Module 01 Discussion - Customer Value and Satisfaction Companies can build custo

Question

Module 01 Discussion - Customer Value and Satisfaction

Companies can build customer relationships at many levels, depending on the nature of their target market. The goal of customer relationship management is to create customer satisfaction. Satisfied customers remain loyal and purchase more from the company.

There are some product categories that have an increased susceptibility to "brand hopping." Laundry detergents, household cleaners, and similar products traditionally gain and lose customers with price fluctuations.

For your discussion, describe how laundry detergent brands can develop customer relationships and create lasting customer value. Share your thoughts on strategies that can be implemented to develop customer loyalty. Be Specific! Then provide thoughts and feedback on one other student's post. How were your thoughts and ideas similar or different? Be specific!

Explanation / Answer

A laundry detergent brand, just as any other business, needs to maintain its relationship with its customer base, this is, in fact, the reason why brands invest in total management solutions which includes CRM (customer relationship management). Utilizing such a system, the management can set up practices and policies which the business can then follow which will allow the business the functional aspect that it requires in order to be fruitful for the company. This will be done by training the employees to respond to the needs of the customer better. Surveys and feedback system will be employed in order to create and gather what the customer's needs from the brand, the product if they are happy with the services provided by the brand and how the brain can change. Utilizing this information in a forecasting/managerial software, a brand can essentially determine the best course of action, using the CRM in order to allow them to cater to the needs of the customers. Especially if we take into account the functional aspect of this relationship. We can see that the company would necessarily require the use of training, change in structure, backend support, better designing of the products as well as promotion and placement of their products better in order to appear viable in the eyes of the consumers as well as create a brand value the people can relate to. This is what it means to utilize a complete customer relationship management system.

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