Mkt 421 Week 3 Data Collection

Currently the company sells (exports) to restaurant owners and speciality food retailers (B2B). In order to increase their level of sales the company would like to diversify its target market and start targeting individuals (B2C).

In both markets a good customer database and its proper use is a significant asset that most of the time gets under valued at most companies. We shouldn’t measure our success by the number of people on our database but the real value come from the quality of the information that is tracked.

The information that needs to be gathered is the information that we as a company need to use.

My Data collection recommendations would be:

• Name / Surname

• Postal mail

• E-mail address

• Company address

• Phone number

• Mobile

It is creating a dialogue with customers and potential customers. There are various ways to use interactive marketing such as search engine marketing, video marketing, email marketing. Building a competitive web presence is very important. Engaging the customer. We can create blog and update it regularly. This way we can communicate with our customers or potential customers about our products. We also can gain the trust of other bloggers and encourage them to write about our products, in this way it will increase more awareness about our company and

What our company needs is an increase in customer lifetime value. We can do this by building long term relationships, creating strong brand loyalty, using the right incentives to attract new clients and incentivizing current customers to retain them and offering superior customer service.

To build strong term relationships the company has to stop thinking short term, but focus on long term lasting customer relationships. We have to be honest; although our main job is to sell we should not treat our customer as pay cheques. This might be a great way of increasing revenue from existing customers without increasing expenses.

Keeping our products at high quality is essential for brand loyalty, it increases customer lifetime values because it encourages trials of new products. All this has to include an outstanding customer service.

Communication with customer and potential customers is essential. We have to continually keep in contact with our customer. Raising awareness and educate them on potential