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All the knowledgeclips of Theories of Marketing
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Hereby, a 'transcript' of all knowledge clips of theories of marketing, whereby all the important parts are typed combined with examples.
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Knowledge Clip 1.1: Customer Experience ManagementWhat is Customer Experience?
Differentiation has become more and more important, so from adding isolated events or
specific sensory experiences to managing the entire brand experience in every
encounter
= The evolvement of a person’s sensorial, affective, cognitive, relational, and behavioral
responses to a firm or brand by living through a journey of touchpoints along pre-purchase,
and post-purchase situations and continually judging this journey against response
thresholds of co-occurring experiences in a person’s related environment.
So, focus on:
• Full sensorial response <> (need) satisfaction
• Customer journey <> product offering
• Other experiences beyond own company <> form alliances (from coffee to entire
coffee experience)
→ Taking the full journey into account → CEM: Development of network-oriented value
propositions
,How to succeed?
• Individual capabilities
• Technological
• Knowing where your customer is
• Analyzing data, be able to respond
Higher level:
Have the capabilities to set the strategic decisions
Higher level:
The culture with the values which guide the organization structure should be focused on
creating experiences.
At the end, this will give a capability which is difficult to copy, which gives a longer term
competitive advantage.
How does this relate to the Market Orientation Concept? (Narver & Slater)
Cultural mindset:
• Customer orientation
• Competitor orientation
• Cross-functional coordination (internally or departmental)
Strategic direction (not included)
Firm capabilities:
• Exploitative mindset (reactive)
,Conclusion
Marketing thought is context driven, but there is consistency as to the basic assumptions
since the last ‘marketing concept’ (the market as a starting point):
• Customers (and environment) are starting point for company success
• Differentiation by superior (network) value delivery
, Knowledge Clip 1.2: Network Paradigm
Achrol & Kotler (2012)
The marketing system - recent changes
Looking at the value chain, many things have changed in the last decade.
Suppliers → organization → distributors (=value chain)
Main change → because of the internet.
• Suppliers: different business functions
• Organization: letting go that every organization is a factory, they can outsource
• Distributions change → direct channels / multichannel possible (digitalization)
• Consumer change → from small consumption groups to world wide networks of
consumers.
Branding becomes more important. Companies became loosen from their production
process → outsourcing.
Companies are more dependent on their supplies → they make the products.
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