different from each other. Project 1: The first project at the Forum Mall was to analyze the reasons for the fall in the sales of the gift vouchers of The Forum Mall and to come out with a promotional strategy as there was no priory existing one. The promotional strategy was of two different types‚ one for the indivusal buyers and the other one for the corporate buyers. This project also included a training secession for the marketing team present at the forum. Project 2:
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7 C’s of Customer Retention Checklist 1. Caring Attitude Projecting a caring attitude through: tone of voice use of pleasantries (please‚ thank you) smile projection empathy language (minimal use of industry jargon) taking ownership going the “extra mile” on behalf of customer 2. Customized Practices Definition of customizing: treating customers as individuals at all points of interaction making exceptions to policies/procedures to meet individual customer needs empowering
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Why Customer Retention Is So Important Good customer retention is vital to any organization because a slight reduction (5%) in the customer defection rate has a disproportionately positive effect on profitability (depending on the cost of acquisition‚ ranging between 25 and 80 %!). Companies with high retention also grow faster. However‚ customers can only be retained if they are loyal and motivated to resist competition. When customers are merely satisfied with the service they receive they may
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Table of content 1.1 Explain Samsung Electronics strategic contexts and terminology – missions‚ visions‚ objectives‚ goals‚ core competencies.2-4 1.2 Review the issues involved in strategic planning for Samsung Electronics.4-7 1.3 Explain Samsung Electronics different planning techniques.7-10 2.1 Provide an organisational audit for Samsung Electronics.11-15 2.2 Carry out an environmental audit for Samsung Electronics.15-17 2.3 Explain the significance of stakeholder
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Loyalty Programs play a significant role in a company’s customer retention plan. They help motivate consumers in choosing a company over their competitors by offering monetary rewards or special treatment rewards to loyal consumers. Loyalty Programs were first introduced to Canadians in 1958 when A.J. Billes decided to boost gas bar business by giving away Canadian Tire ’Money ’. (Canadian Tire Corporation‚ 2010). Canadian Tire ‘Money’ is still a very successful loyalty program that millions of
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relations‚ feedback from the company on performance‚ a good work environment and safe workplace‚ job satisfaction‚ and training opportunities. While Baytech’s retention strategy aids them in maintaining a low turnover rate‚ their corporate philosophy is missing a few key elements compared to the drivers discussed in Chapter Two (figure1 pg4). Retention drivers such as career planning/advancement‚ job security‚ and fair‚ non–discriminatory treatment are all important elements in maintaining a low turnover
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IS351_Recruitment_and_Retention_Strategies Research recruiting and retention strategies at three different companies. What distinguishes one company from another in this area? Are strategies such as signing bonuses‚ tuition reimbursement‚ and business casual dress codes standard for new information technology workers? What strategies appeal most to you? Summarize your ideas in a two-page paper‚ citing at least three references. The first company I looked at was Johnson & Johnson. This company
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COMPENSATION AND OTHER EMPLOYEE RETENTION STATEGIES Abstract There are three human elements that are important to any organizations success - good leadership at the top‚ effective management at all levels‚ and personnel who possess the knowledge and skills to get the job done. Retaining effective employees is a challenge‚ and replacing employees who leave an organization is extremely expensive. Roger E. Herman’s book Keeping Good People – Strategies for Solving the Dilemma of the
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Product Strategy The product itself is the core of the brand equity‚ the design of a product able to fully meet the needs of the consumers‚ is a prerequisite for success in marketing. The design‚ manufacture‚ market‚ sales‚ transportation and services of product ‚ contains a strong‚ powerful and unique brand associations.Be able to establish a positive brand image‚ especially the perceived quality of the product is extremely important brand association will often influence consumers’ purchasing decisions
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Shree J.M.Patel Institute of Social Work‚Anand A survey on Employee Retention Strategy QUESTIONNAIRE onEMPLOYEE RETENTION STRATEGY Designation:- Name of the organization ;- Age group: a)18-25 b) 26-35 c)36-45 d)46-55 e) Over 55 Gender: a) Male b) Female 1. How is your relationship with the Reporting manager? A) Excellent B) Very good C) Good D) Poor E) Worst 2. Do you have Rewards and recognition on your achievements? Yes ()• No ()• 3. Is it important that appreciation
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