MKTG 2030 Lecture Notes - Lecture 2: Loyalty Program, Voice Of The Customer, Walkman
Document Summary
Winning companies develop a deep understanding of their customers" needs. Avoid mistakes made by companies that do not understand needs. Companies that do not base their decisions on customer needs make some common mistakes that cost them time, money, and resources. In organizations where there is no clear and widely shared understanding of customer needs, organizational silos exist. In these businesses, each function does its own thing, often with negative consequences. Meet companies that win by developing a deep understanding of customer needs, and learn the valuable lessons they offer. Took research on customers to understand what they were buying/not buying and why. Loyalty card data showed them what customers were buying. Survey research showed them what customers were not buying and why. Since young mothers trusted pharmacies more, tesco launched baby & toddler club to provide expert advice to parents and provide them with targeted promotional materials (e. g. coupons) Talk to your customers whenever and wherever you can.
