Customer Acquisition – Meaning and its Process
April 3, 2025
Customer acquisition is the process of acquiring new customers for business or converting existing prospect into new customers. The importance of customer acquisition varies according to the specific business situation of an organization. This process is specifically concerned with issues like acquiring customers at less cost, acquiring as many customers as possible, acquiring customers who…
Imagine walking in aisle of a typical super market (Shaw’s, Costco etc) to purchase salt, there are many offerings but choice is “Morton”. It is a simple example but a great situation to understand brand and brand equity. Companies already know that identity of product created over period of time through strategic marketing is brand,…
If in an organization, many customers diverge their way to other organizations and customer acquisition program shows less aggressiveness then the organization faces terrible cash flow problems. This is the time when tracking the number of customers in each stage of customer life cycle becomes essential. This helps the organization to determine the purchasing power…
The market research is normally outsourced to third party agencies by organizations and in turn they create a professional report to the organization. These reports are preferably provided to senior officials who are the critical decision makers of the organization. Hence these reports need to be exclusively efficient and well formatted and the matter should be limpid, analytical and directive.
The actual facts must be depicted clearly and it is desirable that the data and results are furnished in graphical or tabular format which could create a substantially good impression and is unambiguous to understand. The reports must be essentially capable to compare related information in the report so that conclusions can be derived potentially and easily.
It is necessary for a report to contain following details to be called a good report:
The analytical report creation is very important phase of market research which acts as a blueprint of the business plan which is to be executed. By following the above guidelines while report generation process can be efficiently taken care of.
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