Publix supermarket
The best in which Publix supermarket has measured its existing customers’ potential value is through customer interaction. Publix associates has been urged to keep in touch with the customers in ordton immediate feedback, it r. Its the associates to learn customers’ name daily through face to face introduction and interaction to better the needs and wants and desires of the customers. Publix has achieved customers’ retention by emphasizing less clutter, intensive customer service training, and consistent product placement (Crumpton 40).
On the other hand, large suppliers of raw materials can also measure potential customers through the number of purchases by customers. When the sales are steadily increasing, it merely means that the customers are retained, and more customers are attracted. On the other hand, Disney world has been using the Disney user-friendly app to capture every customers’ feedback, thereby making it easy and efficient to validate the potential value of the existing customers (Loeffler, and Church 200).
The most effective way of quantitatively measuring the value of the existing customers is by repeat purchases. At the lowest point, frequent purchases show that the customers are digging deep into their pockets. The customers are satisfied that they will purchase the products and services either out of need or want. Other ways include; Testimonials and references, referrals and sales advocacy, and partner and joint venture. Great customers are distinguished from low customers through payment; good ones pay on time, unlike low customers, honesty; great customers are honest, unlike the poor customers.
Question Two
The existing customers are categorized into cheap customers’; they buy based on the price. Educated customers; they buy based on the value of the products and driven customers who buy based on value. In conclusion, and most important thing to learn is that organizations should aim at customer satisfaction, which can only be achieved through face to face interactions. Can SWOT analysis be used to measure the potential value of existing customers?