Week 11 Discussion questions
1. A customer-centric company builds long-lasting relationships by focusing on what satisfies and retains valuable customers. Discuss how Petco follows this customer-centric philosophy.
Petco follows this customer- centric philosophy by letting their customers post reviews about this product. This lets petco focus on what the customers are satisfied by and what they value the most in the products they buy from their store.
2. Go to Petco.com and read some of the customer reviews for various types of products. Do the one- and two-paw ratings tend to outnumber those with four and five paws, or the other way around? Can you find a customer review that Petco could use to market a product in a company circular or email ad?
As with most websites that allow customer reviews, the higher ratings tend to outnumber the lower ratings but not by a whole lot. An option their website offers which is great for this assignment is to click on the average rating tabs for all of their products in a specific catergy. An an example I clicked on decor items for fish pets and the average ratings for the decor fish items popped up the side letting me see the best or worst products. Their are plenty of customer reviews that petco could use to market a product in a company circular or email ad. An example that I found was of the Penn Play South Castle Aquarium Decor by SqueakyPickes (interesting username), “I have a tank with multiple nocturnal fish and fish that like to hide (plecos, catfish, chinese algae eater etc) and this castle provides enough room for them to feel safe and allow the other wish to swim in and out with ease. It looks great and seems to be holding up well. The entire thing is pretty much hollow so it could easily be home for some larger fish that like to hide.”
3. Now that Petco has identified the type of customer most likely to write reviews of its products, discuss the kinds of promotions that might encourage continued loyalty and response online from them in the future. What could they do to appeal to these customers?
I think they did great with the promotional banners to the site and by advertising drawings where lucky reviewers would receive cash prizes. This got them 4,500 reviews just by doing this idea! Loyal customers are always looking for promotions and deals with the brand they love most because who doesn’t love to get satisfaction guaranteed and a deal at the same time? They could encourage the reviews by adding a “buy one get one free” to their next purchase when they review the product or they could even do cash back points for a free item.
4. Many mainstream retailers are still hesitant to post customer reviews on their websites. If you were consulting with one of these companies, what arguments would you use to convince management to try them?
Customer reviews are a great way for the business to expand their products by understanding what their customers are satisfied and dissatisfied with. When people post their reviews they hope to feel important and help others around them and when companies respond back to some of these reviews, it looks great on the company should they care about their customers and aren’t just about the money. Customer reviews also give a customer the idea of the product before it’s even purchased. This gives them a chance to possibly buy a more expensive item if the comments discuss how it was a “you get what you paid for” type of product.
5. Read Chapter 11 and explain what brand associations mean.
Brand associations are the connections that consumers make between a brand and their most influential quality. An example the book refers to is the Nike swoosh sign that most people associate Nike with even if Nike’s name is not presented with the swoosh. (Grewal, Marketing)
6. Nielsen "BuzzMetrics" initiative measures word-of-mouth ("buzz") on nearly 100 million blogs, user groups & social networking sites about brands & products. Explain how it works and why it is a valuable tool to some marketers.
As stated on their very website BuzzMetrics is a “global measurement and data analytics company that provides the most complete and trusted view available of consumers and markets worldwide.” Customers post their opinions on the internet including the actual product or services website or on a form of social media such as twitter. They then take a look at all of these reviews and add them to the company in specific it’s referring to. This is available tool to some markets because it gives them a better understanding of their sales for products. This will help understand why a product is selling so well (so what customers like about it) or why it hasn’t been selling at all. This also gives markets more insight on how their customers feel about the product or service being offered to them and how the company can value these opinions to make their company bigger and stronger against other competitors.
Petco follows this customer- centric philosophy by letting their customers post reviews about this product. This lets petco focus on what the customers are satisfied by and what they value the most in the products they buy from their store.
2. Go to Petco.com and read some of the customer reviews for various types of products. Do the one- and two-paw ratings tend to outnumber those with four and five paws, or the other way around? Can you find a customer review that Petco could use to market a product in a company circular or email ad?
As with most websites that allow customer reviews, the higher ratings tend to outnumber the lower ratings but not by a whole lot. An option their website offers which is great for this assignment is to click on the average rating tabs for all of their products in a specific catergy. An an example I clicked on decor items for fish pets and the average ratings for the decor fish items popped up the side letting me see the best or worst products. Their are plenty of customer reviews that petco could use to market a product in a company circular or email ad. An example that I found was of the Penn Play South Castle Aquarium Decor by SqueakyPickes (interesting username), “I have a tank with multiple nocturnal fish and fish that like to hide (plecos, catfish, chinese algae eater etc) and this castle provides enough room for them to feel safe and allow the other wish to swim in and out with ease. It looks great and seems to be holding up well. The entire thing is pretty much hollow so it could easily be home for some larger fish that like to hide.”
3. Now that Petco has identified the type of customer most likely to write reviews of its products, discuss the kinds of promotions that might encourage continued loyalty and response online from them in the future. What could they do to appeal to these customers?
I think they did great with the promotional banners to the site and by advertising drawings where lucky reviewers would receive cash prizes. This got them 4,500 reviews just by doing this idea! Loyal customers are always looking for promotions and deals with the brand they love most because who doesn’t love to get satisfaction guaranteed and a deal at the same time? They could encourage the reviews by adding a “buy one get one free” to their next purchase when they review the product or they could even do cash back points for a free item.
4. Many mainstream retailers are still hesitant to post customer reviews on their websites. If you were consulting with one of these companies, what arguments would you use to convince management to try them?
Customer reviews are a great way for the business to expand their products by understanding what their customers are satisfied and dissatisfied with. When people post their reviews they hope to feel important and help others around them and when companies respond back to some of these reviews, it looks great on the company should they care about their customers and aren’t just about the money. Customer reviews also give a customer the idea of the product before it’s even purchased. This gives them a chance to possibly buy a more expensive item if the comments discuss how it was a “you get what you paid for” type of product.
5. Read Chapter 11 and explain what brand associations mean.
Brand associations are the connections that consumers make between a brand and their most influential quality. An example the book refers to is the Nike swoosh sign that most people associate Nike with even if Nike’s name is not presented with the swoosh. (Grewal, Marketing)
6. Nielsen "BuzzMetrics" initiative measures word-of-mouth ("buzz") on nearly 100 million blogs, user groups & social networking sites about brands & products. Explain how it works and why it is a valuable tool to some marketers.
As stated on their very website BuzzMetrics is a “global measurement and data analytics company that provides the most complete and trusted view available of consumers and markets worldwide.” Customers post their opinions on the internet including the actual product or services website or on a form of social media such as twitter. They then take a look at all of these reviews and add them to the company in specific it’s referring to. This is available tool to some markets because it gives them a better understanding of their sales for products. This will help understand why a product is selling so well (so what customers like about it) or why it hasn’t been selling at all. This also gives markets more insight on how their customers feel about the product or service being offered to them and how the company can value these opinions to make their company bigger and stronger against other competitors.
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