Is the customer feedback process effective

Assignment Help Business Management

Reference no: EM131227057

- Customer Satisfaction -Paradox of Choice

https://www.youtube.com/watch?v=VO6XEQIsCoM

Dr. Schwartz's basic premise is that too many choices do not necessarily lead to happier consumers. How do you reconcile this with the notion that role of marketing is to meet consumer's needs and wants. If consumers have multiple wants, isn't it the role of marketing to offer products to meet those needs? Explain and support your points with one or more examples.

- Customer Lifetime Value

1. What is Customer Lifetime Value?
2. Describe a situation where a company should focus on CLV to cultivate their customer relationships.
3. Describe a situation where CLV and customer retention will not be important.
4. Define and describe Database Marketing and CRM. What are the pros and cons of Database Marketing and CRM? Provide an example in which each approach is used effectively.

Personal Application

Discuss how the theoretical concepts covered during this week can be related to your organization. In particular try to address the following aspects

• Who are your customers?

• How does your company attend to or measure customer satisfaction?

• Is the customer feedback process effective?

• What additional steps the organization could and should take to better address customer expectations/needs?

- "Why Customers Matter" by Prof. Earl Sasser

Here is the link to a video lecture by Professor W. Earl Sasser on "Why Customers Matter."

https://epmedia.ebscohost.com/media/HarvardVideos/1490c/1490c.html

Readings

Discussion Topic

Marketing in Organizations

Required Reading

1. Definition of Marketing

2. Defining Marketing

3. Grainer, M., Noble, C. H., Bitner, M. J., & Broetzmann, S. M. (2014). What unhappy customers want. MIT Sloan Management Review, 55(3), 31-35.

4. Kotler, P., Calder, B. J., Malthouse, E. C., & Korsten, P. J. (2012). The gap between the vision for marketing and reality. MIT Sloan Management Review, 54(1), 13-14.

Reference no: EM131227057

Questions Cloud

Write a post on managing earnings : Write a post on Managing Earnings. What are two tactics that a financial manager can use to manage earnings? What are the implications for cash flow and shareholder wealth?

What is the impact that technology has had on our society : What is the impact that technology has had on our society? What would our world be like without it?

Write a paper on return on investment - education funding : Write a 3-5 paper on Return on Investment - Education Funding. Describe how and why you made the decision to pursue an MBA. In the description, include calculations of expenses and opportunity costs related to that decision.

Discuss trends significant to the industry and company : Monitoring competitors' performance is a key aspect of performing an external environment analysis. This assignment provides students the opportunity to evaluate the competitive position of one of the organizations listed below and integrate that..

Is the customer feedback process effective : Is the customer feedback process effective? What additional steps the organization could and should take to better address customer expectations/needs?

Find the currents through any voltage sources : find the currents through any voltage sources and the voltages across any current sources in the circuits shown in the figures indicated. Label nodes and meshes and define reference directions when needed. Assume the passive sign convention for al..

Six distinct numbers are randomly distributed : Six distinct numbers are randomly distributed to players numbered 1 through 6. Whenever two players compare their numbers, the one with the higher one is declared the winner.

Describe three characteristics of individual team members : Describe three characteristics/behaviors of individual team members that you think are most important for establishing a collaborative team environment.

Intervals will contain the true mean : You expect that approximately 95 of these intervals will contain the true mean IQ (100) and approximately five of these intervals will not contain the true mean. Use simulation in Excel to see whether this is the case.

User Account

All Pages