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Chapter_21 - C HAPTER 1 Reflect.com Creating Customized...

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Unformatted text preview: C HAPTER HAPTER 21 21 1. Reflect.com: Creating Customized Cosmetics a. Only online marketer that permits women to create own cosmetics, give them personalized names 2. Creating Customer Value, Relationships, and Experiences in Marketspace a. Traditional Marketplace – buyers and sellers engage in face-to-face exchange relationships in material environment characterized by physical facilities and mostly tangible objects b. Marketspace – Internet-enabled digital environment characterized by face-to-screen exchange relationships and electronic images and offerings c. Many consumers browse and buy in both market environments d. Companies with origin in traditional marketplace challenged to define nature and scope of marketspace presence i. Refine role of Internet technology in attracting, retaining, and building consumer relationships to improve competitive positions in traditional marketplace while achieving marketspace position e. Companies with marketspace origins challenged to continually refine, broaden, and deepen marketspace presence and consider what role traditional marketplace will play in future f. Company’s success in achieving meaningful marketspace presence relies on designing and executing market program that capitalizes on unique customer value-creation capabilities of human technology g. Customer Value Creation in Marketspace i. Electronic commerce in marketspace small compared to traditional marketplace ii. Possibilities for customer value creation greater in marketspace than in traditional marketplace iii. Provision of any direct, on-demand information possible from marketers anywhere to customers anywhere at any time iv. Operating hours and geographical constraints do not exist in marketspace v. Great marketspace opportunity for marketers lies in its potential for creating for utility vi. Interactive 2-way Internet-enabled communication capabilities invite consumers to tell marketers their specific requirements 1. Customization of product or service fits buyer’s exact needs possible h. Interactivity, Individuality, and Customer Relationships in Marketspace i. Interactivity and Individuality important building blocks for buyer-seller relationships ii. Companies need to interact with customers by listening and responding to needs iii. Marketers need to treat customers as individuals and empower them to: 1. Influence timing and extent of buyer-seller interaction 2. Have say in kind of products/services they buy, information they receive, and prices they pay iv. Interactive Marketing – 2-way buyer-seller electronic communication in computer-mediated environment in which buyer controls kind and amount of information received from seller 1. Sophisticated choiceboard and personalization systems that transform information supplied by customers into customized responses to their individual needs v. Choiceboards 1. Marketer-initiated effort 2. Interactive, Internet-enabled system that allows individual customers to design own products and services by answering questions and choosing from menu of product or...
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Chapter_21 - C HAPTER 1 Reflect.com Creating Customized...

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