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The Sheth Leadership Academy delivers thought-provoking business insights and actionable knowledge for today’s global business leaders, academics and students.

Customer Centricity

The course focuses on the concept of customer centric marketing and what it means to be a customer centric organization. The reality is most companies tend to be product centric and to shift the focus on customer centricity, topics covered include the evolution of marketing practice, the definition and strategic advantage of customer centricity, the definition of a customer, and then ten strategies on how to integrate and organize marketing functions around the customer.

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While most companies know that they need customer centricity, few of them are able to do it successfully. This course specifically focuses on providing nine strategies on how companies need to implement customer centric culture. It goes on to address in detail the seven key challenges or hurdles companies face while implementing it and presents methodologies to overcome the hurdles effectively.

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This is a first of two segments of the course and explains the four main reasons on why companies are focusing on customers. The evolution of Marketing practice and philosophy is reviewed with its transition from Product-centric to Competition-centric to Customer-centric marketing, specifically exploring the strategic advantage of customer centric marketing. The twin requirements of becoming the customer’s choice is discussed with what product offering is matched to how customer service is delivered. However the key question and definition further described is Who is a customer and what roles s(he) plays? Performance value and Price value are alluded to in this segment.

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This is the last of two segments of the course and focuses on the tripod model of customer values – Performance, Price and Service. It is determined based on customer roles. The strategic model includes 3 value factors for Performance, 3 value factors for Price, and has 3 value factors for Service, collectively creating customer value. Each factor is then explained in depth. Also included is a score card to test your company’s capability to create customer value.

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Who is a Trusted Advisor? This course discusses what it takes for a professional services firm to move from being an expert for hire into becoming a trusted advisor to a customer. It then explains what is really needed from a professional company is both collaboration and insight in order to separate itself from a regular supplier or vendor. Provided is a strategic framework of seven differentiating variables that are necessary to show and to continue to show how a firm could provide value as a trusted advisor.

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Within the past few decades, Customer Loyalty has become a strategic mission for most companies. This lecture considers why cultivating Customer Loyalty is critical for business success and proffers steps to achieve this. Factors driving this need include rising global competition and industry restructuring, and clear advantages of achieving this goal include repeat buying and “Word of Mouth” promotion of your brand.

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This two-part series is primarily targeted at NGOs and other public organizations workings towards affecting social change in a planned manner. The importance of User-Centric Marketing in achieving this lofty goal is discussed, along with the components of, and factors driving, social change. This in-depth treatment is indispensable to anyone in the public sector looking to harness the power of Marketing. Most planned social change fails due to lack of recipient perspective, and this can be amended by User-Centric Marketing, which includes the utilization of opinion leaders, education and incentives.

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This four-part series addresses the rising phenomenon of increasingly changing and diverging customer expectations, and a framework to manage it. Part One sets the stage by addressing the issues with customer expectations, including false expectations, and the forces driving their divergence, which include changing social demographics.

Parts Two and Three begin to provide a framework to manage diverging customer expectations (which includes Accommodation, Alteration and Abandonment Marketing), while providing examples and challenges that will be experienced along the way.

Part Four concludes this series by wrapping up the framework, summarizing the ideas presented and introduced in the preceding parts and demonstrating that managing customer expectations is a prerequisite for achieving customer satisfaction.

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Leadership

This is a first of the two segments of the course focusing on answering the most insightful leadership question, Why do good companies fail? In particular, it explores what a company’s internal causes of failure are, such as status quo management, success breeds failure, high cost of structure, internal conflicts, bureaucratic governance, and regulation handcuffs, to better understand the causes. Each of these reasons areas is discussed in depth by illustrating with industry examples.

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This is the last of the two segments of the course covering the external drivers of change and further describing in detail the six factors or variables of influence namely regulation, investors, competition, technology, globalization, and customers. Models and frameworks are discussed on the ability to adapt and how to bring about. Finally, observations on culture change experiences and the formula for culture change is explained. Presenting anticipatory management as a process of transformation and as a comparison for today’s management styles of leadership to the future state.

