How Do Customer Relationships Give Companies A Competitive...

1. How do customer relationships give companies a competitive edge? (20%) Losing a customer means a lot more than losing a sale, it means losing the entire future stream of purchases that the customer would make over a lifetime of patronage. There are a number of reasons why a customer may stop buying from a company; very often though that reason is linked to poor customer service as opposed to something inherently wrong with the brand itself. Customer relationships give companies a competitive edge based on the merit that if consumers are happy more often than not those consumers will continue to do business with said company. A recent study conducted by TD Canada’s customer loyalty poll asked consumers which form of appreciation are†¦show more content†¦(20%) The business portfolio analysis uses quantified performance measures and market growth to analyze a firm’s strategic business units as though they were a collection of separate investments. The BCG advises clients to locate the position of each of its SBUs on a growth share matrix. The vertical axis is the market growth rate, which is the annual rate of growth of the specific market or industry in which a given SBU is competing. The horizontal axis is the relative market share, defined as the sales of the SBU divided by the sales of the largest firm in the industry. Each of the quadrants are given a specific name and description based on the amount of cash they generate. Cash cows; are SBUs that typically generate large amounts of cash, far more than they can invest profitability in their own product line. They have a dominant share of slow-growth market and provide cash to pay large amounts of company overhead and to invest in other SBUs. Stars; are SBUs with a high share of high-growth markets that mat need extra cash to finance their own rapid future growth. When their growth slows, they are likely to become cash cows. Question marks or problem children; are SBUs with a low share of high growth markets. They require large injections of cash just to maintain theirShow MoreRelatedHow Do Customer Relationships Give Companies A Competitive Edge? Essay1288 Words   |  6 PagesQuestion 1: How do customer relationships give companies a competitive edge? Through sustaining the customer relationships, leaders of the company have realized that â€Å"becoming nearer to the consumer† is vital for the progression. Together consumers and buyers of the trade have extra options through authorization from mobile and online channels that create more options to purchase, get and give suggestions, and converse back with the companies. Currently consumers freely turn away from any wellRead MoreFahad1373 Words   |  6 Pagesand e-commerce applications to gain a competitive advantage in an important market for your company. What reservations might you have about doing so? Why? As a manager you are responsible to be aware of these emerging technologies and new ways of conducting business in the new economy. Of course, if the manager is familiar with the concepts of developing an e-business or e-commerce application they certainly will have personal reservations in what to do. If the manager is not familiar withRead MoreThe Case Analysis for Clean Edge Razo Essay1261 Words   |  6 PagesThe Case Analysis for Clean Edge Razor: Splitting Hairs in Product Positioning Marketing Management MBA 812 B Jihang Yang (Elvis) September 27, 2012 Executive Summary Paramount’s newest nondisposable razor, Clean Edge, which from Paramount Health and Beauty Company injected a drop of new blood for the company. They feel very encouraging for the new product, because it gives the user a very great and all new feeling. And also it will be a competitive product in the razor marketing. ItRead MoreNetflix Inc Case Study1568 Words   |  7 Pagesan entertainment industry that provides millions of customers with a streaming service to television shows and movies. â€Å"Netflix was founded in 1997 by Reed Hastings and Marc Randolph in Los Gatos, California† (Hosch). In the late 1990’s, Netflix started to offer an online subscription service through the Internet, which changed the way we viewed movies and shows. In the mid 2000’s, Netflix mailed DVDs to their subscribers, and once the customer was done watching they would mail it back to NetflixRead MoreEssay On E-Business1392 Words   |  6 Pages Line of Business TeesforPeeps is a up and coming e-commerce business which allows people to design t-shirts per what they want. The main office will be located in Melbourne, Australia. With the latest in cutting edge technology and using the process of computer dye sublimation, you will have the opportunity to design your t-shirts to your liking. Here at TeesforPeeps, we believe that designing your t-shirts is a type of art and expression, whether it may be for sports, conventions, family or evenRead MoreConnecting With Consumers - Disney1555 Words   |  7 Pages Connecting with