How does an organization create customer value - 1202 Words

How does an organization create customer value? Marketing experts Don Peppers and Martha Rogers said: â€Å"Without customers, you don’t have a business.† It is such a simple, nevertheless, a scary thought. We live in a world of consumerism, in which the customer’s wants and desires greatly exceed their basic needs. Even though many see this concept as a threat to modern world society, it has created the extremely competitive marketplace for businesses. The companies are competing everyday to win over as many customers as possible by offering products that create irreplaceable value and benefit to those customers. Many companies will succeed in getting the customers to buy into their value and benefit however, the true success of a business†¦show more content†¦Many people don’t like to hear complaints, but when there is money involved there will be complaining. The first step in making the company valuable to the customer is by making complaints easier and more accessible. By doing this the c ompany makes it personable, consequently creating the value of importance for the customer instead of making them just a number. Benjamin Franklin said, â€Å"Well done is better than well said†. Companies might say they will make it personal and resolve the issue, but then you are put on hold for thirty minutes when you call in for a complaint, or your car might have to stay in the shop two days longer than anticipated. When inconveniencing the customer in moments like these, any effort to help the customer resolve the issue thereafter may be futile. That may very well be the last time the company will deal with that particular customer. The second step in creating value for the customer is the speed at which the issue will be resolved. It might sound clichà ©, but time is money, and an attorney that has to be on hold for thirty minutes might have lost the opportunity to earn two hundred dollars. He might take it personal and go to your competitor. According to Kotler Kel ler (2009), â€Å"Of the customers who register a complaint, between 54% and 70% will do business with the organization again if their complaint is resolved. The figure goes up to a staggering 95% if the customer feels theShow MoreRelatedCreating Customer Value1348 Words   |  6 PagesMarketing Assignment: How does an organization create customer value? Description Marketing is one business function that deals with customers. Creating customer value and satisfaction is at the heart of modern marketing thinking, concepts and practice. ThisRead MoreThe Value Proposition Of My Company Essay1314 Words   |  6 Pagessentence of less than 20 words, what benefits does your idea deliver to buyers/users? My idea is to create a computer software company that creates cell phone applications and website for people. 2 What is the Value Proposition that your company or organization offers to solve customer problems and satisfy their needs? 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