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Advanced I-Marketing with Left-Right Circle Concept

Essay by   •  July 3, 2017  •  Essay  •  406 Words (2 Pages)  •  1,550 Views

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Before publish of the “Left-Right Circles Theory”, the 4P (product, price, place and promotion) of Jerry McCarthy dominates the world of academic sector and marketing theory. It was derived from the Company’s perspective, however, missing the most influential factor among all the marketing activities – Customers. Thus the “Left-Right Circles Theory” is the advanced model to calibrate the marketing theory, making it is more applicable and relevant to the fast-changing and demanding market nowadays. For every business model, to drive revenue we need to answer why people buy things. The mechanism that causes us to buy a product or service is simple - to fulfill the job that needs to be done, it applies to any and every product on the market, By knowing what, why and when the customer segments need and make appropriate changes to satisfy their different needs with our core competences and agility to the economic, market and competitive environment, we would be more clear of our position to come up with the vision and strategy to outperform over rivals to achieve business wins. In the era of digitalization and globalization, the customers, the economic, market and competitive are changing faster than ever, thanks to advanced technology and big data marketers nowadays can launch customized program specialized to targeted customer segments efficiently, can be more focus on STP (segmentation, targeting and positioning) and ROI (return on investment) for optimal results and minimal costs. The different marketing paradigms are the results of fulfilling the diverse needs of customer segments via various touch points. This job-to-be-done approach is a lot more effective than the usual marketing strategy to focus on customers' demographics and attributes, Christensen explained. Your demographics and attributes may correlate with others who buy the same product, but they won't cause you to buy the product. At the end, the single most important key to success

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