consumers - Disney Introduction Disney a name which brings smile on the faces of people of all ages, Walt Disney most commonly known as Disney is one of the world’s largest multinational media and Entertainment Company with its headquarter in Walt Disney studios, Burbank, California, United states. Walt Disney was founded as a cartoon studio on October 16, 1923 by two brothers Walt and Roy Disney. (10-K, Walt Disney) Current CEO and chairman of Walt Disney is RobertRead MoreGlobal Business Environment1489 Words   |  6 Pagesput in place in order to increase performance of the company (2013). When the strategies lead to a superior performance of a company relative to its competitors, then the company is said to be at a competitive advantage. This is a case study of Federal Express, in the small package express delivery industry. It analyzes the company’s value creation frontier and the necessary building blocks of competitive advantage are necessary for the company to maintain above average profitability. This paper determinesRead MoreDefinition Of Competitive Intelligence ( Ci )1135 Words   |  5 Pages1. Definition of Competitive Intelligence (CI). CI is ‘the collection of information, internal, external and from competitors, but also from customers, suppliers, technologies, environments, and potential business to provide early warning and help to predict the moves of competitors, customers, and governments’ (Calof and Wright, 2008, p. 723; Gilad, 1996). Competitive Intelligence is the process of collecting, analyzing, and distributing actionable intelligence about customers, producer, suppliersRead MoreCustomer Relationship Management ( Crm ) Essay1275 Words   |  6 Pages Identifying and Differentiate Individual Customers Most companies still cling to a product-centric view even today, basing their business strategies on revenue and their products or services instead of their existing or potential customers. In other words, companies focused on selling as many products as they could, with no regard for who was buying them and why. Customer Relationship Management (CRM) today has changed the way companies view from looking to not only improve their revenue and compensationRead MoreStrategic Plan, Part I: Conceptualizing a Business1108 Words   |  5 Pagesstrategic direction. Followed by an evaluation of customers need in giving the competitive advantages. Mission Statement Fortune Mobility Solutions is a mining corporation in hopes of becoming successful in the mining industry. The corporation mission is to mine resources for customers needing it for building material. Our goal is to find and mine the best material that will reach our customers high criteria and needs. We are based highly around our customers and the resources we mine. Fortune Mobility How Do Customer Relationships Give Companies A Competitive... Question 1: How do customer relationships give companies a competitive edge? Through sustaining the customer relationships, leaders of the company have realized that â€Å"becoming nearer to the consumer† is vital for the progression. Together consumers and buyers of the trade have extra options through authorization from mobile and online channels that create more options to purchase, get and give suggestions, and converse back with the companies. Currently consumers freely turn away from any well accepted company if it does not fulfill their necessities. Through the consumer associations, companies get the response regarding their services and products from the consumers. From this response, companies get the difficulties or the concerns of the consumers as regards to their product such as quality concerns, difficulty to usage, and etc. From the response of the consumers, companies make enhancements in their products as per the necessities of the consumers. From the approach or the associations with the consumers, companies get a chance to gratify their consumers and build up a competitive edge. This mechanism facilitates companies to stay with and goes ahead from their competition. Therefore, consumer relationships help the companies to make a competitive edge. (How to build a customer-centered organization to gain competitive advantage) Question 2: Describe the methods for marketing planning, including business portfolio analysis, the Boston Consulting Group marketShow MoreRelatedHow Do Customer Relationships Give Companies A Competitive Edge?1884 Words   |  8 Pages1. How do customer relationships give companies a competitive edge? (20%) Losing a customer means a lot more than losing a sale, it means losing the entire future stream of purchases that the customer would make over a lifetime of patronage. There are a number of reasons why a customer may stop buying from a company; very often though that reason is linked to poor customer service as opposed to something inherently wrong with the brand itself. Customer relationships give companies a competitive edgeRead MoreFahad1373 Words   |  6 Pagesand e-commerce applications