With the rapid growth of e-business it is no small wonder why businesses today are taking advantage of the online market. The overall convenience and lack of complexity with buying products and services online has converted most of the public to shopping via the internet. Any business that sells a service or product must strongly consider the fact that being without a website or means for the public to shop online will only hinder the business’ profits and any chance for future development. Many small businesses are realizing first hand that the lack of e-business will ultimately make their companies obsolete.…
The car industry is one that changes often because consumers’ wants and needs in a vehicle…
Oil prices have recently been rising and will probably continue to rise as the world’s oil sources are depleted. This could mean that there will be a fall in demand for regular fuel cars and a rise in demand for smaller more efficient cars. Honda is producing hybrid technology which will seem more attractive due to higher oil prices. Also, as consumer confidence returns to the US economy, fuel efficient SUV’s are also an alternative to consumers who aren’t comfortable driving smaller cars on America’s highways. As Honda adjusts its production to a more fuel efficient or hybrid/electric technology, they will have the potential to see increased revenue.…
The supermarket industry provides a good example of the way in which different groups of customers will have different expectations and needs. Some customers just want to buy standard products at the lowest possible prices. They will therefore shop from supermarkets that offer the lowest prices and provide a reasonable range of products. In contrast, some customers are looking for variety and quality.…
The internet has become the new path for providing customer assistance, providing a space for searching and shopping. As the technology is develops, clear advantages and disadvantages to customer service relationships have presented itself.…
What is the most important way the small business you have chosen meets customer needs?…
According to this book, to know your customer is the basis thing for a success business. A good way to learn to do something better is to observe in action those who do it very well. The company who know their customers better than anyone else has more chance to success. In order to know your customers first of all is to know what a customer is. There are several tips you should keep in mind:…
Customer satisfaction and loyalty are two important indicators for business. If organizations can meet customer expectations, it only can help improve customer satisfaction but not loyalty. However, if the quality can exceed customer expectations, it can help improve and sustain customer loyalty. There are tremendous practices for performance excellence in terms of customer focus. For example, identify different customer groups and understand their needs, create an organizational culture that encourages feedback and suggestion for improvement, provide various channels to get feedback from external and internal of the organization, and enhance customer relationships. It can help the organization identify the strengths and weakness of their service and products to improve their quality. There are five key dimensions of service quality, namely reliability, assurance, tangibles, empathy, responsiveness. Let’s take Lingnan Express (Canteen) as an example. The major customers are Lingnan students and teaching staffs. Customers expect to get satisfactory food in a low price in canteen which at least should be lower than fast food restaurants outside campus. Therefore, canteen provides HKD 12.5 Sang Shing Rice for students only and other Chinese fast food combo in a price range between HKD 23 and HKD 28. Even though the price is much cheaper than other fast food restaurants, the business of canteen is far from satisfaction. Thus, in order to boost its business, canteen provides various ways for customers to give feedback. For example, they invite students representatives from different years of study and student societies to have a meeting at the beginning of each academic year to know the needs of customers. Because of the adjustment of schooling schedule, students tend to have lunch after 2pm. Thus, canteen adjust their lunch time til 2:30pm and begin to provide afternoon tea afterwards. Canteen also ask the front line waitresses for advice to improve…
You are working for a consumer goods distribution company. Recently, the sales have gone down significantly. By premilinary investigation, he has found out that your products are not competitive in term of quality, price, design and attracted services. Your CEO has asked you to do a more detailed research on the business environment, you can utilize the model of 4C analysis or SWOT analysis.The combination of internal and external actors that influence a company's operating situation. The business environment can include factors such as: clients and supplers ; its competition and owners; improvements in technology; laws and government activities; and market, social and economic trends. A business is influenced by the environment in which it operates and the success of any business is dependent on its ability to adapt to its environment. The complexity of this reality for business owners is compounded by the fact that there are many different environments that each business operates within. There is the macro environment, which in today’s global economy refers to the whole world, where events often indirectly impact on businesses and there is the micro environment, local events and circumstances which directly affect and interact with a business. Product is replaced by Customer: You have to study consumer wants and needs and then attract consumers one by one with something each one wants.It is to create a custom solution rather than pigeon-holing a customer into a product. Pricing is replaced by cost, reflecting the reality of the total cost of ownership. Many factors affect cost, including but not limited to the customers cost to change or implement the new product or service and the customers cost for not selecting a competitors capability. You have to realize that price - measured in dollars - is one part of the cost to satisfy. If you sell hamburgers, for example, you have to consider the cost of driving to your restaurant, the cost of conscience of eating meat,…
The Internet has now become the best business tool in the modern scenario. Today, it has brought the world in one single room. Right from getting news across the corner of the world to accessing knowledge resources to shopping, everything is at your fingertips. The Internet has tremendous potential and a lot to offer in terms of services such as faster communication. The foremost target of Internet has always been speedy communication and it has excelled way beyond the expectations. Newer innovations are only going to make it faster and more reliable. Now, you can communicate in a fraction of second with a person who is sitting in the other part of the world. For more personal and interactive communication, you can avail the facilities of chat services, video conferencing and so on. Besides, there are plenty of messenger…
Technology innovations are happening with remarkable speed. But still, most of the businesses lack in keeping up with the latest tech trends. As a result, they could not satisfy customer demands at times. There is nothing more powerful than making customers feel happy about your services. In this scenario, business-customer relationship plays a crucial role. Many customer calls comes in, but due to poor communication system businesses lose many valuable customers.…
V Anbu, who has been running 'Moon Holiday' massage parlours in T Nagar and Uthandi…
We have embarked on this journey to make Customer Centricity the business model for how we operate. You would have recently gone through the Customer Centricity Training. Customer Centricity is a continuous journey to keep Customers at the center of everything we do.…
A restaurant or luncheonette is an establishment which prepares and serves food and drink to customers in return for money. Meals are generally served and eaten on premises, but many restaurants also offer take-out and food delivery services.…
Shell Bank is a bank which is incorporated in a country where it has no physical presence and is unaffiliated to any regulated financial group. Shell banks are not permitted to operate in India. Banks should refuse to enter into a correspondent relationship with a 'shell bank'…