Identify Customer Retention Drivers Finding the factors that impact retention is the first step in putting customer retention initiatives into action. Besides, You run the danger of blindly adopting a variety of programs that might or might not have an impact on client retention if you don’t initially discover the turnover drivers. So let’s get […]
Sales and Services
Importance of customer loyalty
Higher profit comes from more loyal customers. However, the main thing that really makes loyal consumers so important to small businesses is that they raise revenue. Improving customer retention by just 5% will result in a 25% profit boost because investing more cash per visit to your store builds up over time. However, there is […]
Types of Social Marketing
Types of social marketing: Before knowing types of social marketing , we have to know ” what is social marketing”? There are five types of social marketing. Such as – Not-for-profit marketing Cause-related marketing Pro-social marketing Societal marketing Corporate philanthropy Not-for-profit marketing: It refers to non-profit organizations that use marketing to achieve their […]
Characteristics of foreign trade
Some important characteristics of foreign trade are described below: Exportation of raw materials : The main characteristics of foreign trade are exporting raw materials. The maximum number of exporting trade comes from raw materials and agricultural goods. Such as raw jute, fish, tobacco, tea, leather, etc. Importation of industrial products: Another characteristic of foreign trade […]
Market segment and effective targeting
All consumers are not the same. They are different in their needs, wants and demands. However, there are some other factors that may vary. These are- different backgrounds, education levels, experiences. Therefore, marketers offer different types of alternatives goods that can satisfy the consumer’s desires. As a result, marketers do the market segment and effective […]
Rights of the buyer and seller of the goods
There are some specific rights of the buyer and seller of the goods. These are really very important for maintaining the business relationship between them. Both are equally responsible for any mistake or misbehave. So, at first, we will learn about the rights of the buyer of the goods. Let’s see- Rights of the buyer […]
Rules regarding delivery
Delivery means the transfer of ownership from one person to another person. It is voluntary dispossession of goods in favor of another. However, The parties determined the mode of possession. Whatever Delivery has three forms. Such as – Actual delivery Actual delivery occurs when goods are delivered. In broadly, when goods are physically handed over […]
Consumer interpretations of price
Consumer interpretations of price is an important factor in the case of making purchasing decisions. However, Consumers are always run after the low prices products. That’s why there exists a huge competition in the marketplace. Every industry tries to offer better than others. So, having competition, low price can get an advantage from the marketplace. […]
Customer Value, Satisfaction and Retention
In this article, we will discuss Customer Value, Satisfaction, and Retention. Customer Value: Customer value means creating superior satisfaction. It is the key concept for building a profitable relationship. In business, it is said that if you satisfied your target customers. If customers get enough satisfaction, they will be purchased again & again. However, It seems […]
