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Thriving with Marketing 3.0
Philip Kotler
Jeddah, Saudi Arabia,
October 10, 2010
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Winning in Hard Times
Session One. How to meet todays and tomorrows challengeswith Marketing 3.0.
Session Two. How to increase your brand power.
Session Three. How to manage sales and marketing.
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Session 1.
Using Marketing 3.0 to Meet the New Challenges
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On a scale of 1 to 3 (3 = highest),
How much is this a challenge to your company?
Distrust of business
Globalization
Economic recession and turbulence
Technological advances and disruptions
Environmentalism and climate change
The new social media
Political and regulatory changes
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Is Your Company Going to Fail?
Signs to Watch for
James Collins wrote in How the Mighty Fall:
Stage 1. Successful companies get arrogant andthink they can do many things.
Stage 2. They pursue aggressively wild growth. Stage 3. They ignore early warning signs of failure
Stage 4. Their failure becomes very public.
Stage 5. If they dont reform, they finally go
bankrupt.
Consider General Motors.
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Economic Recession and Turbulence
Distinguish between:
Recession
Disruption
Turbulence Risk reduction strategies
Larger reserves
Shared investments
Early warning systems
Scenario planning
Corporate social responsibility
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Disruptive Technologies
OLD
Photographic film
Wired telephones
Store retailing
Classroom education
Offset printing
General hospitals
Open surgery Cardiac bypass surgery
Manned fighters
Full service stock brokerage
NEW
Digital photography
Mobile telephones
On-line retailing
Distance education
Digital printing
Outpatient clinics
Endoscopic surgery Angioplasty
Unmanned aircraft
On-line stock brokerage
Source: Clayton M. Christensen, The Innovators Dilemma, p. xxix.
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Tomorrow Will Be Different
Yesterday Today Tomorrow
Ford Toyota Cherry
Department stores Wal-Mart Internet retail
Digital Equipment Dell RIM Blackberry
Delta Southwest, Ryan Air SkyWest, Air taxis
IBM Microsoft Linux
At&T Cingular Skype
Sony DiskMan Apple iPod Cell Phones
Source: Clayton Christensen
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Consider How Marketing
Has Changed
Old definition of marketing Act or practice of advertising and selling a product (Random
House Webster Dictionary of American English 1997)
New definition of marketing Marketing is the activity, set of institutions, and processes for
creating, communicating, delivering, and exchanging offeringsthat have value for consumers, clients, partners, and society atlarge. (American Marketing Association, 2008)
Offerings include products, services, experiences, places,persons, ideas, and causes
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Sales Precedes Marketing
In the beginning there was sales.
Marketing appeared later to help sales people:
By using marketing research to size and segment themarket
By using communications to build the brand anddevelop collateral materials
By finding leads through direct marketing and tradeshows
Marketing was originally located in the sales department.
Then marketing grew as a separate department responsiblefor the marketing plan (4Ps) and brand-building.
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Stages in the Development
of the Marketing Discipline
1. Selling stage. (the idea of setting up selling systemsinvolving distribution, sales people and advertising).
2. 4P stage. (the idea of integrating the marketing tools).
3. STP stage. (the idea of refining the market targets andbranding).
4. Customer Relationship stage. (the idea of building a loyalcustomer base).
5. Co-creation stage. (the idea of involving customers in
developing products and communications).
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Marketing Objective, Process,
and Philosophy
CCDVTP
R -> STP -> MM -> I -> C
CIB
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MARKETINGS RECENT LOSS OF EFFECTIVENESS
MARKETING will be less
effective in the next few
years
Marketing budgets will be
lower
Companies will want
marketers to do more with
less
DISTRIBUTORSTRADITIONAL
MEDIACOMPETITION
SOCIAL MEDIA
NETWORKSPUBLIC
DISTRIBUTORS will
demand more TRADE
PROMOTION. This will
leave less money for
marketing research,
advertising and consumer
promotion for brand
building and ultimatelyreduce brand equity.
Investors will then
downgrade the stock.
This will leave the
company with fewer
resources to prop up
demand.
This is a VICIOUS
CIRCLE
Traditional media such
as TV 30-second spots,
newspapers, etc., are
growing LESS
EFFECTIVE
Categories are so
crowded with
competitors that
heavy price cutting
will be UNAVOIDABLE
The public, in its wish
to spend less, will be
less inclined to pay
higher prices for top
brands where the
quality differences are
minimal. There is a
strong shift to storebrands and sub-
brands. This means
that top brands are
overvalued and there
may be a brand
bubble.