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Why do good companies go bad? This four-part series provides an answer to this fundamental question. Part One of the series delves into the declining life expectancy of companies and identifies the seven bad habits that lead to their decline or demise. It then explains how Denial, the first bad habit, is adopted by good companies and draws on real-life case study examples to illustrate the bad habit and how companies can break it.

Part Two of the series delves into the bad habits of Arrogance, Complacency and Competitive Dependence, and draws on case studies to show how these habits is acquired by good companies and how they can be broken.

Part Three of the series continues the discussion on the bad habits of good companies and explores in-depth why companies acquire the habits of Competitive Myopia and Volume Obsession. It then uses case studies and real-life examples to illustrate how these habits come about and can harm companies. The lecture then offers strategies for overcoming these two habits.

The final part in this series begins with a discussion of the seventh bad habit of good companies, Territorial Impulse. The lecture features an in-depth discussion into how this habit is adopted by companies and its warning signs. Real world examples are drawn upon to illustrate the negative impact of the habit on companies and how they can break out of it. Strategies to prevent the adoption of the seven bad habits are then discussed. The lecture concludes with an insightful Q&A session on the topic between Dr. Sheth and John Christensen, the moderator.

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This course specifically emphasizes the three survival and the three growth strategies that companies must learn to adapt in order to survive and thrive in reality of today’s markets. Prescriptive strategies are then presented on each area of survival including periods of tough economic times and continue to explore new growth opportunities for the company to thrive.

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The course brings forth why leadership driven by passion and purpose has become necessary today. Factors that have made it essential for organizations to change their leadership style, such as multiple stakeholders, rise of social media, sustainability, and the rise of Theory U, are discussed in depth. The case is augmented by the success of Firms of Endearment, and presents seven good habits that all leaders can adopt to enjoy its many benefits.

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This course explains how companies are leading by doing. It focuses on illustrating a framework from a renowned book by Prof. Jagdish Sheth, Self Destructing Habits of Good Companies, and how there are seven bad habits that good companies develop overtime. It then explains how to break those bad habits. There are ten ways companies can break their bad habits and each of those strategies is discussed in detail.

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This course highlights the two major areas that people have to focus in order to make a great presentation, that is why you say and how you say. It then presents the five dimensions within each of these two areas that can be used as a framework to become a great presenter.

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Innovation, Entrepreneurship and The Digital Age

It presents a counterpoint to the conventional wisdom, that cultural issues keep good ideas from becoming commercially successful, by showing that the barriers to innovation are essentially structural. Topics including the factors contributing to a dramatic growth in inventions and the issues surrounding innovation resistance are discussed in detail. The course then explores the five internal sources of obstacles to innovation and offers practical and implementable strategies to overcome these barriers.

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Most companies and leaders want to innovate. Realistically, how many innovations make it to market? This course delves deep into the six main factors on Why Most innovations Fail in the marketplace and presents strategies on how to improve those factors to benefit a company’s innovation roadmap. It further draws upon on the typology of innovation resistance associated with rational and emotional barriers, while explaining the reality of innovation adoption & its resistance.

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On a regional & global scale, a fundamental shift is taking place in innovations and in economies, from expensive and high cost to affordable and acceptable performance for these innovations. In particular, this course explains in depth the four major areas that need be focused on to create affordable innovations. A specific innovation program is then discussed and the five key strategic factors to implement it successfully within a company.

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What is driving the economics of the Digital Age? This course presents the classic conundrum with examples of successes and failures, and how the fundamental shift and the forces driving it from Industrial age to Digital Age. How the economics play out, as it relates to, Agriculture, Industrial, and Digital Age, is further explained to augment the Scale and Speed concept, which is important for companies to understand to capture this newly developing market. A framework is then reviewed that illustrates eight ways to gain speed advantage in the digital age to benefit your company’s strategic mapping.

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We all live in Digital Age! This course aptly explains the evolution into Digital age and the size of Global market for all things digital. Factors and industries that have influenced the marketplace, the journey from Analog to Digital technology, and from Standalone to Integrated industries is also discussed in depth. To augment the case, The Connected Enterprise and its connection to evolution of Communication Networks is explained. An 8-point strategic framework that would shape Future of all things digital is presented to benefit companies.

