Master Class in Zurich - Building Successful Brands
IE Switzerland Club Apr 26, 2012
In a highly competitive and saturated market environment, building strong brands has become an imperative need. The best way to hold customers and attract new ones is to ensure you have a unique value proposition that is both rationally and emotionally different. This talk is designed to actively engage you in understanding the strategic role that brands play in driving business growth and profitability and why they have become key assets in organizations. We will further address how to build a meaningful, differentiated brand as well as how to fully deliver a brand experience capable of driving revenue and profit growth.
Professor: Martin Boehm
The last decade he spent researching and consulting in the area of customer management had a profound effect on Martin Boehm’s thinking as a marketing professor at IE Business School. Those were years during which the corporate world finally realized the necessity to shift from a transaction based to a relationship based marketing.
What really interests Prof Boehm from a marketing standpoint is the management of customer relationships in order to increase a firm’s long-term profitability. “Customers are important intangible assets of a firm that should be valued and managed”, he says. “Only by attracting, retaining, and growing profitable customer relationships firms will be successful in the future”. His research therefore aims to provide managerial implications on how to build profitable and long-lasting customer relationships. His primary concern is to quantify the impact of various customer management activities on a customer’s lifetime value – the net present value of the stream of future profits expected over a customer’s lifetime.
At the same time, Prof Boehm develops analytical models to estimate or approximate a customer’s lifetime value. “One of the major challenges in customer relationship management is still to arrive at reliable estimates of a customer’s future profits and lifetime”, he says. “Not being able to measure a customer’s lifetime value prevents the development of successful strategies for customer management”.
Prof Boehm believes that his work on customer relationship management has broad implications for the corporate world. “I intend to develop insights on how to satisfy customer needs, but at the same time to consider the monetary consequences of doing so,” he says. “This will provide firms with a roadmap for growth.”