Marketing and Brand Management.docx
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Marketing and Brand Management.docx
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MarketingandBrandManagement
Title:
ERCBA202MarketingandBrandManagement
LectureName:
Mr.JohnKoh
NameofStudents:
DinhDucBinh(0801472)
JiaWenJie(0801122)
NguyenThiHongLoan
ChenTingTing(0801228)
DueDate:
25thJanuary2010
SubmitDate:
25thJanuary2010
WordsCount:
2200
ExecutiveSummary
Starhubisthesecondbiggestinfo-communicationandentertainmentinSingapore.Inordertobuildingcustomerrelationship,Starhubhasbeendoingresearchtocapturingcustomervalue,theyhavefoundoutthebeststrategyforthemwithgoodqualityandreasonablepricewithCRM(CustomerRelationshipManagementsystem)andMarketingmixstrategy,Starhubhassucceedindeliveringsuperiorvaluetocustomersaswellasbuiltrelationshipwiththem.
TableOfContent
ExecutiveSummary............................................................2
1.0Introduction…………………………………………….4
2.0CaptureCustomers’Values…...................................….4
3.0CustomerRelationship&CRMModel.........................5
4.0ConsumerBehavior…………………………………….7
5.0Whatis“ConsumerBehavior”?
.....................................7
5.0.1Researchonconsumerasanindividual
5.0.2Researchonconsumerduringtheprocessesofmakingdecision
5.0.3Researchoncustomerundertheaffectionofcultureandsociety
6.0MarketingMixModel………………………………….9
7.0Conclusion……………………………………………...11
8.0References……………………………………………...12
1.0BriefIntroductionaboutStarHub
StarHubisatelecommunicationscompanyinSingapore.ThecompanywasfoundedinMay1998.StarHuboffersawiderangeofinformation,communicationandentertainmentservicesforbothconsumermarketandbusinessmarket.NowadaysStarHubhasbecomethesecondlargestmobilenetworkoperatorinSingapore.Sofar,StarHubhasapproximately30%marketshareintheSingaporemarketplace.Furthermore,theStarHubVisionis“TobeSingapore’sfirstchoiceforinformation,communicationsandentertainmentservices.”Missionis“Toprovideeveryperson,homeandbusinessinSingaporewithworld-classmultimediaservicesandcontent.”ThecorevaluesofStarHubareExcellence,Creativity,Integrity,andTeamwork.(StarHub,2010)
2.0HowtoSuccessfullyCaptureCustomers’Values
Customervalueisadifferencebetweenwhatacustomergetsfromaproductandwhatheorshehastopayinordertogetit.(BusinessDictionary,2010)Nowadays,consumersalwaysconsiderabout“valueformoney”.Thatis,customerswillonlypaythecertainmoneythathasthesamevaluewiththeproducttheybuy.Henceacompanyshouldprovideextravaluesinordertocapturemorevaluesfromcustomers.
AsforStarHub,ontheonehand,thecompanyoffersanumberofproductsandservices.Indetail,StarHuboperatesmobileservice,cableTV,broadbandandwireless,telephoneserviceandfixednetworkservices,etcandsomeentertainmentsuchasStarHubgame,musicandvideo.What’smore,italsoprovidesStarHubgreenprepaidcardsformobilephoneusers.StarHubisaimedtoprovideagoodserviceexperiencetoallthecustomers.Ontheotherhand,thedifferentiatedfeatureforStarHubis“Hubbing”,whichisanintegratedservicepackthatincludesfewcomponentservices.StarHubhassetHubbingservicepackataquitevaluableandattractivepriceandismuchcheaperthanpurchaseeachseparately.Forexample,ifacustomerchoosesahomehubbingpack,whichincludeswirelessservice,cableTVandhomebroadband,foreachservicehecanenjoy30%,10%and5%discount.(StarHub,2010)Owingtogoodqualityandlowerprice,StarHubissuccessfullydeliveringsuperiorvaluestocustomersandcapturevaluesfromcustomersinreturn,aswellasbuildingstrongrelationshipwithitsloyaltycustomers.
3.0HowtobuildCustomerRelationship&CRMModel
AsthesecondlargestmobileoperatorinSingapore,StarHubcandeveloprapidlyjustwithinseveralyears,itmaybecausetheydowellininfo-communicationpart.
Butasacommunicationcompany,StarHubdoesnotsowellincustomers’service.Althoughtheysaidonthewebsite,"StarHubCustomerServiceistheeyes,earsandheartbeatoftheorganization.Wehaveapassionforlisteningandadesiretoprovidewhatourcustomerswant.OurroleistoevokeanemotionalattachmenttotheStarHubbrand".
Butactually,therearemanyproblems.Manycustomerscomplainthattheirserviceisworse.WhencustomerscallStarHubCustomerServiceline,theauto-answeringalwayskeepthemwaitingandwaiting,onlytheboringmusicisthereforthem.Althoughcustomershavecalledseveraltimes,theresultsarestillthesame.Ifsomeoneissolucky,theymaygetthrough.Andwhentheytellthemwhatthematteris,theyalwaysrespondthattheywillhandletheprobleminwhateverdays.Buteventhedaypassby,theystilldonothing.Whencustomerscallback,theymaystillwaitingandwaiting.Itsucks.
