Please write one page double space article review discussion. And then two 75-100 words comments on each discussion I gave.
Unformatted Attachment Preview
Another McKinsey article on marketing topics that will impact you. We are all now experiencing
more efforts by marketers to personalize the experience. When you go to Starbucks your name
is on the cup, Chipolte puts what -you-want-in -a bowel -in-front-of -you, my bank gives me a
better statement etc. But we are a fickle folk indeed and we want more, and more, and more……
Notice the use of CRM ( customer relationship management) , data and analytics.
Make comments on each of the discussion:
I think that a key insight from this article is the increasing role of analytics translators in
transitioning traditional marketing teams to meld business goals with data outcomes. The article
highlights increased empathy as a tool that will help personalize business behavior in the future,
and I believe that this will be a key element in boosting organizations’ service profit chains (as
introduced in Ch. 8). Much of the success of new technological advancements in the AI sphere
has stemmed from a heightened understanding and design according to human behavior. Take
Alexa and Siri, for example. Both of these voice recognition tools are able to perform tasks for
us by interpreting our commands. Voice recognition is only one example of how technologies
are advancing to complement human behavior. Nonetheless, they are clear examples of how
companies are beginning to utilize the large amounts of consumer behavior data in order to
develop solutions that provide customers with a personalized and streamlined experience.
Additionally, the Internet of Things is rapidly changing the way that companies interact with their
customers and can understand how their products are being used in real time. Thus, this
extends the customer experience beyond the sale itself and into an analysis of how a customer
uses the product. While many of these new advancements are very exciting, events like the
brief blackout on New York City’s West Side remind us of our vulnerability due to our
dependency on these technological resources.
Personalized marketing indeed in the recent past gained popularity as companies leverage data
analysis and digital technology to deliver individualized messages and product offerings to
current or prospective customers. From my experience, I think that this is the way to go as it
makes consumers feel that brands are making efforts to know and prioritize their needs. The
first time I experienced this form of marketing involved a certain store sending me promotional
messages, both in texts and in the mail of a certain product they had introduced. What struck
me first is that the message had my full names! Of course, I followed it up to know exactly what
they were offering in details. I felt that they had brought the services nearer as compared to
when the same product would have been advertised in national television for instance and more
so it was more customized to my needs. In the end, I was a happy customer.
A few of the advantages that I see tagged along personalized marketing are that one, it allows a
company to effectively target individual current and prospective customers, thereby meeting
their specific needs/wants. Secondly, it makes consumers happy. This is in line with what is
discussed in chapter 8 that keeping consumers happy is the key to building a lasting
relationship which is what all brands try to establish. This goes hand in hand with increased
sales. I foresee a future where majority of companies will adapt personalized marketing as
compared to the traditional way of marketing.
Our essay writing service fulfills every request with the highest level of urgency