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29 Cards in this Set
- Front
- Back
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4 stage continuum
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product awareness
preference purchase repeat purchase |
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demand-centered pricing
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price discounts
price bundling pricing cues: -sales signs -prices that end in 9 price matching signpost items incidental pricing focus on attracting new customers |
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consumption centered pricing
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focus on repeat purchase b/c use product/service
staggered pmts timing of pmts methods of pmts - cash better |
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managerial implications of price unbundling
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smooth demand and increase consumption
max consumption safely oversell |
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economic pricing
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fixed and variable costs of product
competitor's prices objective value subjective/perceived value consumer's perceived/subjective value>price goods>COGS |
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psychological/behavioral pricing
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relativity of incentives
impact of reference price nature of product impact of COGS how fair a deal consumers think they are getting |
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ambient cues
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intro nto retail of music, scents, and lighting
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music
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must be congruent fit w/strategy
increases brand recall, message recall, and mssg recognition customers spend more time shopping when unfamiliar music is played |
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tempo of music
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walk slower when slower music is playing in retail
restaurant: customers eat faster when faster music is playing |
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high affective items
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lvl of emotions the purchase arouses in the consumer
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low cognitive items
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refer to the limited intellectual knowledge the consumer has of the product being purchased
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scents as a sensory stimulus
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same area of the brain which controls memory also processes sense of smell
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CRM systems
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call centers, web sites, customer service and support teams and loyalty programs
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why 55% companies fail
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implement CRM tech initiative b4 developing a traditional customer-oriented strategy based on meeting customer needs. will work only after a traditional customer acquisition and retention strategy has been developed and implemented.
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how to ID customer needs
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segmentation analysis, product differentiation and customization, and product positioning
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CL (customer loyalty) is the result of:
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customer satisfaction
value of goods sold/services satisfied, loyal, and productive employees employee satisfaction which results from high quality support services and company policies which enable employees to deliver valuable results to consumers can be put into place by enlightened CEO leadership which fosters a company culture centered around satisfied customers and employees |
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accountability
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functional mgmt: minimal acceptable performance standards (MAPS) vs. cross functional mgmt: team failure, not indiv
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supervision
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one supervisor for 30-40 employees vs. 1 for every 8-9
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employee selection
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w/o regard for teamwork vs. selection for teamwork
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conflict resolution
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minimal vs. proactive
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Granite Rock
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short pay policy: customers can deduct from invoice for dissatisfation
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3M co
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15% rule - bootleg time
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Nucor corporation
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low base pay but bonus of 80-200% based on productivity
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WJ Gore and Assoc
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culture of natural leadership
employee empowerment |
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3 stages
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explanatory stage
categorization stage prescriptive/normative stage |
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explanatory stage
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id which policies help to acct for successful high employee perf
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categorization stage
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id what specific set of situational circumstances and conditions make it poss
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prescriptive/normative stage
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enables consultants to advise companies whether they should adopt the new policy
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Javidan and House
Project GLOBE |
global leadership and organizational behavior effectiveness
confirms theory that cultural variances around the world would render mgmt practices successful in one setting and and ineffective in another i.e. in america 360 feedback china: hierarchical leadership is the norm |
