Corporate Strategy and Governance: Tesco Customer Engagement Analysis

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This report examines strategies to enhance customer engagement channels, focusing on a case study of Tesco plc. The introduction defines customer retention and its importance for business profitability, highlighting attraction, retention, and conversion as key elements. The study investigates Tesco's business activities and various strategies employed to attract and retain customers, emphasizing the significance of quality, affordability, and design. The research aims to determine the impact of brand awareness, assess the effect of engagement strategies, analyze the importance of customer retention, and recommend ways to define strategies for Tesco. The literature review explores customer retention, brand image, customer loyalty, and anticipatory services. The methodology section outlines the research philosophy, approach, design, sampling, data collection (primary and secondary), and analysis. Primary research findings, presented through questionnaires and interpretations, reveal insights into customer perceptions of Tesco's customer retention strategies, product quality, discounted offers, brand recognition, and online strategies. The report concludes with recommendations and an action plan based on the research findings.
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CORPORATE STRATEGY
AND GOVERNANCE
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Table of Contents
Topic- .........................................................................................................................................1
INTRODUCTION.......................................................................................................................1
Background of the study.............................................................................................................1
Research questionnaire................................................................................................................2
Rational of the study...................................................................................................................2
Literature review ........................................................................................................................2
Research methodologies..............................................................................................................3
Activities time and table..............................................................................................................3
LITERATURE REVIEW- .........................................................................................................4
Primary research- .......................................................................................................................9
Primary research........................................................................................................................10
Critical review of the result of research. ..................................................................................21
Recommendation and action plan.............................................................................................24
REFERENCES..............................................................................................................................26
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Topic-
To examine strategies to enhance channels that used to engage customers . A case study on
Tesco plc.
INTRODUCTION
The term customer retention is ability of business to retain customers. The main object
behind this is to help the companies to retain as many customer as possible. Thus, attraction,
retention and conversion (Sharma and Syam, 2018). With help of it, customer loyalty and keep
them satisfied is one of the foremost priority. There are number of the strategies that will be
helpful in terms to make the proper and effective services so that firm can able to have
enhancement in the profitability to the enterprise. Under this, with help of keeping eye on the
need and wants of the customers the improvement in product and services can be done
effectively. The present report is based on business activities of Tesco, it is global leading
enterprise and having the competitive image in the market.
Background of the study
The present report is based on the business activities of Tesco and various strategies that
helps to enhance channels that also used to engaged customers. Thus, customer retention is one
of the major elements that helps to attract the buyers. For this, effective strategies are needed to
be selected so that it can be possible. The factors as are, quality, affordability and designing all
are the crucial elements that attracts customers (Litosseliti, 2018). Thus, main objective of
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customer retention program is to help the firm to retain as many customer as possible with help
of customers loyalty and brand loyalty initiatives. In this, it can be said that keeping existing
customer is often easier than acquiring the new one.
Aim-
To examine strategies to enhance channels that used to engage customers . A case study on
Tesco plc.
Objectives-
To determine the impact of brand awareness on the customer loyalty.
To access the effect of strengthen engagement strategy to enhance customer loyalty.
To analyse the importance of customer retention on the performance of the enterprise.
To recommend the ways to define strategies in terms to engaged customer with the Tesco
PLC.
Research questionnaire
1. What is the impact of brand awareness on customer loyalty.
2. What are the importance of customer retention on the performance of Tesco.
Rational of the study
The present study is based on the business activities of Tesco, It is global leading
enterprise engaged in terms to provide effective services to the customers. With help of this
research, the researcher can able to gain the depth knowledge about the topic of the research.
This topic will be helpful as with aid of it researcher can able to carry out their further research
activities in the proper manner. In addition to it, this kind of marketing channels will be useful in
terms to organize the effective marketing activities so that all things can be carried out in
effective manner. The main aim behind this is to analyse the impact of customer retention
strategies on the business performance of Tesco.
Literature review
Customer retention refers to the activities that organisation take to reduce the number of
customer defections. The main goal of customer retention program is to helps the firm to retain
as many customers as possible. As per the view of Kumar and Reinartz, (2018) states that Trust
and confidence on the firm will help to enhance the brand image in the market. This is one of the
effective terms in terms to identify the needs. According to the view of Lin and Wang, (2018)
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it can be stated that selling to the customers will be right way is the integral part of creating
customer loyalty. There is need to build relationship with the customers In addition to this,
stated that Implementation of the anticipatory services there can be elimination in the services
before it occurs.
