Marketing Lesson from Sochi Winter Olympics - Strategy With RS
Can you get your customers to do anything against their wishes?
Can you get your customers to do anything against their wishes?
Space Internet will beam internet at speeds equal to if not better than fibre optic cables. For that it intends to surround earth with 1000s of low satellite who will sit in, what can be called as, low earth orbit – 5000 miles form earth, low enough to provide high speed access to internet but high enough to avoid interferences from other communication satellite & spectrum.
"Sticks in a bundle are unbreakable" - Bondei saying
If you wish to win your customer's heart & mind & eventually their business then you will have to come up with a business model which is in sync with their lifestyle & unique requirements.
Uber, made ‘surge’ price enter popular parlance. It is the price that is charged to customers depending upon demand, environment factors & more. For example, if it rains suddenly & demand for taxi goes up in an area, Uber will immediately raise the price under the guise of getting more drivers on the road! And when the demand falls the price too comes back to the ‘normal’. This strategy has caused an uproar with many labelling it as unethical & amoral because a user’s helplessness is being exploited for commercial gain.
Service providers – restaurants, airlines, banks, Uber are under 24 x 7 ‘review’ by customers.
Behavioural science seeks to understand why customers behave the way they do and more importantly, what influences their behaviour. Once we gain an understanding into this, we can get our customers to behave the way we want them to - of their own volition and at near zero cost.
As a person handling business / brand you know how difficult it is to get your customers to emotionally engage with your business / brand? You may erroneously lay the blame at the doorsteps of your customers surmising that they are 'cash rich' but ‘time & attention’ poor.