QUESTION 1 (20 MARKS)

Based on Tella Oy case, identify and briefly explain with evidence FOUR (4)

importance of networking. Your answer should relate to the learning knowledges and

experiences discussed in the class.

Answer:

In general, networking holds a crucial function. Having relationships or Networking in

business can boost connections with various parties to develop your business because this
process involves interpersonal relationships, and relationships with communities, and other
companies. Networking is not limited to attending online meetings, getting to know each
other, then collecting business cards. More than that, networking must be a focused and
strategic action to efforts to manage and expand business operations. The essence of business
networking is to actively establish relationships with various parties to increase the growth of
your business. Broad networks enable entrepreneurs to identify the importance and useful
individuals or organizations for business. Networking should not run in a flow, but begins
with a plan and is carried out consistently. Establishing relationships in a business is
important to facilitate collaboration. The collaboration will make the business stronger
because networking also includes collaborating with other people so that it can be aimed at
collaboration. Tella Oy needs it for the sustainable growth of the company. Increasingly
wide-ranging networks gain more benefits.
QUESTION 2 (20 MARKS )
Discuss the networking management of the company base on the company’s networking
with customers.
Answer:

i. Who are their customers? List down all Tella Oy’s customers. (3 marks)
Tella Oy focuses in captivating its customers from the amount of business related to the

company. Primarily, it is widely spread from B2B, B2C, Amazon, Domesti, German, Nordic,

Japan, and Global. What then happens to be Tella Oy’s customers are:
  First, Tella Oy customers happen to be in the form of company’s B2B customers.

B2B or Business to Business is the sale of products or services provided by one

business and intended for other businesses, not to consumers.

 Second of all, Tella Oy customers are taken in the form of B2C customers. B2C is the

process of selling products and services directly from businesses to consumers who

are end users. B2C is a retail model where products move directly from businesses to

end users who buy products or services for personal use.

 Third, it is explained that Amazon provided Tella Oy a great number of customers

since it becomes Tella Oy’s online market place for distributing product

 Fourth, Tella Oy also focuses on domestic market.

 Fifth, the market also largely covers German and other Nordric country.

 Sixth, Tella Oy aims to depict its market in regional target, namely Japanese

customers as the target. Japan was known for country with the biggest luxury user.

The market of customers is large in here.

 Seventh, China and India are also targeted to be marketed customers of Tella Oy.

 Last, Globally Tella Oy also aims to target global market for its customers. It is in the

form of online customers.

ii. Why networking with these customers important to the company? (4 marks).

To clearly depict the benefits of networking with those customers, analysis is then made in

accordance to the type of the customers.

- For customer in B2B sector, networking helps to build great and strong foundation

in creating great exposure for Tella Oy. Tella Oy needs customers of B2B for

growing the business.

 - For customer in B2C sector, Tella Oy aims to make great connection with triangle

of business line up in Finnish, Swedish, and English as its main targeted customer.

- For Amazon customers, it is important to Tella Oy in reaching wider market in

online scope.

- For domestic market, the customers networking is important to let the chain

becoming successful domestically.

- For German and other Nordric country, Tella Oy sees this networking will be

helpful in ensuring productivity.

- For customers classified in regional scope of Japan, Tella Oy needs to ensure great

connection with Japanese market for Pursue Options and license.

- For China and India, market of customers are needed for enlarging international

retailing and the rise of social media marketing.

- For global reach, the focus of networking is to targeting networking in born-global

firms.

iii. Discuss TWO (2) techniques of captivating customers that can be applied by Tella

Oy.

(4 marks)

a) Customers Feedback

The first technique for Tella Oy is known as the act of asking for customer’s feedback.

Customer feedback is one of the most important things for a business. There are various

things that can be obtained from customer feedback that can be a determining factor in the

development of a business. Customer feedback is information that consumers provide about

customer satisfaction and experience in using the products and services of your business or

startup. Customer opinion is important information to improve customer experience and

decision making in product development for consumer needs. This information can be

gathered from various types of surveys. Customer satisfaction and loyalty are important

factors that determine the company's financial performance. The reason is, it all has to do

with many advantages such as increased market share, costs, and income. Many studies

confirm the close relationship between customer satisfaction and company performance (Jha,

2020). Therefore, it is important to always maintain customer satisfaction

b) Connection

The second technique is known to be connection. Having connection, relationships or

networks is very important in the business world because there are so many benefits of

networking in business that can help you build a business and develop it to the point that you

expect or want. Building a strong network with other business people can also be one of your

ways in opening wider business opportunities and being known in the market. So, connection

happens to be an effort to build relations with as many people or companies as possible. It

can benefit each other in professional or business relationships (Rosen, 2005). The benefits

referred to here are not merely direct transactions in the form of material, but also include

long-term benefits, such as business references, access to information, collaboration

opportunities, and so on. Connection is one of the important factors that play a big role in the

process of achieving career success. In addition to good performance, having extensive

relationships is also a consideration in career advancement. In this case, it is needed to have

effective communication skills in order to expand relationships and build sustainable good

relationships.

iv. Based on (iii) provide ONE (1) example for each technique. (4 marks)

a) Example of Customers Feedback

In terms of giving feedback, customers of Tella Oy are provided by several options to map

out their feedbacks in social media. One of the traditional and effective ways to measure

consumer satisfaction is the Net Promoter Score (NPS) which is used to measure customer

loyalty and satisfaction levels to find out how likely consumers are to recommend your

product. The answer options range from 1 to 10. 1 is the most negative, while 10 is the most

positive. By asking consumers for their opinions, you are valuing each of their opinions as

well as building a positive image. You involve consumers in the development of the

company. By listening to their every opinion, you will have a stronger relationship with

them. How our product can really be a solution to these problems is important for business

continuity, and the way to measure it is through consumer assessments of the products of

your business. In this case, as a business person, we need to collect and manage a lot of data

to help implement business strategies. Customer feedback is one of the important elements

that can be used to make business decisions. Feedback from consumers about their

experiences with your product is very useful information. This can be a tool to continue to

develop products so that they are more suitable to what consumers need.

b) Example of Connection

In the sense of building such conmection, it is pivotal to make a great account of

consideration in applying the technique of Tella Oy into sequences:

- Tella Oy studies the market segmentation of its product

- Tella Oy has to map out possible markets with growing customers

- Tella Oy makes possible list of prospective connection

- Tella Oy conducts approach to be connected by maintaining offsite presence and

social media presence

 - Tella Oy continuously engages with their customers in making the whole progress

of being connected and networked.

v. Discuss any ONE (1) of these needs (Convenience Need; Comfort Need; Personal

Recognition Need; Self-expression Need; Co-creation Need) that Tella Oy can apply to

the customers. (5 marks)

According to Smith (2012) defines, “Convenience, the next essential of customer experience,

is a critical factor in determining how customers make decisions about what to buy, what

services to use, where to go, and with whom to engage. Conventional wisdom says that

convenience is a factor of time and effort”. To manifest it in prospective action, Tella Oy

really requires its company to enact such policy of making critical discerning and

engagement with customers. It is for the sake of fulfilling the convenicence need. The

company has to take such time and effort to win their customers heart in the sense of making

its customers of Tella Oy, coming from various markets, to be siding with them in decisional

making or even problem solving.