what marketers misunderstand about online reviews

WHAT MARKETERS MISUNDERSTAND ABOUT ONLINE REVIEWS

MANAGERS MUST ANALYZE WHAT’S REALLY DRIVING BUYING DECISIONS AND ADJUST

THEIR STRATEGIES ACCORDINGLY

TOOLS FOR MARKETING STRATEGIES

1) INFLUENCE MIX

2) O CONTINUUM

INFLUENCE MIX

AS RELIANCE ON 1 INCREASES, ON OTHERS DECREASES.

SO IT IS A ZERO SUM GAME

O CONTINUUM

HOW MUCH COMPANIES DEPEND ON O WHEN MAKING DECISIONS ABOUT PRODUCTS?

ANSWERS ARE PRESENTED AS POINTS ALONG THE O CONTINUUM

NOW LET US CONSIDER 2 BRANDS HIGHLY DEPENDENT ON O

XIAOMI LUMIA

BOTH ARE AT OPPOSITE ENDS OF THE SUCCESS LINE-

XIAOMI BEING HIGHLY SUCCESSFUL WHILE

LUMIA BEING UNSUCCESSFUL

NEWCOMERS HAVE LOW BARRIERS TO ENTRY AS LESS IMPORTANCE ON BRANDING,

SO MARKET HIGHLY VOLATILE AND DISRUPTIVE AND A NEW

BRAND CAN GAIN MARKET SHARE QUICKLY

XIAOMI’S ACHIEVEMENTS

A PHONE WORTH $300 SELLING FOR $300

JUST IN TIME WITH JUST THE RIGHT AMOUNT

XIAOMI’S ADVERTISEMENT SPENDING =

SO MONEY SAVED=

PRICE REDUCTION IN PHONES

(ZERO)

ALSO

CONSUMERS IN ASIA ARE MORE PRICE SENSITIVE,

SO SEGMENTATION DONE EXCELLENTLY

THEN HOW COME ALL THE EXPOSURE

WAIT FOR IT…..

YEAH YOU GUESSED IT RIGHT

O

CRITICS AND EXPERTS GAVE EXCELLENT REVIEWS AND RATINGS

CUTTING EDGE TECHNOLOGY PROVIDED AT DIRT CHEAP COST,

SO WORD SPREAD LIKE

WHAT HAPPENED TO LUMIA WHICH HAD THE BACKING OF SUCH A

TRUSTED BRAND(NOKIA)-

IT DIDN’T CHANGE

ALSO

NEGATIVE REVIEWS HIGH PRICES

LIMITED APPLICATIONS

RECOMMENDATIONS:

MICROSOFT(PREVIOUSLY NOKIA) SHOULD SEGMENT THE MARKETS PROPERLY AND PRICE IT’S PRODUCTS ACCORDINGLY

IT CAN USE ECONOMIES OF SCALE AND ALSO CUT DOWN ON ADVERTISEMENT SPENDING TO LOWER ITS PRICES

LETS CONSIDER UNCONVENTIOAL INDIAN BRANDS WITH WHOM EVERYBODY IS FAMILIAR WITH

RAHUL GANDHI

NARENDRA MODI

BRAND MODI OVERCAME THESE CHALL-ENGES

TWITTER FOLLOWERS

0.12 MILLION 13.5 MILLION

RAHUL GANDHI NARENDRA MODI

FACEBOOK LIKES

0.4 MILLION 29 MILLION

RAHUL GANDHI NARENDRA MODI

WE CAN EASILY SEE THE DIFFERENCES OF THEIR IMPACT ON

SOCIAL MEDIA AND THE RESULT BEING

THROUGH HIS INTENSIVE CAMPAIGN ON SOCIAL MEDIA THE YOUTH WAS

BEHIND HIM

WHILE

RAHUL GANDHI THREW AWAY HIS ADVANTAGE OF BEING A YOUNG LEADER BY REMAINING ALMOST

INVISIBLE

HE CAME, HE SAW, HE CONQUERED

WHAT CAN BRAND RAHUL DO TO UPLIFT ITS BRAND ?

DRASTICALLY INCREASE ENGAGEMENT ON SOCIAL MEDIA

SPEAK A LOT MORE ABOUT IMPORTANT ISSUES AND DO NOT PUT HIS WEIGHT BEHIND ONLY ONE

CHANGE THIS STRATEGY AS DEVELOPING INDIA SEEKS MORE

IF BRAND RAHUL IMPROVES SITUATION MAY CHANGE FROM

SO , THINK ABOUT THE PAST AND CHANGE THE FUTURE

AS THOSE WHO CANNOT REMEMBER THE PAST ARE CONDEMNED TO

REPEAT IT

CREATED BY AMOD BANSAL,

THAPAR UNIVERSITY DURING AN INTERNSHIP BY

PROF. SAMEER MATHUR ,IIM LUCKNOW

(WWW.IIMINTERNSHIP.COM)

THANK YOU