Yahoo! lost its brand image, they managed to make their way, into a “confused state of affairs”, rather than, having a framework, in understanding the upcoming trends, within the Eco-system.
“To grow, make new stuff or find new peeps”- Iacobucci
Was Yahoo! short-sighted?
The Apple co-founder Steve Jobs reportedly told Yahoo!, early in the millennium that it had to decide whether it was a tech company or a content company.This was a profound point, something Yahoo never accomplished.
It was important for them to address the following:-
1) How and why are customers changing?
2) What new needs do they have?
3) What are competitors doing and how can we get ahead of them?
We know who let the dogs out!!
Our theory is, if you need the user to tell you what you’re selling, then you don’t know what you’re selling, and it’s probably not going to be a good experience. –Marissa Mayer (CEO)
Customer is KING, the true adage of marketing, in the scheme of 5 C’s it’s the “CUSTOMER”, that comes first.
Being customer centric keeps you five steps ahead of the competition.
Yahoo clearly misread its Marketing Framework: 5C’s, STP and 4P’s
Marketing Strategy-“THE UNTOLD STORY”
Yahoo!, a social media giant in 1994, had its strength, having captivated, largest audience on the internet, vaguely they capitalized on a weakness, a Ponzi scheme of over-valuing their advertisement rates, instead of focusing on the opportunities with innovative products like mobile apps, navigation, search engines and social networking mediums,they OUTSOURCED IT ALL, and experienced fall in revenue from threats like Google and Facebook. Brutal Decline of Yahoo!
Should Yahoo!, Google- Treacy and Wiersema Strategy?
- Operational Excellence – The term “operational excellence” describes a specific strategic approach to the production and delivery of products and services.
- Customer Intimacy – Those pursuing a strategy of customer intimacy, continually tailor and shape products and services to fit an increasingly fine definition of the customer.
Product Leadership – Companies thrive to produce a continuous stream, of state-of-the-art products and services.
WHAT IF BRANDS INNOVATED, BY CONNECTING WITH CONSUMERS- THEY WOULD NOT MISS THE SOCIAL REVOLUTION BY “WORD OF MOUSE”
- Iacobucci, D 2013, Marketing Management (MM4), Student Edition, South-Western, Cengage Learning, Mason, Ohio