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Most people confuse Entrepreneurship with Capitalism. Capitalism, however, embodies the idea of market governance through competitive market forces and price competition, while Entrepreneurship is characterized by market creation and revitalization. This lecture explores the difference between the two and establishes the universality of Entrepreneurship, while demonstrating how it is a greater force for good in society.

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We are all dazzled by the spectacular success of iconic entrepreneurs and the enterprises they have built. This lecture explores the history of successes and failures and proposes 16 laws to help guide would-be entrepreneurs on their journey, ranging from where the new idea for a product or service comes from, to how to create operational excellence, to managing cash flow.

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Entrepreneurship is considered a key instrument of policy and business in today’s world. But what is entrepreneurship? This course explores the definition of entrepreneurship and what it is and what it is not. It then reviews the many bubbles occurred through out history and presents a prescription on what it takes to create a successful company. Each of these rules are augmented by illustrating with examples of entrepreneurs who have been successful and some that haven’t.

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This three-part series provides an alternative view of the Digital Age — it focuses on the “dark side” of the digital revolution. The first part sets the stage by presenting the evolution of technology over the ages, including the Internet Age, and demonstrates the fact that advances in technology are associated with unintended, negative externalities.

The second and third parts dive right into the specific side-effects of the Digital Age, which include Digital Addiction and the Rise of the Roommate Nation. Practical advice is also offered as to how these can be remedied at the individual, organizational and national/international levels.

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This two-part series traces the Evolutionary Cycle of industries. Part one focuses on the birth of new industries, which we see happens for a variety of reasons besides new breakthroughs and innovations including exceptional Marketing and Operations. The lecture concludes with some observations on how new industries are organized.

Part two picks up where the previous part left of, and provides additional insight into Industry Organization and Growth, which can occur through expanding Market Share, Diversification and Repositioning. Finally, the enablers of Industry Revitalization, such as changing Demographics and Emerging Markets, are considered along with illustrative examples.

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Geopolitics and Globalization

This course is a first of 3 segments on Geopolitical Realignment of Markets. The focus is on the four forces driving realignment along with explaining the geopolitical economic structures and new measures of world economies. It further explores non-colonial approach to economic integration and outlines the First Round of Regional blocks (markets) of influence.

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This course is a second of 3 segments on Geopolitical Realignment of Markets. In continuation, this segment focuses in depth on the shift to the Second Round of new Regional blocks (markets) of influence and explains who is being left out and why.

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This course is the final of 3 segments. It explains in detail the four areas of impact of Realignment of Markets and the overall assimilation of culture and values in the new context. Furthermore, it discusses the reality and the eight obstacles to be encountered along the journey toward emergence of Regional markets.

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Twenty-first century is witnessing a fundamental shift towards Asia. This course is a first of 2 segments on The Rise of Chindia, articulating the paradigm shift and the forces driving this power play. It explains new measures of world economies and the many factors that are influencing the move from 20th to 21st century economics and the new power pyramids.

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This course is the last of 2 segments outlining the areas that are impacted by the fundamental pivoting to Asian century. It explains in detail six ways the shift can affect Global markets, five ways it could impact Global Resources and five ways it can impact Global Geopolitical influence.

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This lecture is a first of two parts of The Six Dimensions of Globalization. Part 1 addresses the fundamental shift in globalization, from developed to emerging economies and from closed to liberalized markets. The underlying forces driving this shift are explained in detail. It further explores the Geo-economic Realignment and the Globalization of Competition dimensions.

Part 2 explains Regulation Reforms, Capital Markets, Technology Advances, and Consumption Values dimensions of globalization. Finally, the speed of change of these dimensions, relative to each other, is also addressed in detail.

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As markets are becoming globally competitive, companies will have to adapt to new emerging realities. This course expertly outlines Globalization of Competition and Markets by explaining in depth the underlying four forces driving globalization and why companies need to embrace Global Mindset. It further explores the many benefits of Global consistency and need for Local Responsiveness along with providing the three models of Global Mindset and the framework to achieve it.

