GROUP MEMBERS:

ACTIVITY Nesmar Reyes Justine Badillos

March 10, 2023 Angelo Barcena KayKay Canapi

Daimler Sales
QUESTIONS:

1. What is customer retention? Why is customer retention important?

-As the name suggests, it is the ability of the business or company to retain previous
customers and turn them into repeat buyers. Customers are the lifeblood of the company;
without them, the company would not be able to continue its business because there are no
available funds to pay its employees, maintain its day-to-day operations, and have enough
capital for expansion. Customer retention is an integral part of the growth and development
of the business as it ensures that there will be a steady stream of income for the company.
Customer retention is the standard and a testament to the company’s product and business; it
means that if you retain repeated buyers, then you have quality goods and services.

2. Identify at least five (5) Customer Retention Strategies. Discuss and explain
and give examples each.

1. Communicate well and engage with your customers – For us, this is the most
important thing to do in every business. Good customer service and engagement
makes people feel comfortable in your business. Sometimes it even makes the
difference; customers will always go back to the businesses that treat them with care
and attention.

2. Understand your customer’s problems – Solving the customer’s problems is one of

the main objectives of every business. These problems are what create demands, and
as a business, it is your opportunity to supply and satisfy that needs and wants.

3. Ask for feedback – Asking for advice is always a good thing, and the perfect person
to ask for such advice is the customer itself. Customers are the people who experience
your products and services. Thus, they know what are the things that your goods and
services lack and what should be done to fix these problems. In addition, customers
would feel that their opinions are valued by the organization.

4. Make your returning customers happy with a loyalty program – Promos are a good
way to retain valuable customers. Rewarding customers based on their loyalty to your
business can have a huge impact. This will motivate them to buy more and subscribe
more to the things that your business has to offer.

5. Reduce friction – Customers tend to prioritize going back to a store when they think
that the services are quicker than other stores. Some customers are strict on their time
while some are lazy; thus, making your services quick and simple eliminates various
 obstacles that can make a customer mad due to uneventful waste of time. A smooth
and quick system is what makes others prefer eating in MCDO instead of Jollibee.

3. How can companies retain customers?

-Retaining customers are not an easy task. There are a lot of things that should be considered
for maintaining repeat customers. First and foremost, make and offer quality goods and
services; the quality of the product is one of the major reasons why customers prefer buying
in your business. Second, always think about how to innovate your product and upgrade your
services; stagnation without change and improvement will destroy your business. Customers
always want new gimmicks; without new and exciting things to offer, these customers will
get bored sooner or later. Lastly, engage and treat your customers right. Customers would
always want to go to places that they think they can vibe with. Employees should always
welcome and even talk to them with nice gestures. Creating good connections with the
customers would compel them to pick your business as their first choice when compared to
your competitors. To conclude, there are a lot of ways for a business to retain its customers.
They can employ different strategies and properly implement them to make effective results
for the business.

4. Identify at least 5 products that create value to you as customer? How do they

create value to you?

-Nescafé, Coca-Cola, Absolute, Shellane, and Colgate are 5 brands that already have value
due to their popularity, actual utility and practicability, and consistency in the products they
provide. These brands have been producing products that have enticed the populace because
of the aforementioned reasons, and that the brands themselves got involved in environmental
and/or social participation that makes them look relatable even as a company.

5. Give at least three reasons why you are loyal to a certain product?
-The brand of coffee Nescafé is the brand people would buy more often than not because: its
coffee tastes good even as an instant coffee brand; they market their coffee as a “farmer-
friendly” brand which is evident in their products, and the brand has a lot of price variations
that let customers enjoy.

6. Identify at least 5 products that you are patronizing? What are the qualities of
the certain products that prompts you to re-buy or re-purchase it even there is
the
possibility of switching to other alternative products?
-Nescafé, Coca-Cola, Absolute, Shellane, and Colgate are brands that are currently very
patronized. Some of the qualities of the said brands that make them almost irreplaceable are
their consistency and the practical value that they provide. These brands never fail to bring to
the table the expectations the brands themselves provide. Even in the event that some other
alternatives can be better, consumers will most likely still buy products from that brand due
to their own preferences.

