EMC 2 : DELIVERING CUSTOMER CENTRICITY—CASE STUDY EXECUTIVE SUMMARY Founded in 1979 by Richard Egan and Roger Marino, college classmates, EMC Corporation started fueling into the emerging industry of data storage. EMC promised its customers a new kind of relationship where they would ultimately be the center of their mission, and being able to deliver results with outstanding quality was their main priority. Adding stepObyOstep a strong Customer Relationship Management (CRM) practices, became the company’s drive for business, while keeping in mind the importance of listening to the voice of their customers at all times. With strengths and weakness to work upon, EMC has been able to innovate and compete in the industry; integrating technologies such as Web 2.0 to maintain the customerOdesired digital interactions effectively. With years of experience and success, EMC customers started demanding a different, and yet unknown to the company, touchOpoint integration. Their wellOdeveloped faceOtoOface communication was no longer customer’s ideal way of getting in touch with them and were driven towards a more technological, easier way, digital interaction. As such, their customized CRM practices where in need for a change, from which studied alternatives are being provided as possible ways for the company to efficiently satisfy their valued customer centricity. The main uncertainty would be: if having high tech would really deliver high touch, and if the center of the company would still be the customer, without that physical human component of the relationship. As studied further in the analysis, suggested is the implementation of a Customer Department that can completely take over and act upon business refined actions that can turn the direction of the company towards the digital realm. EMC counts with a large sales force empowered for the convenience of their customers. Considered is the idea of aligning their skills to the digital world, and if necessary, recruiting practices are to be utilized to comply with customer demand. The company has a vast technology and infrastructure available to achieve objectives set and ValueOAdded Retailers (VARs) that facilitate the way of getting in touch with the customers with a decreased cost while maintaining an increase in revenue. EMC has enormous experience in the industry, which gives them the opportunity to implement new and enhance CRM practices with their already established relationships and acquire new relationships, digitallyOdriven, by engaging online. With the alternative provided, EMC will be able to retain their customers and obtain new ones. Transforming the organizational structure imperatively requires a substantial investment; and as the digital interaction is being implemented in their endOtoOend CRM, the results will also be substantial. The promise is essentially growing as a
Marketing & Sales Case Study Analysis and Solution
At Fern Fort University, we use Harvard Business Review (HBR) marketing principles and framework to analyze EMC2: Delivering Customer Centricity case study. EMC2: Delivering Customer Centricity is a Harvard Business Review case study written by Thomas Steenburgh, Jill Averyfor the students of Sales & Marketing. The case study also include other relevant topics and learning material on – Customers, Sales, Social platforms
Strategic Marketing Analysis of EMC2: Delivering Customer Centricity case study written by Thomas Steenburgh, Jill Avery will comprise following sections –
- EMC2: Delivering Customer Centricity Case Description
- Marketing Definition
- Market Potential Analysis of EMC2: Delivering Customer Centricity
- Market Share Potential Analysis
- Segmentation and Segment Attractiveness Analysis
- Competition and Competitiveness Analysis of EMC2: Delivering Customer Centricity
- Customer Value Analysis of EMC2: Delivering Customer Centricity case study
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EMC2: Delivering Customer Centricity Marketing Case Description
Sales & Marketing Case Study | Authors :: Thomas Steenburgh, Jill Avery
This case introduces the concept of customer centricity and traces its development at EMC, the world's leading data storage hardware and information management software company. EMC's customers had historically relied on EMC salespeople to guide them through the complex, consultative buying process. However, with the rise of social media, prospective customers are getting more of the information they require earlier in the purchase process online. As they do so, their physical interactions with EMC salespeople are decreasing, while their digital interactions are increasing. Given the changing business environment, BJ Jenkins, senior vice president of Global Marketing, faces significant challenges as he tries to maintain EMC's culture of customer centricity. These include 1) translating EMC's platinum service levels, designed to appeal to the world's largest companies, to small businesses and B2C customers, 2) understanding how the replacement of physical interaction with digital interaction in the consultative selling process affects EMC's business, and 3) managing a VAR sales model that distances EMC from its customers.
Customers, Sales, Social platforms
According to American Marketing Association – Marketing is a set of activities that a firm undertakes for creating, communicating, delivering, & exchanging offerings that have value for customers, clients, partners, and society at large.
Kotler explains - Marketing is a process by which organizations can create value for its potential and current customers and build strong customer relationships in order to capture value in return.
Market Potential Analysis of EMC2: Delivering Customer Centricity
Market potential analysis comprises evaluating the overall market size of the related product that the firm is planning to launch. This will involve defining – Why the target market segment needs the product and how it will provide a solution to full its consumers’ needs. Market potential of EMC2: Delivering Customer Centricity products various on factors such as –
- Maturity of the market. In mature markets the profitability is often stable but the market potential is less as most of the players have already taken market share based on the segment they are serving. New players have to go for market share strategies in marketing.
- Technological competence of the existing players and culture of innovation and development in the industry.
- Untapped market sizes and barriers to both enter the market and serving the customers. Often companies can easily see the unfulfilled needs in the markets but they are difficult to serve as there are costly barriers.
- Define the core need that your product is serving and list out all the direct and indirect competitors in the market place. This will help not only in positioning of the product but also in defining or creating a segment better.
- Uncovering the current and untapped market sizes and barriers to serving the larger market. Analyze the areas that you need to sort out while launching the products to wider market and what are the challenges the firm will face in market place.
- Estimate the current stage in product life cycle and its implications for marketing decisions for the product.
Market Share Potential Analysis
- Understanding the buyer behavior model for EMC2: Delivering Customer Centricityindustry.
- Identifying the market share drivers relevant to EMC2: Delivering Customer Centricity market.
- Segment Attractiveness Analysis – Our analysis will work out which are the most attractive segments and which are the one the firm should go ahead and target. We point out in great detail which segments will be most lucrative for the company to enter.
- Understanding the different needs and relative value of your offering by segment.
- Developing segment priorities and positioning the product based on the product need fit developed by the firm.
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Competition & Competitive Position Analysis
- Uncovering customer-based competitive positions for key rivals and firm’s offering. This will not only help in assessing the strengths and weaknesses of the competitors but also help in defining and positioning of the product.
- Developing a positioning and launching strategy. It will require not only distribution channel analysis but also promotion mix for the product.
- Strategic Marketing Planning — the process of developing and maintaining a strategic fit between the organization’s objectives and capabilities and the ever evolving marketing opportunities for its products.
EMC2: Delivering Customer Centricity - Customer Value Analysis
Capturing customer value is essential to marketing efforts as it results in higher return in the form of both current & future sales, greater market share, and higher profits. By creating superior customer value, the organization can create highly satisfied customers who stay loyal and buy more. This, in turn, means greater long-run returns for the firm.
- The crucial role of customer perceived value in acquiring and retaining profitable customers. Product differentiation is often based on building on a value niche that a firm believes that is very important to the customer. This niche contributes to perceived value. If the perceived value is high then customer stay loyal to the product if not then she can switch to the competitor’s product.
- Graphically displaying value differences for deeper understanding and better internal communication. This helps is building a narrative that a customer can identify with. The better the insight more are the chances of connecting with the potential customers.
- Identifying and selecting actionable value creation options. This can help in increasing the customer lifetime value. Customer lifetime value is the value of the entire stream of purchases that the customer would make over a lifetime of patronage.
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