Sydney Opera House Case Study Assignment
There are multiple ways that companies acquire customers to buy into their product or service. However, this assignment will be based around enterprise value creation as explained by Payne and Frow (2013, pg. 261) ways that companies add value for their customers and vice versa for their customers to add value to the company and obtaining the most value from a customer experience. An ACURA model will also be explained included, elements, concepts and examples used in the case study to understand the reasons the Sydney Opera House (2016) utilised the enterprise value concept with their customers and applied the ACURA model to keep their customers happy.
Firstly, the Sydney Opera House is a large attraction …show more content…
The acronym ACURA stands for: acquire, obtaining customers; cross-sell, selling as many different products or services; up-sell, for customers to purchase a product or service at a higher price; retention, keeping the customers happy and lastly advocacy, when customers who use the product or service or in this case visit the opera house advocate their experiences to potential customers and spread their positive experience via word of mouth. The way each strategy is used by the Sydney Opera House is altering the ACURA model to suit their specific needs, but also keeping in mind that they want to create customer value with their …show more content…
The way the opera house enables these groups is to allow them to experience the attraction or acquisition by means of the customers wants or believes is of value. The groups purchase different purchase prices and what is most beneficial to their needs or wants. The groups segmented are also exposed to the next strategy which is the cross-selling strategy; how this selling strategy is used is through offering other alternatives to their ticket, for example the opera house sells food and beverages and offers different packages that cater to the higher, middle and lower groups. The more products that are offered to customers the more willing they are to stay happy and buy more into the organisations value. The next step in the model is up-selling. The opera house uses this up sell strategy by initiating ways or prices for particular products that consume value in the eyes of the customer, products and services such as first class access, lounges, and exclusive treatments is one example that customers in particular mature-sophisticated customers that are willing to purchase these
There are multiple ways that companies acquire customers to buy into their product or service. However, this assignment will be based around enterprise value creation as explained by Payne and Frow (2013, pg. 261) ways that companies add value for their customers and vice versa for their customers to add value to the company and obtaining the most value from a customer experience. An ACURA model will also be explained included, elements, concepts and examples used in the case study to understand the reasons the Sydney Opera House (2016) utilised the enterprise value concept with their customers and applied the ACURA model to keep their customers happy.
Firstly, the Sydney Opera House is a large attraction …show more content…
The acronym ACURA stands for: acquire, obtaining customers; cross-sell, selling as many different products or services; up-sell, for customers to purchase a product or service at a higher price; retention, keeping the customers happy and lastly advocacy, when customers who use the product or service or in this case visit the opera house advocate their experiences to potential customers and spread their positive experience via word of mouth. The way each strategy is used by the Sydney Opera House is altering the ACURA model to suit their specific needs, but also keeping in mind that they want to create customer value with their …show more content…
The way the opera house enables these groups is to allow them to experience the attraction or acquisition by means of the customers wants or believes is of value. The groups purchase different purchase prices and what is most beneficial to their needs or wants. The groups segmented are also exposed to the next strategy which is the cross-selling strategy; how this selling strategy is used is through offering other alternatives to their ticket, for example the opera house sells food and beverages and offers different packages that cater to the higher, middle and lower groups. The more products that are offered to customers the more willing they are to stay happy and buy more into the organisations value. The next step in the model is up-selling. The opera house uses this up sell strategy by initiating ways or prices for particular products that consume value in the eyes of the customer, products and services such as first class access, lounges, and exclusive treatments is one example that customers in particular mature-sophisticated customers that are willing to purchase these