Marketing the Experience
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Transcript of Marketing the Experience
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Marke&ng the Experience: Applying Product Marke&ng
Concepts to Services and Events
Dr. Juan P. Montermoso CPIM, CIRM, CSCP President, Montermoso Associates Professor of Prac:ce in Marke:ng,
Santa Clara University October 3, 2012
(c)2012 Montermoso Associates
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Presenta&on Objec&ves
• Why “Experiences” need a “next level” of marke:ng
• Iden:fica:on and illustra:on of those “next level” elements
• Integra:on of these elements for the customer and the company
(c)2012 Montermoso Associates
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The Business World of “Experiences”
It’s all about Services! (c)2012 Montermoso Associates
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Impact of Services on Global GDP
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Service PaJerns Around the World
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How do PM’s Market Services?
Customer Focus Value Proposi:on
Compe::ve Posi:oning
Product Price
Promo:on Place
Differen:a:on via
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Limita&ons of Tradi&onal 4 P’s in Services Dimension Concern
Product What actually gets delivered?
Price How do I control costs to properly set prices?
Promo:on How do I promote an intangible offering?
Place How do I ensure the right placement?
Opportunity for another level of differen3a3on
(c)2012 Montermoso Associates
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The “Next Level” Framework
Web, Social Media
Process, Physical Environment,
People
Product, Price, Promo:on, Place
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Poten&al Differen&ators: Addi&onal 3 P’s
Clear and Unique Process
AZrac:ve, Enchan:ng Physical Environment
Mo:vated and Skilled People
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Process: Imagining the Experience
Process Diagram • Flowcharts • Blueprints
Customer “Script” • Frontstage • Backstage
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An Airline Process Example
From Fare Search…
… to Feedback
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Process Benefits
• Produc&vity – Reduce Costs • Quality – Increase Revenues
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Feeling the Experience: Physical Environment
• “Serviscape” aligns with the value proposi&on • Ambiance affects feelings and aZtudes
Signs and
Symbols
Sound &
Scent
Color Warm or cool
S:mula:ng! or
Relaxing
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“Touching the heart and the mind”
AT&T Park
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Delivering the Experience: People
• Focus: Developing customer loyalty • Prepara&on – Skills – Mo&va&on – Opportunity
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People Impact: Link Employee Sa&sfac&on to
Customer Sa&sfac&on
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Crea&ng Value via “experience” • Build credibility via the web
Video: You Tube
Audio: Skype
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Social Media Factor
• The “New Word of Mouth” – TwiJer – Facebook – LinkedIn
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Using Social Media in Services
Amazon
Yelp (c)2012 Montermoso Associates
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Role of Evangelists
• Adobe vs. Apple
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One More Tool: Bundling To Capture Value
Customer Company Ease of use
Lower costs
Enhanced Offering
More Revenue
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Comple&ng the Experience
• Op&mize the service offering
(c)2012 Montermoso Associates
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Wrap-‐up: Marke&ng the Experience
• Create value by focusing on the customer experience
• Differen&ate the experience with the Addi&onal 3 P’s (process, physical environment, people)
• Leverage the experience with Web presence and social media tools
• Capture value from the experience through bundling
(c)2012 Montermoso Associates
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Closing Thoughts
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Thank You! Ques&ons?
Contact Info: Dr. Juan P. Montermoso, President, Montermoso Associates [email protected] www.montermoso.com Tel: 408-‐390-‐6475
(c)2012 Montermoso Associates