The For A Long Time Companies

In the modern world of business, it’s possible for a business to cater for both its best interest and that of the consumer conjointly. The best interests of most companies, for example those in the fast food industry, include maximizing profitability by increasing sales (Forschler, 2013). However, it’s possible for them to cater for the best interest of the consumers, such as increasing consumer satisfaction, only if they utilize state-of-the-art

The Fortune 500 Company chosen for this paper is the Lockheed Martin Corporation. Lockheed Martin is a global securities and information technology company headquartered in Bethesda, MD. Lockheed Martin employs roughly 126,000 people in several facilities throughout the world. The company's main business is in research, design, development, manufacturing, integration and sustainment of advanced technology systems, products and services. Lockheed consists of four operating units, or business areas, which consist of Aeronautics, Electronic Systems, Information Systems and Global Solutions, and Space Systems (LMC, 2011).

Another key objective of this case is to illustrate how unrelated incidences can effect business. The participants are encouraged to analyze potential links between controllable and

Further, it would open the business up to an increased amount of processing error. This could result in unhappy vendors who might cease working with the store, giving The Store a bad reputation resulting in loss of products in market consequently the potential decline in revenue.

To truly understand the consumer’s needs one must listen to what the consumer wants and desires, it takes very little effort on the part of Company Q to understand the needs of its consumers. The effort we make can be the difference between a store’s success and a store going bankrupt. Insuring that Company Q's stores standout amongst its competitors in the marketplace will help give Company Q a competitive edge.

Consumer confidence will be lowered. The confidence lowered due to the company not accepting reasonability and fixing the problem. The company operated morally, but didn’t give the customer the full product and customers will remember that.

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

This way, they are able to share the personal experiences they have had with the product to the consumer.

Some customers are excited about the new change that and others are dreading it. I

Also word would spread about how bad their customer service and again add the loss of business.

4. Differentiation is under loose results control. Managers are given freedom for decision-making at their department, they can decide on design of the products, marketing methods, raw materials, etc. as long as they provide high quality environmental friendly products and quality customer services. However, they have the 3-5% growth limitations that prevent them from behaving “too well”. They are rewarded for the same percentage as employees if the company makes profits.

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

Tangibles: It is important to create a positive impression on potential and more importantly existing customers. All the touch points in any customer service design must communicate a company’s vision to its customers. These touch points would include the office space, the regular product quality, the staff. In the case of Innovative Widgets, it would be the knowledgeable staff. It is always comforting to any customer if the staff assigned to their case is knowledgeable.

To the old customers, it would increase their confidence toward the company and encourages them to continue to try the product. Lastly, sales would automatically increase and the market would expand due to the high demand of the service.

Customer satisfaction is the backbone to being successful with in a business atmosphere. Steve and Dana were obviously not satisfied because their experience did not match their expectations (customer satisfaction was not reached). For this