Therefore, the company should ensure that all the staff members are highly qualified so as to boost the confidence of the customers. In conclusion, the customer- based brand equity model is an important platform that may help in building a strong brand. It could assist a company in assessing its progress as well as providing a blueprint for marketing research activities. If properly planned and implemented, it could help the company in achieving its marketing strategies and in the realization of an increased profit margin (Grover & Vriens 2006, p. 147). .
Customer retention is ... ... middle of paper ... ....N. (2002), “The future of relationship marketing”, Journal of Services Marketing, Vol. 16 No. 7, pp. 590-592. Smith, D.C, (1996), “Do it all’s loyalty programme- and its impact on customer retention”, Managing Service Quality, Vol.
The company has the main objective of offering superior quality products and services to its clients. This means that the company has the role of ensuring that its customers get quality services and products they offer thus leading to customer satisfaction. In addition, the company has effective cost leadership strategies with well-established distribution chain and logistics. This has enabled the company to be leading Retail Company in the world that has high customer satisfaction rating. In terms of management approach, the company has established management culture that envisions effective leadership where management is nurtured.
Customer- Based Brand Equity (CBBE) Model Building and enhancing a strong brand has been found to have profitable rewards in business, it has therefore become a prime priority for many firms. Customer-base brand equity (CBBE) is a model that has been adopted by Cadbury in order to build a strong brand that can compete with the other ones in the market. The company has followed the four steps of the model. The first step involves the establishment of appropriate brand identity, which includes enhancing customer awareness of the brand. The second step deals in creation of proper brand meaning through powerful and unique brand connection with the customers.
Effective reward management is critical to organisational performance Being rewarded and recognised for their work or contribution is what keeps an employee motivated to work towards achieving the organisational as well as personal goals. When the employees is motivated by rewards, they will have job satisfaction consequently increasing the productivity of the organisation. It necessitates the need of managers to pay more attention in understanding their employees and come up with suitable types of reward systems for the organisation so that the employees are intrinsically and extrinsically motivated all the time. The hypotheses that I put forward here is to support this statement that effective reward management is critical to organisational performance as it helps in enhancing operational efficacy and in turn production output. Allen, Takeda, White, & Helms (2004) state that reward practices play an important role in motivating employees and some reward practices are more effective than others in influencing performance.
Stamford: Cengage Learning. Massingam, L., and Lancaster, G., 2010. Essentials of Marketing Management. Oxford: Taylor & Francis. Neves, M. E., Castro, L. T. E., and Consoli, M. A., 2010.
Marketing builds relation with customers providing superior customer value and attracts them providing value added services as well as increases the number of potential customers in a regular basis. Marketing understands the customer needs, designs a superior strategy based on need, want and demand, builds strong relationship with the customers and capture value from the in return. Marketing creates customer loyalty and retent... ... middle of paper ... ...rvice. In fact, Sheila reckoned the market factors very importantly to her marketing plan. A better understanding of the market information can be useful for the successful marketing plan.
Evaluations of desired behaviour helps organisations to retain goal alignment, or improve where need be. Fiorenza (2007) found that the evaluations programs that are created with direct input from employees and managers tend to be the most successful systems used, as they increase ownership and commitment. Growth and acquaintance of new skills is enhanced, individuals get to learn and know where they need improvement (Mujtaba, 2008). Aguinis (2012) argues that by inclusion of self- appraisals in the performance assessment can be beneficial in a way that employee satisfaction with the PM system increases also enhancing perceptions of justice and accuracy, thus acceptance of system. This can be the reason why the interviewee found it to be a fair practise that the company ensures recognition to individuals that outperform the desired target of cases.
They truly have a vested interest in their followers bettering themselves in order to become more valuable workers. Often, due to their obvious efforts on their team members’ behalf, close relationships are developed as a result. Transformational leaders focus on the behaviors of their group. The leader himself behaves in a specific way in order to motivate his employees to emulate his illustration of how good employees conduct themselves. It is of the utmost importance that a transformational leader has a high level of emotional intelligence.
When the marketing process performs well, the customer will be satisfied and buy again. In order to ensure the marketing process does well, the marketing manager should have a good understanding of the marketing concept. The marketing concept refers to a company aiming all its efforts to satisfy its customers. Companies must use a total company effort to satisfy customers. Total company effort includes a company offering superior customer value to attract customers, satisfy those customers, and retaining those customers.