Understanding the New Internet Customer Lifecycle: A different Marketing Model?
11th Dec 2000
This presentation investigates the effect of the Internet on the customer lifestyle model.
The Internet is seen as empowering customers and businesses alike without changing the fundamental needs of either. Traditional purchasing models are described and analyzed, and the basic concept of customer "loyalty" underpinning these models is brought into question.
In the e-World, it is posited, "loyalty" can be defined as "inertia + relationship benefits", and the challenge facing the e-business is to stay on the right side of the relevant "acceptance" and "value" thresholds, which are dynamic and are determined by competitors and prevailing notions of best practice. The importance of understanding the customers own value hierarchy is crucial here.