The high customer relations have allowed the company to constantly provide and improve its product and service quality. This means that the company’s priority is quality for the products and services they offer to its clients. The quality culture has enabled the company to be successful in the retail industry with excellent customer satisfaction ratings (Pahl et al, 2007).
Customer is a King, it is true in real sense for the Business success in today’s competitive markets as it requires a high understanding and respect of the customer. Customers are demanding, have more money to spend and have a wide collection of goods and services to choose from. To satisfy the customers, retailers must be able to listen to their feedback and improve services and goods to keep of clients. Customer satisfaction gives an indication of how much successfully the organization is meeting the demands of customers. All activities of the retail chain stores are directed towards customer satisfaction which leads to customer retention--a pivotal factor for business growth.
It is also vital when aiming at reaching the corporate customers in order to offer them thorough information about the Prius (Krzykowski, 2011). Conclusion A monitoring and assessment team will be put in place to oversee the progress of Toyota in achieving the marketing strategic objectives. The short term objectives will be clearly assessed and where targets are attained, corrections are done since they help in realizing long term objectives. Presently, Toyota has ensured that hybrid vehicles are being manufactured, and so far the market has been developing in terms of overall reaction to these new brands of cars.
and 4) How do we serve our customers? The goal is to remain true to your organization 's purpose while simultaneously satisfying the demands of your target market. If your strategy does not accomplish this, your business is subject to misalignment. 3) Create a Product and Marketing Strategy A product strategy is simply an operating plan for the company 's product team; a marketing strategy is the plan to effectively market that product in an reasonable and efficient manner. When creating your product strategy, you should develop a business plan to aid in product investment decisions, utilize your market research to create high demand products, and, most importantly, ensure that your business is able to continually bring that product into the market place.
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.
Brand inventory provides up to date itinerary of how a company markets and brands its products. On the other hand, a brand exploratory is an examination undertaken so as to comprehend what consumers feel about the brand. It seeks to conduct a consumer insight research in order to acquire consumers’ feelings and perceptions. This paper looks into the brand exploratory aspect of auditing under the customer-based brand equity (CBBE) model. 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.
According to The Times 100(2014) market research involves gathering and analyzing information of consumers, competitors and market trends. Market research is essential for any business to stay up to date due to frequent change in market activities, businesses should have good understanding of supply and demand of the product they are dealing with. The main purpose of market research is to deliver a business with an extensive view of consumer needs so that products should be developed and services should be provided which can meet their needs. Doyle and Stern (2006) also state the role of marketing research in order to retain customers and fulfil their needs. Stability, development and profit of any business totally depends upon the ability of management to orient the organisation by meeting the needs of the customers.
This essay will explain what is meant by excellent customer service, outline an excellent customer service structure and give ways in which it can be maintained. It will also state the impotence of customer service to a business or entity. Customer service is used to set the direction for the business. In any organization customers should be first priority. Excellent customer service promotes customer satisfaction, employee motivation and gives the business a competitive edge among other businesses.
A business is feasible when it is able to generate profits, standstill despite of risks and achieve the founders’ goals (Hofstrand, 2009). In order to meet all of these achievements, the researcher need to investigate investment, technical market and commercial feasibility (How to conduct a feasibility study, 2015). In terms of Business model Canvas, the ‘customer segments’ component presents the market feasibility. Dell has targeted four main segments which allow the company to design, produce, promote and deliver different products with different features. In comparisons, the ‘value propositions’ contribute to the technical feasibility when the product is formed and advertised, ready to deliver.
You always want to be ahead of the competition and make your company stand out amongst the rest. Company 's should always search for the best talent, have great technology and products that consistently meet the needs of your customer base, which will give the company sustainability and longevity. Efficiency in your operational processes is key to keep operational costs at a minimum while creating more productivity. Efficiency and productivity lead to more profits, which give you the revenue to do the things you need to do to keep the business running. Extra money gives businesses the much needed income to invest in their human capital, provide a ROI for their investors and give back through philanthropic efforts in the