Customers Response and its Advantages
April 3, 2025
Customers Response and its Advantages
Customer response is the reaction by the organization to the queries and activities of the customer. Dealing with these queries intelligently is very important as small misunderstandings could convey unalike perceptions. Success totally depends on understanding and interpreting these queries and then working out to provide the best solution. During this situation if the supplier…
Customer Relationship Management (CRM) and HR
Human Resources are those constituents of an organization that take care of the human facets and needs of all employees within that organization. Key functions of HR in an organization are- Employee recruitment and selection. Compensation calculation and reward program management. In-house training for all employees according to skill sets. Performance calculation and managing employee…
Customer Retention Strategy
Following are some of the important strategies that should be implemented for increasing customer retention: Changing Retention rates: There are two basic strategies for changing retention rates: Fixed response higher spending: Retention rates can be substantially increased by spending more on creating new business strategies or remolding existing strategies to increase retention rates. Fixed spending…
Orientation of customer means how the customer’s preferences are possessed or in what areas of business the customers are conscious. A customer can be cost oriented, value oriented or technology oriented as discussed below:
For example, some customers try to repair costly machines by local vendors. These vendors do the work with marginal profit, so accountably are very cheap, but whatever they do is not quality work as they are not the actual manufacturer of that particular product and may lack in many aspects while repairing the machine. In case the machine fails the second time, these customers put the blame to the original supplier and he then has to pay for that. In some cases these customers are also ready to buy second hand products and then challenging it to perform as a new one.
Hence the suppliers should always focus on strategies which are not only performance or quality driven but also self driven, otherwise they always find themselves arrested in payment related problems and they again have to put a lot of effort and cost on running for payment from these customers.
According to these customers this type of deal is like a long term investment with higher future profit. In some cases these types of customers are also ready to pay premium because they know that this would make a better economic sense during a long run and there will always be lesser maintenance efforts required. These customers are tended towards maintaining a healthy relationship with suppliers as they are the satisfied customers.
These customers are innovative and have zeal towards technical aspects. They also have a tendency for experimenting new things and do interact with people of same nature or tendency, so the suppliers are helped by them in creating new referrals and increase the business. These customers are also satisfied customers and ends by making worthy relationships with suppliers.
It is necessary for a supplier to study the orientation of customers before dealing with them as it will help them to identify the specific customer needs and transact accordingly. By identifying the orientation of customers the suppliers could easily make their strategies to grab customers by fulfilling their aspirations and turn them to satisfy customers.
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