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This course explains the underlying four forces driving globalization of industries and each of the four factors is then discussed in detail. To augment the case further, Rule of Three framework is applied to nations, and automobile & airline industries. Newer and older models of global evolution of a company are explained to present seven strategies on how a company can become an integrated global enterprise.

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This lecture explores the growing necessity of, and the factors driving, the Globalization of Innovation. As we see, this is primarily due to hyper competition, corporate spin-offs, global growth opportunities and the leveraging of successful innovations. It further discusses the cultural, administrative, geopolitical and economic challenges faced in this process, and offers specific, actionable advice on how to globalize innovation, including licensing, franchising and joint ventures.

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This lecture highlights the growing international competition due to the Global Expansion of Multinational Corporations from Emerging Economies, specifically addressing the advantages and strategies employed by these companies, the two most sustainable of which are found to be Acquisitions and the “Reverse Brand Life Cycle.”

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Chinese Corporations have recently begun an international growth rampage. This lecture considers the factors driving this necessity, such as growing Domestic Competition and changing Government Policy. We also get an insight into the specific strategies that are being employed, including leveraging Diaspora Markets and China’s Soft Power.

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Changing ethnic diversity means that the diversity of desires, needs and wants has also increased. Thus, traditional products and services end up under-serving the economy and a deep understanding of the new social realities is required to adequately serve the economy with products and services that are relevant. In this lecture, Prof. Sheth explores this new reality and how nations and economies might better manage and leverage the rising diversity.

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Branding, Positioning and Segmentation

Brands create both economic and emotional value and this course particularly explains in depth the nine lives of a brand and the four ways companies can get more from their brand(s). It further delves into why brands plateau and the ten things to watch for in getting more out of your brand.

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This course focuses on the concept and the lifecycle of brand positioning. By exploring the reality of contested markets & its segments it dives into a brand’s market share and financial performance. It further explores how brands compete in the market and how & where to effectively position a company’s corporate vs. products brands.

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For a company’s competitive advantage, its products add tremendous value in creating a differential in the marketplace. This course explains how the evolution of branding of brands will add significant value in creating a differential advantage. By exploring in depth the eight ways of evolution of Branding, and seven emerging areas of Branding for differentiation, it provides a new strategic lens to organizations.

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Certain brands are admired globally but what is a world class brand? This course precisely answers that question by looking at the six dimensions of a World Class Brand, and why a company should build such brands. In detail, it explains how there are eight ways great companies approach brand building. Additionally a scoring card is included to measure where your company stands.

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This lecture offers the blueprint to building a sustainable international brand. The implications of global competition are presented along with three models for Global Branding, namely Export, “Glocal” and Transnational brands. Finally, specific advice is offered on how to achieve this goal, which includes embracing global standards and investing in branding and marketing.

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This lecture focuses on how companies use segmentation to grow revenues, to reduce costs, to add value to their products and not as a tool to compete. It then explains in detail the basis for segmentation and the three methodologies for segmenting the market namely demographics, psychographics, and buyographics.

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This lecture describes and discusses in detail differentiating strategies that companies can use to create differentiation in Product, Price, Place, Promotion, Process, People and, Purpose. It then explores each of these areas in-depth by illustrating cross-industry, multi-cultural and multi-national examples.

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Positioning is one of the key concepts in Marketing along with Differentiation and Segmentation. This lecture focuses on what Positioning creates and does for a company and provides key criteria for developing good Positioning. It further explores how Positioning could provide a competitive advantage to a company’s product or service in the marketplace.

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Managerial Marketing

4 ‘A’s of a Marketing is a framework developed by Dr. Jagdish Sheth. This is a first of two segments of the course and explores why we need a new perspective in Marketing. The four reasons the framework takes into account to augment the case are new market realities, marketing productivity crisis, marginalization of marketing, and the market perspective. This segment specifically focuses on the two distinct values (‘A’s) customers seek in the market as buyers (Accessibility) and  their knowledge (Awareness) of products & services; while defining and mapping extended definitions of the 2 ‘A’s. The advantages of 4 As framework and its application as a planning tool for new product launches as well as diagnostic tool for existing products is discussed in detail.

