StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

The Value of the Customer - Article Example

Cite this document
Summary
This article "The Value of the Customer" focuses on highly successful businesses that are those which can be able to create and sustain productive client bases. Creating a customer base means that different strategies be employed by marketers in a business organization. …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER97.2% of users find it useful
The Value of the Customer
Read Text Preview

Extract of sample "The Value of the Customer"

VALUE Highly successful businesses are those which can be able to create and sustain productive client bases. Creating a customer base means that different strategies be employed by marketers in a business organization. A productive relationship between customers and sellers should be able to yield customer loyalty to the business. Where a business has a vibrant marketing department, customers are able to identify and own the business brand thereby contributing to its growth and expansion. Customers who are treated with respect by marketers make them have positive comments about the business to other customers.

This discussion explains the dynamics of relationship marketing and its importance to a business. It explains how the concept can be used by businesses to their advantage to enhance their growth. Relationship marketing is described as the model of creating and retaining customers in a business. Developing strong value and retaining customers are important strategies that markets employ in the modern competitive business environment (Trasorras, Weinstein, & Abratt, 2009). Perhaps one of the most disturbing issues is that some businesses experience cases of customers defecting from them even when they think that their services and products were best offered.

This is the issue that Relationship marketing tries to explain. Positive customer relationships are well maintained through different methods that businesses choose to invest in (Eriksson & Soderberg, 2010). Some of the methods that have proved successful include the use of incentives like customer clubs. In this method, businesses create social forums where customers can be meeting frequently and share ideas with the business stakeholders on areas that need general improvement. Customers are also able to share their views on the kinds of products offered and give inputs towards further developments.

Erickson explains in his paper that the intersubjective approach to customer relationships means that the “self” of the business and others, who are customers in this case are usually inseparable. In this approach, a business is able to put the customer are the core of their business. A customer-based approach to marketing is thus the system adopted in marketing where inputs from clients are highly adhered to and respected. Customers are meant to have confidence in the services offered by the business, in this case, they should be easily approached for feedback.

Customers who experience maximum utility in service delivery are loyal to the business and can trade with it for a long time. What should be the duty of management in this case? Managers are meant to study issues that need to be adopted in order to create and retain customer loyalty. Erickson emphasizes the need for tangible action in streamlining the marketing department. Marketers should own the business objectives and work towards their achievement. There should be extensive research into what enhances customer loyalty.

In order to create positive working relationships, marketers should be able to set their approaches based on the recommendations that customers propose as the best for the business. What customers say and to whom they direct their comments should be well understood. Often customers have a way in which they evaluate the services they are offered by businesses. This reasoning should enable the business to establish functional relationships between itself and the clients. Leaving the business to react to customers’ feedback after all has gone wrong is not recommended.

The space between customers and the business is to be highly valued. What lies between making customers value and appreciate the business or looking for other businesses to be loyal to? Markets should find solutions to customer issues. They need to find out how customers contextualize the business and try to make it better if it’s not very promising in the future. An important thing to understand is that the issue of value is very subjective and therefore any person giving comments about it should be well listened to (Trasorras, Weinstein, & Abratt, 2009).

Where many people are making their contributions towards an issue of value, their views are to be held in great esteem. In the future, it is projected that businesses that are able to take into action the views of customers are in a better position to establish a loyal client base. Relationship marketing as presented by Erickson is a good model for ensuring business growth and establishment. Customers are to be taken as people that are part and parcel of the business, their inputs are therefore critical to the growth and success of the business.

