Theories Related to Customer Experience in Market
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Added on 2019-11-26
Theories Related to Customer Experience in Market
Added on 2019-11-26
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Running head: MARKETING MIXMarketing mixName of the student:Name of the University:Author’s note:
1MARKETING MIXPart A- Project plan and structureCustomer experience is an important focus of marketing activities in any industry. This isbecause customer experience determines the success of any product or service and theprofitability of business. Marketing researchers present in competitive organization pay a lot ofattention to identifying the needs and changing demands of consumers regionally and globally.This enables them to determine the factors needed for positive customer experience and apositive customer experience in turn drives customer loyalty (Gounaris 2015). Customer loyaltyis maintained by providing an exceptional experience to consumers and positive customerexperience is directly related to customer retention. A satisfied customers are more likely torecommend the service or product to potential consumers and affect the brand loyalty too(Nysveen and Pedersen 2014). However, the current challenges for marketing leaders is thatcustomers are now much informed about different products and services available in market dueto the advent of technologies and social media sites. Hence, all information related to product isat their finger tips now. In such case, it is challenges to constantly provide innovative customerexperience to target consumers. To plan strategic factors that are necessary to improve customerexperience in a dynamic and challenging business environment, there is a need to reviewliterature on integrated customers experience and the relevant theories that drives customerexperience marketing. This literature review analyzed peer reviewed journal articles by thematicanalysis process and discusses the integrated customer experience under specific themes. Part B- Literature reviewThe definition of customer experience is evolving in dynamic nature of businessenvironment. Thematic analysis approach has been used in this literature review to search and
2MARKETING MIXanalyze peer reviewed research article related to the topic and categorize them under key themes.The following are the themes coming out after reviewing literatures on integrated customerexperience in marketing:Theories related to customer experienceMany research studies have evaluated the customer-brand relationship by the applicationof the interpersonal relationship theory. For instance, Peter, (2014) used the interpersonalrelationship theoretical framework to study about the impact of interpersonal relationship onmarketing performance. It focused on social exchange theory and the uncertainty reductiontheory to interpret the research data. The social exchange theory explains that give and take isnecessary to strengthen any relationship, so feelings and emotions of recipient should bereciprocated to develop a good and long lasting relationship (Cropanzano et al. 2016). Thisconcept may be applied to develop strategies for improving the customer experience too.Secondly, the uncertainty reductions theory gave idea about the stages two individual go throughwhen they are strangers and have no knowledge about each other (Hogg, 2016). Therefore, theuncertainty reduction theory gave rise to a framework or strategies to replace uncertainty andambiguity with familiarity and security in an interpersonal relationship. Hence, with the use ofthese theories, Peter, (2014) came to the conclusion that interpersonal communication isnecessary for positive influence on marketing performance. The quality of friendly interaction isone dimension of interpersonal relationship. Therefore, the study gave the implication thatincreased attention to relationship marketing strategies is important for sustaining customerloyalty and improving marketing performance. Changes in perception of customer experience with time:
3MARKETING MIXCustomer experience has become a major focus in management and marketing practices.The definition of customer experience may change in different business-to-business setting. Thestudy by McColl-Kennedy et al., (2015) provides the perspective that in today’s businessenvironment, customer experience is controlled not just by service provider, but also by theinfluence of devices likes smart phones and internet. Majority of studies has focused onorganization’s perspective to understand customer experience, however McColl-Kennedy et al.,(2015) emphasized on the broad role of customers in customer experience and identifying thedynamic nature of customer experience with time. While identifying the current gap in researchon customer experience, the study revealed that customers are no longer a passive recipients ofproducts or services. They are well-informed about their choices and they provides new ideas forservice innovation and enhancing customer experience. The study proposed practice-basedapproach to understand consumer experience and this can be done by focusing customer’spersonal value base and the factors that drive their engagement with product or services.Therefore, the study was successful in proposing future approach needed to evaluate customer’sperception and change in their experience overtime.Role of technology in customer experience: Internet and other technology have transformed the retail environment too. Currently,retailers are investing in different technology to provide unique customer experience. Blázquez(2014) evaluated the role of technology in enhancing online shopping experience in the fashionindustry. The research particularly explored how internet and digital technology has changed themultichannel shopping experiences of consumers. The concept of shopping values was definedin this study by the hedonic and utilitarian value. Hedonic value referred to the emotive elementof shopping experience whereas the utilitarian value referred to the task oriented purpose f
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