A new consumer relevancy concept that allows businesses to improve their positioning.
- 1. COOKS IncorporatedConsumer Relevancy Concept
2. Why is there a new concept? Business and consumer are talking two different languages There is a gap between consumer expectations and business delivered satisfaction of needs 3. Why is there a new concept? Business developed a bias and a myth consumer Businesses only scratch the surface of the consumer psyche Consumers created a new set of needs 4. Why is there a new concept? The currently existing concepts of consumer satisfaction tell to be the all-rounder in excellence (price, service, product, experience and access)BUT: The meaning to consumers constantly shifts, all-round excellence is not appealing anymore! 5. Consumer Relevancy What is consumer relevancy about? Focus on a few attributes instead of the entire range Emphasize context surrounding the offering as much as the content of the offering Building a meaningful and personal value set 6. Consumer Relevancy What is consumer relevancy about?Human values are the contemporary currency of commerce. Reinforcement of consumers value set 7. Consumer Relevancy Concept Consumer-centric transactions have 5 attributes: Price, product, service, access, experience Price - honest and consistent Product - good rather than top quality Service - Standardized and uniform treatment Access - clear and specific navigation Experience - respectful, enjoyable, non-entertaining 8. Consumer Relevancy Concept Step 1:Determining the companys market position in the eyes of every kew stakeholder. 9. Consumer Relevancy Concept Step 2:Defining the type of human values the company should showcase to obtain maximum competitive differentiation according to the key stakeholders. 10. Consumer Relevancy Concept Step 3:Choose one attribute your company wants to dominate. (e.g. product)Choose one attribute your company wants to differentiate on. (e.g. experience)The other three attributes remain on an average level. (e.g. price, service, access) 11. Consumer Relevancy ConceptConsumer Value AttributesAccessExperience PriceProduct ServiceProvides . . . and If a businessProvidesGenerates Provides aIs the pricing customizationcustomers dominates on this individualinspirationsolution authority of productsseek theattribute, it . . . intimacyfor customers and services businessIf a business. . . andGeneratesProvides differentiates itselfProvidesShows care for Is consistent customersreliability for education for on this attribute, conveniencethe customerin its pricingprefer thecustomers customers it . . . businessIf a business Provides for . . . and Generates operates at Shows respect Is honest in its accomodation customersProvides easecredibilityindustry 'par' on for the customer pricingfor customers' accept thewith customers this attribute, it . . . needs business 12. Consumer Relevancy ExamplesPrimary AttibutePriceServiceProductExperience AccessSaturn, Geico Target, Honda, Chuck E.Avon, E*Trade PriceStaples, Pier 1, Cheese, IKEA,Dixons Club Med PrimaryAutozone, Tesco Audi, The HomeDepot, BMW,Maytag, American Express, Four Seasons McDonald's, Progressive Corp., CirclesService and Secondary AttributeContinentalairlinessecondaryWal-Mart, Nordstrom, REI, MidwestAmway,attributes ofProductAmes, Costco,Red Roof Inns,ZaraCircuit City,Citibank,Allstate, Express, Nike Stores, The Disney Store, Walgreens, Yahoo, Land's End selected Superquinn Harrod's, Bewley'scompanies ExperienceSouthwestAirlinesSingaporeAirwaysWillams-Sonoma, Best AOL Buy Dollar General, Dell, Gateway Eddie Bauer, Milage.com,Charles Chase Bank,StarbucksAccessSchwab, VISA, Whirlpool,Carrefour Amazon.com,Lowe's 13. What changed consumer behavior? Consumers: stick to a more diverse and complex life and behavior pattern are fed up by information overload are part of a breakdown in social infrastructure. Consumer society vs. responsible society 14. COOKS IncorporatedMarketing & CommunicationT. +31 (0)78 613 30 00 Laan der Verenigde Naties 40 F. +31 (0)78 613 90 00 P.O. Box 100 E. email@example.com Dordrecht W. www.cooks-inc.com www.twitter.com/cooksreclamewww.youtube.com/cooksreclamewww.slideshare.net/cooksinc