I went to a local mall at noon today to grab lunch and noticed a group of people standing at the entrance with yellow mall vests and clipboards in their hands. Since I’m in the marketing business, I immediately assumed they were taking a survey. A very nice young lady asked me if I had […]
I am a lifelong boater that loves to cruise on any body of water. As I was planning a cruise recently, I was thinking of some of the similarities between my planning on my boat and market planning. Yes, I know it sounds a little far-fetched, but I believe there are valid comparisons.
Have you ever thought about why customers buy your product? Is it because of your brand name or the product features and benefits, or maybe the persuasive copy written in the catalog? Or is it price?
You bet they do. Customer equity is the sum of the lifetime value of all its customers discounted over time. What drives customer equity? Three things drive customer equity: value equity, brand equity and retention equity. Let’s look at each one of these separately and see how they come together to form customer equity. Value […]
The One-Two Punch of Customer Relationships Are your current business relationships strong enough to survive this new economic environment? Will a competitor be able to get some business by offering an incentive or discount? Do your marketing and sales people understand how to cultivate relationships to prevent this? This is an ideal time to analyze […]
Day after day, B2B product manufacturing companies discuss the best way to increase their top line sales and improve their brand penetration. Often the discussion ends around the product improvement, a new business blitz, or on how they can move into new market segments to attract new customers. As the old proverb goes: the first […]