In these unprecedented times, the savvy consumer/buyer is no longer willing to outsource their decision-making to marketers, salesmen or retailers.
In buying a product/service, they are choosing a mix of Product/Service, Price, Presentation and Place that represents good value for money. In making the choice, they are factoring in a combination of product performance and integrity of the seller.
Any short-changing by the seller automatically makes the price seem expensive - a bad deal - causing the consumer/buyer to refuse to buy, or even litigate in some cases…
More importantly, the praise/complain ratio kicks in, whereby a satisfied customer tells one friend, whilst an unhappy customer tells ten…
Ethics, apart, it surely makes sense to manage expectation down to a point where the customer always receives more than expected, and willingly comes back for more….
Our contribution to a discussion led by Peter Ramsden on the Key Account Managers Group
In buying a product/service, they are choosing a mix of Product/Service, Price, Presentation and Place that represents good value for money. In making the choice, they are factoring in a combination of product performance and integrity of the seller.
Any short-changing by the seller automatically makes the price seem expensive - a bad deal - causing the consumer/buyer to refuse to buy, or even litigate in some cases…
More importantly, the praise/complain ratio kicks in, whereby a satisfied customer tells one friend, whilst an unhappy customer tells ten…
Ethics, apart, it surely makes sense to manage expectation down to a point where the customer always receives more than expected, and willingly comes back for more….
Our contribution to a discussion led by Peter Ramsden on the Key Account Managers Group
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