More handpicked essays just for you.
Communication methods in the business environment
Communication methods in the business environment
Communication methods in the business environment
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Communication methods in the business environment
1) define Customer equity and how to increase it
Costumer equity: Value of possible future proceeds, caused by a company's customers in a lifetime. A company with high customer equity will be valued at a higher price compared to company with a low customer equity. Therefore, the more loyal a costumer is the more costumer equity.
The company can increase the costumer equity by creating a competitive advantage.
There are reasons for costumer equity:
1- Brand equity: ladies from the high-class loves to but Herms and channel bags because it is brand
2- Value equity: the price and the offer people prefer to but from wall mart rather than target . or dollar store rather than any shop .
3- Relationship equity: what make the costumer buy from this shop rather any shop. For example I like to go to the nail spa which is in the Milford mall even thought there is a nail spa just next to my door and it is cheaper. However, I am comfortable in Milford mall they know me by name they know what colors I like.
Examples for companies with high equity, Facebook, apple, MacDonald.
2) describe different types of customers and explain how they should be treated
• Loyal Customers: they are not greater than 20% of customer base. However, they make up 50% of the sales.
• If we want to grow the business customer and the market profit we should consider on the loyal costumers try to be in touch with them in a routine base via phone ,email, mail. Because in many situation the more you do for them the more they will recommend you to others ”word of mouth” that is called “buzz marketing”
• Discount Customers: They shop in the stores habitually, however, their choices depend on the range of the discounts.
•
• Impulse Customers: they don...
... middle of paper ...
...t of consumers' conversations and lives.
2- free advertisement using social networking like ,instrgram, twitter, Facebook etc.. Using e-mail, blogs, Web sites, YouTube, social networks, today's marketers combine communicating methods which lead to aimed two-way customer relationships.
2- Internet use and technologies, made connections easer people can contact each other with one click with large grope or small grope, local or over seas.
3- Communication now is more efficient
4- communications has no limits, it is cheaper
Extra credit:
Tom’s video I really loved this idea it is really nice to think about other people specially when they are poor. People like me do not like to waste their money in shoes but when I knew that when I buy pair of shoe and other person need this shoe and this will help other person I would buy it. It is good and smart humanity idea.