lOMoARcPSD|5734770
Marketing Management (BUS 5112) Portfolio
Activity, week 2, Bus 5112
oARcPSD|5734770
Provide some customer retention strategies which benefits organizations
We often make mistake in spending huge amount of budget in acquiring new customers,
while as per the research it became clear that retaining existing customers is the most
important thing to be done by organizations. As per the results from the research
customers would be more loyal in case when they feel satisfied with the process, products
and services. Akaeze, N. (2017)
Some of the retention strategies in case of Automobile industry would be like the
manufacturers should understand that customer satisfaction towards the dealership brings
loyalty towards the brand. All the touch points with a potential customer should be
carefully examined and changed in order to make the potential client feel better.
After the sales also, timely follow up, surprise offers and great after sales service should
be offered to the customer in order to retain these customers. Ultimately a happy customer
brings ten more new customers. Treating the existing customers as the brand ambassador
would be the best strategy for customer retention. (Dr. Vivek Bindra: Motivational
Speaker, 2018).
What actions are involved before the final decision to buy or consume a product and
service?
After a consumer is prepared financially and emotionally to buy a car they perform various
actions until they actually buy as it falls under the complex buying behavior. Buying a car
might be people's life long dream. Lots of emotions are attached with it. The
Marketing Management (BUS 5112) Portfolio
Activity, week 2, Bus 5112
oARcPSD|5734770
Provide some customer retention strategies which benefits organizations
We often make mistake in spending huge amount of budget in acquiring new customers,
while as per the research it became clear that retaining existing customers is the most
important thing to be done by organizations. As per the results from the research
customers would be more loyal in case when they feel satisfied with the process, products
and services. Akaeze, N. (2017)
Some of the retention strategies in case of Automobile industry would be like the
manufacturers should understand that customer satisfaction towards the dealership brings
loyalty towards the brand. All the touch points with a potential customer should be
carefully examined and changed in order to make the potential client feel better.
After the sales also, timely follow up, surprise offers and great after sales service should
be offered to the customer in order to retain these customers. Ultimately a happy customer
brings ten more new customers. Treating the existing customers as the brand ambassador
would be the best strategy for customer retention. (Dr. Vivek Bindra: Motivational
Speaker, 2018).
What actions are involved before the final decision to buy or consume a product and
service?
After a consumer is prepared financially and emotionally to buy a car they perform various
actions until they actually buy as it falls under the complex buying behavior. Buying a car
might be people's life long dream. Lots of emotions are attached with it. The
