By Yoram (Jerry) Wind, Vijay Mahajan
Ultra-modern client is a centaur: a brand new hybrid who is learning the newest applied sciences, yet remains to be pushed through age-old human wishes and motivations. "Cyberconsumer" enterprise types missed human truth: that is why they failed. yet "back-to-basics" ignores the deep alterations the net has wrought. The genie's out of the bottle: your shoppers have profoundly new expectancies -- and you have got strong new instruments for offering on them. Convergence business plan illuminates the "centaur," displaying what latest shoppers can do, what they are settling on to do, how they're evolving, and the place they're headed. Jerry Wind and Vijay Mahajan establish "5Cs" on the middle of the recent purchaser dating: customerization, neighborhood, channels, aggressive worth propositions, and selection instruments. you will discover thoughts and strategies for responding without delay -- and a whole framework for refocusing methods, constitution, humans, incentives, and know-how to serve the centaur the next day to come.
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Additional info for Convergence Marketing: Strategies for Reaching the New Hybrid Consumer
People don’t select contacts the way they pick up oranges. They don’t buy them for gifts or need to research them extensively before making the decision to purchase. More than 60 percent of sales were repeat and replacement purchases, which lowers the amount of information and emotional involvement. The product also was not a “new-to-the-world” product nor was it customized, but rather something that was 22 THE CENTAUR AWAKENS Chapter 1 tried and true. com. 8 Convergence Marketing As 1-800-CONTACTS found, there can be tremendous opportunity in creatively developing a new set of strategies to meet the centaur across multiple channels.
She will sometimes accept the marketing messages of companies and sometimes seek out third-party information. Why? We selected these five areas—customerization, community, channel options, competitive value, and choice tools—because they represent important intersections between the potential of the new technology and the enduring patterns of human behavior. How consumers and technology interact in these areas has implications for marketing and business strategy. For each of these “5 Cs,” there is a convergence between the traditional behaviors of consumers and new behaviors.
To meet the new realities of this converging consumer, companies need to create convergence of their own marketing approaches, joining old and new, online and offline. They need to create new strategies for customerization, communities, channels, delivering competitive value and offering decision tools. In the process, they will reinvent their companies and the marketing discipline, leading 24 THE CENTAUR AWAKENS Chapter 1 to the convergence of diverse functions within the organization and a drawing together of internal and external stakeholders.
Convergence Marketing: Strategies for Reaching the New Hybrid Consumer by Yoram (Jerry) Wind, Vijay Mahajan