In addition to this, stated that there are many kind of customer engagement strategy that can be
used in term deliver the great value to the customers. According to the view of Shah, Hussin, and
Wahab, (2018) stated that with the help of continuously improvement in the customer service
is one of the key element in order to bring successful process of the business activities. In
contrary to Kumar and Reinartz, (2018) states that with help of providing quality products in
the affordable price rate the customer can able to make the whole trust on the operational
activities of the enterprise.
Research methodologies
This is effective term in order to get the depth information about the topic of the research.
Hence, there are number of methods with help of which depth information can be gathered.
Thus, it has been defined in following manner as are-
Research philosophy- It is kind of belief with help of this data can be gathered, used and
analysed properly. Thus, this are of two types as interpretative, positivism, doxology etc. In this,
researcher will have the use of interpretative technique.
Research approach- This is plan and procedure that consist of steps of broad assumptions to
have detailed method of data collection (Litosseliti, 2018.). This are of two types as are
inductive and deductive. In this, researcher will have the use of inductive research to better
interpret the elements of the study.
Research design- There are set of methods used in collecting and analysing the variables
specified in research problem. Thus, there are descriptive, observational and case study method.
In this, the researcher will have the use of descriptive technique to collect the depth information
about the topic of research.
Sampling- In this, there are two techniques as are probabilistic and non probabilistic. In order to
carry out the present research the researcher will have the use of non probabilistic technique so
that survey can be taken effectively.
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Data collection- There are number of methods with help of which data can be collected as are
primary and secondary. In this, primary method will be adopted so that effective investigation
can be carried out with better framing of questionnaire.
Data analysis- This is process of inspecting, cleansing, transforming and modelling the data in
the effective mode (Sharma and Syam, 2018). There are two methods as are qualitative and
quantitative. With help of qualitative approach better and depth information about the research
can be possible.
Activities time and table
Activities 1st
Wee
k
2nd
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k
3rd
Week
4th
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5th
Week
6th
Week
7th
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8th
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9th
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10th
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Research topic
Literature
Review
Research
methodology
Effective
Proposal
Draw question
of research
Carry out
Research
activities
Data Analysis
and its graphic
Conclusion
and
recommendati
on
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Final Report
Editing and
Completion
LITERATURE REVIEW-
Theme 1: Determining the impact of brand awareness on customer loyalty
The brand strategy is the factor that is beyond the direct control of the enterprise. This is
the process that works as to building the brand image among the customers or consumers so it
should be methodically performed and monitored by marketing department. According to the
view of Das, Mishra and Mohanty, (2018) it can be stated that relaying over the brand is one of
the tactical decision that will be made by individual at the time of buying product for first time.
Thus, high brand recognition will be helpful in terms to translate into customers loyalty. In
addition to this, Chahal, and Bala, (2017) states that brand awareness is one of crucial element
that is significant indicator in terms to consumer knowledge about a brand. As per the view of
Loyyl and Kumar, (2018) state that this is crucial to be familiar with theories about consumer
buying behaviour in order to make the effective research about the choice of brand. Thus, buying
behaviour of consumer depends over attitudes, intentions, preferences, efforts to commitment so
that there be better identification within the commodities. Thus, Stokinger and Ozuem, (2018)
states that brand is the identity that firm aids to incorporates the both things as visual and
communicated aspects defined by the enterprise.
In addition to this, Kumar, (2017) states that understanding the consumer buying
behaviour is one of the typical term because that also works as to differ values attitudes and
behaviour. According to the view of states that it plays the role of equity to both consumer and
companies. The brand communicates certain attributes to the mind of consumer such as prestige.
This will be beneficial aspect in order to make it more attractive in the mind of the person.
According to the view of Krautz and Hoffmann, (2017) stated that brand is something that is
also defined various things as values, system and structure. Thus, the consumer will work as to
develop strong bonds with help of related commodities and this all makes purchase decision in
more frequent manner. According to the view of Hasan, (2018) states that specific brand will be
result in the brad design and brand symbols so that other individual in market can be attracted
towards the commodities.
