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Customer Satisfaction - A continuous Process

Its after long holiday for my scribbling I felt like writing this on  a holiday today .Also I believe customer satisfaction never has a holiday in the entire sales process . I was given this topic yesterday at an office sales event unfortunately due to overflow of thoughts and lack of time I couldn't cover all .I thought I should pour it all here as its something that everyone would have experienced and experience.Whenever It comes to customer satisfaction , in the sales cycle it comes after acquiring the customer as we define the other as "suspects and prospects".Though technically it is right I strongly believe it comes even before at the stage of segmenting and targeting the right market.Most of the times defining the target customer means we define their needs,wants and pain points .Unless we define this properly later we cant satisfy them as we would have acquired a wrong customer or be in a wrong market with focus and core- competency on something else.Also we have...

Suicidal Branding

Over years we have seen Corporates talking more about Branding.I see three faces broadly here in an Organisation's growth Path. Stage One: Company in its Start up stage wants to differentiate itself from its competitors and give extremely good Service levels to its customers to kill competition.There is a continous focus on Innovation ,Value Addition etc.Most of the time size is also small and it is quite Manageable.In this phase most of the time branding evolves through automatic route merely through customers Word of Mouth(WoM).Most of the companies later dont realise it is this Fundamental "quality of Service-Innovation-Value addition " is the core of Branding. Stage two: The second Phase is when a company is in Matured/Post Growth state where it looks for Market Expansion.Now Company thinks about Branding investment because it understands that WoM Cant cut across geographies/industries effectively.Capitalising on the WoM and Branding Initiatives companies Grow More an...

Emotions-Foundation of Branding

I often go through various books on Branding and try to understand the way it is being created and taken to Nirvana.I now started feeling that a brand hovers around one simple Funda called "Emotions". I beleive if you are able to "Create,Communicate and Deliver Logical valuable emotions consistantly at every interface of Target Customer" you are in the right path of the Brand Mission. Consider any product say for example a bajaj pulsar , if you just communicate the benefit it is one another bike of bajaj.It started communicating emotional aspect of masculine,Bold targeting youth and pulsar is like a standalone brand now. Some Experts comment "Brand Loyalty is a myth".However a Brand Built on Strong Emotions have logical psycological sense to have loyalty toward that. Loyalty is an Emotional Factor and it can be created by consistent delivering of tangible and intangible value to the customer. Consistent delivery of Tangible values can create Likingness but...

GLOBALISATION –REDEFINE YOUR MARKETING WORLD

It happened recently when I went to my uncle’s house in Chennai that his one year old daughter stopped crying when she listened to Jennifer Lopez and started dancing itself within the small arena built for it, the cradle. If I have to approve the definition for globalization in wikepedia I would say this is the perfect one. Yes, friends the impact of globalization is felt in each and every corner of this world but as a management student and more precisely a marketing student I was giving a thought is there this globalization has something to change with our traditional marketing views and concepts. I felt yes and it forced me to fill my pen once again. If I have to see globalization I would see it as “Dealing with Differences”.oh! That’s a great task for every marketer you know. Anything in this world is termed difficult when it has uncontrollable in it. These uncontrollable play a very important role and this makes a marketer to see globalization as a threat. The uncontrollable comes...

COKE- A SAGA NOT A BRAND

SOME OF THE KEY SUCCESS FACTORS FOR COCA –COLA  Brand image There are two schools of thoughts one says a brand can be built and other says a brand is evolved.whats right is not our issue now however a brand signifies one word called “trust” the consumer have on that brand. A trust can’t be built over night. It’s a saga. Coke has its history of about more than a century and this prolonged sustenance has definitely added to the brand image in the minds of the consumers and to its wallet.  Brand associations. Throughout its history it was really excellent in associating the brand with right celebrities, right personality, right colour etc.the campaigns like “tanda mat lab coca cola” best describes the intangibles associated with that in India.  Brand extensions: It capitalized on its brand equity by extending into mineral waters and other flavors of coca-cola at right time. It acquired a company called minute maid corp. and introduced Fanta (1960), sprite (1961) and tab in 1963.it brok...

MARGINAL UTILITY AND CONSUMER BEHAVIOR

INTRODUCTION: Demand theory is the basic of managerial economics and the concept of marginal utility plays a very important role in understanding the demand theory. Before entering into marginal utility its better to understand what is “UTILITY”. WHAT IS UTILITY? It is whole boutique of benefits or satisfaction that an individual gets in buying and using a service or product. In simple words it is aggregation of benefits and satisfaction. Let us discuss by relating to practical situations. Lets take an example of star bucks the very famous coffee outlet in us. What a customer gets in going for star bucks. It’s not only the coffee (the product as benefit) but also the experience, which are ambience, convinience and prestige in taking a coffee over there. He gets satisfaction in terms of emotions and product. That is why he is willing pay also a premium for the same product coffee at star bucks. WHAT IS MARGINAL UTILITY? It is nothing but the extra benefits and satisfaction that an ind...

Positioning -A concept of Marketing or concept of life

Positioning at bus stop I was waiting in a bus stop as usual to go out for shopping. There were few more college students standing along with me and I could see some curiosity and eagerness in their silent whispers. I understood they are waiting for some local aiswraya rai (of course I have crossed those times of whispers in my life too).I was watching them. I love analyzing people and emotions and i got a food for thought that time. suddenly every guy in that group started behaving differently, one took his mobile and started his US accent English with some caller on the other side (hope genuine or he was talking to recorded voice in customer care, sorry I am not a mind reader), the other adjusting his coolers and the last had nothing except a cigarette and he lighted that in his own style. What are they trying to do? To impress that girl. To position themselves in the mind of that girl. To put in marketing terms to capture the mind space of the prospect. Let’s now correlate this situ...