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Factors influencing customer loyalty
Introduction on ethics
Factors influencing customer loyalty
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Carter’s, Inc. Final Review
Ethics in a business is a very important issue, especially in marketing. Customers want to be informed of products and their qualities, but they also want the information to be truthful. The purpose of a marketing department is to communicate products to potential customers so that they will be more inclined to purchase the product. This is where ethics comes into play. If a company makes their product look more desirable than it is, it is very likely that the consumers will be disappointed in the product. This could result in pushing customers away and might boost sales initially but they will drop off quickly. “Not employing ethical marketing practices many lead to dissatisfied customers, bad publicity, a lack of trust, lost business, or sometimes legal action,”(E-notes. n.d. para. 3). The key is to display the product with an appeal that will sell the product and not stretch the truth. This will gain a trust with the target market and result in loyal customers. Carter’s, Inc. has achieved this trust with-in its market. They market cute infants and toddlers wearing their clothing and because their product meets parents expectations they have gained a loyal customer base.
The first step for any company to be successful in Customer Relationship Management (CRM) is to research its customers. They need to understand the demographics, wants and needs of their customers to be able to build a solid relationship with them. The easiest way to do this is by using surveys, small focus groups, and other forms of feedback from consumers. Another very helpful way is to set up a brand community. Carter’s does not have an active brand community, as far as my research has shown, but it could further help with their...
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...company. After this occurred I am sure the marketing department had to work overtime to soothe the fears of customers and regain the customer loyalty that was lost. Although they must have done a great job because Carter’s is still the number one largest children’s clothing maker in their market. Despite the good and bad situations I found while researching, I am still a satisfied customer of Carter’s Inc and I will continue to buy their products.
References
Carter’s, Inc. Website (2012). Retrieved from http://www.carters.com/Corporate-Site-Community-Landing-Page/corporateCommunity,default,pg.html
E-notes. (n.d.). Ethics in Marketing. Retrieved from http://www.enotes.com/ethics-marketing-reference/ethics-marketing
Hyatt, M. (2009, September 16). The Total Customer Experience (Web blog). Retrieved from http://michaelhyatt.com/the-total-customer-experience.html
Senior leadership can have a clear and accurate assessment into their internal customer-facing organizations and activities (Jacewicz & June-Suh, 2015). The Senior leadership strategy of REI can use the CRM as a tool to remain close to the consumers, especially by offering a social networking component to their CRM implementation. The social networking allows the company (REI) to become part of the conversation and track future trends and desires of the consumers. Today’s CRM applications are evolving into social customer relationship management systems (SCRM). The SCRM concept is a great fit for REI, with the REI mission to provide customers with best outdoor gear, the SCRM can be used by the business for creating a collaborative customer experience (Jacewicz & June-Suh,
Having promotional activities such as discounts, free-shipping on online purchases, and bold advertisements are not sufficient to put A&F at the top of the iceberg. Several improvements to the brand as well as customer service have to be done. As keeping existing customers is cheaper than getting a new one, A&F needs to build brand resonance with its customers, whereby consumers can engage actively by investing time, money, and other resources, feel a sense of community as customers are made to feel affiliated with the brand, express attachment to the brand whereby consumers “love” A&F, and last but not least, convey behavioral loyalty through repeat purchases. Loyalty programs can be added to A&F’s plan in rebuilding its brand image, and
First, customer centricity is important to channel customer centricity into their company strategy. It will get the whole workforce on track. Next, the collection should keep their customer data up-to-date. They would benefit from building a stable foundation by bringing all of their current customer contacts. The brand should also save all documents including minutes-of-meetings, emails, offers, contracts, and every payment transaction. Then, the company should establish healthy customer relationships based on their customer profile. It is always important to follow-up on customers and to make sure they stay satisfied with the merchandise. Finally, it is all about the customer. Their response is very important. It is viable to surprise and impress their customers, as well as plan and implement multi-phase marketing campaigns(CAS
Consumer purchasing decisions and behavior is continuing to change, not just in the U.S. but worldwide, shifting more away from the department store and onto the web. In such a changing environment, customer relationship management (CRM) becomes more important than ever, especially to a company such as Nordstrom who is the gold standard of customer service, the measuring stick by which other companies measure themselves (Spector & McCarthy, n.d.). The key for Nordstrom will be to adapt their traditional core strength, intimate and personalized customer service, to this new environment.
