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8988 Distribution Channels – Meaning and Their Significance

Various marketing intermediaries are used in transferring the products from the hands of producers to the final consumers or industrial users. These marketing intermediaries carry alternate names such as wholesalers, distributors, retailers, franchised dealers, jobbers, authorised dealers and agents. Such marketing intermediaries compromise the distribution channel. These distribution channels minimize the gap between point of […]

12769 Co-branding – Meaning, Types and Advantages and Disadvantages

What is Co-branding Co branding is the utilization of two or more brands to name a new product. The ingredient brands help each other to achieve their aims. The overall synchronization between the brand pair and the new product has to be kept in mind. Example of co-branding – Citibank co-branded with MTV to launch […]

10988 Managing Retailing, Wholesaling and Market Logistics

Companies are looking forward to moving away from the conventional supply chain and moving towards value network. In a value network traditional supplier-wholesaler-retailer are considered as partners rather than as a customer. Companies designing marketing channel under the value network principle need to understand the players, role and their importance. Retailing The act through which […]

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Let us go through some social responsibilities of an organization towards its customers.

Treat your customers as kings and do not think of them only when you have a pressure to meet your targets within the stipulated time frame.

There are organizations that do not bother to touch base with their customers the whole month but are active only when they fall short of their targets and they have an appraisal in the coming month.

Understand that a customer buys your products or services only when he/she trusts your brand and most importantly believes in you. Understand the needs and requirements of your clients. Find out as to why they need a particular product and how your product would benefit them.

You need to build a strong relationship with your customers for them not only to remain your loyal clients but also bring more people along with them. It is the responsibility of the organization to give correct suggestions and feedbacks to customers.

Avoid making fake promises and commitments which you yourself know are difficult to fulfil. What is the need of selling a mobile phone with just one day battery backup when the customer has specifically asked you for a handset with at least 3 days backup?

Never lie to your customers. It is foolish to cook false stories. Trust me, you will be caught. In today’s world, where information is just a click away, everyone does his/her thorough research before purchasing something. Unnecessarily you will lose your respect in front of them.

If you can’t deliver something, please mention it clearly. They might not invest in that particular product but believe me, would definitely come back to you in near future just because you were honest and guided them correctly. It is pointless to badmouth your competitors.

Businesses dealing with customer’s money need to be extra careful with clients. Make sure their money is invested in a right way and also multiples at a rate promised to them. Do not run away with their money. It is one of the worst things you can do to your customers. It is your responsibility to take care of their hard earned money. Suggest them the right schemes and right plans as per their need.

Do not just think of your own selfish targets and incentives. This way, you will definitely meet your targets once or twice but trust me not for a very long time. The moment, the customer knows that you have cheated on him/her; your game is over. He would neither come to you again nor recommend your brand to his friends or acquaintances.

Respect your customer’s time. Do not decide the time and venue as per your availability and comfort. If the customer wants to meet you at 5 in the evening, make sure you are there on time. Neither reach too early nor too late. Do not keep your customers waiting. Do not forget that there are several options available in the market. Your loss is someone else’s gain.

Organizations tend to forget their customers once the deal is done. After sales service is essential and ensures long term growth and profits for the organization. Make sure you are in touch with your customers after the deal as well if you wish to survive the cut throat competition. Do not ignore their calls once you have sold your product. If the customer is not satisfied with your product, it is your responsibility to replace it or provide a solution.

Customer feedbacks are important and help you understand the satisfaction level of your esteemed customers and how you can make your product better in due course of time.

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