Cooks Consumer Relevancy Presentation

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A new consumer relevancy concept that allows businesses to improve their positioning.

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Cooks Consumer Relevancy Presentation

  1. 1. COOKS Incorporated Consumer Relevancy Concept
  2. 2. Why is there a new concept? • Business and consumer are talking two different languages • There is a gap between consumer expectations and business’ delivered satisfaction of needs
  3. 3. Why is there a new concept? • Business developed a bias and a ‘myth consumer’ • Businesses only scratch the surface of the consumer psyche • Consumers created a new set of needs
  4. 4. Why is there a new concept? The currently existing concepts of consumer satisfaction tell to be the all-rounder in excellence (price, service, product, experience and access) BUT: The meaning to consumers constantly shifts, all-round excellence is not appealing anymore!
  5. 5. Consumer Relevancy What is consumer relevancy about? • Focus on a few attributes instead of the entire range • Emphasize context surrounding the offering as much as the content of the offering • Building a meaningful and personal value set
  6. 6. Consumer Relevancy What is consumer relevancy about? “Human values are the contemporary currency of commerce.” ➤ Reinforcement of consumers’ value set
  7. 7. Consumer Relevancy Concept Consumer-centric transactions have 5 attributes: Price, product, service, access, experience • Price - honest and consistent • Product - good rather than top quality • Service - Standardized and uniform treatment • Access - clear and specific navigation • Experience - respectful, enjoyable, non-entertaining
  8. 8. Consumer Relevancy Concept Step 1: Determining the company’s market position in the eyes of every kew stakeholder.
  9. 9. Consumer Relevancy Concept Step 2: Defining the type of human values the company should showcase to obtain maximum competitive differentiation according to the key stakeholders.
  10. 10. Consumer Relevancy Concept Step 3: Choose one attribute your company wants to dominate. (e.g. product) Choose one attribute your company wants to differentiate on. (e.g. experience) The other three attributes remain on an average level. (e.g. price, service, access)
  11. 11. Consumer Relevancy Concept Consumer Value Attributes Access Experience Price Product Service Provides . . . and If a business Provides Generates Provides a Is the pricing customization customers dominates on this individual inspiration solution authority of products seek the attribute, it . . . intimacy for customers and services business If a business . . . and Generates Provides differentiates itself Provides Shows care for Is consistent customers reliability for education for on this attribute, convenience the customer in its pricing prefer the customers customers it . . . business If a business Provides for . . . and Generates operates at Shows respect Is honest in its accomodation customers Provides ease credibility industry 'par' on for the customer pricing for customers' accept the with customers this attribute, it . . . needs business
  12. 12. Consumer Relevancy Examples Primary Attibute Price Service Product Experience Access Saturn, Geico Target, Honda, Chuck E. Avon, E*Trade Price Staples, Pier 1, Cheese, IKEA, Dixons Club Med Primary Autozone, Tesco Audi, The Home Depot, BMW, Maytag, American Express, Four Seasons McDonald's, Progressive Corp., Circles Service and Secondary Attribute Continental airlines secondary Wal-Mart, Nordstrom, REI, Midwest Amway, attributes of Product Ames, Costco, Red Roof Inns, Zara Circuit City, Citibank, Allstate, Express, Nike Stores, The Disney Store, Walgreens, Yahoo, Land's End selected Superquinn Harrod's, Bewley's companies Experience Southwest Airlines Singapore Airways Willams- Sonoma, Best AOL Buy Dollar General, Dell, Gateway Eddie Bauer, Milage.com, Charles Chase Bank, Starbucks Access Schwab, VISA, Whirlpool, Carrefour Amazon.com, Lowe's
  13. 13. What changed consumer behavior? Consumers: • stick to a more diverse and complex life and behavior pattern • are fed up by information overload • are part of a breakdown in social infrastructure. Consumer society vs. responsible society
  14. 14. COOKS Incorporated Marketing & Communication T. +31 (0)78 613 30 00 Laan der Verenigde Naties 40 F. +31 (0)78 613 90 00 P.O. Box 100 E. info@cooks-inc.com Dordrecht W. www.cooks-inc.com www.twitter.com/cooksreclame www.youtube.com/cooksreclame www.slideshare.net/cooksinc

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