Pricing Challenges in Multi-Channel Retail
Online retailing has now become a part of our everyday lives. Companies like Amazon have swooped in from nowhere and have suddenly grown into one of the largest companies in the world today. The online companies took the world by storm. Their growth has been sudden and astronomical. Hence, many big businesses did not get […]
Qualitative and Quantitative Research – Concept
As the names suggest quantitative research produces numerical data whereas qualitative research generates non numerical data. However, this is only a superficial understanding of the terms. In the first chapter, while exploring the types of research, we have mentioned that when there is uncertainty or when the problem is not clearly defined, we deploy exploratory […]
What is Brand Promise? – Mistakes to Avoid While Building it
Brand evokes the responses. There are many people who love their Apple iPod or love their car etc. There are certain feelings that come to your mind when you think about your favorite brands. People expect that these brands should demonstrate brand promises every time whenever they are, encountered. Inconsistencies in the performance of services […]
Questionnaire Design – Guidelines on how to design a good questionnaire
A good questionnaire should not be too lengthy. Simple English should be used and the question shouldn’t be difficult to answer. A good questionnaire requires sensible language, editing, assessment, and redrafting. Questionnaire Design Process State the information required- This will depend upon the nature of the problem, the purpose of the study and hypothesis framed. […]
Mapping Customer Behaviour and Pattern is the starting point of E Marketing
Learning all about E Commerce and E Marketing is the pressing need of every student as well as every marketing and business manager. No one can afford to ignore the E Business channel and hope to grow one’s business the traditional way. Even if an Organisation continues to explore and grow its traditional channels of […]
Customers play the most significant part in business. In fact the customer is the actual boss in a deal and is responsible for the actually profit for the organization.
Customer is the one who uses the products and services and judges the quality of those products and services. Hence it’s important for an organization to retain customers or make new customers and flourish business.
To manage customers, organizations should follow some sort of approaches like segmentation or division of customers into groups because each customer has to be considered valuable and profitable.
Customers can be of following types:
These customers revisit the organization over times hence it is crucial to interact and keep in touch with them on a regular basis and invest much time and effort with them. Loyal customers want individual attention and that demands polite and respectful responses from supplier.
Loyal customers are the ones who will act as advocate for your organization.
More is the discount the more they tend towards buying. These customers are mostly related to small industries or the industries that focus on low or marginal investments on products.
Focus on these types of customers is also important as they also promote distinguished part of profit into business.
Handling these customers is a challenge as they are not particularly looking for a product and want the supplier to display all the useful products they have in their tally in front of them so that they can buy what they like from that display.
If impulsive customers are treated accordingly then there is high probability that these customers could be a responsible for high percentage of selling.
These are frequent customers but do not become a part of buying most of the times so it is difficult to satisfy them.
These customers should be handled positively by showing them ways and reasons to switch to other similar products and brands and initiating them to buy these.
These customers could possibly be lost if not tackled efficiently with positive interaction.
These customers are normally new in industry and most of the times visit suppliers only for confirming their needs on products.
They investigate features of most prominent products in the market but do not buy any of those or show least interest in buying.
To grab such customers they should be properly informed about the various positive features of the products so that they develop a sense of interest.
An organization should always focus on loyal customers and should expand or multiply the product range to leverage impulsive customers.
For other types of customers strategies should be renovated and enhanced for turning out these customers to satisfy their needs and modify these types of customers to let them fall under loyal and impulsive category.
Your email address will not be published. Required fields are marked *
