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Maximize Customer Satisfaction Paper

Words: 1432, Paragraphs: 14, Pages: 5

Paper type: Essay , Subject: Customer

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The ultimate goal of a customer-oriented organization is to maximize its customer satisfaction. This topic is about the relation between the profit of a customer-oriented organization and its customer satisfaction. “The customer is KING. ”. It heralds the emergence of new business paradigms that will keep pace with a world rapid changing under the impact of development. The following word will show what are the changes of marketing, what is the customer satisfaction, why the customer satisfaction is important, what is the customer-oriented organization, how to be a customer-oriented organization using the knowledge of marketing.

Marketing is an organization function and a set of processes for creasing, communication, and delivering value to customer relationships in ways that benefit the organization and its stakeholders. (David L. Kurtz & Boone 2010, Principles of contemporary marketing PP7) Marketing creates form, time, place, and ownership utilities. Form–production of the good, driven by the marketing function; Time–make product available when customers want to buy the product; Place–make product available where customers will buy the product; Ownership (Possession) –once you own the product, do what you want with it. (http://www. udel. du/alex/chapt1. html, 16-11-2010) Marketing has been a part of business; its importance has varied greatly. Marketing has four eras in the history: the production era, the sales era, the marketing era, and the relationship era. The production era: The prevailing attitude of this era held that a high-quality product would sell itself before 1925. The sales era: In this era, firms attempted to match their output to the potential number of customers who would want it in about the 1920s to 1950s. The marketing era: Marketing concept is company-wide consumer orientation with the objective of achieving long-run success.

Marketing Orientation Era

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The relationship era: This era in the history of marketing emerged during the final decade of the 20th century and continues to grow in importance. Relationship marketing involves developing long-term, value-added relationships over time with customers and suppliers. (David L. Kurtz & Boone 2010, Principles of contemporary marketing PP9-11) Now the main era is still in the marketing era. Marketing does not occur in a vacuum. The marketing environment consists of external forces that directly or indirectly impact the organization.

We have some environmental forces: societal, political, economic, competitive, and technology. Societal Forces: Pressure to create laws Since marketing activities are a vital part of the total business structure, marketers have a responsibility to help provide what members of society want and to minimize what they don’t want. Societal forces pressure political forces to create legal forces governed by regulatory forces. Political Forces: Forces in the marketing environment that are shaped by elected (and sometimes appointed) officials that impact the decisions made by a business organization.

Government officials can enact laws that could cause serious harm to specific business sectors. For example, a state that passes laws prohibiting off-shore drilling would dramatically affect oil drilling company’s business outlook. Through environmental scanning a business looks at these political forces that might affect them in the short and long term. Economic forces: Marketers may need to adjust their marketing mix as the economy passes through different stages.

Customer-oriented organization is one that allows the wants and needs of customers and potential customers to drive all the firm’s strategic decisions mind is that has the business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them. Today, the marketing era is also the most important era, although it has had four eras. The organizations build on the marketing era’s customer orientation by focusing on establishing and maintaining relationships with both customers and suppliers. http://www. wordiq. com/definition/Marketing_orientation, Marketing orientation– Definition, 16-11-2010) Marketing mixing is a framework which helps to structure the approach to each market. The mix is a bundle of variables which are offered to the customer. These include the product or service itself and the price which should be charged. In 1960 Jerome McCarthey presented the 4Ps to the world. Product: This means the product’s or service’s quality, the functions, the features and benefits of its design plus packaging, guarantees and level of after-sales service.

Choices can be made about any of these aspects. Price: It includes recommended prices to end-user customers, distributor’s trade prices, cash discounts, bulk discounts, terms of credit. Place: It means where and when the customer buys and consumes the product or service. Place is sometimes referred to as the marketing channels, physical distribution, logistics or location. Promotion: It means the promotions mix or the communications mix. This mix includes advertising, sales promotions, publicity, direct mail, exhibitions, display, packaging, selling and even word-of-mouth.

Customer satisfaction, a business term, is a measure of how products and services supplied by a company meet or surpass customer expectation. It is seen as a key performance indicator within business. Customer lifetime value: This phrase relates to a very simple concept. Every interaction you have with a customer should be done on the basis that their value to you is the total of all the purchases they will ever make, not that one sale.

For example your most valuable customers are probably not those who make the biggest purchases, they are the ones who come back again and again. This way of thinking also allows you to consider marketing approaches that do not require you to make back he cost of acquiring a customer in a single sale; The cost of acquisition: It has been demonstrated that it is up to 20 times more expensive to acquire a new customer than it is to keep an existing one. A traditional sales approach can be likened to pouring new customers into a bucket with a hole in the bottom-the weaker your levels of customer retention the larger the hole. http://www. saferpak. com/csm_articles/Customer%20satisfaction_%20loyalty%20and%20profit. pdf, Customer satisfaction, loyalty and profit. understanding the links between service and the bottom line, 16-11-2010) Excellent service organizations intensively study the key drivers of people who use their products. Key drivers are the needs, wants, and expectations that are most important to customers, and they should be part of the organization’s knowledge base. The best way to learn these key drivers is to continually and carefully study customers.

Many managers think they understand the factors that contribute to customer satisfaction and intent to return. Most times, however, management’s perception does not represent the customers’ point of view, creating a disconnect between what managers think consumers prefer and what consumers actually want. (http://onlinesuccesscentre. com/tag/key-drivers-of-customer-satisfaction/, “Customer Relationship Management. 8 Common goals for a CRM Program. What are Key Drivers Of Customer Satisfaction? ” 18-16-2010) There are three steps to build customer relationships:

Determine mutually satisfying goals between organization and customers; Establish and maintain customer rapport; Produce positive feelings in the organization and the customers. (http://www. businessballs. com/crmcustomerrelationshipmanagement. htm,18-11-2010 ) The organization should build up a “Customer-Centric Business Structure”: Customer segments that the organization wants to excel and dominate; the unique value targeted customers receive through our products and services; the critical few things that must be done well to deliver the customer value; basic building blocks to enable the creation of such critical capabilities. http://doc. mbalib. com/view/24c1de252959a991d26e421ea6a464b6. html,16-11-2010) Customer service deals with a wide range of practices used by businesses to make their customers satisfied. These practices can range from polite and friendly service to going the extra mile to ensure satisfaction is achieved. Many businesses, especially smaller ones, refer to this as the key factor in the development and success of their business.

Companies that strive on developing these techniques always prosper over their competitors. There are four benefits of an effective customer relation management strategy: The organization increases profit. Business studies tell that the longer the company keeps a customer, the more money it will make in the long run. This is due to the fact, that customers always spent a little money in a new business relationship, and a lot more – when the business deals are running smoothly.

The organization will survive in a competitive market. Effective customer service has grown in business for staying. With an increasing globalization, faster competition and a fast running technology and the reducing of trade barriers, competition is fierce. There are several suppliers around the world, eager to make business and to snatch your customers and the opportunity to satisfy customers. If you do not deliver to the customers – you will not survive. The organization will reach a higher

About the author

This paper is written by Sebastian He is a student at the University of Pennsylvania, Philadelphia, PA; his major is Business. All the content of this paper is his perspective on Maximize Customer Satisfaction and should be used only as a possible source of ideas.

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