Customer value and various connotations
This ebook presents papers from the 2017 IIM Indore NAMSEI Summer Marketing conference, which supply rich insights in the domain of customer behavior across various contexts. The coverage of the chapters, spreads across brand anthropomorphism, attitude to counterfeit products, tax evasion, organizational buying, mis-selling in insurance and augmented reality applications in social marketing campaigns. The diversity of the chapters should lead to readers acquiring a holistic perspective of customer behaviors in varied contexts.
More than ever before, success of marketing largely depends upon its ability to facilitate and sustain meaningful, engaging experiences for consumers. Significant advances in technology and communications, facilitated by social media, in recent years have greatly contributed to making experience delivery to consumers easier. Customers have abandoned the traditional one-way passive reception of products and brand offerings, and now consciously look for ones where creation of value happens. Marketing's role has seen a steady jump in enabling effective user-brand interactions, putting the onus on brands for supporting product offerings with personalised marketing efforts. Shifting societal expectations demand that marketing organizations become genuinely involved with local environment in a way that simple monetary contributions alone cannot achieve end-goals. Adding altruistic value to consumer experiences of such brands becomes pertinent. Modern youth, as a growing affluent customer base is increasingly getting dissatisfied with conventional product offerings and expects experiential activities that captivate and motivate them to stick to a brand.
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