This report discusses the value proposition of Wilko, a UK-based retail company, and how it delivers customer experience. It also covers the Six Pillars of Customer Experience Model and its application to the firm, as well as the implications of digital disruption to delivery of CX. Recommendations for improving CX are also provided.
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................................2 MAIN BODY...................................................................................................................................2 1. Setting out what the value proposition is of the selected organization....................................2 2. Setting out how this manifest itself in how it delivers the customer experience.....................3 3.Settingout who are its customers by frequency of use by key demographics and how they may relate to 1 and 2....................................................................................................................4 4.Setting out what is The Six Pillars Of Customer Experience Model........................................5 5. Critically applying the application of six pillar CX model within organisation......................6 6. Implications of digital disruption to delivery of CX for firm..................................................7 7. Recommendations to organisation for improvising the CX....................................................8 CONCLUSION................................................................................................................................9 REFERENCES..............................................................................................................................10
INTRODUCTION Consumer experience CX refers to the impression which the consumer has of organisational brand. It emphasises on relationship between firm and their customers, every organisation works on improvising their consumer experience in order to get positive response and to accelerate their revenue rate. Present study is based on Wilko, UK based high street retail company that deals with household products and services and aims to provide better consumer experience with their unique services. Following report will be going to cover value proposition of organisation, it also covers six pillar of CX model and its application to firm. Moving further report will also discuss implications of the digital disruption to delivery of CX. MAIN BODY 1. Setting out what the value proposition is of the selected organization. The value preposition acts like the statement which clearly defines the advantage of products and services that company delivers in the market. Wilko is retail store that sales homewares and the household goods across countries and it is running since last 90 years. Company has always focused to make life of individual better every day which is done by pulling resources together (da Costa Fernandes and et.al., 2020). The unique product selling proposition of Wilko is to offer vast range of products in the market with slogan that is little won, we call them. They offer wide variety of services and tries to make home a luxury place for their client. The chart to describe unique Preposition of company in market is as follows- WilkoCompetition PRODUCTSHardware store providing various products such as glassware, cookware, cutlery, Cake decorating items. Hardware store but with less number of products. CONSUMER SEGMENTFemales that ages 25 to 50 years. Females that ages between 30 and 40 years. VALUE PREPOSITIONPrice and value of the products. Trust of consumers. Convenience while purchasing Local Support. Luxury products. 3
3.Setting out who are its customers by frequency of use by key demographics and how they may relate to 1 and 2. The given below points will be describing the consumer segment basis and the target consumer for selling products of the Wilko- ParticularsSegment basisTarget consumer GeographyRegion370 stores across Wales and England. ageAll age. DensityUrban DemographyGenderMainly females IncomeMiddle class income category Social StatusWorking and highly skilled. Psycho graphicLifestyleLuxury. PersonalityEast going. BehaviouralUser statusActive users. AttitudeSceptical. The above listed points are targets segment for company Wilko. Working as one of the biggest retails store in the market of UK, Company has defined a clear demography of its consumer segment. The segment described can only be retained when Wilko has focused on all the touch points that will be enhancing the experience of the consumer (Ieva and Ziliani, 2018). The target points before purchase, while purchase and after purchase will be benefiting company in terms of the profits. As social media is one of the most important touch point that will bring consumers to the company, Wilko should focus on building best social media insights for company. 5
4.Setting out what is The Six Pillars Of Customer Experience Model. The six pillars of customer experience model is as follows- Integrity- It is very important pillar of the consumer experience model which simply meant to display the trustworthiness of the company on the constant basis. Trust and integrity also meant that how company socially, ethically and morally serve the purpose of the organization. Wilko should also focus on building and engendering trust (Saini and Singh, 2020). Resolution- The another support pillar is resolution which meant to recover poor experience of consumer into the good experience. Wilko should also focus on positioning its company such a way that it fixex problem of the consumer and gives them benefit that they are looking for in the company. Empathy- Emotional connect is also needed for ensuring the purpose of the organization. Establishing strong connect allows businesses to solve the problems that the consumers are facing in the market. Empathy is associated with the emotional intelligence of an individual. Expectations- Meeting expectations of the consumer is most important pillar for the consumer experience model. This is needed that company set highs standards for themselves by satisfying need and wants of the consumer. Wilko should serve its brand promises and regularly interact with consumer in order to know what it being demanded in the market. Time and efforts- Consumers need instant supply of products that they want. Consumers don't have much time to spend on grocery stores and removing all those obstacles that delays the decision-making power of the consumer increases benefits that the company is looking for. Competitive advantage can only be gained when company cut all its costs on the pillar that are not satisfying needs of the consumer. Personalization- This simply means to add valuable component in the experiences of individuals. The duty to understand and value the needs of consumer is first thing that is need to be done. Another thing
