Things you must do to be successful(4)
Package/market yourself, sell yourself, networking, maintain contacts
Traits need to be successful (5)
creativity, agressive, enthusiastic, intelligence, honesty
Things companies look for (4)
interpersonal communication skills, teamwork, honesty, core competency
Likability
55% visual, 38% vocal (tone most important), 7% verbal agreement
Credibility
Trust/Honesty/Sincerity, knowledge, identification, position/status, charisma
Killer B's
boredom and bitterness (under vocal delivery)
Three key Marketing Concepts
customer value, customer satisfaction, maintaining long-term relationships
Word of Mouth percents
77% with bad experience tell at least one person leads to story telling (exaggeration). 7% with a bad experience tell the service provider
Benefits of Customer Satisfaction (4)
referrals, increase usage, reduce sell time, premium pricing
Dissatisfied Customers (2)
Angry, Remorseful(complain to others)
Service Profit Chain (drives good customer satisfaction) (5)
Employee job satisfaction>Customer value>customer satisfaction>customer loyalty>profits>employee job satisfaction
Winning equation
P1(personality) + P2 (performance) *visibility
Measuring Employee Job Satisfaction (6)
money, promotion, coworkers, supervisors, customers, company
Conducting Research to Evaluate Customer Satisfaction
Prospect Theory (remember outrageously bad things), Mystery Shopper (undercover shopper--Sheraton Hotel example w/lost tie and 25 page survey)
Key to Service Failure
Recovery...Delta Airline example with retraining employees (walk-ons restaurant example)
Strength Long-Term Relationships (4)
Responsive(respond to needs timely), Reliable(dependable, consistent), Empathy(understand client--big picture), Assurance(safety net)
7 Reasons Customer's switch to competition
Core Service Failure(not what expect)
Service Encounter Failure(employees attitude is main focus)
Price(too expensive--price prestige, much higher=price gouging, deceptive price=surface isn't really price (internet))
Inconvenience(not best location)
Failu
***Marketing Strategy Framework (3)
Market Analysis, Strategy Development, Implementation
Market Analysis(3)
company (who, what, where, how)
customers (who, identifiable, adaptive to behaviors..use descriptors and demographics)
conditions(things that change--react/feedback...social, economic, competition, technological, legal/political factors)
Strategy Development (3)
segmentation(identification, responsive, accessible{2 ways distribution and advertisement access}, substantial size)
target(mass market/undifferentiated, multi-segmented, niche marketing
positioning(attributes{special}, benefits{stand out}, communication
Implementation (2)
Marketing Mix(mix everything together to sell product)(product/service, price, place distribution,promotion, people)
Retail Mix(everything above plus presentation--the physical setting)
Product Life Cycles (5)
Intro, Growth, Maturity, Decline Extension
Components of a Product(4)
packaging(unclutters decision), warranty(fair trade act), service(loyal), brand(Nike image=indentification) (repeat sales, introduce new products)
3 strategies to Rebrand
position(unsafe/unclean)
affiliation(who uses same products in same location as you)
personality(unknown "face" of company/voice on all state commercial)
Motel 6 . Target-quality clothing. McDonalds-healthy foods
Consumer Decisions Making Process (CDMP) (5)
Need Recognition(Maslow's hierarchy of needs--right triangle)
Information Search(external: personal info:family/friends{opinion leaders, celebrity endorsement...change perception/boost sales, word of mouth...sneezing(hollywood)/buzz marketing(putting into
Marketing/Management Philosophies
Production Orientation(inward evaluation)
Sales Orientation(skilled sales force)
Marketing Orientation(focus--satisfy the customers)
Social Orientation(ever evolving, keep society safe too--Green movement)