Marketing
Marketing is an important business component for establishing success. If organizations want to be successful, they have to identify their customers, understand their needs, and meet or exceed customer satisfaction. Organizations must constantly work hard to attract customers with low prices, ad campaigns, and redesign of products. According to Schewe and Hiam, organizations do not need a formal marketing department must do marketing to survive and do it exceptionally to thrive. It is about looking at your business from your customer’s point of view. Organizations must touch the customer and satisfy their needs otherwise they will lose business and will not be able to compete for new customers. To retain customers, organizations improve customer service, warranties, and quality of their products. High customer attraction and high customer retention will result in successful sales and profits.
The Customer
Unfortunately, overall customer satisfaction has been declining since the late 1990s (Schewe & Hiam, 1998). It seems customer satisfaction is not as much of a top priority as it was before. Organizations that focus on short-term needs, neglect satisfying their customers in the long-term and end up losing customers (Schewe & Hiam, 1998). The key for successful organizations is to be customer-oriented and ensure the products and services that are being offered are valued by their customers. Organizations that look at the business from the customers’ perspective have a drive to keep up with their customers’ needs. Organizations that adopt the philosophy that the customer is always right conduct business differently and accept responsibility for customer satisfaction (Schewe & Hiam, 1998). According to Schewe and Hiam, organizations must look internally to identify deficiencies in their processes, their employees, and the organization to understand why the organization did not retain current customers or attract new customers. When...