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In this, role of branding is that it allows consumer in order to quickly recognise product in
market so that the brand position can be enhanced and firm can promote its services in the better
manner. In addition to this, states that Branding is the term that will assist the seller to segment
markets. It will be helpful in terms to value the product and service.
According to the view of . Stokinger and Ozuem, (2018) states that bran d extension is
kind of brand development strategy that help to build satisfactory image of product in the mind
of customers. Thus, perception can also affects the behaviour of customers and they liking
towards the product and services can be changed. There are many factors that also impacts
behaviour of consumer with regard to the purchasing decision with the references groups. This
kind of things can affects the brand preference in market. Thus, Kumar, (2017) states that
customer loyalty is attitude and behaviour that helps to satisfy customer with product and
services. Therefore, Krautz and Hoffmann, (2017) states that customer satisfaction is crucial and
it is useful in order to get success of firm and to have long term competitiveness. This kind of
activities will be crucial in terms to strengthen the behaviour so that it will help to bring long
term advantage. Thus, entity with high turnover rate may not be able to maintain strong personal
relationship with the customers and it creates negative environment and there can be reduction in
quality of the services provided to customers. As per the view of Hasan, (2018) states that
employees must have career development opportunities and high degree of involvement in
business so that all things can be conducted in better and effective manner. The brand is
something that is usually impact highly in mind of the customers. The owner of the enterprise
should works as to build the benchmark so that the firm can able to grab attention of buyers in
market.
Theme 2: Accessing the effect of engagement strategy of customer to enhance buyers
loyalty.
According to the view of Das, Mishra and Mohanty, (2018) states that customer success
strategies are always changing and it can also impact over the profitability and productivity
within firm. In addition to this, Chahal, and Bala, (2017) stated that consumer identification is
one of the terms that works as to be based on strategies of the past behaviour and various number
of the techniques that can affects the role of the consumer in the market. Thus, Quirke, (2017)
states that one of the way to build credibility for brand is a way that develops partnership with
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the people. Social media network is also one of strategy that is helpful in terms to engage the
customers so that it can be high impact over preferences of the customers.
The good reviews will help to boost the brand profile and also gains attention from new
customers. In addition to this, Kumar and Reinartz, (2010) states that enhancement in customer
engagement will be helpful in terms to spread positive word of mouth through blogs, social
media, videos, case studies and speaking engagement and other so that it can bring long term
competitive advantage. As per the view of Ascarza and et.al., (2018) states that the buyers in the
market always expects special treatment in exchange of loyalty. Thus, it is essential to connect
the customer with the brand so that productivity and profitability of the enterprise can be
maximised.
With help of incorporating and rewarding the engagement activities it is possible to drive
personalized experience and relevant communication and promotions. On the other hand, it can
be said that customer engagement is one of the core and with help of it there can be possibilities
in terms to highly engaged customers and to take better initiatives in terms to promote various
services so that there can be possibilities in terms to engaged customers. By engaging the
customer to the firm the all individuals can be to do the things effectively and this will be helpful
in order to build satisfactory performance.
Theme 3: Analyse the importance of customer retention on the performance of the
enterprise.
Customer retention is useful in order to enhance profitability and productivity of business
enterprise. With help of building, long and lasting customer relationship there is possibilities in
order to maximize quality of the services, communication effectiveness, rewarding loyal
customers and by offering innovative services so that customer can be satisfied and they can be
easier to retain. As per the view of Quirke, (2017) stated that the advertisement services as world
of mouth all gives credibility to function of enterprise and it also build satisfactory performance
so that competitive advantage can be achieved. According to the view of Kumar, (2017) states
that consistent high quality customer is crucial in order to build and develop active relation with
brand. The main motive is to build and make mutually beneficial and ongoing relation with
customer as brand and this all will be helpful in terms to provide satisfactory performance. In
addition to this, Loyyl and Kumar, (2018) states that with help of having transformation of
customers into brand advocates will literally provide two advantage as to engage and attract the
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buyers. Engagement is one of the strong indicator that firm is performing its duties in well
effective mode. As per the view of Stokinger and Ozuem, (2018) states that the retail firm need
to provide high quality product and the complainants of the customers must be hear in timely
manner so that there can be improvement in the services to enterprise.
