In their book of the same title W. Chan Kim and R. Mauborgne state that traditional approaches of competitive strategies – cost leadership OR product (brand) differentiation – no longer make sense, especially in mature markets. Instead, by combining BOTH of these strategies, one should create completely new products and/or business models. Thus new customer segments can be targeted as well as entirely new markets be created. It is the goal of such an approach to make competition irrelevant, at least for a certain period. What is crucial is the management of an innovations process in which customers have to be involved. See also http://en.wikipedia.org/wiki/Blue_Ocean_Strategy

Simply put, a business model explains how a given company is making a profit. Which kind of customer is paying how much, when and in exchange for which product or service? In addition to the customer perspective, usually also the suppliers’ (cost) side will be looked into. See also  http://en.wikipedia.org/wiki/Business_model

In his book “Business Model Generation” A. Osterwalder presents a great variety of business models based on practical examples. The “Business Modell Canvas” itself is a tool that should help companies to design new business models in a systematic and well-structured way. Basically, proven as well as new analytic tools from management theory (such as Porter’s “Five Forces”) are consolidated and make up a new meta-tool which is clearly arranged and can be easily understood. See also http://en.m.wikipedia.org/wiki/Business_Model_Canvas

By means of electroencephalography (EEG) voltage fluctuations on the scalp, which stem from brain activity, can be measured. Parameters such as attention, emotions and memory can be displayed to the split second. See also http://en.wikipedia.org/wiki/Electroencephalography

With eye tracking one can measure and show where a person is looking. Neuroscience in combination with EEG technology makes it possible to actually figure out what triggers the attention of the test person, what he or she is interested in and simultaneously what is happening in the proband’s brain while watching an object. See also http://en.wikipedia.org/wiki/Eye_tracking

This instrument, created by M. Porter, is a great tool to analyse and judge the attractiveness of a market, respectively the competitive situation within it. Who and where are the competitors? What about the power of suppliers and customers? Is there a likelihood of new market entrants as is often the case in attractive markets? Is there a danger of substitute products (even from other industries) that can satisfy the same needs by different means? See also  http://en.wikipedia.org/wiki/Porter_five_forces_analysis

By means of functional magnetic resonance imaging, (fMRI), active brain areas can be monitored and displayed while being at work . Equipped with proper (so-called BOLD) software even emotional reactions in the brain can be visualised by modern magnetic resonance tomographsMRI scanners. See also http://en.wikipedia.org/wiki/Functional_magnetic_resonance_imaging

“..the aim of marketing is to know and understand the customer so well the product …sells itself…” (P. Drucker); but what is marketing indeed? There is no generally binding definition. For some people marketing equals advertising, for others marketing has something to do with corporate strategy and management. For pragmatic reasons it makes sense to differentiate between strategic and operative marketing. The former deals with positioning of products, business units or entire companies from the customers’ point of view. The latter covers a set of instruments (the so-called marketing mix), which are supposed to be used in a coordinated way in order to achieve the desired position. See also http://en.wikipedia.org/wiki/Marketing

The so-called “four Ps” – product, price, place (distribution) and promotion (communication) – encompass the marketing mix. Ideally, these areas and their operative and tactical marketing tools are managed and applied in a coordinated manner in order to achieve the desired marketing strategy or positioning. See also http://en.wikipedia.org/wiki/Marketing_mix

Neuro advertising is one subarea of neuromarketing and deals with the optimisation of all kinds of marketing communication tools (TV and radio spots, advertisements, brochures etc.) by means of fMRI-based market research. Magnetic resonance tomography in combination with specific analysis software allows emotions to be measured directly at the test person’s brain while he or she is watching a TV spot or any other kind of promotional tool. Thus the likelihood of success of the advertisement can be forecast quite accurately much more accurately than with conventional testing methods. Moreover, it is also possible to make adaptations to the advertising material in order to enhance its efficiency. See also  http://en.m.wikipedia.org/wiki/Consumer_neuroscience#Advertising

Consideringed that all decisions (alsoeven buying decisions, too) are made unconsciously, neuro marketing’s aim is it to trace these mental processes by the means of brain imaging techniques. Due to the speed of progress in fMRI technology during the last couple of years, one it is now is ablepossible to measure and visualise those regions in the brain, which that are relevant for buying decisions. Neuro marketing itself is a subarea of so-called neuro economics. See also http://en.wikipedia.org/wiki/Neuromarketing and http://en.wikipedia.org/wiki/Neuroeconomics

By means of EEG- brain scans, one can find out the buying inclination of customers for to buy certain products. This method forecasts the buying behaviour and readiness of to paying a certain price in the actual buying situation much better than this is done by traditional price interviews or questionnaires. Mainly that is because emotions, attention and memory effects can be measured in an unbiased way. Pricing (policy) as such is one component of the so-called marketing mix.

„This tool, developed by M. Porter, describes the status quo of the environmental and macroeconomic conditions a given industry (or company) has to cope with. What does the political, economic, socio-demographic and technological framework look like and which changes are likely to be expected? See also http://en.wikipedia.org/wiki/PEST_analysis

“„Positioning is the marketing activity and process of identifying a market problem or opportunity, and developing a solution …by deliberately creating and stressing the strengths and qualities, by which one product differs from another in the mind of the customer”” (quotesource: Wikipedia). Mostly it is not about actual qualities or features of a product or service but about perceived qualities. As we know from neuro science most of human decisions is are based on unconscious and emotional criteria. See also http://en.wikipedia.org/wiki/Positioning_(marketing)

According to theory (T. Levitt), sales numbers of a given product follow a typical pattern after having been launched. One speaks of five phases – development, introduction, growth, maturity and decline. U.S. sociologist E. Rogers in turn observed the same pattern even before Levitt and claimed that it was typical for ANY innovation (ideas, processes, objects). In each of these phases, a certain type of person (or customer) will finally accept that innovation. Rogers labels these types of persons as innovators, early adaptors, early majority, late majority and laggards. Applied to marketing that means that at different stages of the product life cycle the relevant customer segments have to be approached by different means of communication, by different styles and with different content for a company to stay economically successful over time. Accordingly, the remaining elements of the marketing mix have to be adapted to these different requirements. See also  http://en.wikipedia.org/wiki/Product_life-cycle_management_(marketing) and http://en.wikipedia.org/wiki/Diffusion_of_innovations

This is a simple but well approved analysing tool, which is used frequently in the planning process of a company. On the one hand, internal resources are screened. Depending on their quality and value, they can be seen as strengths or weaknesses, especially when compared with competitors’ resources. On the other hand, one investigates the external environment and assesses certain parts of it in the light of a potential opportunity or threat to the company under consideration. See also http://en.wikipedia.org/wiki/SWOT_analysis

In contrast to consulting, a systemic coach is not an expert for a certain area (e.g. taxes, law, marketing etc.) or particular (personal or professional) problem of the client. Instead, the systemic coach is considered an expert for coaching tools and the coaching process, the latter in collaboration with the client. The aim of systemic coaching is it to perturb the client’s view of a certain situation or problem. Thereby the clients experience a mental change of perspective vis-a-vis a particular problem. Ideally, they are then able to solve it in their own ways, using their own personal resources.

See also  http://de.wikipedia.org/wiki/Coaching

Ideally, a product or an entire company differentiates itself vis-a-vis its competitors by a unique selling proposition. That means the product or company has at least one feature that is both unique and sellable (in demand). See also http://en.wikipedia.org/wiki/Unique_selling_proposition