The marketing department should be open to receiving and initiating better feedback systems through which customers can share out their feelings about the business.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Article Critique Example | Topics and Well Written Essays - 500 words - 5”, n.d.)
Article Critique Example | Topics and Well Written Essays - 500 words - 5. Retrieved from https://studentshare.org/marketing/1627999-article-critique
(Article Critique Example | Topics and Well Written Essays - 500 Words - 5)
Article Critique Example | Topics and Well Written Essays - 500 Words - 5. https://studentshare.org/marketing/1627999-article-critique.
“Article Critique Example | Topics and Well Written Essays - 500 Words - 5”, n.d. https://studentshare.org/marketing/1627999-article-critique.
  • Cited: 0 times

CHECK THESE SAMPLES OF The Value of the Customer

Customer Relationship Management

How should that chart be changed in order to facilitate customer management and to make sure people are evaluated, measured, and compensated for building The Value of the Customer base?... Figure 1: imperial decoration company, organizational chart How should that chart be changed in order to facilitate customer management and to make sure people are evaluated, measured, and compensated for building The Value of the Customer base?... Customizing customer treatment involves engaging the customer in a learning relationship, which includes adjusting the company's behavior to meet the needs of a customer....
6 Pages (1500 words) Essay

Entrepreneurial Venture: Cleaning Business

The quality of trust that develops between the customer and the business units guides the overall outcome of the business.... A search for customers and Marketing: The success of any business in the long run depends on the customer the business deals with.... (Morrow, 2008) In order to bring the customer segment into focus few marketing approaches were carried out like advertisement in local newspaper and magazines.... But as the business graduated I hired some people to take care of the job and was busy in scheduling, handling customer queries and other related job to the field....
4 Pages (1000 words) Essay

The Responsible Leader and Manager

Customers The customers are among the key stakeholders, and the company instills The Value of the Customer being king to all managers.... The district manager oversees all the operations of the district including customer satisfaction and preparing stakeholders' reports.... It is, therefore, significant to portray themselves as a company that focuses on excellence driven by customer satisfaction and motivational leadership on top of giving value for money in their products....
5 Pages (1250 words) Essay

E-Business in the Car Industry

The chain from which the product, car, moves from the manufacturer to the customer is that of via the car dealer.... It is argued that this enhanced interaction empowers the customer.... he online advantage is that the customer can have a comparison on all products available and use the intermediaries in conjunction to compare various manufactures and brands.... alue creation has been described as the difference between the cost of providing the product and the amount the customer is willing to offer for the product....
17 Pages (4250 words) Essay

Customer Care Department at the Airport

The various ways of improving the quality of service at the airport include the efficiency of the customer service department and integration of the customer care services with the security aspect of the airport.... he functions of the customer care department at the airport are extremely important as they help in maintaining the smooth flow of journey by the passengers.... ow the employees of the customer care departments at the airport treat their customers as customer service staff determine the value of experience provided to the customers that pass through their terminals....
6 Pages (1500 words) Essay

How Can Customer Relationship Management Be Used to Sustain E-Loyalty

This requires that The Value of the Customer is calculated over his entire relationship with the firm and not based on any particular transaction (Bose, 2002).... Customer Relationship Management (CRM) is one such tool that integrates technologies and business processes to satisfy the needs of the customer (Bose, 2002).... The CRM professionals understand that CRM has a distinctive focus and that it has the capacity to integrate customer information not only into the database but also into relevant communications delivered to the customer (McKim & Hughes, 2000)....
8 Pages (2000 words) Term Paper

The Responsible Leader and Manager of Limited Brands

he customers are among the key stakeholders, and the company instils The Value of the Customer being king to all managers.... It is, therefore, significant to portray themselves as a company that focuses on excellence driven by customer satisfaction and motivational leadership on top of giving value for money in their products....
6 Pages (1500 words) Essay

Designing a Customer Care and Values Training Programme for Personnel

The author of the paper "Designing a customer Care and Values Training Programme for Personnel" will begin with the statement that in order to carry out the project it will be necessary to have a system for staff selection so as to have the right people in the project team.... The team members should have the relevant skills required for developing a program for training personnel on customer care and values.... roject IdeaThe organization that is sponsoring this project has come up with the project ideas of developing customer care and values training programs for the personnel....
8 Pages (2000 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us