Social media networks
will play an
increasingly influential
role in shaping brand
evaluations
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STRATEGIC vs TACTICAL MARKETING
Most marketing departments are engaged in brand-maintenance instead ofbrand-
building.
Company marketers spend only 15-30% of their time doing true marketing activities.
The rest of the time is spent on forecasting volume, securing approvals on label
artwork, checking manufacturing schedules, and doing routine analysis.
Strategic marketing is missing in many marketing departments. Strategic marketing
requires taking a 3-5 year view of the business.
Downstream
Marketing
Upstream
Marketing
Markets TODAYs Product Create TOMORROWs Product
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The Age of Social Media.
Marketers have Lessening Influence
in Shaping Their Brand Image
Managers listened to the
consumers voices to understand
their minds and capture market
insights
Consumers play the key role of
creating the value through co-
creation of product and service
Person-to-person conversations
about many products can exceed the
amount of communication under the
companys control.
Thus a brand can be hijacked.see Alex Wipperfrth, Brand Hijack: Marketing
without Marketing, New York: Portfolio, 2005
FOUR POSSIBILITIESEveryone is talking negatively about
the company
There is no talk about the company
The talk is a mix of good and badcomments
Virtually all the talk is favorable
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EVOLUTION OF MANAGEMENT THINKING
1950s 1960s 1970s 1980s 1990s 2000s 2010s 2020s
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THE FUTURE OF MARKETING
TODAYS MARKETINGCONCEPT FUTURE MARKETINGCONCEPTS
PRODUCT
MANAGEMENT
CUSTOMER
MANAGEMENT
BRAND
MANAGEMENT
The Four Ps(Product, Price, Place,
Promotion)
The STP(Segmentation, Targeting,
and Positioning)
Brand Building
CO-CREATION
COMMUNITIZATION
CHARACTER
BUILDING
THE DISCIPLINESOF MARKETING
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CO-CREATION
Evolution of a companys relationship to its customers:
Make a ProductRefine the
Product
Invite
Customers
with minimal
customer testing
with extensive
customer input and
testing
to provide ideas and
co-create
The new ways of creating product and experience through collaboration of companies,consumers, suppliers, and channel partners interconnected in a global network of
innovation
C.K. Prahalad and M.S. Krishnan, The New Age of Innovation: Driving Co-created Value Through Global Networks, New York:
McGraw-Hill, 2008
Three key processes of :
1 2 3 Ask for consumer feedback and
enrich the platform by
incorporating all the
customization efforts made by
the network of consumers.
Individual consumers
customize the platform
to match their own
unique identity.
A company creates a
platform.
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MARKETING 1.0 vs MARKETING 2.0 vs MARKETING 3.0
Product-centric
Marketing
Customer-oriented
Marketing
Value-driven
Marketing
Objective
Enabling Forces
How companies see
the market
Key marketing
concept
Company marketingguidelines
Value propositions
Interaction with
consumers
MARKETING 1.0 MARKETING 2.0 MARKETING 3.0
Sell productsSatisfy and retain the
consumers
Make the world a better
place
Industrial Revolution Information Technology Social Media
Mass Buyers with
Physical Needs
Smarter Consumer with
Mind and Heart
Whole Human with
Mind, Heart, and Spirit
Product development Differentiation Values
Product specification Corporate and ProductPositioning
Corporate , Vision,Values
FunctionalFunctional and
Emotional
Functional, Emotional,
and Spiritual
One-to-Many
Transaction
One-to-One
Relationship
Many-to-Many
Collaboration
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Deliver
SATISFACTIONRealize
ASPIRATIONPractice
COMPASSION
ProfitAbility ReturnAbility SustainAbility
Be BETTER DIFFERENTIATEMake a
DIFFERENCE
Mind Heart Spirit
Mission(Why)
Vision(What)
Values(How)
INDIVIDUAL
COMPANY
Values-Based Matrix Model
Deliver
SATISFACTIONRealize
ASPIRATIONPractice
COMPASSION
ProfitAbility ReturnAbility SustainAbility
Be BETTER DIFFERENTIATEMake a
DIFFERENCE
Mind Heart Spirit
Mission(Why)
Vision(What)
Values(How)
INDIVIDUAL
COMPANY
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For SC Johnson, creatingsustainable economicvalue means helping
communities prosper whileachieving profitable growth
for the company.
