This activity delves deeper into customer journey mapping and considers how to overcome the consumer’s pain points. Students look for ideas and then consider how valuable it is to reduce pain points and indeed, can we compete on that basis?
Overcoming Consumer Pain Points Review the Teaching Activity
For this task students will calculate, analyze, and assess the Net Promoter Score (NPS) metric. They will look at two firms that have adopted different approaches to improving their NPS scores – but which approach is better?
Working with the Net Promoter Score (NPS) Review the Teaching Activity
In this exercise, students will be presented with a mix of target markets and multiple target audiences for a new social initiative. It is a helpful activity for clarifying the difference between target markets and audiences. And it is very flexible, as it can be run as a case study discussion, as a marketing debate, or even a student role-play.
EXCLUSIVE ACTIVITY FOR MEMBERS
Difference Between Target Markets and Target Audiences Review the Teaching Activity
Students review a marketing campaign video for Taikang Insurance, where the firm has cleverly used technology to overcome the hurdle of service intangibility and make insurance “real”.
Overcoming Service Intangibility Review the Teaching Activity
This activity get students to complete customer lifetime value calculations, for them to understand the role of this formula. Initial examples are provided, so students can complete this task independently, if required.
Quick Customer Lifetime Value Calculations Review the Teaching Activity
In this activity, students identify the importance of process, people, and especially physical evidence in the marketing mix of a service firm.
EXCLUSIVE ACTIVITY FOR MEMBERS
The Role of the Additional 3P’s Review the Teaching Activity
The leaky bucket theory is an analogy used in customer lifetime value to highlight the need to balance new customer acquisition and customer retention. Students review what is the best approach and what impact it has on a firm.
Leaky Bucket Theory Review the Teaching Activity
An in-class activity for students to understand which products are more suited to the 4Ps (goods) or the 7Ps (services) marketing mix.
EXCLUSIVE MEMBER ACTIVITY
Do We Use the 4Ps or the 7Ps? Review the Teaching Activity
In this work conversation, each staff member has strengths in one particular area. The student task is to identify where the staff member is experienced, and then determine whether their skills are likely to enhance customer satisfaction.
EXCLUSIVE MEMBER ACTIVITY
Potential Benefits of Internal Marketing Review the Teaching Activity
Students review the viral video launch of the highly successful Dollar Shave Club and then identify their 7P’s offering and the mindset of their target market. Great activity for breaking down the full 7P’s marketing mix.
EXCLUSIVE ACTIVITY FOR MEMBERS
Marketing Mix of the Dollar Shave Club Review the Teaching Activity