Demonstrate a critical appreciation of the major steps involved in conducting research. (b) Demonstrate an extended understanding of various business research designs and methods, and be able to evaluate and….
develop a plan for the business to build a foundation for customer retention and satisfaction.
business report that is 1800 words in length.
The focus of your report is to develop a customer retention plan and recovery strategy to support your service business post-COVID-19.
Your task as the marketing manager for your business choice (any local café or coffee shop ) is to develop a report for the business on creating loyal customers and building relationship marketing strategies for the enterprise. Your aim is to develop a plan for the business to build a foundation for customer retention and satisfaction.
You will need to:
- Develop a market segmentation profile of your current/future customers for the enterprise – based on its location (geographic) and suburb profile (demographic) and include key psychographic and behavioural characteristics.
- Consider how you can effectively tier your services to deliver value and satisfaction to all customers.
- Create a plan for customer retention for your business including:
- Strategies to create loyalty bonds
- Strategies to build in switching barriers, and
- Strategies to reduce churn. (See chapter 13 of your textbook and Figure 13.7 for further information.)
- Provide any other recommendations that you feel would be appropriate for your business must consider delivering a comprehensive CRM strategy for their business. You can consider any of the 7Ps, and any of the common failures in CRM implementation, and/or other service recovery strategies address the post-COVID-19 challenges for retaining existing customers and potentially gaining new customers.
Your discussion and analysis in this written business report requires theoretical support from a minimum of 10 journal article references.
- Title page.
- Executive summary.
- Table of contents.
- Service provider description and target market analysis.
- Tiering of the service provision.
- CRM Plan for customer retention including strategies to create loyalty, reduce switching and reduce churn.
- Reference list.
- Appendices if needed.