This type could be explicated in 4 different categories that are usually part of a strong marketing strategy: customer engagement, branding, service and distribution.
Customer engagement is about creating an excellent experience for your customers. Simply said: marketing and communication. In 1999, Joseph Pine and James Gilmore first introduced the concept of an Experience Economy. The concept is that goods and services are no longer enough for consumers – that businesses must create memorable events and experiences that capture their audience and create experiences that transforms their brand’s value proposition (Forbes, 2014). Total experience marketing is a 360-degree platform. Marketing is everywhere. It’s digital, mobile, experiential, social and word of mouth. A brand conversation that begins on a TV campaign must continue digitally. It should become a two-way conversation and ultimately a customer springboard that the brand is curating and amplifying on social platforms. (Forbes, 2014)
Branding is about the representation of your offerings and business. A strong brand creates extra value for your product or service. An example of that would be Virgin. There are many aspects that make Virgin a great brand, but the personalization of the brand in the form of Richard Branson is probably the best one. Richard Branson is well known for using social media and blogging. He’s synonymous with Virgin brands to the extent that the first link on the Virgin.com menu is simply ‘Richard’. And of course we all know who Richard is. He’s the biggest Virgin advocate and ambassador and that’s a great lesson for any business leader. His persona is very public and allows him to tell stories in many media. The Virgin website itself has a timeline, telling the story of Richard’s business interests that quickly become the sprawling Virgin brand. This timeline is beautifully illustrated and replete with nostalgia. (eConsultancy.com)
Service is about supporting and amplifying the value of offerings. Examples include guarantee, lease, loans, loyalty programs, the opportunity for self-service and try before you buy.
Some companies focus only on creating add value through services for other companies. One of them is the Dutch-based company BrandLoyalty which helps other companies creating loyalty campaigns as a service for the most important customers. They say:
BrandLoyalty’s unique value lies in our ‘full service’ approach. We take away all the potential worries and complexities of executing a programme that a retailer could face. These include:
· Providing initial strategic advice
· Developing a tailor-made programme
· Implementing the programme, or series of programmes
· Managing and then evaluating each programme
Distribution has always been one of the most expensive elements of the production process. And because of that companies are always looking for more efficient ways to bring products or services to the customers. The internet has changed distribution channels radically, but also physical distribution channels take new forms every year. One popular example of a new channel is a so-called pop-up store. These pop-up stores, especially combined with ‘go direct’, means that producers can skip several players in the chain of production and create temporary stores within larger stores to sell their products and create brand value. This form of channel innovation is recently adopted by many department stores.