As per the view of Krautz and Hoffmann, (2017) states that the buyer retention is also
assistive to enhance performance of the enterprise. In addition to this, it can be said that the loyal
customer are far less price conscious then the new customer in market as they know how to
value the firm and its product and services. There are number of the customer who are associates
with higher prices and quality services this can retained trust of customers and can able to deliver
good quality over the competitors. According to view of Hasan, (2018) it can be stated that the
things as revenue generation, product development, marketing, customers and all other things
plays crucial role so that foster constructive relationship with buyers can be build. The main
objective of the firm is to enhance and develop its brand position in market. This kind of the
activities will always be beneficial in order to build greater performance so that each things can
be done in the better and efficient manner.
Furthermore, customers are greater assets and they play crucial role in terms to build
satisfactory performance in enterprise. As per the view of Quirke, (2017) states that customer
engagement is kind of business connection in both external stakeholders and the enterprise with
the help of various channel of correspondence such as communication, product and service
brand. As per the view of Chahal, and Bala, (2017) states that customer retention can be
possible if the firm can take initiatives to handle the customers grievances and all steps are
needed to be taken so that things can be done in proficient mode. Thus, losing the customer can
have negative impact on the working of enterprise. Thus, keeping the customer will be helpful in
terms to develop relationship and also works as to building opportunities for future. In addition
to this, Ascarza and et.al., (2018) states that importance of customer retention will have major
impact on whole performance of business enterprise. With help of building the effective
performance there is possibility to have enhancement in sales with the existing customers. Under
it, the firm need to work as to build customer retention program in terms to create the time line of
typical customer relationship and it also works as to make contract with and the eventual loss of
the customers. According to the view of Kumar and Reinartz, (2010) states that the business
owner must taken the various initiatives in order to improve their customer retention rate. On the
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other hand, they are targetting and retaining the right customers so that there is more amount of
possibility to generate higher amount of profitability. Thus, retaining the repetitive customer will
provide base is that they can able to deliver great customer services experience. There are
number of factors with help of which there can be possibilities in order to offering fair prices of
commodities. However, states that there is all this kind of the strategies will works as to
reduction in the changes and problem customer experience and to take various initiatives in
order to maintain better business relationships. As per the view of Das, Mishra and Mohanty,
(2018) states that the entity must have chose some strategies so that there can be improvement in
loyalty with customers and this all provides long terms gain so that high amount of profit
maximisation can be possible. With help of implementing the online strategy the shop-keeper
will be capable in terms to take the direct feedback from the customers so that they complaints
about the products can be analysed.
Social sharing competition may offer the effective prices and this will be helpful in terms to
establish the better connection with customers so that all things can be done in better and
effective manner. The loyal customer should provide the attractive discounts so that it can
attractive the customers and helps to build greater satisfaction among the person. Thus, the better
image and effective quality of services will always be helpful in regard to build high amount of
the satisfaction among the customer's.
Primary research-
Questionnaire
1. Do you think Tesco is having effective customer retention strategy.
Yes
No
May be
2. Does Tesco is provides quality products to customer.
Yes
No
May be
3. Is Tesco provides offers discounted offers to attract customers.
Yes
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No
May be
4. Do you think brand recognition is essential for retaining customers.
Yes
No
May be
5. Does Tesco uses online strategy to attract the customers.
Yes
No
May be
6. What are the beneficial aspect of customer retention strategy.
Maximisation in profitability
enhancement in brand image
Retention of existing customers.
7. Does Tesco has able to maximise profitability by retaining customers.
Yes
No
May be
Primary research
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Theme 1: Tesco is having effective customer retention strategy.
Do you think Tesco is having
effective customer retention
strategy. Frequency %
Yes 21 70.00%
No 8 26.67%
May be 1 3.33%
Total 30 100.00%
Yes No May be
0
5
10
15
20
25
21
8
1
Frequency
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Interpretation- Based on the above report it can be concluded that customer retention strategy is
helpful in order to maximise the profitability in the enterprise. In this, there are total number of
the 30 respondents. In this, 21 said yes, 8 said no and 1 is not sure about it. Thus, it has been
stated that customer retention strategy is useful in terms to maximise the profitably and with help
of it there can be enhancement in profitability.
Theme 2: Yes, Tesco provides quality products to customers.
