Marketing can easily figure out the satisfaction criteria of the customers, market offerings and value of which customers are keen on. According to Kotler, P. and Armstrong, G. (2000), marketing investigates to attract more customers by adding the best of the value they need, offers advantages of having the product or service and enhances relationship providing value added services regularly. Targeting and capturing customers is one of the most difficult jobs for the companies, marketing strategy ease the way capturing the customers effectively. According to Lancaster, G. and Withey, F. (2007), to being successful, the companies have to be strongly market focused. 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.
This tendency motivates the customers to shop more straightforwardly, spend more money, and helping consumers to have a positive review about the organization thus increasing the organization competitiveness Loyal customers can act as key ambassadors for a particular brand or organization in the sense that they are more likely to recommend or purchase a product themselves. They often associate themselves to the organization in believing in their products and the superiority of their products. It is usually seen that loyal consumers are often willingly buying any products that their preferred organisations release. This proves that loyal consumers provide a key security for organisations as they know that their loyal consumers will stand by
Coldburn (2013) also showed that satisfaction and loyalty goes together. The author indicated in his/her study that as far as customers expectation of a products or services are met, they remain loyal to the organization. An increase in satisfaction then lead to an increase in a company’s profits (Cacioappo, 2000).Eckert emphasizes that loyal customers according to are more likely to purchase or to recommend the purchase of a company’s products and services to someone else. The opposite is also true. Dissatisfied customers are likely to tell others the experiences they had with firms.
This access to customer information will help employees to right away update and save relevant information for future interactions. Furthermore it will help professionals in charge of sales to successful obtain the required information before contacting customers. There are two types of selling used to improve sales which are benefited by CRM systems, up-selling and cross-selling. When the sales representatives find ways to sell an existing or new customer a better product, is called up-selling. Cross-selling is when sales representatives improve their sales by offering extra products (O’Brien, A & Ma... ... middle of paper ... ...s long as possible.
CHAPTER 1 INTRODUTION 1.1 INTRODUCTION TO THE STUDY Consumer or Customer satisfaction is defined as “the number of consumers or percentage of total consumers, whose reported experience with a firm, its products, or its services exceeds specified satisfaction goals”. Consumer satisfaction is how happy a consumer is with a product or service, both in the producer’s performance as well as the company’s delivery of the product to the market. In the midst of shift and fierce competition and increased number of retail outlets providing a variety of products, customers or consumers have become accustomed to patronizing multiple outlets. Retailers have recognized this trend and are of the view that customer or consumer satisfaction plays
Organisations should increase the number of products and services that add value for the customer and are profitable for the organisation, since it can ensure that the rewarding lifetime value of the relationship is maximised. The impact of existing market information helps to manage the relationship with customers effectively, and the linkage between marketing, communication and CRM must be strong. CRM adds information regarding marketing, sales and service functions through organisation process automation, technology advancements and information resources like market research institutions in order to maximise customer contact. Therefore understanding customers’ needs and purchasing behavior, effectively manage interaction which they have with a customer. These interactions can arise when customers interact with employees in the organisation through customer contact centres, but also through advertising and sales promotion activities.
Effective marketing involves strategic concepts. Some of which include how companies use marketing to Place, Promote, and Price their Products. More importantly, an understanding of the marketing concept, the marketing strategy, and the marketing plan is required for a company’s marketing efforts to be successful. The purpose of marketing is to identify customers’ needs, and meet those needs so well that the product almost sells itself (Perreault et al., 2014). When the marketing process performs well, the customer will be satisfied and buy again.
Customer often focus on quality of the product but now customer expectations are raised because of the competition in this retail industry where retailer focus on offering premium services by personally attending the customers. If the customer is satisfied by the services and product as well, gradually profit would be increased. As the customer is more satisfied, he may make a repurchase decision or through a word of mouth of satisfied customer, new customer are generated by their recommendations. Area- wise retail can also affect customer to repurchase the product as the retailer who satisfies the need of the customer is preferred more by the customer. Easiness to find the product, visibility, appearance also leads to customer loyalty and store loyalty.
Customer loyalty program specifically the reward program can motivate and encourage customers to base their purchasing decisions. Similarly, an effective loyalty program can encourage customers to make decisions that can maximize projected utility of the customers to the business. Customer loyalty program, under assessment is still successful in changing customer behaviour and in motivating customers to increase purchasing that leads to an increase of customer loyalty.
People are buying the product which gives them prestige. Marketers have interest on consumer psychology and they are playing with every day by showing that their product will give prestige in the society. It’s true that the transparent societies now needs brands image. Marketers analyze the interest and needs of consumer than create the product according to the need of the society. Brand can attain the people attraction and the business can have the good reputation by giving satisfaction to consumer.