Date post: | 12-Apr-2017 |
Category: |
Marketing |
Upload: | spsaffinity |
View: | 114 times |
Download: | 1 times |
Masterclass: Influencing Consumer Choices
The Evolution of Marketing | Employees as Brand Marketers | Your 2016
Marketing Budget
Martin Kubler FIHCEO – Iconsulthotels & sps:affinity
Hospitality, Tourism, & Service Industries Consulting | Innovation Specialist, Writer, Trainerwww.iconsulthotels.com
Martin KublerHotel GM turned Hospitality & Service Industries Consultant
Public Speaker, Lecturer, Writer
• CEO of Iconsulthotels & sps:affinity• MBA in Marketing & Innovation from GIHE• Likes: Vegan food, strong coffee. Dislikes: Okra• Columnist for Hotelier Middle East, Travel & Tourism
News Middle East, HBME• Keynotes: GITEX (Dubai), HTF (Las Vegas), ITHS
(Oman)
Influencing Consumer
Choices: Marketing to
Tomorrow’s Consumers &
Diners
Will innovation wow them?
Does loyalty still exist? Will your messages
reach them?
Yesterday’s Consumers
• Passive Consumption
• One-Way Communication
• One Thing at a Time
Today’s Consumers
• Sharing & Interacting
• Multi-Way Communication
• Everything at the Same Time
Tomorrow’s Consumers
Tomorrow’s Consumers
Mobile
Tomorrow’s Consumers
Micro / Local / “Glocal”
Tomorrow’s Consumers
Faster
Tomorrow’s Consumers
• Third Place Working / #workshifting
• Outernet
• Data Era & The Power of Data
• The Sharing Economy
• “What’s in it for me?”
Theme 1: Social & Digital Connectivity
Theme 1: Social & Digital Connectivity
• “Always on”
• Impacts entire consumer lifecycle
• What’s the trade off?
• Value rather than gimmicks
Theme 2: Design & Space Use
Theme 3: Customization & eWOW
Theme 3: Customization & eWOW
The Break Up
Theme 3: Customization & eWOW
• The end of the fruit basket
• Smart Luxury
•A chance to save?
• The age of random excellence?
Theme 4: The End of Certainty & Hierarchy
Success requires cross-functional feedback loops & teams:
From silos, lack of communication, multiple handoffs…
Cross-functional roles, high collaboration, results oriented…
Yesterday & Today: Restaurants
Yesterday Today
“Restaurants are what they say they are”
“Restaurants are what people say they are”
Full Control Loss of Control
One Size Fits All Tailor-Made / Customized
Marketing Department We’re all in marketing now!
Not enough data Too much data?
Future Impact: Classifications & Ratings
Future Impact: Classifications, Ratings, Search
These are not just consumer reviews…
Future Impact: Social Currency
Future Impact: Social Currency
Future Impact: Social Currency
Not all consumers are created equal…
Future Impact: Social Currency
Some Theory…Consumer Choice
Theory:• Utility is the
satisfaction or pleasure derived from consumption of goods or services.
• Actual measurement of utility is impossible, but economists assume it can be measured by a fictitious unit called the “util”.
The Diamonds <-> Water Paradox
Even though water provides a higher utility than diamonds, diamonds are
more expensive than water? Why?
Water is plentiful in most places, so its marginal utility is low -> low
price
Diamonds are scarce and their marginal utility is high -> high price
Do you sell water or diamonds?
Be a Diamond. Beat the Substitution Effect!
Substitution Effect: The change in quantity demanded of a good or service
caused by the change in price relative to its substitutes.
Suppose the price of a Pepsi Cola falls, while the price of a Coca Cola
remains unchanged.
Consumers will buy more Pepsi Cola, because relatively, it’s less
expensive than Coca Cola.
Examples
Examples
Tips & Tricks
Not retargeting? You’re losing $$$$...
Tips & Tricks
Social WiFi – a no brainer…
Tips & Tricks
Hotels have Revinate. Restaurants have Localyser.
Tips & Tricks
MyTriphoto – 360 user-generated
selfies…
Tips & Tricks
… and now?
Summary
• Welcome to the age of random excellence
• Our structures! They need to change!
• Listen! No, really listen!
• Average does not create ripples
Hospitality, Leisure, & Tourism Consulting
Destination Branding
Sales, Marketing, PR
Operations Consulting, Training, Coaching
Please connect!
LinkedIn: http://ae.linkedin.com/in/martinkubler/
Email: [email protected] | Twitter: @martin_kubler