2. Does Tesco is provides
quality products to customer. Frequency %
Yes 23 76.67%
No 5 16.67%
May be 2 6.67%
Total 30 100.00%
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Interpretation- According to above diagram it can be concluded that with help of providing
quality quality products to customers it can be easy to attract the customers so that maximisation
can be possible. In this, there are total number of the 30 respondents. Out of it, 23 said yes, 5 said
Yes
No
May be
0 5 10 15 20 25
23
5
2
Frequency
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no and 2 are not sure of it. Thus, it can be said that the by providing quality in the products it is
possible to attract the long number of customers in market.
Theme 3: Yes, Tesco provides discounted offers to customer so that long term retention can be
possible.
3. Is Tesco provides offers
discounted offers to attract
customers. Frequency %
Yes 22 73.33%
No 6 20.00%
May be 2 6.67%
Total 30 100.00%
22
6
2
Yes
No
May be
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Interpretation- Based on the above graph it can be concluded that with help of providing
discounted offers the customer can be attracted towards the working of the enterprise. In this,
there are 30 respondents. Thus, 22 said yes, 6 said no and 2 have no opinion about it. Thus,
Tesco can maximise customers with help of providing attractive offers.
Theme 4: Yes, Tesco have the brand recognition in eyes of customers.
4. Do you think brand
recognition is essential for
retaining customers. Frequency %
Yes 24 80.00%
No 4 13.33%
May be 2 6.67%
Total 30 100.00%
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Interpretation- According to above graph it can be concluded that brand recognition is essential
in order to retaining customer. with help of it, this is possible to competitive advantage in
market. Thus, there are total number of 30 respondents. In this, 24 said yes, 4 said no and 2 are
24
4
2
Yes
No
May be
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sure of it. In this, brand recognition will be helpful in terms to retaining the customers so that
brand image can be developed in more efficient mode. This kind of things will be developed to
enhance brand image so that each thing can be maximised.
Theme 5: Yes. Tesco adopts online strategy for attracting customers.
5. Does Tesco uses online
strategy to attract the customers. Frequency %
Yes 26 86.67%
No 3 10.00%
May be 1 3.33%
Total 30 100.00%
26
3
1
Yes
No
May be
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Interpretation- Based on the above graph it can be concluded that Tesco works as to adopt
online strategies so that they can able to attract the more number of customers in market. In this,
there are total number of 30 respondents. In this, 26 said yes, 3 said no and 1 is not sure about it.
With help of having online strategy it is possible top cover maximum customer in market.
Furthermore, online strategy will be helpful in terms to meet and aware the customer in the
market. With help of it, this is possible to attract the more number of customers.
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Theme 6: The maximisation in customer retention strategy is effective in order to attract
customers.
6. What are the beneficial
aspect of customer retention
strategy. Frequency %
Maximization in profitability 12 40.00%
enhancement in brand image 10 33.33%
Retention of existing customers. 8 26.67%
Total 30 100.00%
12
10
8
Maximization in profitability
enhancement in brand image
Retention of existing
customers.
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Interpretation- Based on the above graph it can be conclude that maximisation in customer
retention strategy will be helpful in order to attract the number of the customers in market. In
this, there are total number of the 30 respondents. Thus, 12 said yes, 10 said no and 8 are not sure
of it. Thus, it is essential to attract the customer for the long period of time. Thus, the main
effective point about attracting the customer is to have maximisation in profitability.
Theme 7: Yes, Tesco works as to maximize the profitability by retaining customer for long
term.
7. Does Tesco has able to
maximize profitability by
retaining customers. Frequency %
Yes 16 53.33%
No 8 26.67%
May be 6 20.00%
Total 30 100.00%
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Interpretation- Based on the above report it can be concluded that customers can able to retaining
customer with help of effective strategy. In this, there are total number if 30 respondents. In this,
16 said yes, 8 said no and 6 do not have any opinion about it. Thus, most of the respondent said
that there is possibilities to maximisation in profitability by retaining customers. On the other
hand, maximisation in profitability will be helpful in terms to getting the things in more efficient
mode.
Critical review of the result of research.
