Understanding of Marketing and Strategy

Document Type:Thesis

Subject Area:Marketing

Document 1

From the projection of the values, I think that client is the most valuable as he is likely to spend more in future. The customer is also likely to bring in more clients to the coffee shops as he often visits in the company of co-workers that are either family or friends. The trend is likely to enhance the customer base of the business. Instead of understanding the value of a customer by checking the trend in profits, there are methods used to calculate the lifetime value of a customer. There are a number of methods used to understand customer’s lifetime value to a company. This can be done by conducting after purchase survey in order to identify ways of improving the customer’s satisfaction.

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There should be a communication strategy that is maintained by the company and the client that can be used in communicating new products and make him feel part of the company. The expansion will be possible given that the customer often visits the coffee shops to treat his co-workers or family and friends. This can be done by improving the quality of service to the given client and ensuring the accompanying customers also appreciate the products and service leading to them also becoming regular customers. Question 2 The use of sustainable competitive advantage has been widely used to improve market share and drive sales. The move of facing the criticism head-on will lead to a change in attitude towards the brand. The building of a relationship with customers will require the company to develop offerings that speak its brand in a manner that communicates to the customers.

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The company can start developing initiatives such as providing loyalty gifts that will attract more people to the brand. For instance, reward schemes can be given depending on the customer value and lifespan. This will attract more clients that lead to an improvement in market share of the company within a short time. The final step in revamping the brand, offering, and relationship, the company has to ensure that its operations are efficient and transparent. For instance, the company should not hide away from negative comments. It should also device new methods of communicating with its customers such as the use of mobile applications that allow real-time communication with clients as they share their experience. The top management should take into serious consideration the mentioned steps in order to propel the company to success in the shortest time possible.

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