Know What Your Customers Want Before They Do
- Submitted by: karandeepsingh
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- Category: Other
- Date Submitted: 12/02/2014 05:40 AM
- Pages: 3
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Know what your customers want before they do
Due to continuous growth in globalization which has made an advancement in technology, information, infrastructure and communication, customer has got more awareness about the desired product by spending the best price without compromising in quality and quantity. On the other hand, continuous increase in world population has led to the expansion of retail market as well. Because of these two factors, there is now a tight competition in retail industry. Thomas, Leandro and John throw light on how the retail companies like Tesco, Microsoft, Wallmart, H&M, Zappos, Foursquare increased their sales by providing best offers to customers by applying different strategies. Defining objectives, gathering data, analyzing and executing, learning and evolving are the four activities to build next best offer.
Email, text messages, online purchase websites, pamphlets and broachers, face to face communications are the ways to give the offer. However, author did not focus on trends. Being a leader, I will focus more on selling and giving the best offer by online website because practically speaking, due to work pressure and busy schedule of people, online shopping is ruling over the in-store shopping. Customers are already aware about the brand and products. Recently, Flipkart an online retailing company made a sale of $100 million in just 10 hours. Another online company Snapdeal also made a huge sale with highest of INR 10 million in one minute. Amazon, Staples, Apple, Wallmart, Dell are the companies giving NBO online and are getting high profit through online selling their products. It saves the time and money to travel for shopping. Customer just places their orders online and it gets delivered to their place. Also, the strategies discussed in the article were more about big retail companies who can spend a lot of money on technology and communication to know their customers but author did not discuss deeply about kiosks...
Due to continuous growth in globalization which has made an advancement in technology, information, infrastructure and communication, customer has got more awareness about the desired product by spending the best price without compromising in quality and quantity. On the other hand, continuous increase in world population has led to the expansion of retail market as well. Because of these two factors, there is now a tight competition in retail industry. Thomas, Leandro and John throw light on how the retail companies like Tesco, Microsoft, Wallmart, H&M, Zappos, Foursquare increased their sales by providing best offers to customers by applying different strategies. Defining objectives, gathering data, analyzing and executing, learning and evolving are the four activities to build next best offer.
Email, text messages, online purchase websites, pamphlets and broachers, face to face communications are the ways to give the offer. However, author did not focus on trends. Being a leader, I will focus more on selling and giving the best offer by online website because practically speaking, due to work pressure and busy schedule of people, online shopping is ruling over the in-store shopping. Customers are already aware about the brand and products. Recently, Flipkart an online retailing company made a sale of $100 million in just 10 hours. Another online company Snapdeal also made a huge sale with highest of INR 10 million in one minute. Amazon, Staples, Apple, Wallmart, Dell are the companies giving NBO online and are getting high profit through online selling their products. It saves the time and money to travel for shopping. Customer just places their orders online and it gets delivered to their place. Also, the strategies discussed in the article were more about big retail companies who can spend a lot of money on technology and communication to know their customers but author did not discuss deeply about kiosks...