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23 Cards in this Set
- Front
- Back
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What is the Direct Marketer's Role?
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Target the most valuable and/or loyal customers
Create loyalty through price, product and value Maximize revenue -- maximize that value by knowing the cusotmers Measure Customer retention Leverage effect of loyalty |
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What are the reasons for direct marketing?
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Low Aquisition Costs
Existing Customers might pay more Existing customers might buy more Referrals (which help lower the acquisition cost) |
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What are some of the reasons that brand loyalty mean something diffirent to different consumers?
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Diffirent brands represent diffirent needs
Deal switching is favourable to gain discounts Time and convenience is seen as more valuable than loyalty |
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What are the diffirent target markets for DM'ers?
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Existing customers
Potential Customers Aquisition targeting options |
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What are the diffirent types of segmnetation you can do by loyalty?
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programmed buyers
relationship buyers transactional buyers bargain hunters |
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What is a programmed buyer?
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Less price sensitive, routine purchases
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What is a relationship buyer?
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a knowledgeable buyer who sees partnerships
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What is a transactional buyer
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larger customer, knowledgeable, looks to balance of price and service
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How should you target your exiting customers?
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Identify customers who are most valuable, most loyal, who have potential for revenue growth and might respond in the future
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What are the classifications of potential customers?
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Recently Lapsed
Former Enquirers Referrals Profiled prospects Responders to advertisments Suspects |
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Who are the potential customers?
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Recently Lapsed
Former Enquirers Referrals Profiled Prospects Responders to advertisments Suspects |
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What are the acquisition targeting options?
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Based on previous contact
Based on profiles of existing customers Most loyal customers Affinity Marketing Supsects |
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List the hierarchy of aquistion targeting options
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Recently Lapsed
Former customers Enquirers Referrals Profiled Prospects Handraisers Suspects |
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what are the DM Strategies to deliver total product value?
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Delivering Service, Communications, pricing and the product
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How can a marketer effectively deliver total product value thorugh service?
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Demonstrate convenience and reassurance, including after the sale, and tailor to frequent customer needs
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How can a marketer effectively deliver total product value through communicaitons?
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Learning from customers, and permission marketing
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How does a marketer deliver total product value through pricing?
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Rewards
Discounts Loyalty programs |
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How does a marketer deliver total product value through loyalty programs?
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Diffirentiate
reinforce the brand extra value outside the program gather transaction data |
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How does a marketer deliver total product value through the product?
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convenience throug hdirect distribution and branding
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How does a marketer deliver total product value through branding?
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recoginition (the time shortened)
Assurance Communicate functional values Communicate symbolic values |
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What does incentive do for Total Product Value?
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Incentive stimulates trial
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How do you use dialogue to ensure loyalty as a component of retention strategy?
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Followup
Magazines Clubs (High involvement, statues and value association with other members) |
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What are some loyalty technqiues?
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Cards
Proof of Purchase Co-branded cards |