Customer retention has become the buzzword in the modern scenario and the business
owners are taking various initiatives in order to bring improvement in the performance of the
enterprise. In addition to this, performance can be evaluated with help of financial measures so
that all function can be conducted in better manner. Hence, customer are backbone to the
business activities and with help of them it is possible to sustain their performance. Without
them, firms cannot be able to rum their operations systematically. In addition to it, managing the
customers are crucial and key focus has also shifted to attracting others. In this, customer
retention is the kind of obligation in terms to carry out business transactions with the particular
firm. Furthermore, customer retention is one of the major component that helps to bring long
term sustainability and it attract number of customers so that things can be done in the better
manner. In addition to this, retention of the customers plays ripple effect on business and world
Yes No May be
0
2
4
6
8
10
12
14
16
18
16
8
6
Frequency
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of mouth so that brand image of firm can be enhanced. Hence the customer are strong pillar of
the enterprise without them it is not possible to survive for the longer period of time. This will be
helpful in order to get the competitive advantage.
Moreover, customer relationships management is kind of concept in which major areas of
modern marketing and development will be taken into consideration. Thus, CRM is process that
is is useful in order to reflect variety of themes and perspectives. On the strategic level, the main
object is to create the value for both customers and shareholders so that all thing can be done in
effective manner. In order to build significant customer relations management there is must be
use of information that also focus on individual customer relations and to create design to adopt
one suitable strategy for maintaining long term relationships with customers. In this, both kind of
relationship as marketing and customer relationships management will work as to put their focus
on cooperation and collaboration between the company and its commodities. In this, it can be
said that the main goal of CRM approach is to enhance its marketing process and overall
productivity. The effective implementation of CRM will be based on customer experience,
customer relationships management, customer retention rate and new product development. Thus
there are some techniques that is useful in order to enhance customer satisfaction with the help of
conducting the following activities as are-
Increment in the brand loyalty.
Enhance customer retention
Improvement in revenue and sales of the enterprise.
To ensure brand promotion in better manner
To improvise reputation of brand.
In this term, it can be said that the great customer supports will always leads to enhance its
sales and the firm can able to get competitive advantage. There are number of reasons in this it is
essential to maintain customer retention with help of using of robust customer retention
strategies and this all provide hidden benefits that leads to cheaper customer acquisition cost and
to enhance their brand loyalty so that there can be leverage in the sales of business enterprise. In
order to maximise the business profit and growth the growth and spending is need to be
minimised. With help of delivering the good quality of products it can easy to attract the number
of buyers in market. It will not only work as to generate more amount of liability but also work
as to build existing relationships more economical. Thus, potential profitability plays very vital
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role and this play huge role in order to bring long term effectiveness in market. Thus, there are
number of way that helps to implement customer retention strategies and better reward system
helps to personalise business functions. In this, it can be said that loyal customer are the ones
who works as to framing companies policies and procedures better and this all lead to perform
business functions effectively. The one of the future ways of attracting the customers is to
analyse the needs and wants of customers so that there need can be satisfied. The existing
customers are one of the crucial part that helps to build strong brand image and can develop long
terms sustainability. In addition to this, quality and productivity at minimum cost plays greater
role in order to bring systematic working in the enterprise. In addition to this, it can be said that
retention strategies are useful in order to keep fixed cost under control. On the other hand, it can
be said that the main objective is to encourage loyalty and promote business activities with the
help of word of mouth marketing. There are the number of the tool that will be helpful in terms
to attract the customer in the huge context. Thus, social media tool works as to attract the large
number of the customer and it also provide long term retention to the customers.
