Customer Engagement

Customer Experience and Customer Value: Where AI Is Failing

Customer Engagement, Financial/Profit Impact /

Customer Experience Drives Customer Value In today’s competitive market, customer experience is a critical driver of customer satisfaction. Therefore, companies that excel in delivering positive experiences are more likely to retain customers, increase profitability, and enhance brand reputation. In contrast, poor customer experiences can lead to customer churn, negative word-of-mouth, and lost revenue. Yet, many […]

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Starbucks’ Leadership Shakeup: Will the Focus Finally Return to Customers?

Customer Engagement /

Starbucks’ Leadership Shift On August 13, 2024 Starbucks announced the appointment of Brian Niccol, the former CEO of Chipotle, as its new leader, replacing Laxman Narasimhan. This change, effective September 2024, comes after a turbulent period marked by declining sales and pressure from activist investors like Elliott Investment Management. Narasimhan’s tenure, which began in March

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How Can A Company Differentiate Its Offerings From Competitors?

Brand Strategy, Customer Engagement, Customer Focus /

From customers’ perspective, a market is commoditized when most competitive offerings are undifferentiated from each other. In such a market, customers can choose from the many available options without incurring any risk. Naturally, they gravitate toward the lowest price option. This forces competitors to aggressively compete on prices and erodes a brand’s pricing power. Over

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Why Is Subscription-Based Pricing So Popular?

Customer Engagement, Customer Focus, Financial/Profit Impact /

Consumers use many product categories on a continuous basis. These include beauty, grocery, health and baby care, automotive parts, electronics, industrial supplies, lawn and garden, pet supplies, office supplies and sports and toys. Today websites such as Amazon.com offer customers the option of “One-Time Purchase” versus “Subscribe-And-Save” plans. According to Amazon.com, more than 51% of

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Why Distributors & Wholesalers Are Thriving in an Era of E-commerce?

Customer Engagement, Financial/Profit Impact, Market Focus /

With more and more people shopping online, many have been predicting the demise of distributors and wholesalers. It was believed that manufacturers could bypass channel intermediaries such as distributors, wholesalers, and retailers by “selling directly” to customers. Theoretically, if customers could bypass distributors and retailers and buy direct from manufacturers it would lower costs, make

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How Can Companies Capture the Voice of the Customer?

Customer Engagement, Customer Focus /

Capturing the voice of the customer (VOC) entails listening to customers to develop an understanding of their needs and value drivers. Without capturing their customer’s voice, companies risk alienating them, lowering customer satisfaction, and slowing financial growth. Undoubtedly, the first and most critical step in value creation for customers is to gather their voices. Capturing

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How Does Product Positioning Drive Customer Strategy?

Brand Strategy, Customer Engagement, Market Focus /

Product positioning is a systematic process to ensure that the benefits associated with the company’s offering meet the target customers’ most important needs in a way that (1) satisfies customers and (2) increases sales and profits for the company. The benefits not only include product attributes but also brand reputation, pricing, distribution, communication, and customer

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