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Presentation by Dr. Juan P. Montermoso at SVPMA Monthly Event October 2012 Go to link below for notes from this event: http://svpma.org/2012/10/october-2012-event/
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Marke&ng the Experience: Applying Product Marke&ng
Concepts to Services and Events
Dr. Juan P. Montermoso CPIM, CIRM, CSCP President, Montermoso Associates Professor of Prac:ce in Marke:ng,
Santa Clara University October 3, 2012
(c)2012 Montermoso Associates
Presenta&on Objec&ves
• Why “Experiences” need a “next level” of marke:ng
• Iden:fica:on and illustra:on of those “next level” elements
• Integra:on of these elements for the customer and the company
(c)2012 Montermoso Associates
The Business World of “Experiences”
It’s all about Services! (c)2012 Montermoso Associates
Impact of Services on Global GDP
(c)2012 Montermoso Associates
Service PaJerns Around the World
(c)2012 Montermoso Associates
How do PM’s Market Services?
Customer Focus Value Proposi:on
Compe::ve Posi:oning
Product Price
Promo:on Place
Differen:a:on via
(c)2012 Montermoso Associates
Limita&ons of Tradi&onal 4 P’s in Services Dimension Concern
Product What actually gets delivered?
Price How do I control costs to properly set prices?
Promo:on How do I promote an intangible offering?
Place How do I ensure the right placement?
Opportunity for another level of differen3a3on
(c)2012 Montermoso Associates
The “Next Level” Framework
Web, Social Media
Process, Physical Environment,
People
Product, Price, Promo:on, Place
(c)2012 Montermoso Associates
Poten&al Differen&ators: Addi&onal 3 P’s
Clear and Unique Process
AZrac:ve, Enchan:ng Physical Environment
Mo:vated and Skilled People
(c)2012 Montermoso Associates
Process: Imagining the Experience
Process Diagram • Flowcharts • Blueprints
Customer “Script” • Frontstage • Backstage
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An Airline Process Example
From Fare Search…
… to Feedback
(c)2012 Montermoso Associates
Process Benefits
• Produc&vity – Reduce Costs • Quality – Increase Revenues
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Feeling the Experience: Physical Environment
• “Serviscape” aligns with the value proposi&on • Ambiance affects feelings and aZtudes
Signs and
Symbols
Sound &
Scent
Color Warm or cool
S:mula:ng! or
Relaxing
(c)2012 Montermoso Associates
“Touching the heart and the mind”
AT&T Park
(c)2012 Montermoso Associates
Delivering the Experience: People
• Focus: Developing customer loyalty • Prepara&on – Skills – Mo&va&on – Opportunity
(c)2012 Montermoso Associates
People Impact: Link Employee Sa&sfac&on to
Customer Sa&sfac&on
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Crea&ng Value via “experience” • Build credibility via the web
Video: You Tube
Audio: Skype
(c)2012 Montermoso Associates
Social Media Factor
• The “New Word of Mouth” – TwiJer – Facebook – LinkedIn
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Using Social Media in Services
Amazon
Yelp (c)2012 Montermoso Associates
Role of Evangelists
• Adobe vs. Apple
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One More Tool: Bundling To Capture Value
Customer Company Ease of use
Lower costs
Enhanced Offering
More Revenue
(c)2012 Montermoso Associates
Comple&ng the Experience
• Op&mize the service offering
(c)2012 Montermoso Associates
Wrap-‐up: Marke&ng the Experience
• Create value by focusing on the customer experience
• Differen&ate the experience with the Addi&onal 3 P’s (process, physical environment, people)
• Leverage the experience with Web presence and social media tools
• Capture value from the experience through bundling
(c)2012 Montermoso Associates
Closing Thoughts
(c)2012 Montermoso Associates
Thank You! Ques&ons?
Contact Info: Dr. Juan P. Montermoso, President, Montermoso Associates jpm@montermoso.com www.montermoso.com Tel: 408-‐390-‐6475
(c)2012 Montermoso Associates
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