Sustaining Values:SC Johnson Public
Report
We believe ourfundamental
strength lies in ourpeople.
MIND HEART SPIRIT
Promoting reusable
shopping bags Base of the Pyramid
MissionContributing to the community
wellbeing as well as sustaining
and protecting the environment
VisionTo be a world leader in delivering
innovative solutions to meet
human needs through
sustainability principles
ValuesSustainability
We create economic value
We strive for environmental
health
We advance social progress
S. C. JOHNSON VALUE-BASED MATRIX
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Companies Americans Love
Amazon, Best Buy, BMW, CarMax,
Caterpillar, Commerce Bank, Container
Store, Costco, eBay, Google, Harley-
Davidson, Honda, IDEO, IKEA, JetBlue
Johnson & Johnson, Jordan's Furniture,
L L Bean, New Balance, Patagonia,
Progressive Insurance, REI, Southwest,
Starbucks, Timberland, Toyota, Trader
Joe's, UPS, Wegmans, Whole Foods.
The researchers found these firms of
endearment to be highly profitable.
They also found eight characteristics
common to these firms.
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Characteristics of Firms of Endearment
They align the interests of all stakeholder groups
Their executive salaries are relatively modest
They operate an open door policy to reach top management
Their employee compensation and benefits are high for thecategory; their employee training is longer; and their employeeturnover is lower
They hire people who are passionate about customers
They view suppliers as true partners who collaborate inimproving productivity and quality and lowering costs
They believe that their corporate culture is their greatest assetand primary source of competitive advantage.
Their marketing costs are much lower than their peers whilecustomer satisfaction and retention is much higher.
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Consumers
Employees
Channel Partners
Shareholders
Marketing the Mission to
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Marketing 1.0 Marketing 2.0 Marketing 3.0MIND HEART SPIRIT
PRODUCT-
CENTERED
CUSTOMER-
ORIENTED
VALUES-DRIVEN
ECONOMIC- VALUE PEOPLE-VALUE ENVIRONMENT-
VALUEPROFITS SOCIAL PROGRESS SUSTAINABILITY
MOVING TOWARD MARKETING 3.0
Where is your company now?Where do you want it to be?
Why?
What would steps would you take?
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The Challenge
Re-moralize the market
Re-localize the economy
Re-capitalize the poor
S i 2 I i Y
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Session 2. Increasing Your
Branding Power
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The brand name may account for more than half
of the brand value on the balance sheet.
Almost 70% of the market capitalization of such brands as Nike and Prada lie in itsintangibles, especially the brand.
The former chairman of Quaker Oats said: If the business were split up, I would
take the brands, trademarks, and goodwill, and you could have all the bricks and
mortarand I would fare better than you.
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Whats In a Name? Everything!
Donald Trumps family name is
Dumpf. Drumpf Towers?
Alphonso DAbruzzo renamed
Alan Alda.
Chinese gooseberry renamed kiwifruit.
Hog Island in the Bahamas renamed ParadiseIsland.
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Your Brand Needs to
Own a Word
Mercedes - engineering BMW- driving
Disney- family fun entertainment
Saturn - no hassle car buying
FedEx- overnight Wal-Mart- low prices/good values
Hallmark- caring
Nike - performance
3M - innovation
Volvo - safety
Starbuck- best coffee experience
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A Brand Must be More Than a Name
A brand must trigger words or associations (features and
benefits).
A brand should depict a process (McDonalds, Amazon).
A great brand triggers emotions (Harley-Davidson).
A great brand represents apromise of value (Sony).
The ultimate brand builders are your employees andoperations, i.e., your performance, not your marketing
communications.
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Brand Asset Valuator Model
ENERGIZED
DIFFERENTIATION
The brands pointof difference
Relates to marginsand cultural currency
ESTEEMHow you regard thebrand
Relates to perceptionsof quality and loyalty
KNOWLEDGE
An intimateunderstandingof the brand
Relates to awareness andconsumer experience
RELEVANCE
How appropriate thebrand is to you
Relates to considerationand trial
Leading IndicatorFuture Growth Value
Current IndicatorCurrent Operating Value
BRAND STRENGTH BRAND STATURE
Figure 2: BrandAsset Valuator Model
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LEADING B2B BRANDING
COMPANIES
DuPont
Siemens
Bosch
General Electric
Saint-GobainUPS
FedEx
Tentra Pak
Microsoft
Caterpillar
IBM
Daimler
Michelin
Tata Steel
Morgan Stanley
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Find a Way to Brand These Commodities
Chicken
Cement
Bricks
It is possible to brand sand, wheat, beef, bricks, metals, concrete, chemicals,
corn grits, bananas, apples, aspirin, (Sam Hill, How to Brand Sand).
