A paper which explores how a company strategically changes from a traditional marketing approach to customer targeted marketing.
Essay # 23596 |
2,495 words (
approx. 10 pages ) |
10 sources |
APA | 2002
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$ 45.95
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Abstract
In today's society it is critical that every business possesses a strong marketing plan that incorporates the best interests of the firm in order to promote profitability. This paper shows that in the wake of the volatile economic conditions that the United States is currently experiencing, it is increasingly important to concentrate marketing efforts towards the customer rather than the traditional brand-focused arrangement. This paper provides insight into the traditional and customer targeted marketing plans and how they work in organizational efforts to increase profitability. Furthermore, an analysis of the need for customer-focused marketing is established. Finally, a viable transition plan is determined and evaluated for its feasibility in the achievement of growth and the sustainability of a firm.
From the Paper
"In many firms, it is often believed that the primary key to success in the marketing area is to establish a strong recognizable brand or series of brands that promote customer interest in the product because a strong brand image denotes quality and longevity. For example, the Martha Stewart brand of home decor products has been very successful since its inception and promotion at Kmart stores throughout the United States. However, it is only natural that this brand interest will eventually wane with the onset of new products and unique marketing efforts raised by other firms. Much of this activity can be attributed to the relative ease of starting new businesses for new entrepreneurs and the amount of capital available for promoting growth and sustainability. As a result, it has been determined that the Martha Stewart brand requires a boost in order to sustain its image and profits. The brand is already recognized and is synonymous with the Martha Stewart television show and magazine. However, in order to enhance customer relationships, new strategies must be developed that will deliver value to the franchise and optimize and leverage the customer base while simultaneously extending the brand image (Davis 10). These activities will provide a new direction for the firm to promote its quality and attractiveness to a new and existing customer base."
Tags:Martha, Stewart, Martin, Christopher
A review of selected literature on the topic of customer centricity and customer retention.
Research Paper # 114521 |
6,303 words (
approx. 25.2 pages ) |
10 sources |
APA | 2009
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$ 88.95
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Abstract
Based on ten books written on the subjects of consumer behavior and customer service, this paper sets out to show whether customer centricity has been the focus of businesses for some time, and whether it has been addressed correctly. The writer explains that the study of customer retention information shows that what it takes to keep customers coming back is quite different from what it takes to attract new ones, and discusses various types of customer loyalty programs. From the literature four specific areas that need to be examined in order to help businesses improve customer focus are identified, as well as six factors that are often seen as imperative in improving customer retention, and five specific dimensions of service quality. The paper concludes that although most studies have indicated that retaining old customers is what really boosts business growth, many businesses still persist in spending more to get new customers who will cost them money by leaving, instead of spending less to retain loyal ones.
From the Paper
"It is significant to remember when looking at customer centricity that people seldom stop patronizing a business simply because of ordinary interactions that they deal with when they shop there but instead because of the failure of the specific organization to handle situations that could be potentially problematic to the satisfaction of the customer (Bowen & Lawler, 1992). Personnel who come into contact with customers need to be able to think for themselves, take responsibility for their actions, and respond well to the pressure that often comes from customers who are angry or upset (Bowen & Lawler, 1992)."
Tags:success, customer satisfaction, effective personnel, problem solving, performance coaching communication
Research concerning customer satisfaction in Chinese realty.
Research Paper # 75060 |
12,100 words (
approx. 48.4 pages ) |
43 sources |
MLA | 2006
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$ 140.95
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Abstract
In recent years, researchers have contributed different causes as responsible for the success of a country's economic system, and as a result, differing models for economic growth suggest multiple possible paths for success. The world is changing fast, and China is now an important part of the global economy. One of the aspects most notable in China's economy is the rapid growth of the real estate industry. To date, while there has been much research conducted in marketing and customer satisfaction in general, the research concerning customer satisfaction in Chinese realty is lacking. New research studies in this area must focus on whether or not it is suitable to implement customer satisfaction into the current real estate industry in China. This research focuses on two studies measuring customer satisfaction in the real estate industry, discuses the implications of the data results, and offers recommendations toward much-warranted improvements in this area, if China is to continue at its current intense growth pace.
Abstract
Executive Summary
Introduction
Statement of the Problem
Literature Review
Background and Methodology of Proposed Research
Design
Proposed Data
Collection
Research Findings
Future Research
Conclusion
Bibliography
From the Paper
"In recent years, the value of Chinese realty has undergone many changes and periods of substantial growth unprecedented by previous growth patterns. As a result, one could theorize that real estate consumers' expectations and requirements have increased as a result of this heightened growth. To date, while there has been much research in marketing and customer satisfaction in general, the research concerning customer satisfaction in Chinese realty is lacking. Research such as this is crucial in determining whether or not it is suitable to implement customer satisfaction into the current Chinese realty business. Customer satisfaction is an essential factor in marketing practice, as satisfaction is a person's feelings of pleasure or disappointment resulting from comparing a product's perceived performance (or outcome) in relation to his or her expectations (Kotler, 2003). According to Drucker (1954), the principal purpose of a business is to create satisfied customers. Similarly, increasing customer satisfaction has been found to lead to higher future profitability (Anderson et.al., 1994). In order to maintain this substantial growth in Chinese real estate, customer satisfaction must be increased, or at the least, maintained. Research by Rust et.al (1997) supports this standard by relating lower costs to defective goods and services. Due to the increasing competition existing in the Chinese realty business, customer satisfaction has become one essential point from both the customers' goodwill perspective and an organization's profits."
