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The fact that the Apple iPhone X’s pricing has crossed the four-digit mar, should not be seen as a major surprise or anything out of the usual. A look back at one of the all-time leading rock bands Eagles’ reunion concert in 1994 can be cited as an example of how pricing thresholds can be crossed when the end-product is truly worth it. The said concert was priced in the three-digit mark, well above industry averages. Apple CEO Tim Cook has unabashedly declared through this pricing that the product is top notch. The initial hype justifies the pricing however, over time, the sales will increase only once the product reviews match the publicity. The Eagles’ then strategy worked handsomely, as the concert was a huge success and a prelude to their new album release the next year which broke all previous records. Only time will tell if Apple’s corporate strategy works nearly as well.

Source:https://hbr.org/2017/09/the-psychology-behind-the-new-iphones-four-digit-price

Uploaded Date : 06 October 2017

Some of the most successful organizations in recent times such as Apple, Amazon and Zappos are ones who have made sure that the customer service they provide aligns with the marketing strategy in the longer run. For this some tips have been provided by marketers to ensure the same. One such tip is to acknowledge that customers are ready to pay more provided the service received is top-notch. Another is that customers must be supported throughout and at every stage of the customer lifecycle. Testimonials received from customers must be leveraged via social media serving as key source for digital marketing. After each customer service experience, due follow-up is necessary. Any crisis in PR can escalate due to the presence of social media, so it must be nipped at the bud itself. A unified view of the customer must be created. This can be done by crunching copious amounts of data now available to form coherent business intelligence.

Source:https://www.forbes.com/sites/forbesagencycouncil/2017/08/02/six-ways-to-deliver-customer-service-that-aligns-with-your-long-term-marketing-strategy/#450f9601de42

Uploaded Date:16 August 2017

 

Amazon had earlier this year courted some of the leading Consumer Packaged Goods (CPG) brands for a tie-up that would effectively alter the existing relationship between retailers and manufacturers. On the one hand such CPG firms are looking to expand the Direct to Customer (D2C) model, but they are wary of upsetting traditional distribution channels. Thus seven methods have been identified to bridge this gap. First of all before embarking on a digital marketing strategy, it is essential to understand, how different consumer segments are to be serviced. For this the right digital channel needs to be used just as Longchamp does with We Chat for China while Whirlpool uses several different ones for separate products. A method must be used which enhances the value provided to consumers. Unique measures must be identified that matter to the consumers. An example of this is Proctor and Gamble’s use of business analytics across their D2C channels. Newer technologies must be embraced and not feared as a disruptor as long as they add value. Online conversions also depend a lot on user engagement. Thus digital conversations must keep going. A method must be devised by which third party retailers can also be included in the channel just as Nike leveraged the huge reach of Amazon and Instagram.

Source:https://hbr.org/2017/08/how-consumer-brands-can-connect-with-customers-in-a-changing-retail-landscape?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+harvardbusiness+%28HBR.org%29

Uploaded Date:16 August 2017

 

 

Customer service examples that elicit a “wow” do not necessarily take place at five-star hotels, but can happen at any level. Yet. It at the five-star level too, some such examples exist. One such is at Little Washington’s The Inn. Here a situation occurred where an elderly couple checked in for a three-night stay but had forgotten their money. A customer service executive unsolicited ventured to drive all the way to Pittsburgh and got the amount post an eight-hour drive. At the Five-Star Montage Palmetto Bluff Resort in South Carolina, a house attendant on seeing the youngest in the family struggle to get a better experience not only arranged for resolving that but even brought the trainer along. This enabled the entire family’s vacation experience to be enhanced by many times. Two other such business innovations on the customer service side took place at the Dove Mountain Resort in Arizona. The final one to cover happened at the Four Seasons Hotel in Austin in Texas. As a playful joke, a tourist once asked the customer service executive that she wanted a pony. Immediately the response was received with a brochure containing all areas within a radius of twenty-five miles where horses could be procured from.

Source:https://www.forbes.com/sites/micahsolomon/2017/07/29/5-wow-customer-service-stories-from-5-star-hotels-examples-any-business-can-learn-from/#658000d733e6

Uploaded Date:31 July 2017

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