CAN YOU DESIGN NEW FEATURES FOR AN AUTO INSURANCE POLICY?
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Creating genuine customer value: Progressive Insurance
Name Your Price lets
customers customize theirpolicy to fit their budget.
I want an easier way to see how I can
meet my insurance needs at a great
price.
MyRate rewards lower risk
drivers with lower rates. I dont drive a lot of miles, Im a safe
driver, and Im not usually on the road
late at night when accidents are most
likely to happen. Since Im less likely to
be in an accident, shouldnt I pay less for
car insurance?
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Build a Brand Community!
Examples: Harley Davidson, Saturn, Porsche,BMW, Apple user groups, Lexus owners, Barnesand Noble bookstores, The Body Shop, Ikea.
Harleys Owner Groups:
HOGs have 250,000 members divided into 800
chapters: VietNam vets, lesbians, born againChristians, Ladies on Harleys.
Tools include: Rallies, anniversaries, lectures onmaintenance and safety, competitions, shows,internet sites.
The researchers describe Harley as a religious iconaround which an entire ideology of consumption isarticulated.
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Develop a Memorable Brand Slogan
BA, The Worlds Favorite Airline
American Express, The Natural Choice
AT&T, The Right Choice
Budweiser, King of Beers
WHAT DO YOU THINK OF THESE SLOGANS Ford, Quality is #1 Job
Holiday Inn, No Surprises
Lloyds Bank,The Bank that Likes to Say Yes
Philips, From Sand to Chips Philips Invents for You
Lets Make Things Better
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BRAND JOURNALISM
Brand Positioning = Brand Journalism
Marketers should communicate different messages to different marketsegments at different times, as long as they broadly fit within the basic
brand image.-Larry Light, former McDonalds CMO-
McDonalds is positioned differently in the minds ofkids, teens, youngadults,
parentsand seniors. It is positioned differently at breakfast, lunch, dinner,
snack, weekday, weekend, withkidsor on a businesstrip.
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Responsible,
Locally involved
Fairly
Priced
Brand
MantraRich, Rewarding
Coffee Experience
Relaxing,
Rewarding
moments
Reach sensory
consumption
experience
Convenience,
Friendly
service
Varied, exotic
coffee drinks
Fresh, high
quality coffee
Totally
integrated
system
24 hour
training of
baristas
Caring
Green &Earth Colors
Triple
Filtrated
water
Sirenlogo
Stock option/
health benefits
or baristas
Thoughtful
Contemporary
CONSUMERTARGETDiscerning Coffee
Drinker
CONSUMER
INSIGHTCoffee and the
drinking experience
is often unsatisfying
CONSUMER
NEED STATEDesire for better
coffee and a betterconsumption
experience
CONSUMER
INSIGHTLocal cafes, Fast
food & convenience
shops
CONSUMER
TAKEAWAYStarbucks gives
me the richest
possible
sensory
experiencedrinking coffee
HYPOTHETICAL STARBUCKS BRAND POSITIONING BULLSEYE
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40
The Mercedes-Benz Enduring Passion
The brand Mercedes-Benzis a brand icon, from its founding day till today.
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Measure Your Brand Effectiveness
Customer perceived value
Customer satisfaction
Customer repeat purchase
Customer advocacy
Customer co-creation
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The GOOD Outdoor-
inspired Footwear
and ApparelCompany
Engaged Citizenship
Environmental
Stewardship
Global HumanRights
The 3i Model of Branding
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SUSTAINABILITY AND SHAREHOLDER VALUE
There is a link between corporate sustainability and strong shareprice performance.
Companies that put more emphasis on social and environmental impacts
reported annual profit growthof16% and share price growth of
45% while those from companies that did not put a lot of emphasis reported
annual profit growth of only 7%and share price growthof only
12%. (Economist Intelligence, 2008)
More executives believe that the concept of sustainability is good for
corporations in attracting consumers and employees and improving
shareholdervalue.
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TRACKING SUSTAINABILITY
Needed: indices that measure how well a company performs in the triple
bottom line:profit, planet, and people.
The AIM:
To encourage companies to improve their economic, environmental, and social
impact on the society.
