Lec 06- Customer value and Role of AI in Value Delivery Process

Summary

This AI in marketing certification course module explores the role of AI in enhancing customer value and its integration into the value delivery process. It discusses the strategic and tactical aspects of marketing, emphasizing the importance of AI in optimizing operations and creating personalized customer experiences. The module also covers AI's impact on efficiency, process enhancement, and innovation across various industries, highlighting the potential for AI to drive value creation and transform business models.

Takeaways

• 📚 The course focuses on Module 6, which discusses the development of marketing strategies and plans using AI, emphasizing the role of AI in the value delivery process.
• 🤖 AI is increasingly important in marketing due to its ability to understand, attract, and retain customers by offering personalized experiences and real-time feedback.
• 🛍️ The value delivery process in businesses includes three phases: choosing value, providing value, and communicating value, which are crucial for sustained success.
• 🔑 Strategic marketing involves segmentation, targeting, and positioning to choose value, while tactical marketing uses the marketing mix (product, price, place, and promotion) to provide and communicate value.
• 📈 AI applications like computer vision, deep learning, and robotics process automation can optimize operations and reduce costs, leading to increased efficiency in the value chain.
• 🚀 Companies like JD.com have leveraged AI to improve operational efficiency, achieving a high percentage of same-day or next-day order delivery.
• 👟 Nike uses augmented intelligence to design customized shoes, demonstrating how AI can streamline the value chain from design to customer delivery within a short timeframe.
• 💼 AR Financial Services Group exemplifies the power of AI in the financial industry, serving a vast customer base with a fraction of the employees compared to traditional banks.
• 🔄 The value chain is a complex system of interconnected business activities that AI can help automate and manage more efficiently, reducing costs and improving decision-making.
• 🛠️ AI technologies are being adopted across various industries, with high-tech and telecom sectors leading the way, while traditional industries like construction are catching up.
• 🌐 Salesforce Einstein's use of AI to enhance sales processes and Stitch Fix's deployment of AI for understanding user preferences and stylist matching illustrate the diverse applications of AI in value creation.

Q & A

What is the main focus of Module 6 in the AI in Marketing certification course?

Module 6 focuses on 'Customer Value and the Role of AI in the Value Delivery Process', discussing how AI is integrated into the marketing strategies and plans to enhance customer value.

What are the three phases of the value delivery process mentioned in the script?

The three phases of the value delivery process are: choosing value, providing value, and communicating value.

How does AI contribute to the strategic and tactical aspects of marketing?

AI contributes to strategic marketing by aiding in segmentation, targeting, and positioning. In tactical marketing, AI enhances the marketing mix (product, price, place, and promotion) through personalized experiences, real-time feedback, and operational optimizations.

What is the significance of AI in optimizing operations within the value chain?

AI optimizes operations by improving efficiency, minimizing costs, and maximizing operational capabilities, which can lead to a shortened value chain, faster production speeds, and better inventory management.

Can you provide an example of how a company has used AI to improve operational efficiency?

GD.com, one of China's largest retailers, introduced AI to drive efficiencies in their operations, achieving a 92% same-day or next-day delivery rate for orders.

How does AR Financial Services Group utilize AI in its business model?

AR Financial Services Group uses AI and data from its core mobile payment platform to run a variety of businesses, including customer lending, money market funds, wealth management, health insurance, and even an online game that encourages reducing carbon footprints.

What is the role of AI in the value proposition and value chain strategy?

AI helps in creating value propositions that appeal to customers by understanding their needs and preferences. It also focuses internally on operations within the value chain, improving the efficiency and effectiveness of business processes.

What are the primary and support activities in a value chain?

Primary activities in a value chain include inbound logistics, operations, outbound logistics, marketing, and services. Support activities include procurement, technology development, human resource management, and infrastructure.

How can AI improve decision-making in the supply chain?

AI can analyze data to make better decisions about the purchase of materials, storage capacities, production plans, and more, leading to reduced costs and improved efficiency.

What are the three forms of AI-driven value creation mentioned in the script?

The three forms of AI-driven value creation are process efficiency, process enhancement, and product and service innovation.

What is the current state of AI adoption across different industries?

AI adoption varies by industry, with high-tech and telecom companies leading the way, while industries like construction have a lower level of AI implementation. This difference in adoption rates could potentially widen the AI gap between industries.

What are the five elements of the emerging technology landscape according to the IDEAS framework?

The five elements of the emerging technology landscape according to the IDEAS framework are Intelligence, Data, Expertise, Architecture, and Strategy.