Objectives And Goals Of An Operational Strategy

Customer loyalty plays a very vital role in an organization’s success or not always, is a very interesting debate. It has been suggested at several literature that loyal customer generates ongoing revenue and they also assist in generating profitable business income to any organization. At the same time research also suggests that there are other views available in relation to the concept of loyalty. The important factor to understand is weather those factors lead to long term business profitability or not. In my opinion regardless of other considerations, customer loyalty plays a great input in the business benefits and revenue. Today’s literature review will put some light on both customer loyalty as well as other consideration. It will further emphases the importance of the customer loyalty aspect and its impact on the revenue of the firm by supporting the concept of customer loyalty.

Lenscrafters mission statement depicts the purpose of its existence and the company’s aspirations and values. Each department in a corporation derives its strategy from the overall business goals. The operations strategy entails collective actions stimulated, chosen, and mandated by the corporate function. The operations strategy consolidates different actions and decisions into a consistent and cohesive response of competitive mechanisms that link the firm’s systems, programs, and policies (Slack, 2015). Lenscrafters operations technique is to offer high-quality eyewear to its customers.

Over the decades there were tremendous amount of challenges for every business. Customers have more knowledge, they have more options, and they have higher expectations. Customers are more informed with the humungous development in technology. Having more options in front of them, expectations has surpassed in retail industry. Loyalty is a customer having faith that your organization’s product or services offered is the best for them. It is the process of tapping the buying pattern of customers in a store based on their preferences. Customer loyalty is significant because it is economical to retain the old customers rather than acquiring new customers. So, organizations employ loyalty programs which reward customers for their repeat business.

This literature review explores the relationship between customer satisfaction and customer loyalty and how do these theories affect businesses in hospitality industry. Hence, there are many researchers that have studied about these two concepts that will help people to better understand about the two theories.

Operations refer to the day to day working of the company. By developing operational strategies, companies implement effective systems that support resources, and determine the steps needed to continue success. Some methods are Customer Driven, Core Competencies, Development of Product and Services, and finally Corporate Strategies. However, I will focus on Operational Strategies within Lenscrafters. The day to day involves the backend and detailed flowed among their different departments. The approach followed by Lenscrafters is to ensure it is followed and effective. It also helps to manage long term issues and their production of their product and services. The purpose it to have a product that is considered tailored to the consumer and

This research aims to know the influence of product quality and customer satisfaction toward customer loyalty. This type of research is a research

The market will allow us to determine our marketing sharing results. There should be an increase of 2% each year for our marketing sharing.

Customer loyalty is much harder to obtain that customer service satisfaction. The most important first step is to satisfy the customer by meeting their expectations. Customers only give a company one chance and if they aren’t satisfied they will not do business with that company again, as well as tell others of their experience. The next step would be to exceed the customer’s expectations. If a business goes above and beyond to assist the customer they begin to build loyalty. The next step is to truly surprise the customer. In order to dominate the marketplace the company must find a way to make them selves stand out with their product or service, accompanied with phenomenal customer service. Once this has been done customer satisfaction and loyalty will be gained. “Acquiring a new customer can cost four or five times more than keeping a current customer” (Bestmark, 2013). So it’s essential to keep the current customer’s happy and coming back for more.

Operational planning is setting up procedures and processes at the lower level of the company in order to meet the overall goal of the company. There are different factors for each company that affects the operational plan and how it is laid out. The operational plan can also greatly influence the success of a company. There is a direct correlation between the operational plan and a company's strengths and weaknesses. The operational plan must also take into consideration the various opportunities open to the company as well as current trends and threats in the market. All of these factors are very apparent in the way Wal-Mart has set up its operational plan.

Similarly, Molinari, Abratt, and Dion (2008) assert that there is a direct and strong link between customer satisfaction and customer loyalty behavior. If the customers enjoy the product or service, they will not be bothered to become loyal to the company. In other words, high levels of satisfaction commonly occur when the customer is delighted or happy with either the products or services provided by a business supplier. As Caceres and Paparoidamis (2005) state, customer satisfaction levels are determined and influenced by many elements. For example, it is commonly admitted that the customers will naturally repeatedly return to the company when things are done right, or in other words, business service companies successfully meet the customer’s expectation (Gil-Saura, et. al., 2009). Furthermore, increases in satisfaction could result to increase customer loyalty. A business enterprise, which could address the elements moderating the level of satisfaction of customers, probably would reach the higher level of loyalty. In other words, customer satisfaction is likely to improve customer loyalty in general.

In order to operate a successful and profitable business, certain strategies must be put in place. One very important strategy is customer relationship management. To ensure that every customer has the opportunity to receive exceptional customer service and the ability to become a loyal customer, an organization must follow these steps. First, the organization must evaluate their current customer service strategies and organizational goals. This will help decipher strengths and weaknesses of the organization. Once the organization’s weaknesses are determined, action must be taken immediately. The weaknesses should act as opportunities, while the strengths can be used as something to capitalize off of. If an organization lacks a loyalty program, their next step would be to design one that correlates with their business model and organization goals. Once an organization redesigns their customer service strategies and customer loyalty programs, they will need to accurately apply metrics to successfully measure the value of the changes being made.

In order to build and sustain a competitive edge, service organization need to strive to maintain a superior quality of services in an effort to gain customer loyalty, hence improving customer retention rates.(Kadampully,1998)

An operation strategy is a means by which a company or organization sets a plan of actions to run and meet the organization's goals and objectives. Lenscrafter has a unique strategy that attracted a lot of customers to it. The approach is called differential strategy. This is a method where a company manufactures and produces exceptional quality products that are different from any other film (Liu and Ko, 2014). Lenscrafer used this style which attracted a lot of customers. More so they had an optometrist feature in their film or in

The operating strategy illustrates how the company will achieve the objectives, goals and vision and it incorporate the activities to be undertaken as described in the strategic plan goals, people responsible for doing these activities, and the targeted time, expenditure and KPIs connected with these actions. The operational plan should apply to the life of the strategic plan, but should be reviewed on a regular basis to ensure sufficient progress is being made towards achieving the objectives and so priorities can be revised as necessary. The plan starts with objectives and evaluation of opportunities in the market and available resources. It also includes service operations concept indicating the geographical scope, setting up of operations, illustrates facilities design and layout and specifies when and how operating resources will be used to perform particular activities. The process also includes sequencing the different steps involved, the amount of customer contact and the nature of the operational processes. Finally, performance evaluation involves measuring performance against pre-determined standards

The term “Brand Loyalty” also called as “Customer Loyalty” has been in the business industry since a very long time as a model to be used in conducting business. But it wasn’t until the mid to late 1900’s that the term was actually given its due importance by making it a vital part of advertising and marketing. The concept of marketing evolved substantially from being focused on sales of a product to having Customer satisfaction to be its focal point. Studies further revealed that there was a positive correlation between customer satisfaction and Brand Loyalty.