Customer Retention Strategies The easiest way to grow your customers is not to lose them The average business loses around 20 percent of its customers annually simply by failing to attend to customer relationships. In some industries this leakage is as high as 80 percent. The cost‚ in either case‚ is staggering‚ but few businesses truly understand the implications. Imagine two businesses‚ one that retains 90 percent of its customers‚ the other retaining 80 percent. If both add new customers
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Conclusion In today’s world customer satisfaction is one of the most important elements in doing business. It is important for a manager to recognise the weak points‚ so that these can be improved. This report exemplifies the most important variables which influence the customer satisfaction of Subway. Field research has been done in the form of a questionnaire. Consequently‚ the data was analysed and the research question was answered. The variables used for this research are: Age‚ gender‚ income
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Analysis of the factors of Local Responsiveness shows us that the cement industry generally does not have high pressures for localizing their product. These pressures are medium at the most. Even though there can be some noticeable differences in consumer demands from developed and emerging markets‚ e.g. bulk vs. bagged cement‚ these
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licensed‚ expansion restricted and locations for setting up plants decided by the government. Two wheeler productions were under a lakh during the 70’s and iconic brands like Royal Enfield’ s bullet and Bajaj Auto’s Chetak won the hearts of Indian consumers. "There was dowry and chetak. Dowry was bad and chetak good‚� says Rahul Bajaj‚ chairman‚ Bajaj Auto After almost decades of a monopoly for Bajaj Auto‚ things began to change. The 70’s and 80’s saw new manufacturers like LML Scooters India and
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arayan das9-503-060 MAY 9‚ 2003 DAS NARAYANDAS Customer Management Strategy in Business Markets This note is written for students‚ executives and educators that are interested in customer management in business markets. It is based on my field investigations across a variety of hightech and traditional hard-hat industries and provides a roadmap for the formulation and implementation of effective customer management strategies in business markets.1 Individual customers are at the heart
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Introduction This paper covers the best available practice for Measuring Customer Satisfaction‚ how it relates to my organization’s current practices for measuring satisfaction of customers and provides a detailed analysis of our current trend in meeting or exceeding these best practices. Customer satisfaction measurement allows an organization to understand the issues‚ or key drivers‚ that cause satisfaction or dissatisfaction with a service experience. When an organization is able to understand
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PUTTING THE SERVICE-PROFIT CHAIN TO WORK “When companies put employees and customers first‚ their employees are satisfied‚ their customers are loyal‚ their profits increase‚ and their continued success is sustained.” Harvard Business Review‚ March-April 1994. There is growing number of companies that includes Banc One‚ Intuit Corporation‚ Southwest Airlines‚ ServiceMaster‚ USAA‚ Taco Bell‚ and MCI know that when they make employees and customers paramount‚ a radical shift occurs in the way they
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Reconciling and Clarifying CLV Formulas Peter S. Fader www.petefader.com Bruce G. S. Hardie www.brucehardie.com † March 2012 1 Introduction A standard part of many contemporary Marketing courses is a case or exercise in which students are expected to compute customer lifetime value (CLV). Typically they are given an average retention rate r‚ an average net cashflow of $m per period (having accounted for “account maintenance” costs)‚ and an assumed discount rate d. Given these inputs‚ they are
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1. How does IKEA generate customer loyalty? IKEA obtains customer loyalty by continuously maximizing customer value with greater customer benefits and less customer costs. First of all‚ it offers customers leading-edge Scandinavian design at extremely low prices. IKEA has grasped the attributes and benefits that their customers look for‚ which are high quality‚ fashionable design and convenience with low price. It can offer these because it adds the country of origin effect to its products‚ for
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BEKAM TREATMENT CENTRE MISSION To tell other people the benefit of doing traditional as alternative treatment such as BEKAM. CORE VALUE Hygiene (sterilised equipment) Safe (not using blade) Syariah compliance (Male treat by male‚ women treat by women) Truthful / Honest (No hidden charges) Sincere (Advise based on the ‘’blood’’ structure) Economic (lowest price) VISION To introduce BEKAM as first choice treatment. SWOT Strength Certified Praticioner 10 years experience (Part-time8
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