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The research process was a learning experience for me. Searching through different sources for relevant information regarding the subject matter enlightened me and expanded my knowledge base altogether. I discovered that successful research requires patients and attention to tiny details as they affect the overall project. The course’s comprehensive project enhanced my time management skills. I had to plan myself and work under specific timeframes to gather and write enough information as intended. Planning was crucial because I had to put everything in order and attend to other subjects and activities besides the project and not deviate or get distracted from my routine. Continuous research and rough drafts allowed me to grasp the knowledge gained from the study for future reference. This research has equipped me with knowledge and skills that prove essential in my career advancement in management. Thanks to the project, I know how to keep time, plan, pay attention to detail, solve problems, communicate my results, and use advanced research techniques to increase my knowledge over short periods.
A strategic marketing plan is crucial for the success of a business, improved performance of an entity, and an understanding of customer preference. Orientation towards meeting the demand in the market increases customer satisfaction and, ultimately, a firm’s customer base. For this to happen, a firm has to devote its time and resources to survey the market and determine consumer preferences, channels, and most importantly, the target market. Adopting strategies that improve customer service gives a firm an advantage against its competitors. In addition, it improves the customers’ impression of the entity and makes the firm’s image optimistic in the market. The pricing objective incorporated by the firm targeted the younger consumers of the product. This is the case because most consumers of the firm’s product are young people who love fashion and trendy things. Funds to access and buy such products can be challenging. Therefore, reducing product prices, introducing discounts and coupons increases their chances of purchasing products from the firm affordably. These actions eventually increase the respective firm’s sales, profits, and performance.
Customer relationship management is paramount for the success of a business. It is vital that customers feel contented, well taken care of, and served while making their purchases. To maintain the loyalty of my customers, I would focus on customer services and experiences at the store more than sales and profits. Giving them the best services prompts them to return again and even make referrals to friends and family. Secondly, I would study my customer’s preferences, record them in a permanent database for future reference, and give them a sense of belonging each time they return and realize you remember their preference. Finally, I would ensure I’m consistent with the flow of my products in the market to maintain my loyal customers and attract new ones. It is beneficial for a firm to practice the above strategies to improve its performance, keep pace with competitors and maintain relevance in the long run.
Technology plays a vital role in supporting and enhancing customer relationship management plans. The invention of advanced computers to keep clients’ records for future references has enabled firms to maintain a good relationship with their customers. I can now gather sufficient information from the internet about their customers and use it to assess their preferences and purchase channels. This information allows me to connect with the customers, avail relevant commodities, and get their honest reviews regarding the products. Technology has also enhanced customer relations by streamlining my operations, cutting costs internally, reducing processes and staff in the firm. The reduced costs thanks to technology are passed to the consumers through low pricing hence attracting and gluing them to my products. Lastly, technological inventions have enabled fast and efficient delivery of the product to consumers, thus impressing them and prompting them to continue shopping in my store. It has also expanded my customer base and increased their trust now that I can ship products over long distances at affordable prices. It is undeniable that various technological innovations have facilitated a good relationship with my customers and improved my firm’s overall performance.
