Customer Value And The Value Creation Framework Essays
Customer value and the value creation framework have helped shaped my marketing thinking by providing me with a new perspective. This framework has opened me up to change and allowed me to shift my focus to customers and their experience rather than on the action that would result in the greatest return. I’ve discovered that companies will measure customer satisfaction and experience, but will not share the data or hold anyone accountable for using the information to improve the customer experience. In an article entitled “Learning from Customer Defections” the author states that companies whose primary focus is profits will not be able to uncover customer issues until after the fact. Thus, Frederick Reichheld proposes that businesses should emphasize value creation to customers in order to improve a company’s profit. I’ve also learned that by making customers a priority and fully understanding their needs and wants will result in greater returns for a company in addition to an increase in satisfied customers.
As the sale and marketing manager at Climate Design I am tasked with increasing sales for the residential replacement division. One way in which I will approach this task is to first focus on failure analysis in an attempt to understand where the company is making mistakes and defecting customers. I will also work to generate new leads in addition to focusing a portion of my efforts on existing, loyal customers. An important concept from the…