The abovementioned process is influenced by the commoditisation of products and blurring of consumer's own perceptions of the companies' offering. In order to differentiate and position their products and/or services today's businesses employ advertising which is sometimes considered not only of bad taste, but also as deliberately intrusive and manipulative. The issue of bad advertising is topical to such extent that organisations like Adbusters have embraced the tactics of subvertising - revealing the real intend behind the modern advertising. The Adbusters magazine editor-in-chief Kalle Lason commented on the corporate image building communication activities of the big companies: "We know that oil companies aren't really friendly to nature, and tobacco companies don't really care about ethics" (Arnold, 2001). On the other hand, the "ethics and social responsibility are important determinants of such long-term gains as survival, long-term profitability, and competitiveness of the organization" (Singhapakdi, 1999). Without communications strategy that revolves around ethics and social responsibility the concepts of total quality and customer relationships building become elusive. However, there could be no easy clear-cut ethics formula of marketing communications.
This paper discusses Customer Relationship Management objectives, strategy, and tactics of Kroger, Inc. Kroger, founded by Bernard Kroger in 1883 and currently operates over 2500 supermarkets in more than 30 states. Managing customers is top priority for this company and is much of the reason it is the top grossing supermarket chain in the country.
The company has established good relationships with most of its customers which has assisted it to create high level of brand and customer loyalty
However, many businesses, as well as famous brands that people use, do not have good business ethics. Many busi...
For instance, when we are talking about the pharmaceutical business there strict ethical regulatory guidelines on sales. " The Pharmaceutical Research and Manufacturers of America, issued a set of guidelines for its member companies to follow when it comes to the relationship between drug reps and doctors. The voluntary code significantly changed how drug company representatives interact with doctors. Changes range from restricting gifts to limiting consulting contracts offered to doctors." These regulations affect a company like SOBI, it pushes them to strive for ethical behavior. This particular regulation affects corporate strategy directly. SOBI has to make sure they inform and educate their sales staff in ethical behaviors. Their brand must remain ethical in order for them to maintain the reputation of putting patients first, not their material
It is just as much about supporting the good businesses and goods, as it is about retreating support from the bad ones. An ethical customer will help in providing statistics one needs to make an informed decision about acquisition. However, negative ethical buying performance or refuse has been considered as the key form of ethical consumerism. It means avoiding goods that are unethical. Therefore, an informed customer would only choose goods that reflect moral responsibility (UKessays,
Consumers are quite touchy when it comes to business who practice business ethically and that only yields into higher sales and profits. Also they generally tend to endorse such brands or the company.
Customer relationship management They have determined the key factors in maintaining and building. their relationships with customers are to provide a problem free experience at their hotels and restaurants and to give each customer personal recognition. Their strategies to build these relationships. are the same as those employed to build their business, they are tied. to each other. They are currently developing a Group-wide Guest History network.
Customer relationship management systems are part of enterprise applications. These systems are used to help manage relationships with customers, Information is provided to coordinate all of the business processes that deal with customers in sales, marketing, and service to optimize revenue, customer satisfaction, and customer retention (Laudon & Laudon, 2012).In today’s world, customer management relationship systems have given companies a large list of ways to interact with customers. Even though those ways are applied occasionally, companies still find even newer ways to provide customers an enjoyable experience for their products and services. Today, the customer relationship management industry is mainly focused on components, such as crowdsourcing, customers using mobile apps of companies and interaction from the social media teams of companies. Needless to say, Starbucks, coffeehouse chain, have pioneered in this system. Starbucks started out as a café in Seattle, Washington in USA at1971. One day, in 1981, a man named Howard Schultz entered in the café for the first time and fell into homelike environment of the café. He adored the place so much that, in 1987, he and a group investors acquired the café. From there on out, as of June 28, 2015, they have built more than 24000 stores in 70 countries
At Coca-Cola, customers are at the heart of everything they do. Customer preference is a core value of their business. This means building true partnerships that create sustainable value and profitable growth for their business and their customers across all key channels. By finding new ways to win together in the marketplace, they aim to be the preferred supplier to all of their customers. To achieve this, they have adopted a comprehensive set of initiatives designed to build collaborative customer relationships and ensure excellent execution.
Proctor and Gamble (P&G) was formed by William Procter, a candle maker and James Gamble, a soap maker. William and James joined forces and created P&G, a Fortune 500 company in 1837. Proctor and Gamble’s headers are located in Cincinnati, Ohio. P&G manufactures a wide variety of consumer goods which include beauty products, household products, and health and wellness products. P&G has an extensive history of providing a value-driven and ethical workplace culture. Product globalization posed threatening issues to their success during the early nineteen-nineties. Company leadership determined that it was necessary to change the workplace product development model in order to remain highly competitive in the global market. P&G already had a reputation of treating employees fair, including being one of the first companies to introduce profit sharing, employee stock ownership, and proactive employee retention and preferred internal promotions. The company also had a reputation for being innovative in product research and development by utilizing the latest technologies and focusing on the consumer demands. However, the business was structured by brands and the information and technology associated with them were individually organized which created silos of information. The information wasn’t openly shared across brands because of a fostered internal competition between them as well as protecting information from competitors.