Customer Centric BSC

Today’s world competition is very strong in every kind of businesses. Every organisations must provide high quality products or services in order to survive, however their competitors also providing the same or comparable products or services. An important way to an organisation to get an edge over its competitors is to provide extra service to satisfy and delight their customers, which can retain them and also gain new customers. Therefore the achievement of customer satisfaction must be a major objective in all organisations.

The Customer Satisfaction category allows the experts to look at the company’s design and delivery of products and services with a high level of customer satisfaction. The applicant will need to address how the company identifies market segments, the level of focus on the market segments, how product features and service are selected to best serve the market segments that were identified, how the company develops customer relationships, key factors in customer satisfaction and how the company obtains and utilizes customer feedback to improve performance.

In the final phase, there were four metrics are difficult for me to understand includes the brand and market penetration, the share of requirements and the customer profitability. I could not confirm which data was represented the “Total Population” and I still confused about the meaning of share of requirements. Additionally, I have been unable to determine whether the last two columns of data (Category spending and Subcategory spending) in the dataset were used to calculate the Share of requirements formula. In my mind, the ‘80:20 rule’ usually refers to the 80% profits came from the 20% of customers, nevertheless, 20% of the customers would generate above 100% profits based on the analysis of “whale curve” (Čermák, 2015).

Customer Value is ‘the performance characteristics, features and attributes, and any other aspects of goods and which customers are willing to give up resources’ (Robbins, Bergman, Stagg and Coulter, 2012). This broad definition highlights the fact that there are multiple aspects that contribute to create a sense of value within the customer.

The customer analysis is the depth analysis of the end-users; this entails all of the characteristics of the customer. These characteristics include the following:

Customer satisfaction is the customer’s evaluation of a good or service in terms of whether it has met their needs and expectations (Vander Schee, 2016). The culture of the organization is to focus on delighting customers rather than on selling products (Lamb, Hair, & McDaniel, 2017). An example of a highly satisfied customer would be Nicole Snow, who owns a small business in Maine. One day she reached out to FedEx on social networks and asked for help in getting her supply chain set up. The team responded immediately and helped her solve the problem (“FedEx,” 2015). Here customer satisfaction is greatly shown the customers’ needs and expectations have been met by

The company continues to lag in its industry in customer ratings, stock price and profits. Customer-focused companies measure service and sales, sometimes in unusual ways, and then share it so it is relentlessly applied to achieve better results.

Since metrics is reliant on sales cadence accuracy (sourcing by sales and reporting by management) the data I have is incomplete; nonetheless, here is the data.

The second area of concern is the customer perspective. One area of focus within this area should be the retention of our customers (M.U.S.E., n.d.). This can be measured using our sales records and customer databases as well as referencing the information within our NPS. Another area that should be considered is the area of customer satisfaction. The NPS system gives us a strong insight into how our customers feel about the products and services that we provide to them. The higher the score is the better. Our employees should be compensated for keeping this score at a high level.

What’s more, the primary goal is to make customers satisfied, however, the way to check if customers are satisfied is not direct enough, so they should find out some direct measures. The company tried to use its six area method to speculate customer satisfaction, especially based on the call back rate. This way is kind of indirect, if the company wants to know their customer satisfaction, what about just ask their customers? In the case, when the IMMULITE 2000 is going into work, the company was sometimes able to solve a problem before a customer was even aware that it existed. This way is a direct way: solve the problem before a customer aware, and then the customer would be happy about that.

My overall strategy was to ensure that I have a good customer satisfaction as product quality and performance was most critical. While we did have customers A and D who were large customers and value conscious – quality and performance across all

Customer satisfaction and service quality are the two important components that direct anyone’s attention in every concept related to marketing, services, etc. (Spreng and Mackoy, 2006). In today’s competitive era, the success lies in

Organizations like Amazon store realized that attaining long-term customer value through delivery of quality services is the key to their existence. Also, be alert to the customer’s needs and wants, because having a loyal base of satisfied customer brings relevant performance indicators. For example, increase in sales improved profits, and possible higher market share (Shamma & Hassan, 2013).

It would have been good if this fundamental vision was in place right at the very beginning of the company’s formation. In the end it is the customers that make the company, so it makes sense to work towards satisfying this customer relationship. To become profitable and achieve market share are secondary objective that can be measured on a annual basis and overall company well being targets can be rewarded with incentives that link into the company’s performance as opposed to individual contribution to the company’s success.

Measuring customer relationship metrics is invaluable for those firms looking to create a long-term sustainable competitive advantage. Analytics and metrics that measure customer satisfaction and the extent to which their expectations are met and exceeded is the foundation of understanding what is and isn't working from a marketing standpoint (Smith, Bolton, Wagner, 1999). Analytics, key performance indicators (KPIs), metrics and the accumulated base of Business Intelligence (BI) that is generated for the use of metrics is the galvanizing force that unifies all CRM strategies in a company (Azvine, Nauck, Broszat, Lim, 2006). It is also the basis by which companies gain greater insights into how the expectations, accumulated experiences and preferences of customers vary by market segment