ispersonalizationbypastinteractionsandgivingattentiontothesmalldetails.Great personalization gives more value and control to the company. 5. Critically applying the application of six pillar CX model within organisation Six pillar CX model actually shows what kind of emotional outcome is required in order to provide an exceptional consumer experience (Hamacher and Buchkremer, 2022).Consumer experience always develop a foundation for loyalty and helps in improvising the consumer retention. People looks for high quality goods and services at optimal price range, consumers are willing to pay more if they feel that particular firm is giving them extra value in every interaction. First pillar of this model talk about integrity, where firm have to trust their employees and their behaviour must demonstrate trustworthiness. Wilko also need to make sure that they have corporate culture where every employee is treated equally and management also responding them with transparency. If there is no trust in work culture then there is more probability that firm will face vulnerable situations like employee turnover, low productivity and low consumer satisfaction etc. Another principle is about empathy and expectations, Wilko also need to show empathy as to kind with their consumer and listen all their request otherwise rude behaviour will certainly impose challenges for business. Basically consumer fulfilment can be derived as differences between expectations and real delivery, Wilko also need to understand what their consumer is expecting into their items and services in order to ensure their better retention. In terms of resolution principle, every firm need to be accountable for their problems, for an instance due to failure in meeting consumer requirement, therefore if there is any case arise for Wilko they need to apologise to their consumer this will make sense otherwise they have to face consumer turnover (Huang and et.al, 2019). Time and effort always plays a crucial role, Wilko also need to work on reducing consumer efforts and to develop frictionless process so that audience satisfaction can be achieved, company requires to provide on time solution to consumer query otherwise failure in this will give negative impact over business. Personalisation principle always give better business outcome, it accelerates the CX process, Wilko also provides personalised services and products to their consumer in order to address their specific needs, that is why they have potential consumer base. Therefore, these are the principles which need to be follow in order to get positive response of consumer. 7
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6. Implications of digital disruption to delivery of CX for firm Digital disruption refers as effect that drives potential changes in fundamental assumption and behaviour in culture, market and process which is mainly driven by digital capabilities and channels. On the basis of Mckinsey, it is said that CX digital disruption can maximises the total revenue of firm by 20-50 percent. Every consumer interaction is unique and with analytics and personalised journey helps in achieving all consumer needs. Digital disruption has impacted consumer experience in some ways which are discussed below: Loyalty apps:loyalty scheme is basically a reward program that is made for consumer who instantly buys a product, through such consumer develops a psychological relation with the brand, where they can easily get the rewards and free items over their frequent purchasing (Yang and et.al, 2022). This loyalty program is definitely providing hike in revenues as well as companies are able to increase their sales. Thus Wilko also have to do similar like loyalty scheme as to provide voucher to their consumer over their purchasing as well as they have to work on such app to be installed in consumer’s phone so that their queries can be addressed promptly. E receipts:It is latest and efficient method that shows proof of purchasing in store. With the help of this organisations can easily track their consumer and forward email about relatable products which their consumer has purchased earlier (Bag and et.al, 2021). Wilko will be benefited if they have such system as it positively impacts consumer satisfaction like by the use of E receipt will also reduce environmental impact because there will be no use of paper. Therefore, by using different digital channel also helps in providing better consumer experience, by the use of such organisation will be able to collect consumer data and can carry out more personalised campaigns. 7. Recommendations to organisation for improvising the CX CX always plays a significant role in better operability of organisational business, there are range of recommendation made for Wilko are discussed below- Value employee ideas:Employee are the frontline which interacts with the consumer, it is important for every business to make sure that their employees are satisfied with working conditions and other system (Grab, Olaru and Gavril, 2019). Workers who are valued at workplace are more likely to seen engaged in work, therefore it is recommended to Wilko to
always listen ideas which is suggested by their employees, ultimately it will help in providing better consumer experience. Utilise technologies to develop breakthrough CX:Artificial intelligence and machine learning technologies are available where chat bots work for 24/7 that helps in providing better solution to consumer query. Therefore, Wilko also need to use such technology that helps in collecting user data which supports the decision making process, it further helps in streamlining services so that consumer satisfaction can be achieved. Embrace omnichannel mind-set:Wilko can proceed to use multiple channel in order to get huge responses for their products, it helps in prioritising the CX where firm can easily address the specific needs of consumer. Personalised:Wilko can begin to conduct survey about what consumer is actually looking for thus it will help them to provide personalised services to each consumer. Open text feedback in surveys:Feedbacks or query generated from audience always helps in developing better relation between firm and consumer, therefore Wilko also need to allow their consumer to make comment on their products and let them know what specific changes they require in services and product so that firm can do modifications accordingly. Improvise consumer services:By providing multiple channel for support as well as providing real time solution is extremely beneficial for the organisation. Therefore, by following all above recommendations, firm can easily improvise their customer experience. CONCLUSION From the above report it is concluded that CX creates a lots of business opportunity, where firms are required to deal with their consumer patiently and to respond back to their queries in no time. Above have discussed the value proposition of the organisation where it also highlighted the six pillars of CX model. Furthermore, report have illustrated the range of discussion over implications of digital disruption that made in delivery of CX, while it also included the recommendation for business. 9