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Importance of a customer in business
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PREFACE 1. The customer is the most important person in your business The customer holds the key to every successful retail operation. Based on my 20 years ' of experience with a number of different retail businesses, this article will introduce you to the journey to make your business customer-focused, and realize the potential you have to make your retail business a success. The main retail principle to master is the customer; the customer should be the centre of your business and everything you do must revolve around that customer. Knowing them, and focusing on them in everything you do, will help you grow your business and your team — the customer is king. 2. Retail is detail One of the most famous principles in retailing is, of course, Understand the four P’s This is a very old principle but still has validity. This retail principle will help you understand the overall foundations of a retail business; the 4 Ps: Product, Price, Place, Promotion. These are the basic foundations of a successful retail business. • Product: You need products that your customers want to buy and a product range that will satisfy your customers’ needs and desires. The products must also deliver a profit for you to have a successful business; • Price: Price must be consistent across the marketing mix and meet all requirements for your business. You need to price your product range at the correct level for the customers to be able to buy your products, and for them to gain value from your products. This could mean pricing high or low — this very much depends upon your customer History has dictated that this is one of the most important factors in the success of a physical store, and still to this day it will have a major impact on your success. The best location of your store will be dictated by your brand and product strategies. For example, a supermarket operation needs a car park and a high fashion store needs to be in a high fashion area that attracts the right customers for the store. I would argue, however, that location has less effect now than previously, due to two main factors: the first being the flexibility of the customers; now we often travel more, and the second being the
1) For a channel to succeed four location decision factors are considered; economic conditions, competition, the strategic fit, and the cost of operations. Stores need ...
Product is/are the products or services you offer and are they unique and different, superior in quality and easier to use. In my own opinion, the product or service is one the most important aspects of a successful business. If you have an item that the customer really wants they will drive out of their way to purchase it. They are usually willing to pay a higher price if the quality justifies it. When a local popular hamburger place open up in Phoenix, people drove long distances and sat in long lines just to bite into one of their juicy hamburgers.
Without good customer service and keeping your promises, your company would have loyal customers. According to 5 Focusing Steps, “If you’re not yet sold on the idea, consider that a 2 percent increase in customer retention has the same effect as decreasing costs by 10 percent. Not only that, but it costs over six times more to get a new customer than it does to keep one.” Customer satisfaction should be a golden rule of all companies.
N.D.) There are three things to know and do in order to capitalize on this, first know what motivates the customers from their behavior as well as their buying decisions. Second, is to uncover the true reasons the customers decided to buy your product or service instead of that of your competitors. Finally, put yourself in the customer shoes and ask yourself this question; what would make them come back to your store again? The answer to these could be the quality of the products and services offered, the friendliness of the employees, the customer service, the cleanliness of the store, and accessibility of the products (Staff, E.
Satisfying and pleasing customers have become something of a corporate obsession. Customer is served in the best, effective and most efficient manner and this practice has become critical.
First, customer centricity is important to channel customer centricity into their company strategy. It will get the whole workforce on track. Next, the collection should keep their customer data up-to-date. They would benefit from building a stable foundation by bringing all of their current customer contacts. The brand should also save all documents including minutes-of-meetings, emails, offers, contracts, and every payment transaction. Then, the company should establish healthy customer relationships based on their customer profile. It is always important to follow-up on customers and to make sure they stay satisfied with the merchandise. Finally, it is all about the customer. Their response is very important. It is viable to surprise and impress their customers, as well as plan and implement multi-phase marketing campaigns(CAS
What exactly does it take to create a successful leading retail store? So many companies are in competition of gaining the shopper’s loyalty they end up neglecting other important aspects. A perfect retailer has to balance out high-quality, attractive prices, customer loyalty, and an enjoyable environment. “Target has experienced considerable growth in the last decade because its stores offer fashionable merchandise at low prices in a pleasant shopping environment.” (pg42) “It has developed an image of ‘cheap chic’.” (pg42)
The company has the main objective of offering superior quality products and services to its clients. This means that the company has the role of ensuring that its customers get quality services and products they offer thus leading to customer satisfaction. In addition, the company has effective cost leadership strategies with well-established distribution chain and logistics. This has enabled the company to be leading Retail Company in the world that has high customer satisfaction rating.
“Product: The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-user 's needs and wants. The scope of a product
Close to the Customer: Customer satisfaction is very important throughout all the roles that the business plays. Many companies forget about their customers, whereas successful companies have an obsession with their customers. Excellent product quality and reliability will make a satisfied customer. Great service will keep the customer coming back.
Know the problems of your customers and what they are looking for, then offer them the right products and outline the benefits to them. Most of the time, customers do not care about your product or its features. They care about what your product does for them. Therefore, do not just list the features of what you offer, but rather add the benefits of your products or anything you offer to your targeted audience (your customers or visitors). This is a very effective element for Customer satisfaction.
The key success factor is important to every company in any industry. This analysis shows the companies how the customer chose the products and what the company needs to do to survive their competitors. When viewing the whole sale industry there are two key factors that every company should be aware of and if they have availability and product differentiation.
The saying, “the customer is always right” isn’t always necessarily true. Most of the time, the sales associated is correct. However, it is still important to treat costumers with respect, even when they are wrong. Another important skill to have in order to survive retail is to remain patient with costumers. It can be frustrating when a customer messes up a display or leaves clothes on the dressing room floor. Dealing with grumpy customers can also be challenging. Nonetheless, a worker must remain calm and accept that the job entails sometimes dealing with difficult situations and
There are many skills and techniques to learn before a business can have excellent customer service. If you are not putting the customer first and putting all else aside, it will show and slowly you will lose business. Learning how to speak positively, exhibit inviting body language, and listen actively are just a few of the skills that need to be taught to all employees that deal with customers. By providing adequate training and using that knowledge to the best of your ability, you can have the best customer relationships and a loyal following that could open new doors for new customers or even new stores. Giving outstanding customer service is a requirement if you want to keep your business open and prospering.
Customer Relationships is about building a relationship of trust and convenience. A customer wants the company they are working with to be intuitive. To know their needs before they do. They want to feel respected, they need to believe you are honest and have integrity. This relationship breeds comfort and familiarity and causes the consumer to continue to do business with your company. This relationship that is built develops a personal relationship, like a friendship and it is one that the consumer cannot get from the store down the road and it is that personal touch of sincerity, of knowing their needs, of servitude that will turn them into lifelong branded customers.