Management Development Institute Od Singapore

Published: 2021-09-10 11:15:09
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Category: Business

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[pic 1]MANAGEMENT DEVELOPMENT INSTITUTE OD SINGAPOREBuilding the right relationships with the right customers- The North FaceName                        : Lim Yi XianFin NO.                : G1503952WCourse                : Advanced Diploma in Business ManagementModule                : Marketing ManagementLecturer                : Mr. Roland KiewContentsIntroduction        The North Face        Customer-Focused Strategies        Market Segmentation        Target Market        Market Position        The Marketing Mix of The North Face        Product and Customer Solutions        Pricing Strategies and Consumer Cost        Promotion Strategies and Customer Communication        Place Strategies and Consumer Convenience        Conclusion        References        IntroductionCustomer plays an important role in the business cycle. Without customer an organization will not be able to survive and not even mention about making profit. In order to make profit, companies must always satisfy their customer. It is necessary for every organization to create a customer focused culture. There are numerous reasons why more and more organizations are using the customer-focused strategies. The simplest of these is that it gives them a better understanding of the customers’ needs and wants. To reach the pinnacle of success, companies must first be more focused on delighting customers and then on making profit. When the customers are happy, they will keep buying from the companies. It is a key indicator of customer’s repurchases intentions and their loyalty. Repeat customers mean more profits from the same person. The organization can spend lesser money and time to find new customer. The satisfied customers will also recommend the product to the people in their life; this will boost the company’s reputation. Employees play a vital role in customer-focused strategy. According to the book “Essentials of Marketing” by Charles W. Lamb; For example, your customers might only ever interact with one person from your organization, meaning the quality of a customer's experience depends on the actions of one member of your staff. Any employee who fails to represent your customer-oriented values jeopardizes your overall business strategy. It is important to ensure that every employee is on the same page when it comes to providing customers with a satisfying experience.

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