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Reflections Paper Flip the Funnel - Admission/Application Essay Example

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In his book, Flip the Funnel, Joseph Jaffe presents the reader with something of a paradigm shift from the way in which traditional marketing and sales have been carried out since the inception of business marketing and a renewed focus upon customer engagement…
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Reflections Paper Flip the Funnel
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Download file to see previous pages Further, as a means of illustrating how Jaffe’s approach differs from the traditional approach, the analysis will consider the old paradigm alongside the new one put forward by Jaffe as a means of providing the reader with an informed understanding of the differentials between the two as well as a brief discussion of the strengths and weaknesses of both. Naturally, as one might assume, the strengths that Jaffe denotes for his own paradigm necessarily outweigh those strengths that exist within the old funnel paradigm; likewise, the same can be said to be true for the relationship that the weaknesses have to both of these approaches. In addition to merely discussing the means by which Jaffe promotes a new model, the analysis will also focus upon some of the means by which a firm might seek to engage in this model as a means of promoting further sales and engaging current and past consumers with a greater degree of self-awareness and satisfaction. Firstly, with regards to the old paradigm, the reader can come to understand this as a funnel shaped convention by which a large level of money is expended at the very top of the funnel as a means of generating awareness, this awareness then hopefully translates to interest which is then translated to desire, ultimately leading to action on the part of the individual consumer translating to sales. This process, that has been defined, is one that requires a great deal of initial investment and integration with the consumer that is not guaranteed to have any ultimate effect in the end. In such a way, Jaffe argues that this approach ultimately wastes billions of dollars each and every year on marketing to a wide audience that ultimately will not integrate with the given product whatsoever. In short, cash strapped firms are throwing away valuable resources marketing to demographics and individuals that have little if any use for the products that they offer and ultimately will not purchase them even if marketed to effectively. As Jaffe denotes, this funnel shaped approach seeks to increase consumer satisfaction at each successive stage of the decision matrix which is been provided (awareness, interest, desire, and action). However, realizing that such an approach is wasteful and does not help to further the particular needs of a growing business through representations of consumer integration and wise marketing, Jaffe proposes a complete shift away from this paradigm. By flipping the final, Jaffe presents the reader with a situation in which a far smaller amount of money is necessitated to be spent as a means of affecting a greater level of profitability and self sustainment/satisfaction on the part of the consumer. According to Jaffe: “This is all about growing your business while shrinking your budget; about getting more from less at a time when business needs and even demands it. It is about eliminating waste, and focusing dollars on the people who really matter: your customers. It is about harnessing the hidden potential of two incredibly under-utilized constituencies: customer evangelists and employees. We begin with this in mind: an economic boom in the form of more business. During trying times, our opportunity does not come from cutting costs, mitigating risk, or trading off quality for quantity. It instead comes from ramping up our investment and commitment. So why don’ ...Download file to see next pagesRead More
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