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WH Smith Business Analysis

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WH Smith Business Analysis

WH Smith main aim will be to provide a good service to all customers, while providing an acceptable return for its shareholders. WH Smith has a key phrase which WH Smith basis its business around, `Creating value for customers to earn their lifetime loyalty`. WH Smith listen to the customers needs better than any other business, as they provide an excellent service (customer service). This would help retain customers and gain a healthy profit. WH Smith has located each of these stores in an excellent location around the UK. While they gain customer loyalty by doing this they will also gain a steady income so they will be able to share some of its profits with its shareholders. However if they don’t make customer loyalty and gain a steady income, they will lose money and so will its shareholders. The shareholder of a WH Smith is always at risk of losing their money, which is why WH Smith offer a better return than that of a bank where the shareholder is at no risk of losing money.

Another of WH Smith ’s aims is to look after their customers as customers are very important because they provide income to the business. Also WH Smith need to do their best to deliver good products at a cheap price to their customers and the public. WH Smith aim to treat all their customers in an appropriate manner. By doing this WH Smith will gain customer satisfaction and lifetime loyalty. By treating their customer’s well WH Smith will also get a good reputation and also they may gain other competitors customers.

WH Smith also aims to understand their external customers needs better. Therefore, WH Smith carries out market research to find out the customers needs. They produce surveys and questionnaires for the customers to fill out. Using market research, they can see how their products may compare to other similar stores like Woolworths and which products the customers like the best. WH Smith also understands what customers aim to look for in their stores:

Good value products

Care and attention from employees working there

A good after sales service

Correct information about the product
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