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cornelldifferentiation

cornelldifferentiation - The Challenges of Resonance...

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1 The Challenges of Resonance Marketing: Creating Profits through Differentiation and Delight Eric K. Clemons [email protected] The Wharton School 19 April 2006 Eric K. Clemons © April 2006
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2 Oh great, they spat it in the sink! Extreme differentiation requires an entirely new mindset Don’t focus on getting most guys to like you, but but on getting some guys to love you Having customers like you and hate you entirely is equivalent to your sales, since neither will pay a premium price for your beer Victory Beer, Lager and Hop Devil Hop Devil is most hated, and 53% of sales
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3 Structure of the Talk Unrewarded Excellence — Customers abandoning traditional mass market fat spots New Brand Positioning — Trading up, trading down, trading out Customers finding new highly specialized, highly profitable sweet spots Consumers can’t be wrong But consumers haven’t changed What’s the driver of market change? — Customer Informedness Strategic Implications — How to respond?
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4 Unrewarded Excellence Companies make better products, in more varieties, at lower cost, with higher quality by any measures Profits have stalled Customers are abandoning them for power bars, non- carbonated beverages, super-premium ice cream, craft beers, and bagged coffee Or customers are abandoning them for Jet Blue — “Please remove your trash when exiting the plane” The competition discount , now known to be larger! The compromise discount , increased by informedness The uncertainty discount , ended by informedness
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5 Unrewarded Excellence Increasingly complex customer behavior Customers take the cheapest possible flights, then stay at the Four Seasons on Hawaii Customers book the cheapest adequate hotel, but play golf at the best courses and book the best restaurants Customers find the lowest prices for things that don’t matter to them, but find the best available offerings for them , for things they care about
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6 The New Brand Positioning HyperDifferentiation Resonance Marketing It’s not about being
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