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Customer retention and satisfaction research proposal
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As a CSR, it has been my mission to provide customers with the individual attention that they deserve. In regards to the tiered service plan that has been proposed, this would be beneficial for the company now and over the upcoming years. We should still give all of the customers the same friendly attention that they deserve, yet the more valuable the customer is, the more individual attention they should receive. Whether we like to admit it or not we are dependent on the customers and the customers that provide increased sales for this company, should receive special attention. The tiered system approach is nothing that will be obvious to the one time customer, as they should receive the same treatment that all other one time customers receive. …show more content…
It also makes sense that these clients are the customers that OTTP needs to treat like royalty. OTTP’s existing plan has been effective in sustaining the business, but it is time to graduate to a new level of service. The theory of “a customer who makes a small purchase today might make a large purchase tomorrow”, and at this time when they start making large purchases, they will reap the rewards of a tiered service system. There is nothing wrong with the old system, it is just time to graduate to a new way of thinking and doing business. I am 100% behind this new system! I like the idea of a rewards system based on purchase amount, as this will let the customer know we are aware and are appreciative of how much they spend with the company. The tiered system would offer more incentives to the customers, yet the implementation of this system will not negatively impact the company financially. An example of the successful use of a tiered system would be the airlines and they have seen much success at offering different stages of affordability to their …show more content…
This customer has been spending this amount for years and perhaps something as subtle as a reminder to how close they are to receiving the rewards would be enough to encourage them to spend the difference. With this tiered service, the level of commitment to a customer who spends below the amount that is allotted for rewards and incentives, should not have any bearing on the customer service that OTTP would give. The tiered system if set up properly can be an effective tool for the business and customers alike. All customers will receive a high level of customer service, yet the ones who spend over the 100K will receive extra special service. There is nothing wrong with this
A Couple of Squares should price their products based on customer value since there is no relationship between customers’ value for a product and the company’s costs. A Couple of Squares currently uses a cost based pricing system. Using a cost based pricing system can undercut profits due to customer value. If customers are willing to buy cookies from A Couple of Squares for twenty dollars and A Couple of Squares is only charging five dollars, they are losing out on a significant amount of profit. Basing pricing on customer value would also keep customers satisfied. Customers would be satisfied since the company is focusing on their individual needs. If the company prices their products based on customer value, the customer will be willing to buy the product because it is at a price they are willing to pay. Therefore, pricing based on customer value would maximize profits as well as customer
An organization’s pricing strategy will vary depending on multiple factors. An organization needs to understand their competition and market share, the distribution chain, and ultimate goal of customer retention. This paper will review the pricing strategies of Intuit.
Also, the rewards program is based off a point system and when one has earned a certain amount of points they send them a gift card to spend however they wish. Though, what the consumers don’t know is that by applying for their free rewards program, they are collecting data and constructing analysis to make them into loyal consumers.
The industry has loyal customers with broad customer base that lowers the collective bargaining power of buyers to medium. The switching cost is very low and thus the customers can turn to a service provider who provide faster and innovative service but this is overcome by customized services and integrating into their customer supply chain.
Although the power has shifted back and forth from stronger decentralized government to a dominant centralized government, the balance between the two has yet to fall completely. Thanks to the limitations the Founders installed into our Constitution, there has yet a time where the states or national government has the total power to control the nation as a whole. We call this type of government system as the federal system. In a federal system, there are different but separate levels of government who has their own powers. Furthermore, in order to ensure that the centralized government is not oppressing the states there are also limitations on certain national powers (McDaniel and Shaw, 2014). However, through the various Supreme Court controversial cases, we see that the Supreme Court is giving the states the choice to legalize or not laws such as same-sex marriage and gun control. Yet on the other hand, states have increasingly depended on the national government for funding various activities such as educational funds and national security funds (Kollman, 2013). Since states have to rely on the national government for the various funding, it seems as if the national government essentially has the upper hand over what the fifty states can and cannot do.
customer at a time. They are more concerned with the quality of the service tha
Initially the bank’s core banking system was product oriented, but the need of the hour was to develop a customer oriented system, because the challenge is to build customer loyalty, cross sell, and enhance repeat business.
Assign special key account managers for large customers. Introduce discounting policy and customer loyalty programs.
Other restaurants insist on adopting the service first approach: A customer will be allowed to ...
Chen, Hai-Ming, & Hsieh, Yi-Hua. (2006). Key Trends of the Total Reward System in the 21st
For a business to grow into a more profitable one, the manager should emplace measures to insure that customer service is made number one priority. After implementing a structure, it is recommended that the customer service representatives, along with other employees in the business, undergo continuous training in order to maintain the standards set out by the customer service model. Having the right structure in important in any business entity and will have positive implications on its profits.
A supply chain is a network of facilities that procure raw materials, transform them into intermediate goods and then final products, and deliver the products to customers through a distribution system [1]. The basic objective of supply chain is to “optimize performance of the chain to add as much value as possible for the least cost possible.
In customer service , reinforcement can be prompt for example, when a customer buys an item. As indicated by the Reference for Business Reference book, nonstop support can be useful when new workers are taking in an association's client administration convention in light of the fact that it can encourage the learning process and guarantee that legitimate requests are taken at a more fast
Service management is refers to the chain management system which established the relationship between the organization and consumer. It is integrated into supply chain management system when the actual sales and customer intersect. The aim of service management system is to provide the best services to the customer through their performance. The high performance of service management can ensure the optimum services to their customer in a complex manner than the typical supply chain. Most of the time, the organization requires larger inventories and strong integration with different system and innovation. They have to be prepared with advanced information and high performance to accommodate inconsistent and uncertain demand. Moreover, Service Management must be coordinated across numerous services with large number of parts and different level of the supply chain.
Loyalty customers gain the more cost advantage and benefit, this resist competitors very hard to match. Promoted cost bind to loyal customers to sustainable growing.