Elastic customers - what you may not know
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Elastic customers - what you may not know

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Elastic customers - what you may not know Presentation Transcript

  • 1. Elastic Customers What you may not know Prabhu Consulting | www.prabhus.com
  • 2. Elastic Customers• Elastic customers are bargain hunters • Price sensitive • Coupon users • Price comparison experts Prabhu Consulting | www.prabhus.com
  • 3. Our Client• An online deals startup similar to froopon Prabhu Consulting | www.prabhus.com
  • 4. Assignment• Help us grow the revenue by x% and increase the customer base by y% Prabhu Consulting | www.prabhus.com
  • 5. What we didn’t do• Porter’s 5 forces• Strategy canvas• Value curve• Competitor Analysis• Marketing strategy• Mba 101 frameworks Prabhu Consulting | www.prabhus.com
  • 6. What we did• A quiz Prabhu Consulting | www.prabhus.com
  • 7. Quiz• If a product is cheaper in john lewis compared to currys, what would a typical elastic customer do? Prabhu Consulting | www.prabhus.com
  • 8. currys price match Prabhu Consulting | www.prabhus.com
  • 9. • If a product costs the same in both comet and currys, who will get the sale. Prabhu Consulting | www.prabhus.com
  • 10. Prabhu Consulting | www.prabhus.com
  • 11. • Some percentage of people compare quidco and topcashback too!• Prabhu Consulting | www.prabhus.com
  • 12. • If a product costs the same in both amazon and pixmania, who will get the sale.• Hint Prabhu Consulting | www.prabhus.com
  • 13. • Poor payment speed. Prabhu Consulting | www.prabhus.com
  • 14. • If a Nokia 2330 PAYG mobile is available for 99p + £10 topup, what would a typical bargain hunter do? Prabhu Consulting | www.prabhus.com
  • 15. CEX£11.01 profit! Prabhu Consulting | www.prabhus.com
  • 16. From Hotukdeals Prabhu Consulting | www.prabhus.com
  • 17. What’s the point?• Elastic customers are just that ........ elastic.• Multiple ways to save money. Price, price match, cashback, clubcard/nectar points, resale, eBay opportunities, returns policy, postage costs, brand name? Prabhu Consulting | www.prabhus.com
  • 18. Our approach• Consultants should convince the customers that they indeed “get it”• A strategy report approached from a frameworks point of a view just won’t cut it.• Our approach was purely empathic Prabhu Consulting | www.prabhus.com
  • 19. Result• Client is in the process of redesigning their website and the business model from scratch. Prabhu Consulting | www.prabhus.com
  • 20. About me• A freelance strategy consultant with focus on business model innovation.• Email: me@prabhus.com Prabhu Consulting | www.prabhus.com