to gain a competitive advantage in an important market for your company. What reservations might you have about doing so? Why? As a manager you are responsible to be aware of these emerging technologies and new ways of conducting business in the new economy. Of course, if the manager is familiar with the concepts of developing an e-business or e-commerce application they certainly will have personal reservations in what to do. If the manager is not familiar withRead MoreThe Case Analysis for Clean Edge Razo Essay1261 Words   |  6 PagesThe Case Analysis for Clean Edge Razor: Splitting Hairs in Product Positioning Marketing Management MBA 812 B Jihang Yang (Elvis) September 27, 2012 Executive Summary Paramount’s newest nondisposable razor, Clean Edge, which from Paramount Health and Beauty Company injected a drop of new blood for the company. They feel very encouraging for the new product, because it gives the user a very great and all new feeling. And also it will be a competitive product in the razor marketing. ItRead MoreNetflix Inc Case Study1568 Words   |  7 Pagesan entertainment industry that provides millions of customers with a streaming service to television shows and movies. â€Å"Netflix was founded in 1997 by Reed Hastings and Marc Randolph in Los Gatos, California† (Hosch). In the late 1990’s, Netflix started to offer an online subscription service through the Internet, which changed the way we viewed movies and shows. In the mid 2000’s, Netflix mailed DVDs to their subscribers, and once the customer was done watching they would mail it back to NetflixRead MoreEssay On E-Business1392 Words   |  6 Pages Line of Business TeesforPeeps is a up and coming e-commerce business which allows people to design t-shirts per what they want. The main office will be located in Melbourne, Australia. With the latest in cutting edge technology and using the process of computer dye sublimation, you will have the opportunity to design your t-shirts to your liking. Here at TeesforPeeps, we believe that designing your t-shirts is a type of art and expression, whether it may be for sports, conventions, family or evenRead MoreConnecting With Consumers - Disney1555 Words   |  7 Pages Connecting with consumers - Disney Introduction Disney a name which brings smile on the faces of people of all ages, Walt Disney most commonly known as Disney is one of the world’s largest multinational media and Entertainment Company with its headquarter in Walt Disney studios, Burbank, California, United states. Walt Disney was founded as a cartoon studio on October 16, 1923 by two brothers Walt and Roy Disney. (10-K, Walt Disney) Current CEO and chairman of Walt Disney is RobertRead MoreGlobal Business Environment1489 Words   |  6 Pagesput in place in order to increase performance of the company (2013). When the strategies lead to a superior performance of a company relative to its competitors, then the company is said to be at a competitive advantage. This is a case study of Federal Express, in the small package express delivery industry. It analyzes the company’s value creation frontier and the necessary building blocks of competitive advantage are necessary for the company to maintain above average profitability. This paper determinesRead MoreDefinition Of Competitive Intelligence ( Ci )1135 Words   |  5 Pages1. Definition of Competitive Intelligence (CI). CI is ‘the collection of information, internal, external and from competitors, but also from customers, suppliers, technologies, environments, and potential business to provide early warning and help to predict the moves of competitors, customers, and governments’ (Calof and Wright, 2008, p. 723; Gilad, 1996). Competitive Intelligence is the process of collecting, analyzing, and distributing actionable intelligence about customers, producer, suppliersRead MoreCustomer Relationship Management ( Crm ) Essay1275 Words   |  6 Pages Identifying and Differentiate Individual Customers Most companies still cling to a product-centric view even today, basing their business strategies on revenue and their products or services instead of their existing or potential customers. In other words, companies focused on selling as many products as they could, with no regard for who was buying them and why. Customer Relationship Management (CRM) today has changed the way companies view from looking to not only improve their revenue and compensationRead MoreStrategic Plan, Part I: Conceptualizing a Business1108 Words   |  5 Pagesstrategic direction. Followed by an evaluation of customers need in giving the competitive advantages. Mission Statement Fortune Mobility Solutions is a mining corporation in hopes of becoming successful in the mining industry. The corporation mission is to mine resources for customers needing it for building material. Our goal is to find and mine the best material that will reach our customers high criteria and needs. We are based highly around our customers and the resources we mine. Fortune Mobility