Cultural Levels and Business
February 12, 2025
The past few decades has seen unprecedented growth of service industry. In fact we can today say that the service industry is at its maturity stage. The gamut of services that make up for the significant contribution towards the GDP of the economy are numerous ranging from financial services, health care, hospitality, travel, insurance, information […]
The Five Challenges of Determining Pay and Perks Challenges in Organizations Ensuring fair pay and perks packages across the organizational hierarchy can be challenging for Human Resources or HR Personnel. For one, they have to ensure that the Pay Gap between the Topmost and the Lower most levels is not too high to demoralize the […]
Introduction The resource-based view (RBV) is a way of viewing the firm and in turn of approaching strategy. Fundamentally, this theory formulates the firm to be a bundle of resources. It is these resources and the way that they are combined, which make firms different from one another. It is considered as taking an inside-out […]
Introduction Knowledge management is the recognition, optimization and effective handling of intellectual assets to build value, enhance productivity, and achieve and maintain competitive advantage. This comprises of the summarization, combination, dissemination and utilization of knowledge in an organization. Thus the management of knowledge comprises of various tasks and functions. The generation of a knowledge management […]
Whenever a company wants to sell its shares in the open market, it faces a very important question. The question is that what should the price of the shares being sold be? Over the years, investment bankers have tried multiple ways to find out the fair price at which the shares should be sold. Many […]
Consumer communication and persuasion is an essential part of any Marketing Strategy. In fact, it is the starting point of all improvement as consumer voices provide companies with the data such as where they are lacking and what all they could do to improve the product or service.
Do all companies listen to the consumer voices? Not really. It is only the ones which have an effective consumer communication process in place, that are really able to focus on consumer needs. Are you one of them? Let us take a look at the consumer communication process at Suntory to understand the Consumer Communication Process.
This company has set up a Customer Centre which takes up all inquiries, complaints, and proposals from customers. Though most of the queries are answered, the customer voices are sent across to related departments of the company. These departments analyze the gap between the customer needs and the products and services. After doing so, the quality improvements are suggested and the product development takes place in keeping with the customer demands.
Consumer communication should be used effectively to drive maximum benefits to the company. You must be thinking how. Let us look at few ways which will help you market effectively even in a downturn.
The above points can also be used for consumer persuasion too. Face-to-face meetings are more effective in persuading people to buy your stuff. People can judge easily whether what you are saying has substance or not. Therefore, try your level best to portray the positive image of your product in a positive fashion. Once you learn the essence of consumer communication, you would never have to look back.
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