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4 ‘A’s of a Marketing is a framework developed by Dr. Jagdish Sheth. This is the last of two segments of the course. This segment specifically focuses on the other two distinct values (‘A’s) customers seek in the market as payers (Affordability) and as users (Acceptability) of products & services; while defining and mapping extended definitions of the 2 ‘A’s. Also explored are concepts, around how to develop markets to improve brand awareness, improve product knowledge, the advantages of 4 As framework and its many applications as a planning tool for new product launches as well as diagnostic tool for existing products is discussed in detail.

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This course not only captures the fundamental shift and the forces driving the shift in global growth, but also explores how to confront the reality of new measures of world economies. Presented are in depth analysis on the five characteristics of emerging markets, with especially Chindia shaping global markets, and the ten implications of this shift on the marketing practice.

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This course draws a comparison to analog era with customer service and explores alternate methods of customer service and selling, highlighting how much both processes have been automated, but specifically looking at the evolution of selling methods. The four forces driving selling beyond the sales force and the various factors and frameworks around sales culture, automation, integration, and account management are discussed in detail. The complexity and capabilities surrounding key account management it’s repositioning is discussed in addition to a strategic model presented with seven trends on future of selling.

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Technology is omnipresent, be it at enterprises or in households. This course focuses on the forces that are shaping future markets, especially with advances in production, distribution, commerce and consumption technologies. Since industrial revolution technology has had a major impact on Marketing and how each technology is affecting it is further discussed in depth. New Marketing Paradigm is explained and an impact framework highlighting the six areas of Marketing practice affected by Technology.

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This two-part series documents the effect of innovations in digital technology on the Marketing Mix. The transformative and disruptive aspects of innovations in digital technology are discussed along with illustrative examples from various industries. Specifically, we see that along with the Four P’s of Marketing, market research, customer feedback and customer support have also been affected. Furthermore, we find that traditional marketing is becoming peripheral while digital marketing is becoming the core strategy.

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Social Media has evolved into a truly disruptive and transformative force which has fundamentally changed the way we live. This lecture considers the impact of Social Media on Marketing and how marketers should respond to the changing landscape. We see how the power of Social Media surpasses that of the traditional “Word of Mouth Marketing.” We also see how the locus of control is passing from the marketers to the market itself.

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Since the early 90s, Sales Promotions have grown exponentially. This lecture discusses the nature of various types of promotions, the reasons for their growth, and the contexts where they are most effective. It ends with an analysis of the factors that will drive the future of Sales Promotions.

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To quote Peter Drucker, “There are only two real functions of Business: Innovation and Marketing.” Unfortunately, Marketing doesn’t get the attention and emphasis it deserves, primarily due to a stigma associated with it because of popular misconceptions. This lecture aims to set the record straight by separating “Selling” from Marketing, and presenting the characteristics of “Good Marketing” and how to achieve it. Purpose-driven companies demonstrate superior financial performance. Thus, Marketing should be purpose-driven and not market-driven, only then can it gain the respect it deserves as a force for societal good.

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What is the next paradigm for International Marketing? This course not only answers this question succinctly but also focuses on the four forces driving this fundamental shift from the old ‘Glocal’ model. It explains in depth on how to successfully implement Local, Act Global Strategy by offering a 6-point strategic framework.

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Relationship Marketing and B-to-B Sales

Is Relationship Marketing the same as Marketing applied to generate new customers? In this first of the two segments of the course, we present why they are different and to explain what is the purpose of Business. Topics included are diversity of Relationship Marketing Programs, which are illustrated with many real company examples. The key forces driving the growth of Relationship Marketing globally is discussed as well in detail. Practical & strategic frameworks are presented and an exploration of relevancy of convergence and trust as foundations in connecting with customers to support the importance of Relationship Marketing.

