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This is because the response time has greatly decreased. The organizations now cannot wait to see if their products show positive response in terms of profit. The consumers are informed now like never before. The globalization has done wonders to the commercial world and the boom in internet has increased the reach of the customers. The products and services are just within the few clicks of the computer mouse.
The competition is another important factor which determines the modern business environment. This competition is a byproduct of diversity. The increase alternatives available to consumers force organizations to continuously evolve and strive for excellence. The present era has thus high regards for the customization of the product and services. This is a result of third wave civilization. In second wave the emphasis was placed on standardization of products.
The increase in customization automatically places customers as the key drivers to success. Therefore every possible measure is taken to satisfy the needs of the customers. Be it private or the public, both the types of the companies view customer satisfaction as one of the prime objectives. As the customers are the key drivers that help organizations make their decisions, the organizations are taking every possible measure to satisfy them in order to increase their market reach. For the purpose, many of the organizations are also involving the consumers and the customers in the decision making process. The marketing and management strategies are therefore formed with the customer at the core. Therefore practical involvement of the customer in decision making process is the key to success. Organizations find different methods to involve customers in the decision making process. Large FMCG (Fast moving consumer goods) organizations rely on surveys and customer feedbacks. Smaller organizations such as housing societies etc can directly communicate with customers and developed
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The battle for market share gets fierce and at the end of the day what distinguishes between who survives and who perishes is ‘customer service.’ The Australian banking industry is no exception to this rule. Customer Services in the Banking Sector The well regulated banking sector in Australia has been encouraging new entrants more than ever before.
Customer service as defined by economists is the organizations ability to give their clients what they desire and require. Customer service in this sense, cover all aspects that do not directly interact with clients in any way, (Zemke and Woods, 1999, p.13).
Companies, which seek to become price leaders, tend to attract more customers if they also ensure quality of products. With the increased competition between companies, there is need to have unique strategies to attract and retain customers. To achieve this, the market mix becomes imperative.
The quality of the product should always be of high standard.
The customer care side concentrates mainly on providing services to the customer. Customer care section plays an important role on deciding how good a Hotel's services are and should be taken seriously at all times.
Again, pricing is linked with profits and customer satisfaction. In most competitive and free markets, pricing is determined by the forces of demand and supply.
In the case of oligopolistic markets, where few major players dominate the business, they are in a position to dictate pricing terms, often to the detriment of smaller players who do not have the material resources or pricing strategies to match the big players.
It is undoubtedly the way they render customer service that sets them apart from all others.
Customer service is defined in many ways. It is said to be the quality of service rendered to customers. It is also the ability to satisfy the needs of a company's internal, such as co-workers, and external clients or the customers.
The retail market is diverse with segmentation, involving a lot of complex challenges and has more reach in the market through globalization. In this report we will focus on the complex issues that retail
According to the report best practices also calls for a high degree of interdependency among services and departments in order to offer and maintain excellent products and services. FedEx has successfully achieved this by investing heavily on the IT capabilities. Today, it has an income of $25 billion a year.
FedEx has significant consideration of their customers’ needs leading to the main reason why most people opt for the company products and services. FedEx customer profile is divided into 6 segments. These are FedEx Ground, FedEx Freight, FedEx Custom Critical, FedEx Express, and FedEx Trade Networks.
ation introduces a new product to the market, their main hope is that the product will be able to meet the needs of the customers in a way that no other product can do. For this to happen there need to be a way through which a business organization can do research and know
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