Tags:economic, growth, real, estate, development, guanxi, urbanization, market, orientation, customer, satisfaction, loyalty, intentions
A discussion of customer centric as opposed to product-centric business approaches.
Comparison Essay # 96650 |
3,337 words (
approx. 13.3 pages ) |
14 sources |
APA | 2007
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$ 57.95
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Abstract
This paper examines the success of companies that shift from being product-centric to customer-centric. In companies that have a customer-as-king philosophy growth has been remarkable since adopting that outlook. Companies that focus on creating great products lag behind in the marketplace. 3M is used as an example of a company that changed its direction to customer-centric. The paper cites several articles that confirm this phenomenon. The paper concludes that companies that grasp the notion that business should be built around customers, not products, are setting themselves up for success.
Outline:
Resistance to CCS/CRM
Customer Relationship Management
CRM Origins
CRM Technology
Summary
From the Paper
"Beyond that problem, the basic problem with 3M's Web site was that it was concentrating all its "internal silos" rather than on "its customer's needs." So, 3M got synchronized, and now presents a more "unified fact to its customers" by storing all "customer relationships and product configurations" in a single database. This transformation from the awkward presentation of products and slipshod system of customer record keeping - similar to what Thompson Financial did - is called moving from a product-centric company to a customer-centric company. Instead of finding "customers for its products," both these firms (and untold hundreds of other companies) now concentrate on finding "products for its customers," Sawhney writes."
Tags:business, customer, centric, product, centric
This paper looks at customer relationship management (CRM) within industry.
Analytical Essay # 130557 |
2,250 words (
approx. 9 pages ) |
0 sources |
APA |
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$ 41.95
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Abstract
In this article, the writer discusses customer relationship management (CRM) across industry in general. The historical development within the call center environment is first examined and then its adoption by other industries in order to capitalize more effectively on customer data is examined. The writer maintains that CRM allows organizations to develop a closer relationship with customers and to monetize the data and information that would normally lay dormant within massive databases relatively untouched. The writer concludes that the single most prevalent reason for failure of CRM to deliver on expected returns is an organization that focuses too much on the data analysis functionality and loses sight of the actual customer transactions that are the most important part of the business process.
Tags:customer, relationship, management
An analysis of the customer service department of a supply chain.
Essay # 36938 |
1,900 words (
approx. 7.6 pages ) |
9 sources |
2002
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$ 36.95
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Abstract
This paper focuses on the function of customer services personnel with regard to the supply chain management process.
Tags:customer, service, supply
A look at the growing importance of customer relationship management in organizations.
Term Paper # 147101 |
2,919 words (
approx. 11.7 pages ) |
8 sources |
APA | 2010
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$ 51.95
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Abstract
This paper examines the growing importance of customer satisfaction towards the achievement of organizational goals, focusing on a variety of mechanisms which deal effectively with with the clients. First, the paper discusses how customers are viewed as the main determinants of corporate success. Then, the paper defines customer relationship management, or CRM, which basically revolves around the art of dealing with the customer. Numerous sources are cited which further elaborate on this concept. The paper also highlights the changes that have occurred in both the business and technological sectors and shows how CRM is pivotal in a companies success. The paper concludes by stating that CRM represents the art and science of developing and maintaining efficient communications and relations with the client, with the aim of better satisfying their needs and turning them into loyal customers.
Outline:
Introduction
What is Customer Relationship Management?
Conclusions
From the Paper
"Given the still growing importance of customer satisfaction towards the achievement of organizational goals, economic agents employ a wide variety of mechanisms in most effectively dealing with the client. These mechanisms are developed and implemented by the marketing team within each institution and address a wide array of issues, such as satisfactions, dissatisfactions, additional demands and so on. The commonality of all strategies employed in dealing with the customer is that they are all based on improving communications with the target audience. Customer Relations Management is a modern concept to be employed in the relationship between organization and its clients, and, despite what was initially believed, it is more than a technological tool."
Tags:CRM, hi-tech, business strategies, customers
An analysis of how a high customer satisfaction rate is essential to profitability.
Research Paper # 55204 |
3,071 words (
approx. 12.3 pages ) |
8 sources |
MLA | 2004
|
$ 53.95
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Abstract
This paper examines how it can generally be agreed that profitability is the overall result that companies seek. However, the business literature rarely describes a company as being focused on profitability. The paper looks at how business literature increasingly focuses on meeting customer's needs and achieving customer satisfaction and how this leads to the question of the link between profitability and customer satisfaction. An investigation of this issue shows that the two are linked where profitability depends on achieving high customer satisfaction rates. In the end, the focus on customer satisfaction makes sense, since this focus is a means for the company to achieve profits.
