrate customers to a higher-value segment, and create complementary sources of value, etc.

Chapter 9. The Fourth Imperative: Capitalize on the Brand as an Asset

A firm, in order to capitalize on the brand asset, must do three things that emphasize the value-creating pathways – purchase and non-purchase – associated with brands. First, it must satisfy the first imperative of customer value leadership. Second, it must use brand-building activities to maximize the value proposition and strengthen brand reputation; brand-protecting activities to protect the brand and anticipate counter threats; and brand-leveraging activities. And third, it must support these actions with a comprehensive dashboard of brand metrics on customer recognition and recall,

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