Consumption chain
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Consumption chain

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Ever wonder when a customer actually thinks about your product or service? This workshop can help you to determine how to market your services at moments when they do.

Ever wonder when a customer actually thinks about your product or service? This workshop can help you to determine how to market your services at moments when they do.

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Consumption chain Presentation Transcript

  • 1. The consumption chainFinding opportunities for business growthYellowbird Marketing Solutions
  • 2. Your Consumption ChainWhere on the consumption chain can you provide value to your customers?Yellowbird Marketing Solutions
  • 3. Awareness of needHow do customers become aware of their need for something you can provideor a problem you can solve?Copyright © 2011 Yellowbird Marketing Solutions
  • 4. The SearchHow do customers identify alternative solutions?The key objective here is to increase product visibility.Copyright © 2011 Yellowbird Marketing Solutions
  • 5. SelectionWhy does the customer pick one solution over another?Copyright © 2011 Yellowbird Marketing Solutions
  • 6. Order & PurchaseWhat must a customer do to buy from you?Is there something you can do at the point of sale to differentiate yourself?Copyright © 2011 Yellowbird Marketing Solutions
  • 7. DeliveryHow does your offering get from you to your customer?Copyright © 2011 Yellowbird Marketing Solutions
  • 8. PaymentHow does a customer pay?Optimizing the payment link can improve business in multiple ways.If the payment is more convenient, that helps to differentiate you.Copyright © 2011 Yellowbird Marketing Solutions
  • 9. ReceiptOnce the customer has the product, then what?Copyright © 2011 Yellowbird Marketing Solutions
  • 10. Installation and AssemblyHow does the customer put the product to work?Copyright © 2011 Yellowbird Marketing Solutions
  • 11. Storage and TransportWhat bothers or worries the customer about storing the product,or having access to it or watching what is happening with it?Copyright © 2011 Yellowbird Marketing Solutions
  • 12. ServiceWhat happens when the offering needs service?Copyright © 2011 Yellowbird Marketing Solutions
  • 13. Repairs and MaintenanceWhat happens when the offering needs to be repaired, or is returned or canceled?Copyright © 2011 Yellowbird Marketing Solutions
  • 14. DisposalWhat happens when the product is no longer of any use and needs to be disposed of?Copyright © 2011 Yellowbird Marketing Solutions
  • 15. Sustainable Competitive AdvantageA competitive advantage exists when the firm is able to deliver the same benefits ascompetitors but at a lower cost (cost advantage), or deliver benefits that exceed those ofcompeting products (differentiation advantage). Thus, a competitive advantage enablesthe firm to create superior value for its customers and superior profits for itself.Copyright © 2011 Yellowbird Marketing Solutions
  • 16. Advantage Target Scope Low Cost Product Uniqueness Cost Leadership Differentiation Broad (Industry Wide) Strategy Strategy Focus Focus Narrow Strategy Strategy (Market Segment) (low cost) (differentiation)Cost Leadership StrategyThis generic strategy calls for being the low cost producer in an industry for a given levelof quality. The firm sells its products either at average industry prices to earn a profithigher than that of rivals, or below the average industry prices to gain market share.Copyright © 2011 Yellowbird Marketing Solutions
  • 17. Advantage Target Scope Low Cost Product Uniqueness Cost Leadership Differentiation Broad (Industry Wide) Strategy Strategy Focus Focus Narrow Strategy Strategy (Market Segment) (low cost) (differentiation)Differentiation StrategyA differentiation strategy calls for the development of a product or service that offersunique attributes that are valued by customers and that customers perceive to be betterthan or different from the products of the competition.Copyright © 2011 Yellowbird Marketing Solutions
  • 18. Advantage Target Scope Low Cost Product Uniqueness Cost Leadership Differentiation Broad (Industry Wide) Strategy Strategy Focus Focus Narrow Strategy Strategy (Market Segment) (low cost) (differentiation)Focus StrategyThe focus strategy concentrates on a narrow segment and within that segment attempts toachieve either a cost advantage or differentiation. The premise is that the needs of thegroup can be better serviced by focusing entirely on it. A firm using a focus strategy oftenenjoys a high degree of customer loyalty, and this entrenched loyalty discourages otherfirms from competing directly.Copyright © 2011 Yellowbird Marketing Solutions
  • 19. Advantage Target Scope Low Cost Product Uniqueness Cost Leadership Differentiation Broad (Industry Wide) Strategy Strategy Focus Focus Narrow Strategy Strategy (Market Segment) (low cost) (differentiation)Your choiceTo be successful over the long-term, a firm must select only one of these three genericstrategies. Otherwise, with more than one single generic strategy the firm will be "stuck inthe middle" and will not achieve a competitive advantage.Copyright © 2011 Yellowbird Marketing Solutions