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Unhappy Customers - Personal Statement Example

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Summary
A common saying goes about customers response that “If you make customers unhappy in the physical world, they might each tell 6 friends and if you make customers unhappy on the Internet, they can each tell 6,000 friends”…
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Unhappy Customers Personal Statement
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On the other hand a satisfied customer pulls number of other customers towards the organization and service. Customers help defining success in a way that they set benchmarks for what is in demand, and things that need to be avoided or are out of date. For them its more about quality than the costs, they are willing to pay more for comfort and quality rather than low quality and more hassle of repair and low productivity. The policies so made should be customer centric. Customers’ response is related to the online sales and services as well as the physical world businesses responses. A relationship matrix can be defined in this way to identify all the factors and benefits that may be achieved through successful implementation of customer response and satisfaction. A prime example in this regard was seen when a musician had his guitar damaged in an aero plane flight and when the compensation was demanded, it was not provided; the same musician went on to make a song on the United Airlines services and this incident and ended up with millions of views to his video and song, this earned the company a bad name, and in the end they had to apologize and provide compensation, all to customer dissatisfaction (Cheryl Hamilton 2010).
Customer Relationship Management is an approach towards establishing a relationship with the customers and working to their satisfaction and demand, in other words, a key to success. C.R.M stresses upon focusing on individual customer rather than masses, this helps knowing the customer behavior, the past experiences. The entire process would focus on the manufacturing strategy, the services to be provided after the product is prepared. Customer identification, differentiation, and personalization are few important terms and phenomena that need to be taken into consideration while dealing with the customers since every customer has a different taste than other, and so is the demand and requirement. The differentiation aspect helps identifying the customers that are more regular, have larger stakes on hold, and are slightly sensitive to the subject and services, and since all resources might not be available every time, implementing them at the right place and towards the right customer becomes important. Paretho Principle is another similar concept related to the customer response. It is also known as the 80-20 rule, and according to it, the 20 percent customers that makes up for 80 percent of the sales. It is being stated that cost of making a new customer is far higher than retaining one. Even the 5 percent customers retained, results in 25 percent increase in overall productivity of an organization (Ronald S.Swift 2001). Besides customer satisfaction the individual characteristic of the product or service defines the rate of customer turnover from any company or brand. Customer response is considered a Key performance Indicator (K.P.I) and based on its value; the company’s performance is measured in the marketing world. Surveys are being conducted about particular product or service, or the overall experience of the customers with the company, based on their response in the rating scale, further strategies are being devised that helps molding the structure of company according to the need of customers. A company must be open to claims, and repairs, however the best policy is to prevent rather than repair, it helps in many ways, not ...Download file to see next pagesRead More
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