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Business Management - Essay Example

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In order to promote customer loyalty, there is need for an organization to deal with the changing needs as well as ensuring that they know the customer, listen to the customer, remember the customer, and help…
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Business Management
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Business Management Dealing with Changes in s characteristics needs and expectations keep on changing from time to time. In order to promote customer loyalty, there is need for an organization to deal with the changing needs as well as ensuring that they know the customer, listen to the customer, remember the customer, and help the customer. Therefore, in ensuring that customers will keep on buying various strategies can be put in place.
Firstly, there is need for adoption of creativity and innovativeness in developing a better product or service. It is expected that the product quality will bore the customer when there are more improved ones in the market. To keep pace with the demands, the operations team should on a high gear to develop better products or services that are more customers oriented (Lang, 2013).
Secondly, the mode of relaying information to the customer is very important. Information technology has grown to enable organizations to meet individual needs of customers. In order to remain competitive and retain the customers, use of information technologies is inevitable due to the accompanying efficiency (Lang, 2013).
Thirdly, customer care is very important; all issues raised by the customer should be keenly addressed. The care centers should go a notch higher in providing customized customer services. In doing so, the customer feels appreciated hence increasing their loyalty. Another important point is that the organizations should be swift to respond to customer’s opinions and trends (Slywotzky, 2007).
Fourthly, the organization should have a database of its customers and keep on tracking any changes in buying trends. If a customer’s trend exhibits a negative change, an appropriate action should be taken by doing follow up geared towards understanding the cause (Slywotzky, 2007).
Some companies have been successful in ensuring that customers remain loyal as well as appreciate their products. One of these companies is Coach Inc, a company that makes handbags and other fashion accessories. Coach Inc has utilized diverse ways of identifying the customer needs. It uses over $5 million in the process of testing new products, which includes several methods of reaching to the customers such as surveys, one-one interviews, as well as in-store testing. The company has a database of its customers; this has continued to grow due to the responsiveness and sensitivity to customer needs. The company endeavors to have all the customer dynamics taken care of. Aspects such as positive buying intent, lapsed customers, competitive rating, customer satisfaction, as well as new customers are given a high priority by the company (Slywotzky, 2007).
Another company that has continued to embrace customer needs is Walmart. In October 2013, it was reported that the company intended to build more than one million square feet warehouse that was meant to take care of the increased online shopping. This was an attempt to counter competition from Amazon when it comes to online shopping. The customer requirements for a wider selection of goods as well as efficiency in shipment of products necessitated this development (Barr, 2013). This strategy is meant to speed up delivery as well as reducing the cost. The online shopping strategy is one of the creative strategies that the company has adopted in the recent past and it seems to have attracted quite a number of customers as well as promoting customer loyalty
References
Barr, A. (2013). Wal-Mart opens largest online fulfilment center. Retrieved on 22 January, 2014 from http://www.usatoday.com/story/tech/2013/10/01/walmart-online-warehouse/2898657/
Lang, P. (2013). 5 ways to keep up with customer demands. Retrieved on 22 January, 2014 from http://blog.unify.com/2013/07/5-ways-to-keep-up-with-customer-demands/
Slywotzky, A. J. (2007). Keeping up with your customers. Retrieved on 22 January, 2014 from http://www.businessknowhow.com/marketing/customerchange.htm Read More
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