Xerox Company: Customer Development and Retention Strategies Analysis

This essay focuses on customer development and retention, emphasizing the importance of long-term relationships between organizations and their customers. It analyzes Xerox Company and provides recommendations for enhancing brand loyalty. The essay suggests the use of constant research, including matrix analysis and customer feedback mechanisms, to understand why customers leave and identify areas for improvement. It also recommends establishing a customer-centric online platform to gather feedback and refine strategies. Furthermore, the essay stresses the need to evaluate the effectiveness of loyalty and rewards programs in driving repeat business and ensuring long-term success. The essay references several academic sources to support its arguments.

Running head: CUSTOMER DEVELOPMENT AND RETENTION 1
Customer Development and Retention
Student’s Name
Institutional Affiliation

CUSTOMER DEVELOPMENT AND RETENTION 2
Customer Development and Retention
Customer development and retention entail the objective strategy of an organization
having to maintain its long term relationship with their customer. It is a strategy that helps an
organization to reflect on its loyal customers at the end of its trading period effectively (Agolla,
Makara, & Monametsi, 2018). It is a continuous process that requires the responsibility of every
member of the organization to ensure that the company retains and advances in their brand
loyalty through all levels of customer loyalty (Preikschas, Cabanelas, Rüdiger, & Lampón,
2017). The essay will thus look at the various recommendations that an organization can
successfully use in the quest to maintain and improve its brand customer loyalty in the long run.
The various recommendations include the following;
The first recommendation to deliver for the long term in Xerox Company is constant
research, with research; the organization should set up matrix analysis on for instance, why their
customers are leaving and analyze ways in which they can easily create ways to address the
issues (Appel, Haenlein, Libai, & Muller, 2017). Research can entail the organization sending
out open-ended questionnaires to ascertain the reasons why customers are deflecting.
Xerox Company being a customer-centered organization, can create a product, offers, and
product-based customer site that will link the organization to its customer base (Min, Zhang,
Kim & Srivastava, 2016). With such an elaborate means to the collection of feedback and help in
shaping the strategies to improve the future. Having a based customer site is an essential practice
that helps to analyze the preference of customers and better build on brand loyalty that is
required.

CUSTOMER DEVELOPMENT AND RETENTION 3
Xerox Company should set up an evaluation of whether loyalty or a program that
appreciates rewards is the best strategy to drive a drive repeat type of business. The essential
requirement and need to sustain a future environment in a business is to evaluate the system of
operation that best fits your customer base (Ascarza, Neslin, Netzer, Anderson, Fader, Gupta, &
Provost, 2018). Determining whether loyalty or rewards programs in business are the way to go
for the future helps the business to move forward in the right way.

CUSTOMER DEVELOPMENT AND RETENTION 4
References
Agolla, J. E., Makara, T., & Monametsi, G. (2018). Impact of banking innovations on customer
attraction, satisfaction, and retention: the case of commercial banks in
Botswana. International Journal of Electronic Banking, 1(2), 150-170.
Appel, G., Haenlein, M., Libai, B., & Muller, E. (2017). Customer Retention in a Product
Platform World (Doctoral dissertation, University of Maryland).
Ascarza, E., Neslin, S. A., Netzer, O., Anderson, Z., Fader, P. S., Gupta, S., ... & Provost, F.
(2018). In pursuit of enhanced customer retention management: Review, key issues, and
future directions. Customer Needs and Solutions, 5(1-2), 65-81.
Min, S., Zhang, X., Kim, N., & Srivastava, R. K. (2016). Customer acquisition and retention
spending: An analytical model and empirical investigation in wireless
telecommunications markets. Journal of marketing research, 53(5), 728-744.
Preikschas, M. W., Cabanelas, P., Rüdiger, K., & Lampón, J. F. (2017). Value co-creation,
dynamic capabilities, and customer retention in industrial markets. Journal of Business &
Industrial Marketing.