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.
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.
Innovation, Entrepreneurship and The Digital Age
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.
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.
Geopolitics and Globalization
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.
Branding, Positioning and Segmentation
Relationship Marketing and B-to-B Sales
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.
Competitive Market Strategy
Consumer Behavior and Changing Demographics
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.