The more customers they gain, the more profit them able to get. However, Maxis have to analyze their target market because some customer able to bring more profitable for the company. Therefore, Maxis should identify and notice which customer that they want to targeted. Measure: Customer Survey Customer satisfaction surveys are playing an important role in measures. Customer surveys are the most effective way to gain customer feedback and increasing customer loyalty.
Not only that, the benefits of a consumer Club Card can accumulate points and convert to certain items as a reward. Secondly, IT integration also factors that lead to Tesco 's success. IT is very important in business management. With the development of new technology will smooth and improve the system. For example, in terms of stock control, customer ordering systems, maintaining valuable
Customers provide revenue for the company thus making them have a stake on the company products and services they provide. According to Berens (2012), the stakeholder theory suggests that the company must consider the customer needs. Loyal customers provide a crucial and relevant insight of what a company or firms needs to do in order to satisfy the customer needs. It's through loyal customers that enable companies to retain and sustain competitive advantage. Thus very crucial to establish a relationship with the customers so as they can contribute their views and suggestions.
9) The sales of the company have increased relatively in 2013 but it is cancelled out by their exorbitant net loss. 10) Currently, share price also has fallen down from 17$ to only 0.56 cents leading to the company to lose more than 80% of its share value. 11) In the first quarter of 2014, net sales came down to 137.1 million USD and Gross Profit came down to 72 million USD compared to the first quarter last year. This impact was due to heavy competition. 12) About the Apparel industry in general, it has been highly volatile and inconsistent of late.
While companies often view such point-based programs as a fast way to enhance profitability by inducing customers to buy, they are finding that there is a much greater value provided by loyalty programs: the collection of information from program members. Companies can then use this data to develop a 360-degree view of customer interactions and determine how best to tailor process enhancements by segment – particularly for high-value
Market Orientation According to Naver and Slater (1990), market orientation is one of the organizational cultures which will lead to high performance of a business. This is because the business is able to provide customer superior value with lead cost and time. Market orientation includes customer orientation, competitor orientation and interfunctional coordination. Market orientation will lead to new product performance whether the new product is achieving customers’ expectation or out performing than their competitors (Zhang & Duan, 2010). From Zhang and Duan’s research (2010), market orientation is important than innovation orientation, because customers’ expectation was studied and innovation of new product was built according to customers’
Explained in a detailed perspective, companies normally take advantage of advertising in order to get their potential customers informed of the characteristics and features of products or services (). Dunn (1995) hold a view that advertising is a magical tool to appeal customers to a brand as well as maintaining the number of customers during some sluggish selling periods.
Processes that CYFOR use to Develop Markets For the purpose of ensuring growth and development of business, CYFOR pays attention to some of the following processes to develop markets: • Implementing effective initiatives and strategies in order to retain customers/ messages related to product life cycle is also sent to both active and inactive consumers so that awareness about the brand can be increased • The company also adopted process of inspiring increased demand from prospective customer base for developing markets for the brand (Jiang, et al., 2012) • Analysing the competition is one of the most important processes that are used by CYFOR for developing markets. It is the significant process that can be used by the organisation because it provides them an overview about the substitute products and about the competitors that can impose threat on the growth and development of the company • Creating integrated marketing plans as well as relevant tactics is another process that is used by CYFOR for developing market. With the help of effective marketing plans, the organisation is able to determine the areas that need consideration in relation to other
The used of Unilever’s portfolio of categories, channels and geographies is to discover the growth and profitability throughout the period of time. Hence, Unilever Plc should make best investment decisions. Customer Relationships Successful customer relationships are vital to their business and continued growth. Maintaining strong relationships with customers is necessary for Unilever brands to be well presented to their consumers and available for purchase at all times. The strength of their customer relationships also affects their ability to obtain pricing and secure favourable trade terms.
The most important skills required in a marketing job are mentioned in the report with the advantages they have so as to make a person have self and job growth. Transferable skills are skills that help you move into and exceed expectations in a new career. They guarantee you expert strength and the long life span of