In the second segment of the lecture, the topics included are diversity of 12 Relationship Marketing Programs, illustrated with examples to discuss the key forces driving the growth of Relationship Marketing globally. Practical frameworks and relevancy of convergence and trust as foundations in connecting with customers is explored.

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The course outlines the importance of business markets in the broader economy. It explains the seven strategic keys in detail to better business marketing, including a shift from product-to-customer centric approach, a collaboration approach towards customers and partners, automation of customer facing functions, redesigning business marketing as supply chain management, outsourcing of non-profitable customers, inclusion of a CCO position, and a renewed focus on customer support services. Each factor is then discussed in depth.

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Rise of Relationship Marketing as a practice and perspective has been simply spectacular. What can be learnt from past experiences about it? This course focuses on ten relevant strategies to successfully implement Relationship Marketing within companies and its true alignment to a customer, which is a critical strategy however a hard one to successfully implement.

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Why customer loyalty is becoming a survival issue for many companies? This course explores deeply to understand it and how to invest in & retain customer loyalty. Four areas influencing this are intense price competition, non-traditional competition, Life time value of customers and word of mouth. These are further explained in detail with illustrative examples. Loyalty ladder model, a 5-step loyalty hierarchy similar to need hierarchy, is explored and discussed as well.

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This course explains the transformation of Marketing from traditional marketing towards Relationship marketing and the midlife crisis it is now experiencing. To further this discussion, the factors responsible for the current state are reviewed. How to revitalize this Marketing approach is addressed here along with explaining the general shift in the morphing of relationship marketing into CRM with a focus on data analytics. Furthermore, the many variables, such as cross-functional collaboration and co-creation of shared value, tied to share of wallet to share of heart and joint ventures with customers to managing customer relationships, are explored in depth to make a case for revitalization of relationship marketing.

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Marketing thought leaders lately have been advocating that marketing practice need to go beyond customer and think of all stakeholders of the company. This course explores this very debate by discussing what is stakeholder marketing and who are the eight other stakeholders in addition to customers. It explains evolution of marketing from product-customer-stakeholder-centricity and discusses the seven underlying forces driving this shift. Presented also is the FoE SPICE model & methodology (derived from the book Firms of Endearment (FoE)) with data insights on 19 publicly listed companies stacked against FoE companies. Additionally, a seven-point strategic framework is offered on how to achieve stakeholder marketing.

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Relationship-based buying is a practice that predates relationship selling, with evidence from the days of the Silk Route trade. Unsurprisingly, it is widely prevalent even today. Thus, it behooves businesses and marketers to gain a robust understanding of this phenomena to be able to leverage its advantages for themselves. In this lecture, Prof. Sheth highlights the benefits of Relationship-Based buying for the supplier (demand predictability, supply-chain efficiency, competitive barriers, etc.), why customers engage in it (cost-benefit and socio-cultural reasons), and how to sustain such buying behavior (customer education, user groups, joint ventures with customers and corporate social responsibility, amongst others).

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Competitive Market Strategy

This is a first of 3 segments of the course. It primarily focuses on understanding the current frameworks and structures that are centered around Shareholder Value and how it is delivered. Portfolio approach to Shareholder Value is then discussed in detail as a current model where performance is measured around growth vs. cash flow and describing why this approach isn’t working effectively given certain limitations.

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This is a second of 3 segments of the course and focuses on the fundamental shift in delivering the Shareholder Value from a Conglomerate Holding company to a new emphasis on Grow the Core business. Presented is an depth strategic growth options/framework for a Company’s products and the requirement of twin core competency in the core business. It further cautions on how NOT to grow the core business, while laying emphasis on a 6-point map with areas to focus for growing the core business along with product and market growth strategies.

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This is the last of 3 segments of the course and presents several diverse case studies illustrating company examples including why IBM could not diversity into office products. It also explores the three criterion framework that must be satisfied for synergistic diversification.

