Customers = a businessA fundamental truth is that a business only exists when it has customers, and for most businesses, the majority of their profits come from ongoing transactions with customers.Therefore, the goal of the marketer is to understand the key opportunities to maximize profitability for the firm (or the brand) over time, and often […]
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About the Customer Journey Map TemplateThis free customer journey map template is designed to quickly and easily build relatively detailed maps for multiple brand personas. Customer journey maps are an effective way of identifying how potential customers make their way to your brand and ultimately become loyal advocates.Download the free template here… customer-journey-map-Excel-templateThe template gives
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Get your free Excel tool for the multi-attribute attitude model – a helpful approach to improving brands as the model breaks down the consumer’s overall attitude into smaller, weighted components.
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“Share of Hearts” is a qualitative measure of marketing success. It differs from the more tangible metrics (such as market share, that is based on sales) and focuses on the less tangible aspects the consumers’ emotional engagement with a brand.
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Did you know that market share is made up of three underlying components? The factors are share of customer, penetration share and usage index. Find out more!
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Firms will often have the goal of increasing market share. Increased market share is primarily delivered through winning a greater proportion of the market’s business. In particular, one or more of the following situations must occur for a firm/brand to increase its market share:A greater proportion of consumers decide to purchase the brandThe brand wins
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Generation Edge, also known as Gen Z, is a demographic group that is currently coming of age and significantly impacting consumer culture. Born after the Millennials, they are the children of Gen Xers.
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Hierarchy of effectsThis is a marketing model designed to demonstrate how a consumer transitions from being unaware of a brand, to forming attitudes and understanding of that brand, to ultimately becoming an end customer.There are many versions of this hierarchy of effects model found in textbooks, but let’s start with a very basic three-step model
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Hierarchy of effects model and share of minds and share of heartsThere are numerous hierarchy of effects models that are covered in marketing literature. Probably the most common one was developed in 1961 and is a six stage model usually included in a Philip Kotler marketing textbook. The following diagram is an expansion of the
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A segment profile is a descriptive summary of the size, needs, behaviors and preferences of consumers within a particular market segment, with the goal of evaluating segment attractiveness and developing suitable marketing strategies.
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