The frequent shopper program can become an effective tool in the attraction and retention of loyal customers. Rewards that can be traded for luxury items will have a great influence in customer loyalty and attracting new customers. A positive response from the public is important and in order to ensure that response, Kudler Fine Foods must find and develop a proactive way to approach the public’s privacy concerns. Preventing conflict with consumers regarding personal data and how it will be used is simply fixed by keeping the consumers aware of just how it is being used. The number one concern for Kudler Fine Foods must be security and privacy of their consumers’ personal
Kudler should have a clear idea of what the data is to be used for and how it is to be treated. “Sure, a customer database has value, and a company can maximize that value in any number of ways -- growing the database, mining it, monetizing it. Marketers can be tempted, despite pledges about privacy, to use collected information in ways that seem attractive but may ultimately damage relationships with customers.’ (Davenport, et al, 2007) It is important to their success as a business that Kudler Fine Foods maintain their relationship with their customers. And by this they should maintain positive relationships with all of their customers. “Market analytics allow companies to identify their best and worst customers and, consequently, to pay special attention to those deemed to be the most valuable.
A competitive marketing intelligence analysis is necessary because much can be learned from the competition’s successes and failures. This type of analysis is not, however, limited to the just the competition. The text, Marketing, defines competitive marketing analysis as the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment (Kerin, Hartley, & Rudelius, 2011). When collecting data and in order to make reasonable decisions, it is important to predetermine many
It also provides customer support in the form of consulting to these customers. HubSpot has reached a point where the company can provide limited service to a diverse set of customers thus needs to consolidate and target a specific group which can provide highest utility for its efforts. HobSpot should consider the expected Consumer Lifetime Value while selection of the target markets and should consider various ways to maximize it. Key implication of narrowing the target market is better service to the customer which will result into increased retention rates. As we know increase in retention rate in the customer segment has a significant positive effect on the CLV.
The customers displayed the overall cost of merchandise is a bit high. They do appreciate the loyalty and bonus programs, but achieving these loyalties and bonuses should not cost so much. Kundlers foods could experience an increase in customer satisfaction if they slightly reduced the cost of their products and services. Market research is a very important part of an organization's strategy to implement expansion and variation. Part of this research must include the competitor’s strategies.
The job of a salesperson ranges from order takers to order getters. Personal selling is the key to developing strong relationships because it is directed toward achieving mutually satisfying results between customer and seller, which will sustain and enhance future interactions this is very important because it is a lot cheaper to retain current customers than to attract new ones. However, “In a results-oriented environment, the foundation of many compensation systems, sales quotas can focus sellers and managers in a direction inconsistent with customer-oriented selling.”(“Evans”,
Sometimes, the staff exchanges the product with a different size that is suitable for them and whether it makes them happy. In addition, Primark is an outstanding retail company, so the customers would want their staff to have good product knowledge, someone who knows the idea of what they customers like and don’t like. So therefore, it benefits the customer to trust the staff and they would have a good understanding with negotiating with the offers such as ‘sales reduction, which is quite useful in a business. How effective customer service benefits the organisation Great customer service makes your customer feel that you care about developing in long term relationship that means you are not only make more sales, however it does benefit the business in different ways , such as : Repeat
EXECUTIVE SUMMARY As members of the finance and pension committee of Union Carbide Corporation's board of directors, we have questions that after being answered will aid in our basis for our final proposal decision. These questions will help the committee to dive deeper into our understanding of the proposal and will hopefully aid in some of our reservations to the proposal. Such questions involve the specific costs/benefit analysis of the proposal, how it will help with our business' cyclical nature, and overall how it will increase shareholder profitability. The objectives that UCC put in place are successful in that they focus on the goals of the company. These objectives include creating a normalized portfolio and a measurement system that can keep costs down.
Keller (1998) view on brand equity suggest that brand equity occurs when consumer response to marketing activity differs when consumer know the brand from what they do not. Mallik (2009) it can be calculated by comparing the anticipated potential or future income from the branded product or service with the anticipated or future income from non-branded similar product or service. Brand equity can be positive or negative, positive brand equity is often when a company exceeds their costumer expectation. It formed by past efficient and successful advertising. Negative brand equity is created by usually bad management.
Ryan R. Montenid November 8, 2014 Strategic Management Dr. Gloria Chavez Competitive Advantage: Resources, Capabilities and Competencies Case: Marks and Spencer 1. What do you think is the source of Marks and Spencer’s competitive advantage? M&S believes that customers are the essential element of consideration and understands that customers are very important for its origination. Companies must recognize that customer satisfaction should give utmost importance than product sale. M&S realizes this main attribute and provides good services and high quality products to customers for elevating customer loyalty.