Commitment-Led Marketing: The Key to Brand Profits is in the Customers' Mind - Hardcover

Hofmeyr, Jan; Rice, Butch

Hardcover

ISBN 10: 0471495743 ISBN 13: 9780471495741

Publisher: Wiley, 2000

Synopsis

Keeping and gaining market share is what most business strive for in the race to make brands profitable. In a hugely competitive world, customer loyalty has become a key area for concern. What would happen if you could go one step further and identify not just those customers who are loyal to your brand, but those who are truly committed to your product or service? This book helps you to do just that. More that ten years ago, Jannie Hofmeyr and Butch Rice created something called The Conversion Model -- a technique that analyses the degree of a persona s psychological commitment to anything and everything. Marketers will be able to gain a strategic advantage within their market if they implement the thinking, tools and strategies outlines in this book. "After years of using customer satisfaction measures I was extremely frustrated at the lack of correlation between satisfaction and subsequent customer defection rates. The measurement of commitment, via The Conversion Model provided the vital link I had been looking for." Alan Gilmour, Brand and Marketing Director, Lloyds TSB "The Conversion Model enabled us to establish real insight into loyalty and we effectively fused it with a segmentation process. This has allowed us to really grapple with the core market dynamics and establish key marketing objectives in an increasingly competitive and diverse marketplace..." Mark Horton, Group Head of Marketing, Northcliffe Newspaper Group "Since I first came across the Conversion Model back in 1990, I have always found it was the perfect tool for measuring the health of brands Ia ve worked on..." David V. Spangler, Director, The Council for Marketing and opinion Research (MCMOR) and former Research Director of Levi Strauss Co "The Conversion Model is a compelling strategic marketing tool that offers a true understanding of institutional investor behaviour. It is a predictive indicator of potential market share gains and losses with a phenomenal degree of precision." Patricia Toney, Manager, Marketing research, Chicago Board of Trade "To grow a business, convert customers to your offering and then keep them committed...a very powerful answer is in this book." John Deighton, Professor of Business Admininstration, Harvard Business School "Using the Conversion Model has given us significant insights into brand choice across a range of countries and cultures...The added dimension of commitment has allowed us to understand more comprehensively what is in the mind of our consumers -- a real plus in terms of giving us the competitive edge." Janett Edelberg, Joseph E. Seagram & Sons

About this title

Review

..."many marketing professionals might find this an interesting read..."
--Sales Director, February 2001

"The book provides good case studies and useful chapter summaries. The content seems challenging...Issues raised are thoroughly researched, convincingly argued; taking the profession forward in its quest for more accurate and effective marketing."
--Marketing Business, March 2001

"The book provides a common-sense thinking approach to the management of the relationship between the brand and the customer. ..."
--Professional Manager, May 2001

From the Author

"Commitment-Led Marketing", written by Jan Hofmeyr and Butch Rice, encapsulates the learnings of more than ten years of experience in applying the principles of commitment to the formulation of marketing strategies and tactics. The measurement of the commitment of consumers to the brands they use was undertaken using the Conversion Model(tm), a methodology originally developed in the 1980's by Jan Hofmeyr during his tenure as an academic in the field of religious studies. Intrigued by the way in which the conversion to Christianity was taking place in a community of Hindus, he formulated a psychological model which explained why some religious converts had a fairly comfortable slide into their new religion, while for others it was a far more dramatic rebirth.

The model was conceptualized with no thought of commercial application. After its application in the field of religion, it was applied in the field of politics by Hofmeyr, who was then working as a political strategist. It was during this period that he and Butch Rice met and collaborated in extending the applicability of the Conversion Model to the field of marketing.

The Conversion Model produces a very simple segmentation of any market. Customers or users of a product or service are segmented according to their commitment to the brands they are using, while non-customers are segmented according to their availability. This concept, albeit simple, was not in general use prior to the launch of the Conversion Model in the United States in 1990. The Conversion Model measures what consumers "feel" in contrast to other methodologies which measure what consumers "do". What we do and feel are not necessarily the same. Think of marriage. Many people stay unhappily married for many years, without getting divorced. Many people use banks they dislike for many years without switching. And many people fly on airlines they dislike, simply because they are locked into loyalty programs, rather than because they are satisfied with the service the airline provides.

The concept of the Conversion Model, although simple, is complex in its underlying methodology. Employing concepts derived from the mathematics of catastrophe theory, individuals are segmented as a result of responding to a battery of questions. The questions are simple and easy to administer, and have been administered telephonically, via the mail, in face-to-face interviews, and over the Internet.

The Conversion Model has been used in more than 80 countries, and in nearly 200 product/service categories, with support having been enjoyed from 80% of the world's leading multinationals.

Edition details

• Publisher: Wiley
• Publication date: 2000
• ISBN 10: 0471495743
• ISBN 13: 9780471495741
• Binding: Hardcover
• Language: English
• Edition number: 1
• Number of pages: 320