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For a company, it is critical to understand how the forces of competition work and the impact it could have on its products & marketplace. This course explains the five forces of Competition and that in any industry a company makes money at the extremes. It is further illustrated by a company’s market share and financial performance and the best practices associated with roles of people as Specialists and Generalists. A strategic framework, Rule of Three, is discussed in depth and to augment the case many examples are presented including scenarios where it was applied to nations, consumer product companies, and airline industry. Furthermore, several practical strategies are included on how to achieve efficiency through scale, evolution of competitive market structure, growth vs. efficiency industry, growth through scope and how to revitalize industry.

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This course focuses on several fundamental structures of product innovation and growth, specifically the product lifecycle, product cash flow, and four aspects of how to revitalize mature products. Four growth strategies, to look at a company’s existing and new markets, are then discussed in detail.

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This course explains the underlying forces driving the growth of service industries all around the world. In particular there are four forces including changing demographics, natural evolution of economy, Razor & blade principle and outsourcing of services. Each of these forces is then elaborated to determine the definition itself of service and how to create service excellence in our companies. The ten variables then are explored that create and capture the essence of customer service excellence.

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Consumer Behavior and Changing Demographics

What motivates Consumers? This course explores the different motivations for the different roles consumers play as buyers, users, and payers. Similar to Maslow’s hierarchy of needs, Hierarchy of user motivations in this context is driven by survival, social affiliation, personal identity, and societal concern. Many observations are discussed in detail on each set of motivations.

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Consumer loyalty is the focal point of this course. Why consumer loyalty matters; how it is key to a brand’s survival and growth and how it directly contributes to a company’s tangible & intangible value is evaluated in detail with examples and cases. Eleven ways consumers become loyal to brands and behavioral theories, socialization theories, and institutional theories of brand loyalty are extensively discussed and illustrated with many examples.

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In the U.S and globally, a significant percentage of overall GDP is derived from consumer markets establishing its overall importance and making a case now to better understand the consumers and not just the markets. This course outlines the primitive understanding of consumers and even now how Marketing with its research capabilities is still limited in predictive capabilities. Which leads to exploring who is a consumer and the three roles played by a consumer, buyer, user, and payer. Why role specialization(s) occur and the five reasons for the roles in consumer markets is also discussed in depth.

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What motivates consumers is an age-old question that has baffled the scholar and practitioner of Marketing alike. In this lecture, the first of a two-part series on Consumer Motivations, an integrative model of the various factors guiding buying patterns is proposed. After considering the various theories in vogue, it proposes a new model based on the idea that consumers’ buying patterns are based on their beliefs about the differential value offered by their choices.

Part two of our two-part series on Consumer Motivations illustrates the model proposed in the previous lecture with a smoking behavior study that was conducted by Dr. Jagdish Sheth. The study considers three different choice situations: whether to smoke or not; which type of cigarette to smoke; and which brand to patronize. The study demonstrated strong validity for our theory.

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Most companies aspire to become world-class marketers. Unfortunately, many of these same companies are poor customers to their suppliers. This lecture offers the vision of “Supplier Centricity” and demonstrates the value such a mindset can create for any company.

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The course highlights how climate creates fundamental culture and consumption differences. The premise is that just as our genes are climatic adaptations over thousands of years of evolution, the dramatic differences between people’s food, clothing, and shelter are also determined by climatic conditions which could influence a consumer’s choice and marketplace.

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This course is a first of the 3 segments looking at trends in marketing; specifically Aging Population. A strong case is made on how anticipating the future enables competitive marketing advantage. It further explores several external trends influencing overall marketing opportunities & challenges such as Demography, Technology, Competition, Globalization and Public Policy.

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This course is a second of the 3 segments looking at trends in marketing; focusing on three demographic trends related to Women, Diversity and Middle Class. It’s explained how shifts in an increase in women entering workforce and an inclusion of ethnic diversity are shaping the market & product demands, while a general decline of the middle class might impact overall market opportunity.

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This course is the last of the 3 segments looking at trends in marketing; with a focus on how Living Alone by Choice and Europeanization of America are creating new and unique marketing challenges & opportunities. In conclusion, several examples are provided to explain how trends could be indicators and can be leveraged in preparing a company’s overall strategy and exploring untapped growth areas.

