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Some customers appear to be loyal because they habitually buy aproduct, but this does not mean to say they are committed to aproduct or service. When a new player comes into the marketoffering a competitive product at a cheaper price, they couldeasily defect from your brand, with the result that you lose marketshare.
As pioneers in the field of brand equity, Jannie Hofmeyr and ButchRice have developed a tried-and-tested analytical tool - TheConversion Model - which enables you to segment users of a brand ina market by their commitment to staying with the brand, andnon-users by their openness to adopting the brand. The in-depthdiagnostic tools not only allow you to uncover drivers of customercommitment and openness to alternatives, they also point toactionable strategies aimed at growing your brand.
If you are a small brand, wanting to know the vulnerabilities of a'giant' in your market, an understanding of commitment will helpfind that achillles heel, and develop strategies to gain marketshare at the giant's expense.
If you are a large strong brand, and you are wondering if aspecific advertising theme is right for the future, anunderstanding of commitment will help you pinpoint what the focusof the advertising campaign should be, both in terms of tone,content and weight of the execution.
However you use the model - either by capitalizing on opportunityfrom specific competitors, or forestalling potential loss - it willhelp grow your brand's profits.
The Key to Brand Profits -
What you can expect to find in this book
Getting Started -
A basic introduction to how commitment works
A General Theory of Commitment -
How to measure commitment with just a few questions
Answers to Some Old Questions -
Clearing up confusion about loyalty and brand equity
The Impact of Commitment on How People Behave in Markets -
Proven results from over 2800 studies worldwide
Fine-tuning your Customer Relationship Management -
Profiling your customers in terms of their commitment
Case Studies: Marketing Fast-moving Consumer Goods -
Beer, carbonated beverages, household cleaning products
Working with the African National Congress -
Applying a commitment-led approach to political marketing
Some Practical Tips -
Somes dos and don'ts
The Road Ahead.....and what it holds for customers and marketers