Companies can build customer relationships at many levels, depending on the natu

Question

Companies can build customer relationships at many levels, depending on the nature of their target market. The goal of customer relationship management is to create customer satisfaction. Satisfied customers remain loyal and purchase more from the company.

There are some product categories that have an increased susceptibility to "brand hopping." Laundry detergents, household cleaners, and similar products traditionally gain and lose customers with price fluctuations.

For your discussion, describe how laundry detergent brands can develop customer relationships and create lasting customer value. Share your thoughts on strategies that can be implemented to develop customer loyalty. Be Specific! Then provide thoughts and feedback on one other student's post. How were your thoughts and ideas similar or different? Be specific!

Explanation / Answer

High levels of volatility in consumer demand for laundry detergent brands in response to price fluctuations indicate considerably high market competition among laundry detergent brands.Therefore,developing a strong Customer Relationship Management Strategy(CRM) can be crucial to gain a competitive advantage for any particular brand in the market which can significantly enable the expansion of market share by establishing a convincing customer loyalty and market goodwill.Now prior to any significant modification in the existing CRM implementation,the firms/companies must emphasize on certain important considerations that might influence the acquisition of new customers and retention of the existing customer base thereby ensuring expansion of the existing customer base without any potential possibility of its depletion or loss.This would expectedly lead to higher market share and enhance profit level by generating more sales revenue.In this regard,some of the CRM strategies for the laundry detergent brands/companies can be discussed in further details.

First,the detergent brands have to profoundly analyze that whether the existing customers are completely satisfied with the product quality and its utilities.As a part of empirical study of customer satisfaction the brands can implement a customer satisfaction survey for every individual product that any consumer would buy.Considering the time factor and the personal convenience of the consumers,the survey can be kept preferably short can be simply conducted online by logging into the respective brand websites which would take approximately 5 to 10 minutes of personal time at the most.The direct online link can be provided at the back of each product in bold to catch consumer attention with appropriate guidelines and instructions for filling up the survey.The content of the survey questions can possibly include consumer perception on product price,quality,usefulness,impact on cloth fabrics,color,linen etc.,fragrance,effect on human skin and so forth.A comprehensive customer satisfaction survey could expectedly provide an extensive market information pertaining to consumer perception on the product from different aspects.

Secondly,the companies or brands can emphasize on enhancing customer communication by using various e-commerce tools such as online customer review platforms available on various e-retail websites such as Amazon,E-bay,Fipkart etc.E-retailing is one of the most effective way to expand customer reach in relatively less time and minimizing the transaction cost associated direct physical market transactions.In this context,the brands should defenitely take advantage of the various respective customer reviews of the individual products in the e-retail websites and subsequently track and analyze them in details to improve or modify their CRM strategies accordingly.Increasingly more number of consumers would prefer to post a quick product review on e-retail websites as it is easy,quick and hassle free compared to any traditional customer satisfaction survey methods which are practically much more time constrained and complicated.The respective brands can actually access the customer review information as majority of the e-retail based customer feedbacks can be accessed openly without any impediment.In this way,the brands can get access to higher number numbers of customer reviews and feedbacks which would facilitate the development of customer loaylty and dedication by improving business and product related strategies and further developing new customer base.

Thirdly,the detergent brands should consistenly maintain an active customer helpline number which should be available 24/7 and year round.As many of the laundry detergent brands are evidenly MNCs and large scale they can probably outsource their customer relations department to any third party foreign agency to adjust any issues related to time difference.Additionally,an active daytime customer helpline number should be maintained to assist respective customers regarding any questions pertaining to product use,washing instructions,quantity recommended for different types/textures of clothes,careful and safe handling to prevent any possible skin diseases and any other concered issues.This would certainly improve customer connectivity for the brands and consequently develop a sense of consumer trust and reliability towards the brands.The customer helpline should be easily asseccible for all customers which requires sufficient number of employee handling the tele calling and minimizing holding time for each individual customer.This can facilitate both the acquisition of new customers in the market and retention of existing consumer base by enhancing consumer trust and reliability.

Fourthly,a successful implementation of CRM software is imperative in improving CRM and gaining higher market share.A comprehensive CRM software would enable the companies to maintain a proper consumer database,information on consumer history,sales information for individual products,past and current records of revenue and much more which is unavoidably essential for customer retention and future sales growth.Furthermore,various operational goals of CRM system such as Sales Force Automation,Market Automation can technically provide a detailed overview on sales record,marketing and customer support for each individual customer.Therefore,one software can ideally provide all the customer related information for any customer satisfaction survey,feedback or review system that the brands can conduct.This would immensely ease the process of CRM estimation or analysis for the companies and potentially CRM strategies as well.

Therefore,these aforementioned CRM strategies can be compared with the thoughts,feedback and suggestions of other students in the class to find any similarities or differences.

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