Customer experience is now firmly established as a strategic priority in most businesses. CX is no longer an adjunct of operations, a ‘poor cousin’ to marketing. It has become the battleground on which a majority of players have realised they need to compete in the coming decades.
We have moved from an Age of Consumerism (which spanned the 60s, 70s and 80s) through the Information Age (when many of today’s most valuable global brands matured) to the dawning of an Age of Experience (when customer experience will become the key differentiator for brands).
Jerome McCarthy’s marketing mix of Product, Promotion, Price, and Place has been undermined by technological advances to the point where it has had to be expanded to 7 Ps. Today’s consumer is looking for a deeper, more emotional bond based on the unique and differentiated experience that the brand can provide.
In this paper we consider the decline of the traditional drivers of brand reputation and differentiation, explore four strategic pillars that help differentiate brands and identify seven steps that will help you deliver a truly branded experience.
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