Disruptors
They showed us how to be customer obsessed.
Who is Amazon?
Businesses that sell products directly to end consumers for personal use
Who are retailers?
Adjusting prices in real time based on demand, supply, market conditions, or customer profiles
What is dynamic pricing?
Using people to develop relationships with target audiences to sell products and services
What is personal selling?
The statement that communicates the one thing that makes your business better than the competition
What is your USP?
"Managing Brand Equity" author
Who is David Aakar?
They were the first to send shaving razors to our doors?
Who is Dollar Shave Club?
Retailers, wholesalers, agents, and distributors
Who are intermediaries?
Sets a high initial price for a new product or service to target early adopters or customers willing to pay a premium
What is price skimming?
Any paid form of presenting ideas, goods, or services by an identified sponsor
Creating a mental image of the product offering and its differentiating features in the minds of the target market
What is positioning?
"Father of Modern Marketing"
Philip Kotler
They changed the landscape of television and film consumption.
Who is Netflix?
Intermediaries who facilitate transactions between buyers and sellers but do not take ownership of the products
Who are agents?
Setting prices in line with or slightly below competitors' prices to attract price-conscious customers.
What is competitive pricing?
This method aims to sell products or services directly to consumers rather than through retailers.
What is direct marketing?
A semi-fictional representation of your best potential buyer
What is a buyer persona?
The "Father of Advertising"
David Ogilvy
They crafted their offerings to allow customers to co-create value.
Who is Uber?
Using a combination of distribution channels to reach a broader audience or to serve different market segments
What is an omnichannel strategy?
Pricing products at $9.99 instead of $10, which may make it seem more affordable
What is psychological pricing?
A newer category of marketing communication involves unconventional, innovative, and usually low-cost marketing tactics to engage consumers and generate attention.
What is Guerrilla marketing?
Organizations that provide similar products or services or that target the same audience of consumers.
Who are competitors?
"This is Marketing" author
Who is Seth Godin?
They gave us a "third place."
Who is Starbucks?
A network of interconnected organizations, people, activities, and resources involved in the creation and distribution of goods and services
What is a supply chain?
Setting prices based on the cost of production
What is cost-based pricing?
Creating goodwill between an organization and the "public"
What are public relations?
A spatially representation of customers’ perceptions and preferences, helping us position our products relative to competitor’s products.
What is a perceptual map?
"Positioning: The Battle for Your Mind" authors
Who are Al Ries and Jack Trout?