Growth is a top imperative for marketers, according to the latest CMO biannual survey conducted by Duke’s Fuqua School of Business in collaboration with Deloitte LLP and the American Marketing Association. Nearly 40% of the 323 CMO respondents to the survey put growth as their number one imperative, and another 30% of respondents put it […]
Read More… from Existing Customers and Home Markets Drive Growth
Blockchain technology is a decentralized database tracking a transaction as it moves from its source to the destination (third parties add a data ‘block’ of information to the chain with each step of the journey). Blockchain technology, which is still evolving, is used in a wide variety of applications. A recent study by a team […]
For many brand managers, the link between brand equity — the knowledge of and trust in the brand that for consumers differentiates that brand from its competitors — and brand loyalty is unquestioned. The higher your brand equity, it is assumed, the more likely you will be able to attract and keep loyal customers. Brand […]
Read More… from The Relationship of Brand Equity to Behavioural Loyalty
Bundling products and services together impacts the perceived value of the individual items in that bundle in surprising ways. Recent research from professor Ayelet Fishbach of the University of Chicago’s Booth School of Business, working in collaboration with doctoral student Franklin Shaddy, shows an asymmetry in the valuation of individual items depending on whether the […]
Read More… from Contradictory Attitudes of Consumers to Bundling
Many companies develop their relationship marketing strategies based on the assumption that their customers are unerringly cold and calculating, and driven by one question: what kind of a financial deal can you give me? While discounts, for example, can be effective, this is a short-term and hard-to-sustain relationship marketing approach to customer relationship. A team […]
The results of the study showed a 35% increase in usage by the targeted customers and a 10% increase in usage by the connections of the targeted customers. In addition, suspensions decreased for both target customers and their connections, and churn decreased for the connections (the study did not include the targets’ pre-paid churn, because the six-month process […]
Research has shown that our thoughts and emotions can be subconsciously activated or ‘primed’ by an external stimulus. In three experiments, two researchers reveal that a simple supraliminal prime — specifically, a happy face sticker on a receipt — can impact how customers evaluate the service they are receiving or have received. (The sticker is […]
Read More… from How a Happy Face Sticker Improves Perception of the Customer Service Experience
Acquiring customer data at the point of purchase, including from first-time customers, is not new. However, much of that data for first-time customers often focuses on where the customers came from (e.g., how did you hear about us?). New research by Nicolas Padilla and Eva Ascarza of Columbia Business School reveal that customer behaviour related […]
Read More… from What ‘First Impression’ Data Reveals About Customers
Any consumer who has entered a high-end luxury shop and been treated with disdain by the sales clerks will understand the meaning of ‘retail rejection’. Many luxury companies are trying to change the attitudes of their salespeople, encouraging them to be friendly and welcoming. Previous research on social rejection, however, indicates that retail rejection may […]
Read More… from Why Customers Put Up With Rude Luxury Shop Assistants
Customers make a decision about which product to buy in two ways. The first method is to search for information about the product. For example, a customer might read online reviews of restaurants or hotels. The second method is to infer information they don’t have from information they do have. Litter in a parking lot […]
