Written Assignment 2 – Customer Relationship Management: Customer Satisfaction, Customer Loyalty and Firm Profitability
The ultimate goal of any organization is goal attainment utilizing efficient and effective programs and processes. Customer relationship management is a vital component to firm success. Essentially, the key to success for any organization is to identify, attain, satisfy and retain customers that contribute to their bottom line. Inevitably, this takes place in a competitive environment.
Based on the readings for this week, respond to the following questions:
How can an effective Customer Relationship Management program be used to identify, retain, satisfy and retain customers?
Customer satisfaction is closely related to customer loyalty and customer retention. How might an organization improve customer satisfaction in order to build greater customer loyalty? What does it mean to say that an organization is customer-centric?
What has been your experience with customer loyalty? For example, based on your experience are customers today more or less loyal than they have been in the past? What factors contribute to customer loyalty? Give an example of customer loyalty or alternatively situations where customers have demonstrated very little loyalty.
Papers should be 3-4 pages in length, double-spaced. Put name, date, assignment #, and class in top right corner in the header section. Do not attach a cover page, but you do need to include a reference list. Use headers to separate major themes or topics. Respond fully. Give examples when appropriate. Be sure to provide your own perspective on each of the questions rather than reiterate from the textbook.