Company Approach
FTSE4Good Index Good companies work toward environmental sustainability, have
positive relationship with all stakeholders, protect universal human
rights, possess good supply chain labor standards, and counter
bribery practices
Dow Jones
Sustainability Index
Corporate sustainability as a business approach that creates long-
term shareholder value by embracing opportunities and managing
risks deriving from economic, environmental and social
developments.
Goldman Sachs Introduce the GS Sustain Focus List, which includes the list of
companies with sustainable practices
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Selling Sustainability to Investors
To convince shareholders, the company needs to provide tangible evidence
that the practice of sustainability will improve shareholder value by creatinga competitive advantage.
?
Sustainability
Profitability Returnability
The issue is to find a
linkage of between
sustainability,
profitability, and
returnability
THREE important metrics that can be quantified financially:
Improved cost productivity
Higher revenue from new market opportunities
Higher corporate brand value
(For details, see Marketing 3.0).
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Session 3.
Ending the War Between
Sales and Marketing
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Sales and Marketing Complaints
An Oracle salesperson told us, Marketing sends us business cards they
collect at trade shows from people who dont need us and dont want to
see us. They call these things leads.
Marketing says We generate about 25,000 leads a year for sales. Most of
these leads arent followed up and go cold.
Marketing, a senior airline sales manager told us, are the people who
come up with these fancy value propositions that mean nothing to
customers but do tell us how out of touch they are with business reality.
The Head of Marketing had a different perspective. We have a value
proposition thats powerful if only our sales force knew how to sell it.
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The Six Key Responsibilities
of the CMO
1. Gather meaningful customer insights.
2. Strengthen the brands.
3. Drive new product development based on customer
needs.4. Utilize new marketing technology.
5. Measure marketing effectiveness.
6. Improve marketings working relation with the other
functions.
Source: Adapted from a McKinsey study
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The integration of sales and marketing tends to progress throughfour distinct stages or levels of complexity.
Define the Existing Level of Relationship
Undefined Defined Aligned Integrated
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Selling Funnel
Purchase
Intention
Marketing SalesHandoff
Customer
Awareness
Brand
Awareness
Brand
Consideration
Brand
Preference
Purchase Loyalty Customer
Advocacy
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Integrating Customer Management
Into the Sales Funnel
Purchase
Intention
Purchase Loyalty Customer
Advocacy
Prospecting Qualifying Defining
NeedsDeveloping
Solutions
Proposal
Preparation/
Presentation
Revision &
Issue Resolution
Contract
NegotiationImplementation
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Sales becomes value
creation, not value communication
So the role of sales is to addvalue to our mousetrap
Theres not enough value in the
mousetrap to differentiate us fromcompetition
Our mousetrap is one of many waysto kill mice
2009 Neil Rackham
The Alternative Business Model
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Two Customer Value Types
2010 Neil Rackham
Value= Benefits Cost
Consultative
Customers
Transactional
Customers
Know whatthey want
Treat you as a
commodity Buy on price
andconvenience
Have aproblem
Value your
time Buy on
expertiseand trust
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2010 Neil Rackham
Five years ago
TRANSACTIONAL CONSULTATIVE
Advice focus
Expertise decision Want meetings
10% were
transactional
10% were
consultative
Most customers would pay a
little extra for some advice
Cost focus
Convenience Decision Dont want to meet
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2010 Neil Rackham
Customers Today
TRANSACTIONAL CONSULTATIVE
Advice focus
Expertise decision Want meetings
More buytransactionally
The middle is going away.
Cost focus
Convenience Decision Dont want to meet
More want deeperconsultative
relationships
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Todays Value Propositions
2010 Neil Rackham
Today, depending on what they are buying, the
value propositions customers want are:
Well use our
expertise to
solve your
problems and
create custom
solutions, for
which wellcharge you a
premium.
Well offer you
cheap and
convenient
products, but dont
expect extras.
OR
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Competencies for Transactional Sales
2010 Neil Rackham
Transactional
Sales
Branding Advertising
Trade shows
Campaigns
Multi-customer
events
DirectMarketing
Internet
Call centers
Wh i M k i G i ?
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Where is Marketing Going?
More companies are adopting a market and customer
orientation
47% of Fortune 1000 firms have a CMO (80% have a CFO).
Your CMO should be an active participant in the companys
strategic planning group.
Decide if you want your company to become market-driven or
market-driving.
MESSAGE
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MESSAGE
Withi fi if
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Within five years, if you run your
business in the same way as you do
now, youre going to be out of
business.
Philip Kotler