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This lecture is on the factors driving household buying behavior. While individual consumption factors have been studied in-depth and addressed at length, this is an area which has received less than its fair share of emphasis. Prof. Sheth presents the factors driving the complexity of household consumption (changing demographics, lifestyle diversity, the rise of the roommate family and online procurement) and the types of household consumption (individual, household and household-unit). This is followed by a foray into the joint and autonomous decision making dichotomy and the factors that influence it (including perceived risk, social class and household lifecycle). Finally, conflict resolution arising from joint decision making scenarios is discussed, along with specific recommendations for marketers and businesses.

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All affluent nations are aging rapidly, and this poses problems (and opportunities) for their respective economies and businesses. This lecture discusses the impact of this phenomenon, from challenges (unsustainable healthcare and pension costs and desperate need for economic growth) to opportunities (robot-assisted living and affordability and access to products and services).

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A rising number of families are now living as roommates, with a decreasing amount of discretionary time to spend together. With the fading of the traditional family-unit and the rise of dual-income families and other related phenomena, this poses not only social issues, but also opportunities and threats for existing business and marketing practices. Prof. Sheth considers how this rising phenomenon is redefining society as we know it, from the rise of the “around the clock” culture and outsourcing household chores to friendship replacing kinship and convenience becoming a necessity.

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There has been a steady decline of the middle class in progress since the first energy crisis in the 70s, coupled with rising income disparity, with the traditional bell curve of socio-economic class becoming flatter and rectangular. This will continue to have a deep impact on society and the global economy, from a middle class revolt to the rise of entrepreneurship by sheer necessity. Business would do well to take notice of these developments, and this lecture provides a perspective lens into this phenomenon.

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Nearly 30 percent of adults live alone in the United States, with European countries presenting even larger numbers. This is a rising global trend and will significant implications for the future. In this lecture, Prof. Sheth provides an analysis of the situation and highlights the direct consequences which include the need for social programs to combat loneliness, rise of virtual communities, impulsive lifestyles and the desire to escape from reality.

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Sustainability

Consumption is as universal as breathing air, and public policy is deeply rooted in consumption. Over-consumption, however, has serious consequences for our environment and future. In the ideological debates concerning consumption, sustainability is hardly addressed. This video, the first in a series of three, sets up the conversation regarding sustainable consumption, while considering the relationship of consumption with society and the economy, and highlighting the different types of overconsumption (Acquisitive, Repetitive and Aspirational).

The second in a series of three videos considering Consumption and Sustainability, this lecture picks up where the previous one left off. Specifically, the various forces driving global over-consumption are dealt with, which include the rise of the roommate family, wants becoming needs, and the desire for convenience, amongst others. Additionally, the direct impact of overconsumption on society and the environment is concerned, along with a treatment of its effect on the individual consumer.

The third lecture, the last in the series on consumption and sustainability, focuses on solutions to promote Mindful Consumption. Prof. Sheth presents the benefits of promoting sustainable consumption for businesses (including lowering marketing costs and avoiding lawsuit settlements), as well as the need for public policy for this purpose. Finally, ten ways to promote mindful consumption are discussed, including Social Media campaigns, Shared Consumption, promoting a mindful consumption movement and developing a mindful consumption index.

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How to reverse the side effects of industrial revolution are explored in depth in this course on Nurturing Nature. Current grim realities of global warming and its implications are discussed along with a tabulation of the sources of environmental degradation. The concept of ‘back to past’ is strongly advocated in this course by addressing the four incentives (economic included) on Why nurture nature. A 3-factor strategic framework is proposed around production, consumption and policy with further discussion of their nine variables on how to nurture nature.

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In a heavily trafficked world, global economic burden of non-communicable diseases (NCD) is enormous. This course particularly focuses on the economics of this situation and addresses the ten harsh realities of NCDs in terms of human lives as well as economic opportunity loss. Specifically the demographics context is explored, such as economic strata of populace and the related physical & fiscal variables. Presented also are low cost strategies for prevention & care of NCDs and the four ways to pay for global chronic diseases.

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