7. Differentiate Traditional Marketing Theory and Modern Marketing Theory.

The general definition of marketing, which is the act of selling products and services after they have
been created, is consistent with the conventional definition of traditional marketing. Customer
satisfaction is not given enough weight because it is focused on that. It is viewed as primarily being
production- and sales-oriented. On the other side, modern marketing focuses on acquiring customers.
Identification of consumer demands and setting up a business to meet them are required for the
creation of customers. Its objective of earning profit is sought to be achieved through the provision of
consumer satisfaction. As a result, it is thought to be customer-centric.
These are the primary distinctions between conventional and modern marketing: Traditional focuses
on products only, whilst modern focuses on customers' needs and wants. Hence the segments of
traditional and modern are developed by product portfolio and differences between customers,
respectively. Traditional is based on production and selling concepts, while modern is based on social
and selling concept. The former is one type of push marketing, and the latter is pull marketing. While
today's marketing includes digital or automated marketing along with traditional marketing methods,
traditional is based on manual and physical marketing concepts. There are fewer promotional
activities in traditional and sustained promotional activities in modern marketing. Traditional is stuck
in the existing market whilst modern is always in search of a potential market. The former has a local
geographic focus, whereas the latter has a worldwide one. Comparing traditional marketing to modern
marketing, which has a border notion, it should be clear that the former has a narrow concept.

8. What do you prefer Traditional Marketing or Modern Marketing? Why?

Justify your answer.
-Wearing the shoes of a marketing agent, I prefer modern marketing. Not only does it require
an easier job and lesser cost as it utilises social media and other existing advanced
technology, but it also saves much time and effort as it targets specific markets or
demographics that are most likely to purchase. Using the old method is comparable to a blind
individual promoting the products or services as the efficacy rate of the sale being made
through the promotion is uncertain. It can not be known, unlike the modern marketing
strategy where transparency is apparent. More importantly, logically speaking, modern
marketing exists to enhance the old marketing method. It is basically deemed to be better and
possesses more advantages compared to the traditional one.

9. Discuss the benefits of Traditional and Modern Marketing.

a.) Benefits of Traditional Marketing
I. You Can Connect With Your Local Audience - Traditional techniques like marketing
materials, newspaper ads, regional TV commercials, or billboards embed your business in the
lives of your community's residents and clientele. Your efforts to connect with your target
audience, as a result, sound less corporate and more natural.
II. Promotional Materials Are Sustainable - The public remembers traditional marketing
techniques better and for a longer period of time. The same television advertisement, flyers,
business cards, or brochures can be used more frequently. As a result, you don't need to
create new content as frequently to market your good or service.
III. Traditional Marketing Establishes Credibility - Advertisements and printed content on
larger mediums are frequently thought to be more reliable. This is due in part to the fact that
traditional marketing is often associated with more established platforms and larger
resources. Any business that wants to run a magazine ad or a radio or TV advertisement must
have the money to do so. So, it is believed that the business is expanding, succeeding, and
stable.
IV. Hard Copy Marketing Materials Can Be Easier To Process - When it comes to brand
memory, hard copy marketing materials might be more effective and easier to digest. Direct
mail may be easier to read and process than Email. Compared to a white paper or website, a
brochure could be simpler to browse through. A three-minute YouTube video can be harder
to swallow than a 30-second TV commercial.
b.) Benefits of Modern Marketing
I. Higher ROI - ROI from online channels is typically substantially greater due to the ability
to target those who are most likely to make purchases and the availability of testing and
upgrading campaigns over time.
II. Targets customers more precisely and engage them at deeper levels - instead of slamming
everything up against the wall and hoping something sticks, you can choose your targets
carefully. You can then interact with people once more and develop a relationship once they
respond to you.
IV. There is potential to integrate channels for a comprehensive strategy - This is significant
because success depends on your ability to see how all of your promotional efforts fit
together. With the easy-tracking capabilities of digital marketing, you'll know exactly which
lever to turn and when. Many online channels can interact and support one another.

10. Think of your own customer service experiences, one where you received
good service and another where you received bad service. Your two experiences
can be from different industries.
a. Think about what the good service provider said or did to create good service.
How did the service provider make you feel?
b. Think about what the bad service provider said or did to create bad service.
How did the service provider make you feel?
Based on what you decoded above, what did you discover about how to give
good service and how to avoid bad service?
-Based on what you decoded above, what did you discover about how to give good service
and how to avoid bad service?
Like everyone, I have had my fair share of good and bad customer service. These experiences
happen in varying degrees.
The best example I could give for good customer service was with a young man who
had come to assist me in the grocery store. There was an item I required, but could not reach,
as it was way up in the shelves. He was patient and gentle in acknowledging my request. I
kept a respectful tone and apologized for taking him away from his tasks, just as he was
respectful in addressing me.
For the bad service, it was at a retail store. I needed help looking for the right shoe
size of a certain design. The person that attended to me was a woman. She seemed tired, and
looked like she needed to go sit down in the staff room. She was snappy and irritable, but still
kept the honorifics during our conversation. I felt like I was the bane of her existence during
our interaction. It made me feel horrible.
No matter the type of service, whether good or bad, I believe it is important to be
respectful to all service providers, especially since they could be struggling with their day. To
avoid bad service, I believe it would be best to give a brief, yet specifically detailed
summary. This would lessen the burden of the service provider to do trial and error to get
your request done immediately.

So this is a group activity but I expect all of you to participate. Happy working
and always keep safe everyone.