Essays on Principles and Practice of Marketing Case Study

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The paper "Principles and Practice of Marketing" is a great example of a Marketing Case Study. Customers are the immediate livelihood of any given business entity and thus, building a stronger and longer relationship with them is imperative for purposes of posting success in relation to such aspects as revenues and profits (Forman, Ghose and Goldfarb, 2009). Some of the most notable ways of ensuring that the customers are fairly maintained within the company include; First, it is important that businesses ensure that each and every of their immediate interaction with the customers is taken into consideration (Kumar, Lemon & Parasuraman, 2006).

Businesses spend lots of money and cash resources for purposes of creating a reputable image within their respective industry of operation. Thus, it is argued that the foundation of customer relationship is only as perfect and essential as the last interaction. A negative mode of experience is far much enough to chase them away to immediate competitors. Following this line of reasoning, it is important for businesses to practice the element of courtesy and also, ensuring that each of the customers enjoys a personal touch in the course of interaction (Kumar, Lemon & Parasuraman, 2006).

For example, the small company can send email to each of the complete transaction since it can establish a positive rapport and impression of the company. Second, stronger customer relations are created through the immediate creation of formidable connections and networks with customers. This mainly entails the provision of information in regards to the company’ s products, events and other deals via such medium as email, websites and also, social media (Kumar, Lemon & Parasuraman, 2006). Given that the small business operates online, it is imperative that its website is user-friendly, easy to navigate through and also, it must contain all of the relevant information needed for effective business operations. Third, it is important for the business to reward loyal customers.

Numerous researches indicate that a possible 5 percent increment in regards to retention has the effect of increasing profits by 25 and 100 percent (Kumar, Lemon & Parasuraman, 2006). Subsequently, it is noted that repeat customers spend about 67 percent more than new ones and thus, it is crucial to provide repeat customers with something of value in order to exchange with their immediate levels of such resources as time and commitment.

The company can go ahead and provide them with such items as coupons, mere advice or even organize events for purposes of maintaining them within the company businesses. Fourth, the small business can embark on engaging in employee training for their small workforce. It is important to realize that employees are the immediate ambassadors of a business and thus, their model of communication to the customers determines whether the customer will enjoy a lot of loyal customers (Kumar, Lemon & Parasuraman, 2006).

This is the fundamental reason for ensuring that employees are fairly trained and are experienced enough in matters related to customer services. Even though the whole exercise is expensive, it is considered to be a crucial step in establishing stronger and longer customer ties, which translates to a positive customer reputation for that matter.

References

List

De Chernatony, L. 2009. Towards the Holy Grail of Defining ‘Brand’, Marketing Theory, vol. 9, no. 1, ; pp. 101-105.

Forman, C. Ghose, A. and Goldfarb, A. 2009. Competition between local and electronic markets: How the benefit of buying online depends on where you live, Management Science, vol.55,no.1; 47-57.

Kumar, V., Lemon, K & Parasuraman, A.2006.Managing Customers for Value: An Overview and Research Agenda. Journal of Service Research, Vol.9, no.2; pp.87-94

Kotler, P. &Keller, K.2006.Marketing management, (12e).New Delhi: Prentice-Hall

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