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Photo by Dogancan Ozturan (Source: Unsplash)

How CRM Reaches Customers' Social Networks

Idea posted: June 2017
  • Marketing

Marketers may be underestimating the impact of their marketing campaigns, which, a new study shows, impacts not only the target customers, but also the social connections of those customers.

 

Idea #660
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Why Customers Put Up With Rude Luxury Shop Assistants

Idea posted: December 2016
  • Marketing

Surprisingly, retail rejection (customers greeted with unfriendly sales staff in luxury stores, for example) can increase brand image in the eyes of ‘rejected’ consumers, thus increasing sales in the short term. In the long term, however, consumers will resent the rejection, and the brand pays the price.

Idea #640
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Alexander Graham Bell at the opening of the long-distance line from New York to Chicago, 1892 (Courtesy: Library of Congress)

Incentivizing Older Consumers to Adopt New Technologies

Idea posted: March 2015
  • Marketing

Companies traditionally ignore older consumers when marketing new technologies and innovations. While the non-monetary adoption costs to older consumers are high as previous research suggests, a new mathematical model — that looks at consumers over their entire lifecycle — reveals that monetary costs to older consumers actually decrease with age. 

Idea #502
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Replica of Rushworh's music store in Liverpool, where the Beatles bought their first Gibson guitars (Source: Wikipedia Commons)

When Showrooms Help Online Companies

Idea posted: August 2014
  • Marketing
  • Operations

Nearly every bricks-and-mortar company will have an online presence today. But a few intrepid companies are going in the opposite direction: online companies are starting to open offline showrooms — and research shows the result is a boost in sales… and happy customers.

Idea #434
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Genius Bar at the Apple Store, Prince Street, SoHo, Manhattan, New York City, 2003 (Source: Wikimedia Commons)

Servitization: Implications for Sales and Marketing

Idea posted: January 2014
  • Marketing

In a business world where competition is higher than ever before, it has become increasingly difficult for firms to differentiate solely on products. That is why many firms have begun focusing on services too. This Idea looks at this trend, referred to here as ‘servitization’ and considers how you can ensure the shift to such sales is a successful one for your organization.

Idea #293
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The Effect of Pruning Sales Channels

Idea posted: November 2013
  • Marketing

A firm that eliminates a search or purchase channel, such as a catalogue, will lose customers who prefer that channel. The decision to eliminate a channel can still be profitable in the long run, as long as the savings from the elimination is greater than the lost revenues. Managers can help the math by taking proactive steps to reduce the level of lost revenues.

Idea #252
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YWCA Mobile Club shop visiting an anti-aircraft site somewhere in Britain, 1943 (Source: Wikimedia Commons)

Managing Customer Relations When Demand Exceeds Supply

Idea posted: October 2013
  • Marketing

When demand outpaces inventory suppliers cannot fulfil everyone’s orders. Two academic researchers have developed a quantitative model that suppliers can use to make the right decisions on which orders to fill, and which to delay, while keeping the greatest number of customers happy in the short- and long-term.

Idea #249
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Using Adaptive Decision-Making in Customer Management

Idea posted: October 2013
  • Learning & Behaviour
  • Marketing

How do managers make decisions related to customer relationship management? This Idea looks at research that shows that the majority of managers are adaptive in their decision-making, and those that demonstrate the highest accuracy in their decisions also employ “fast and frugal heuristics” – i.e. rather than using careful analysis of information, they use experience-based techniques for problem solving.

Idea #241
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A sales assistant demonstrates a blackout coat for dogs at Selfridge's in London, circa 1940. The coat would ensure the dog was visible during the dark nights of the blackout (Source: Wikimedia Commons)

The Secret of a Good Sales Assistant: Reading Customer Mood

Idea posted: September 2013
  • Leadership & Change
  • Learning & Behaviour
  • Marketing

The ability to interpret facial expressions and body language is an important interpersonal skill. However, relatively little is known about how it affects people’s perceptions and experiences of retailers. New research suggests that sales assistants sensitive to ‘non-verbal cues’ are viewed positively by customers but negatively by third-party observers. This has important implications for the way ‘customer-facing’ staff are recruited, trained and evaluated — and for the way shops are designed. 

Idea #220
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I am half-sick of shadows, said the Lady of Shalott', William Waterhouse, 1916 (Source: Wikimedia Commons)

Homeworking Beats Outsourcing: a 6 Step Model

Idea posted: May 2013
  • Strategy
  • Leadership & Change
  • Learning & Behaviour
  • Marketing
  • Operations
Institutions: Henley Business School

The use of homeworkers as call centre operatives can benefit both businesses and homeworkers. For companies, common advantages include cost savings, increased flexibility, reduced absenteeism and improved customer satisfaction. But there are also potential problems to overcome. By adopting a six-step model, business leaders can plan homeworking projects effectively, identifying the key areas they need to address.

Idea #142
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