From the course: Building a Winning Enterprise Marketing Strategy
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Retention earn-share strategy
From the course: Building a Winning Enterprise Marketing Strategy
Retention earn-share strategy
- [Instructor] So, you might find yourself in a situation in which you have fair number of existing customers which you call retained, but they're not very loyal to your brand. They're using you as part of a brand set. This is what I call Multi-brand Customer, so they use you sometimes, they use another brand sometimes, they may do so depending on what's available or easiest at a particular moment in time, or they may use your brand for some reason and, on a different occasion, for a different reason, use another brand. In this case, what you may want to do is a retention earned-share strategy where you want to increase the share of your customer's wallet. Again, you're not interested in expanding the category, you just want to get more of the brand set that they're currently using. This is very much of a comparative-competitive strategy, if you will. And what you want to do here is targeting a specific competitor…
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