Question

In: Finance

what are the differences between the existing , over- served , and non -customer categories ?...

what are the differences between the existing , over- served , and non -customer categories ? how does one grow or sustain a business in relation to each of these categories

Solutions

Expert Solution

(I) Existing Customer-

Existing Customers are those customers that have already purchased the products and services from your organization. For long term growth and sustain of the business , the organization should try its best to Retain its existing customer. Custimer retention is more important than the customer acquisition.

The orgaization should follow the following srategies and methods for long term retention of the Existing customer.

  • Offer high quality service to the existing customer
  • Take their feed back and learn and improve from the existing customer's Complaints
  • Provide Customer Loyalty point to the existing customer.
  • organise survey to know the Customer Expectation
  • Alaways maintain communication and relation with the Existing customer in an appropriate interval of time, so that they will not move to other organization
  • Provide discounts and surprise offers and vouchers to the existing customer
  • Serve the customer expectation as per the promise
  • Promptly handle their query.

(II)Over Served Customer-

Over served customer are those customers who have been over satisfied with the product. They use the product , but do not use all the functions and attributes of the product. For example your organization sells AC with inbuilt radio function. But your custoomers are use only AC. Here we can say that your customer is over satisfed with the radio function.

Orgaization should understand that Over of anythig is not good. Customer should be provided with the product with such functions and attributes that maximize his/her satisfaction.

  • Organization should conduct survey of the products
  • organizatio should understang what the customer wants and what not
  • over served functions or attributes of the products should be elimited or modified as per the customers need.

(IV)Non Customers

-Non customers ar those persons who do not buy products from your Organization.

-Here the organization should follow the following customer acquision strategy for long term grow and sustain-

  • Target the Non customer Group  
  • understand their needs and expectation
  • attract the attention of the non-customer by advertisements
  • provide attractive disctounts (like 50% off on new purchase or 50% on first time purchase) etc

Related Solutions

There are two categories of hospitals: teaching and non-teaching. Research the differences between the types of...
There are two categories of hospitals: teaching and non-teaching. Research the differences between the types of hospitals. Describe these differences and state which type of hospital you would prefer to work for and why.
what are the differences and similarities between non ribosomal and ribosomal peptides?
what are the differences and similarities between non ribosomal and ribosomal peptides?
Briefly explain what are coastal engineering structures and the differences between the two categories. Provide a...
Briefly explain what are coastal engineering structures and the differences between the two categories. Provide a brief history of the structure Ripraps and Gabions (including its category)   How widely is the structure used?
What are the principal differences and similarities between the major categories of probability sampling: simple random...
What are the principal differences and similarities between the major categories of probability sampling: simple random sampling, systematic sampling, stratified sampling, and cluster sampling? Provide an example of each type of sampling method.
What are the similarities and the differences between directive and non- directive play therapy ?
What are the similarities and the differences between directive and non- directive play therapy ?
describe the medicaid program. What are the differences between Medicare and Medicaid ? ( 300 non...
describe the medicaid program. What are the differences between Medicare and Medicaid ? ( 300 non plagiarised )
What are some differences between outsourcing a non-core support function such as IT and outsourcing a...
What are some differences between outsourcing a non-core support function such as IT and outsourcing a core function like manufacturing? What if IT represents a competitive advantage? Should outsourcing IT still be considered? Is "Cloud" IT Outsourcing?
What are the similarities and differences between Mendelian and non-Mendelian inheritance? I'm very confused by what...
What are the similarities and differences between Mendelian and non-Mendelian inheritance? I'm very confused by what im reading online and wanted to know the most significant details that distinguish/relate the two.
What are the main differences between programmed decision making and non-programmed decision making? What is GroupThink...
What are the main differences between programmed decision making and non-programmed decision making? What is GroupThink and how does it get in the way of making good group/team decisions? Give an example. What are the benefits of creating a learning organization? How can managers promote it?
What are the key differences between parametric and non-parametric tests? Provide one example of a parametric...
What are the key differences between parametric and non-parametric tests? Provide one example of a parametric test and one example of a non-parametric test.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT