DEEP Insight

Strategies to Reach the Changing Consumer Premium

Tech is changing how we do business. Break out of your bubble and learn to manage better in a digital age.

This executive dossier includes the following articles:

3 Steps to Market-Driven Digital Transformation Premium

Stairway to Digitalization

Villanueva, Julián; Ferrándiz, Luis

The authors interviewed C-suite executives from 22 companies to discover best practices, and missteps, on the path to getting a business ready for a digitally transformed world. Their model, called the Stairway to Digitalization, starts with the ability to interpret market forces. This demands a marketing-driven fixation on customers, but since customers' evolving needs do not happen in a vacuum, managers also need to analyze competitors, collaborators and context. The next step is for the executive committee and board to express a wholehearted digital commitment. Finally, the authors explain the chief levers of execution, so that the strategic goal of digital transformation might be achieved, resulting in a new business proposition for the firm. This article contains useful tips applicable to incumbent firms and digital pure players alike.

Selling Experiences to Connect With Consumers Premium

Experiential Advertising

Gallo, Iñigo; Townsend, Claudia

The Experience Economy is pervasive. Consumers are diverting more of their disposable income to engaging in experiences. And even material purchases are increasingly being positioned as experiential. This article presents the findings of the authors' research into the marketing of experiences. Selling products through the allure of experiences can yield enormous benefits, such as increasing the "talkability" of the product -- highly relevant in today's social media age. Yet there are limits to doing so. Marketers aiming to position their material brands as experiences need to understand the dynamics at play in order to be successful.

Using Big Search Data to Map Your Market Premium

Marketing in a Digital Age

Skiera, Bernd; Ringel, Daniel M.

Markets today are flooded with an increasing number of products and brands, making it difficult for companies to track how their products compete in the market. Big search data allow companies to obtain valuable insights on market share as well as on key competitors. But collecting and analyzing vast amounts of data pose huge challenges. In this article, the authors describe how they used clickstream data to visualize competition in product categories containing more than 1,000 products. Both manufacturers and retailers can profit from their approach, which yields more meaningful information on customer behavior than traditional market research methods.

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