"Weworktowardsdeliveringconsistent,intentional,differentiatedandvaluableservicetoourcustomersacrossalltouchpoint-overthephone,on-siteandintheservicecentres."
Ifthingscontinuethisway,thesituationmaybecomebiggerandworseanditmaycauseStarHubtolosecustomersandsomemoreeventhoughtheymaybegoodinsomeways.Nocompanylikethislosebecomesbigger.Sonow,theimportantthingistofollowupcustomersandbuildgoodcustomerrelationship.
SoherecomesCRM,whichisshortforCustomerRelationshipManagement.
CRMisacontinuousprocessofcommunicatingwithcustomers,knowingcustomers'needsandwants,improvingandincreasingproductsandservicestomeetcustomers'demands.Weallknowthatallenterprisesshouldusecustomer-centricmanagement.SoCRMhelpscompanyfocusoncommunicatingwithcustomersinsteadofproductsormarket.
CRMModel
Firstofall,companyshouldacquirecustomers.Itistheprocessofattractingcustomersforthefirsttimeandmaketheirfirstpurchase.Thenyouhaveacquiredcustomers.Butyoucannotjuststayinthislevel.Youshouldacquisitionmorecustomersthroughmarketingorientation,innovativeITandvaluecreationwithidentifyandqualitypotentialcustomers.
Secondly,companyshouldretainthosecustomersratherthanhavethemusecompetitors'productsorservices.Socompanyshouldgivingcustomerswhattheyexpectandwant.Keepfollowupwithcustomersthatyouhaveacquired.StarHubmaydowellinthisstep.Fromanalyzingcustomers'mobilephones,televisionortheusageoftheInternetaccounts,theycanknowthedifferentneedsofthecustomerindifferentplaces;sucklikeathome,onthewayoratwork.
Atlast,itshouldbecustomerextension.Whenyouhaveacquiredcustomersandretainthem,youshouldkeepthemalwayswithyou.Andoncetheybecomeloyalcustomers,companycangetlong-termprofit.Companyshouldattherighttimeandrightplace,offerrightservicesorproductstotherightcustomers.
4.0ConsumerBehavior
Everycustomerhashisorherownneeds,wantsanddifferentbehaviors.Theimportantthingis“howtopersuadethembuyingyourgoods”.Thisisbasedonhowmuchyouunderstandyourcustomers,givingsuitablesuggestions,thenyoucanmakesaleeasier.
5.0Whatis“ConsumerBehavior”?
ConsumerBehavior–isoneoftheveryimportantkeysinnewmarketing.Intheory,whenitcomestoconsumerbehaviorisreferredto"aprocesswhereanindividualorgroupselection,purchase,useanddisposeofaproductorserviceistosatisfytheneedsandtheirdesires"(MichaelSolomon).Finally,researchingaboutconsumerbehaviorisinordertoansweringthosequestionslike:
Howtochoose,buy,andusingtheproducts?
Whichfactorswillbeconcernedtothatusage?
Wheneverwecouldanswerthosequestionsaboutourproductsbyputtingourselvesinconsumer’ssituations,whichmeanswecanprobablyseehowconsumersthinkaboutus.
5.0.1Researchonconsumerasanindividual
Firstly,wewillstudythestagesofconsumeraswellasawareness,learnandmemory,motivation,attitudeandtheself.Researchingthosecanhelpustoexplainsomeproblemsrelatedtosensesusingbypeopletorealize.Hence,wecanusecolor,tasteandevensoundsuitably.WhenyoubuyingphonesfromStarhub,theymightgiftyouspareparts,accessory,orguaranty,etc
5.0.2Researchonconsumerduringtheprocessesofmakingdecision
Theconsumer,whowasmentionedwithrealization,learn,memory,motivation,attitudeandself-esteem,willapproachthemarketanddecidewhetherbuyornotthatproduct.Thisisaprocesswithmanystagesincludeddemand,lookingforproducts,estimatingchoices,picking,feedbackafterusing,andalsoassessing.Ineachstage,ourbusinesseshavetheresponsibilitiestoencouragedemand,provideinformationandalsoconvincethecustomer.Massmediaisveryimportantintheearlystageofthedemandofinformation.Inthenextstepwhencustomerstartchoosingproducts,companiesmustfocusmoreonanalyzingstrength,advantageandeffect.ThereisaquestionthatwhatshouldIdoifmyproductwasnotqualifiedanddifferentenough?
Inthatsituation,theonlyadvantageislowingtheprice.
Similartopersonalfactorsabove,peoplewillcometostores,supermarketstospendtheirmoney.Hence,wecanstudysomeoutsidefeatureseffectingtotheirhabitant.Alldisplay,atmosphere,color,soundandlightalsoarethereasonsforcustomerstobuyornot.Toimpulsebuying,supermarketsalwaysshowchewinggum,cigaretteonsmallselvesnearthechecks.Whilewaitingforbills,somecustomerscanbuysomethingfromthere.
Whendecidingwhattobuy,howmany,whichbrand,when…thecustomeralwaysisunderpressureoffamily,neighborhoodandfriendsorsomeopinionleaderssuchasadviser,idolormembersinsomecommunities.Recently,manyforumshavethefa
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