Outline
Back to the Basics of Business
The Role of the Customer in the Current Business Environment
The Advantages of Adding Value
The Competitive Advantage of Customer Satisfaction
From the Paper
"In considering any issue related to business, it is easy to get lost in the theory and to fail to recognize the very basis of conducting business. Getting back to the basics can be critical in gaining a clear understanding of the issues. This is especially relevant to the current topic with its focus on customer satisfaction and profitability. The first basic aspect of business that is important is that a business exists to make profits. The next question that this raises is how a business makes profits. The answer to this is that a business makes profits when customers buy the business's product or service. Without customers handing over their money to the business, a business cannot make money. In this way, attracting and keeping customers is crucial to a business, with these activities all part of the marketing function."
Tags:business, value, amazon, competition
A look at how Delta Airlines became a well run efficient carrier by concentrating on customer satisfaction and customer retention.
Case Study # 144819 |
825 words (
approx. 3.3 pages ) |
7 sources |
APA | 2010
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$ 17.95
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Abstract
This paper attempts to explain how Delta Airlines has made a successful transition from being another American-based carrier focused purely on efficiency to one concentrating on customer satisfaction and customer retention. The paper looks at how Delta Airlines has accomplished this through a combination of process-based, technologically-based and strategy-based initiatives that has led to their achieving customer centricity in their organizations. Suggestions are provided for how Delta Airlines can become more customer-centric and the paper also explains how lasting change can be made within Delta's ongoing marketing strategies through strong leadership.
Outline:
Introduction
Assessing Delta Airlines Customer Centricity
Change for Greater Customer Centricity at Delta Airlines
Driving Change and Leadership in Customer Centricity
From the Paper
"Of all domestic air carriers in the U.S., Delta Airlines continues to lead competitors in the areas of integrating Web-based and mobile technologies to give its customers an opportunity to interact with the company how they choose to. Delta's use of mobile-based check-ins, increasing reliance on their website for processing upgrades, seating assignments and managing special dietary needs illustrate how the company is successfully using Web-based, mobile-based and social networking applications to be more customer centric than competitors. The collection of technologies known as Web 2.0 are forming the foundation of social networking applications that seek to create more collaborative relationships with customers (Bernoff, Li, 2008). Appendix A of this document provides an overview of social networking applications."
Tags:satisfaction, retention, air, carriers
This paper researches the subject of customer satisfaction at the Marina Shopping Mall.
Research Paper # 98496 |
10,318 words (
approx. 41.3 pages ) |
25 sources |
MLA | 2006
|
$ 124.95
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Abstract
This work reports a study conducted relating to customer satisfaction levels at the Marina Mall. This article conducts the study through the instrument of a survey/questionnaire which asks 300 respondents, 150 male and 150 female, questions relating to different aspects of the mall in the areas of design, service, atmosphere, quality, selection, variety, products, and sales people, as well as parking and time preferences for visiting the mall. This research is a qualitative and quantitative nature exploring the preferences of respondent/consumers to a variety of questions concerning the various elements of the retail establishment that the review of literature in this study reveals as 'key' considerations for consumers related to retail shopping and entertainment or 'mall' establishments. Findings in this study include gender differences in the types of shops, food establishments, entertainment, etc. however, the Marina Shopping Mall is rated by the respondent/consumers participating in this study as having satisfied their expectations in most areas and totaling a majority percentage as well.
Outline:
Abstract
Introduction
Definition of the Problem
Bigger "Mega' Centers Customer-Preferred
Branding and Image are One-in-the-Same
Lack of Effective Planning Leads to Irrational Development Patterns
Teens, Preferences and Satisfaction Attributes of Shopping Malls
Gender-Focused Research and Customer Satisfaction Variables
Successful Pricing-Strategies
Store Design and Customer Satisfaction
Internet Shopping and the Impact on Traditional Store Shopping
Design of Shopping Mall (Location and Design Factors)
Summary of Review of Literature
Methodology
Instrument of Study
Data Collection and Analysis
Questions of the Study
Overview of Survey/Questionnaire
Data Analysis
Data Analysis, Findings & Conclusion
Findings of the Study
Conclusion
Recommendations for Further Research
From the Paper
"There is a considerable body of existing literature reporting studies that had as the main focus the consumer's preference of retail format. However, among this body of work limited examples of research exists that incorporate the role that demographics play in relation to choice of format in retail business. Location has been the focus of previous study as have patterns of product purchase, the potential for business at specific retail sites as well customer satisfaction and loyalty. This study has utilized an exploratory approach and has as its aim in part to characterize six major age cohort groups in terms of their preferences for retail formats."
"This study further divides these six groups into two major categories of male and female with each group containing three separate age groups. Through data analysis of these groupings by gender this study aims to understand the preference of the average consumer in relation to the Marina Shopping Mall."
Tags:shopping, center, stores, consumer