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support of supplier relationships to: Reduce purchasing and inventory costs. Provide customer-centric service to purchase quality and consistent goods and services within the desired time frame.

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The Customer Life Cycle represents the stages a customer goes through with a brand, from Awareness (first learning about the product) to Consideration (evaluating options), Purchase (buying the product), Retention (engaging the customer to encourage repeat business), Loyalty (building a long-term relationship), and Advocacy (customers promoting the brand to others).

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a method that helps businesses approach and communicate with customers in a systematic and effective way, manage customer information such as account information, needs, contact and other issues to serve customers better.

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Transaction-based selling focus on short-term sales so it will suitable for businesses that rely on high sales volumes and less complex products.

1. Short-term focus: The primary objective is to make a sale, with less emphasis on long-term customer engagement.

2. Product-Centric: The focus is on the features, benefits, and price of the product or service being sold.

3. Low Customer Interaction: The salesperson's interaction with the customer typically ends after the sale is made.

4. The aim is to sell to as many customers as possible, often with a standardized approach.

5. Customers are often driven by price, promotions, or discounts rather than loyalty or trust.

6. Little effort is made to maintain or build a relationship with the customer after the sale.

Examples:

Retail sales (e.g., electronics, clothing)

E-commerce transactions

Car dealerships

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Relationship-based selling is focus long-term relationships so it ideal for businesses that offer high-value, complex products or services where building trust and customer loyalty is critical.

1. Long-Term Focus: The emphasis is on developing a long-term relationship with the customer rather than just a single sale.

2. Customer-Centric: The focus is on understanding the customer's needs, pain points, and goals, and offering solutions that best fit them.

3. High Customer Interaction: There is a high level of engagement before, during, and after the sale to build trust and loyalty.

4. The sales strategy is tailored to each individual customer based on their unique needs and preferences.

5. Continuous communication, follow-up, and customer service are key to maintaining the relationship.

6. Customers value the relationship, trust, and personalized service more than just the price.

Examples:

B2B sales (e.g., software, consulting)

Real estate

Financial services (e.g., insurance, investment advisory)

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1. Regularly ask for customer feedback and, importantly, act on it to show that you value their opinions and are committed to improvement.

2. Recognize and thank loyal customers through personalized messages, special offers, or small gifts.( For example: In their birthday, the company can send them email with discount coupons)

3. Foster a sense of belonging by creating communities or forums where customers can interact and share experiences.

4. Ensure your customer service is top-notch. Quick responses, empathy, and effective solutions can make a big difference.

5. Consistently providing high-quality products or services helps build trust and satisfaction.

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1. Operational excellence (Example: Lean manufacturing is an operational excellence methodology that aims to eliminate waste and maximize efficiency in production processes. It was developed by Toyota in the 1950s as part of the Toyota Production System (TPS))

2. Customer intimacy (IKEA is a great example of a customer intimacy practice that managed to make dreams come true. When they decided to deepen their customer intimacy and marketing strategy, their primary goal was to find out what their customers in different markets require and make all their stores more local and customized)

3. product leadership (Examples: Apple, BMW, Intel,..)

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An individualized proposition is a tailored offer or recommendation made to a customer based on their specific preferences, behaviors, and needs.

Examples:

1. Amazon uses a sophisticated recommendation engine to suggest products based on a customer’s browsing history, previous purchases, and items in their shopping cart. For instance, if you frequently browse for tech gadgets, Amazon might recommend related products or accessories.

2. Netflix personalizes its content recommendations based on the movies and shows you watch. The platform uses algorithms to suggest new shows and movies that align with your viewing history and preferences.

3. Spotify creates personalized playlists, such as “Discover Weekly” and “Daily Mix,” based on your listening history and musical tastes. It uses this data to recommend songs and artists you might enjoy.

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Offensive competitive strategy is a type of corporate strategy that consists of actively trying to pursue changes within the industry. Companies that go on the offensive generally invest heavily in research and development (R&D) and technology in an effort to stay ahead of the competition

-> Example: Apple frequently introduces groundbreaking technology and features with its products. By consistently being at the forefront of innovation, Apple positions itself as a leader in the tech industry, putting pressure on competitors to keep up.

Defensive competitive strategies are designed to protect a company’s market share and position from competitors, rather than aggressively pursuing new market opportunities. These strategies focus on maintaining a strong position and mitigating threats.

-> Example: Coca-Cola invests heavily in brand advertising and sponsorships to reinforce its brand identity and loyalty. Strong brand recognition helps to defend against competitors and maintain customer preference.

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How intermediaries create values for manufacturers

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How intermediaries create values for manufacturers

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Intermediaries, such as wholesalers, distributors, and retailers, play a crucial role in the supply chain by creating value for manufacturers.

1. Expanding Market Reach: They provide access to broader and varied markets.

2. Enhancing Distribution Efficiency: They manage logistics and inventory, reducing the burden on manufacturers.

3. Driving Sales and Marketing: They promote products and tailor marketing strategies to local markets.

4. Reducing Risk: They take on risks related to inventory and unsold goods.

5. Providing Customer Support: They handle customer service, inquiries, and returns.

6. Offering Market Insights: They provide valuable data on market trends and customer preferences.

Example:

Coca-Cola leverages intermediaries such as retailers, distributors, and logistics providers to enhance its market reach and distribution efficiency. Retail partners and wholesalers facilitate bulk purchasing and localized marketing, while logistics companies handle transportation and warehousing. Distributors absorb inventory risks and offer financial services like credit terms, reducing Coca-Cola’s financial exposure and aiding in sales growth. Additionally, retailers provide customer support and market insights, helping Coca-Cola tailor its strategies and maintain high customer satisfaction. This collaborative approach allows Coca-Cola to efficiently manage its operations and expand its market presence.

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Or Social Customer Relationship Management, this system integrates social media channels and networks to enhance customer relationship management

How is it use?

• Engaging with customers through social media platforms (real-time responses or autobot responses)

• Monitor conversations about their brand, competitors, or industry on social media.

• Lead Identification

• Relationship Building: Builds trust and loyalty through meaningful conversations & prompt support.

• Collect valuable customer feedback from social media platforms

• Companies can use social media interactions to track customer behavior and preferences

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KPI is key performance indicator

KPI's methods are tool or system on how to measure the goals or the success of the result to the customer or the sales team.