These perceptions extensively influence their decisions on their interests to purchase from, work with, and market or support these companies. In the present competitive market and unpredictable economic environment, customer value may be an organization’s greatest asset – an aspect that makes a company to survive and beat their competitors in the market. Therefore, effective customer value is crucial to aid the company manage its public image by communicating and establishing strong relationships with other companies and stakeholders. This paper will investigate how Deutsche financial company in Australia can add customer value and importance of customer value in maintaining the competitive advantage of an organization. Additionally, it will investigate different ways of enhancing customer value to enhance the profitability of an enterprise. Background Customer value is an effective concept of marketing and business that aims at analyzing the customer satisfaction from the products and services provided. Customer value attempts to analyze the tendency that clients will turn out to be a permanent customer offering an ongoing organizational business. Our organization analyzes the value of customers to strengthen the customer base, investigate performance of product and effectively market products. The value of customer is a crucial means in which the board has always wanted to attain satisfaction of customer. The competitive nature of the business and government policy is an external issue that brings the issue before the board to increase the repeated purchase and increase the competitive advantage of the organization. Satisfaction of customers has been the main aim of the organization because of market saturation (Barnes, Blake and Pinder, 2009, p. 37). The board agrees that growth is mainly possible through market share attainment, from rivals. In addition, when clients perceive the value of customer to be extensive, they always share the experience and spread the public image of the organization via a word of mouth, leading to increased sales. The value of customer has occurred since the business world inception and customer loyalty is significant factor of business in various industries. Various 1990s studies have revealed that organizations can utilize value of customer to enhance the margin of business. Similarly, applied market literature suggests increased expectations for strategies of building loyalty. The theory of expectations-confirmation of satisfaction of customer suggests that satisfaction of customer about a service and product is centered on the expectations of the clients for such products, together with the expected product performance. The value of customer exploration tries to measure clients’ satisfaction; methods entail investigations about satisfaction or customer disconfirmation. Disconfirmation happens when expectations of customer differ from the possible satisfaction that products can offer. Negative disconfirmation suggests that services do not satisfy the expectation of the customers, while positive disconfirmation indicates customer expectations are met. Discussion Financial services is an increasingly developing worldwide industry and entails various products and services types such as those related to insurance, management of funds, banking, trading of securities and superannuation. Irrespective of the form of market, marketing role has a crucial popular significant theme – that is to create critical value of customer which is more effective over the available alternatives whereas at the same time establishing organizational value. Marketing
Every company mainly relies on its reputation for success, existence and customer value.Clients,workforce,communication networks and regulators may have a fundamental effect;they all have crucial views concerning the companies they interact with every day…
The business environment has undergone tremendous transformation over the last few years. There has been a fundamental shift from just concentrating on economic profitability to a business mode. The key to competitive advantage is through value creation and addition to the offerings to the stakeholders.
Prior to considering formal proceedings in the court and real justice confines, diversion occurs to be a community-based act wherein a more social than legal work is employed upon a delinquent individual in the hope that moderate cases of misdeeds could find resolution beyond severe judicial settings (Juvenile Justice Bulletin).
Evaluate the extent to which a sustainable and green approach to marketing can add positively to the bottom line in an age of consumer confusion and possible indifference. In today’s world, consumers are being bombarded with a multitude of products and services with the entailing cacophony of messages that vie for attention.
Purpose The overall purpose of this paper is to inform the Board about adding customer value to our bank in order to achieve the competitive advantage. Through this Board Paper, worthy members of Commonwealth Bank’s Board will contemplate upon the creation of competitive advantage for the bank by adding customer value.
In the process, branch boundaries have been eroded and new business entities and models have emerged. However, all these did not just happen. A sequence of events took place, which was highly characterized by opportunities to expand business segments. This has been achieved through development of innovative products and services in order to diversify the market and to attract valuable and potential customers.
Conversely, an efficient customer service excellence can be considered as one of the major critical success factors towards achieving competitive advantage across all business industries. This is due to the reason that it creates broad array of opportunities for an organisation to preserve its various customer segments with the intention of attaining organisational goals successfully (Centre for Good Governance, n.d.).
This suggests that there is no an absolute guarantee of long-term sustainability for Apple. As such, it is recommended that Apple select a diversification strategy that is supported with a marketing strategy that involves concentrated promotional development, staying true to interactivity and relationship development through transparency and social media, and linking the new business structure to its existing reputation for competence and trust that has been long-standing with customer markets and non-customer markets.
According to Kaptan (2003), if this confusion, indifference and discontent are not dealt with successfully, any relief created will be transitory and that later on new symptomatic issues and complaints would arise.
These perceptions extensively influence their decisions on their interests to purchase from, work with, and market or support these companies. In the present competitive market and unpredictable economic environment, customer value
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