In this, it can be said that the loyal customer in the firm can spend the less and can able to
perform their business activities in well and appropriate manner so it is crucial to do the things in
better way. In addition to this, it can be said that loyal customer are those who spend more and
they are not that much price sensitive and it can impact overall working of the enterprise. This
kind of the activities can leads to have greater advantages and can also performs the business
activities in crucial and effective manner. With the help of implementing the social exchange
theory there are more chances to maximise the reward in order to build effective relationships
and by minimising the cost of business. With help of bringing innovation in product lines and to
provide different qualities of products to customers it can be possible to build competitive
advantage in market. In this, it can be said that customer retention is also the untapped treasure
and with help of it there are more possibilities in order to build strategic intelligence that can
enhance the customer satisfaction and also will perform business functions in more organised
mode. By taking the feedback from customer it will be easy to build the customer retention
possible and it can also leads to have greater advantages and this kind of the activities can works
as stimulate business growth and operations. The effective customer engagement strategies are
useful in terms to lead business functions in more proficient and effective mode. The business
and markets both uses the strategy as cause related marketing this is one of strategy that works as
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to getting more face time and in this more and more number of customers can get under
integrating social responsibility. Thus, one of key to use this kind of strategy is to ensure that all
working are conducting in better manner and customer will be providing better quality of
products. In this, it can be said that the satisfactory prices rate and affordable quality leads to
build greater satisfaction among customers. This all kind of activities will be helpful in order to
bring competitive advantage and with help of it brand image can be enhanced. In this, there are
four kind of dimensions that is helpful in order to build effective customer retention that are
namely pride insensitivity, repeat purchase and non complaining behaviour this all leads to have
greater satisfaction among the customers. In addition to this, it can be said that retaining the
customer can leads to have ripple effect on the performance of enterprise. With the help of
building trust, it is possible to come up with the greater advantage so that it can be possible to
have long term and enhanced customer retention. There are also some negative consequences is
that the customer in the today market works as to write more bad about the company and this all
can affect the performance of the enterprise in negative aspect. Therefore, it can be said that
customer service works as to imply current customers and their all interaction must be based on
prospectus and lead to organise the each function in great and effective manner. Thus, the good
CRM can be assistive in order to respond in quickly, keeping the track of each business activities
and to serve the each function in better manner. This kind of working can lead to perform
business function in more accurate manner. Thus, stated that with help of understanding the
industry and having depth knowledge about the product and service leads to enhance trust of
customer upon business functions. In addition to this, it can be said that the customer retention
strategy will be helpful in terms to organise the each activities in the better manner.
Recommendation and action plan
On the basis of above, there are some recommendation that has been discussed in below
presented manner as are-
1. The Tesco should provide quality products to the customers so that there can be
maximisation in profitability and it also helps to enhance brand image of the enterprise.
2. Tesco should work upon the set expectation of customer and this will help to enhance
brand image of the enterprise.
3. In this, successful relation can be build upon trust, with help of it the they can attract the
customer and long term retention can be possible.
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4. Marketing automation will be helpful in terms to re-engage the customer and the Tesco
should have adopt it so that there can be possibilities to attract them and earn more
amount of profitability.
5. The existing customer are must be retained as they have already good experience with the
firm, the it does not require existing number of the customers in order to have valuable
feedback and this will help to improve the product and service.
6. The Tesco should listen the complaints of the customers so that they can provide
effective customer service so that things can be done effectively in market.
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REFERENCES
Book & Journal
Kumar, V. and Reinartz, W., 2018. Customer relationship management: Concept, strategy, and
tools. Springer.
Lin, M.J. and Wang, W.T., 2018. Explaining Online Customer Repurchase Intentions from a
Relationship-Marketing Perspective: An Integration of the 4Rs Marketing Strategy and
Customer Trust. In Mobile Commerce: Concepts, Methodologies, Tools, and Applications.
IGI Global.
Shah, M.F.M., Hussin, N. and Wahab, S., 2018. The contributing factors of business process
strategy on customer relationship management performance: A pilot study among SME’s
logistic operators. Journal of Fundamental and Applied Sciences. 10(5S).
Sharma, A. and Syam, N., 2018. Sales and customer development: An agenda for
inquiry. Industrial Marketing Management. 69. pp.133-134.
Litosseliti, L. ed., 2018. Research methods in linguistics. Bloomsbury Publishing.
Ascarza, E and et.al., 2018. In Pursuit of Enhanced Customer Retention Management: Review,
Key Issues, and Future Directions. Customer Needs and Solutions. 5(1-2). pp.65-81.
Kumar, V. and Reinartz, W., 2018. Customer relationship management: Concept, strategy, and
tools. Springer.
Das, S., Mishra, M. and Mohanty, P.K., 2018. The Impact of Customer Relationship
Management (CRM) Practices on Customer Retention and the Mediating Effect of
Customer Satisfaction. International Journal of Management Studies.
Chahal, H. and Bala, R., 2017. Role of customer retention equity in creating and developing
brand value. Journal of Relationship Marketing. 16(2). pp.119-142.
Quirke, B., 2017. Making the connections: using internal communication to turn strategy into
action. Routledge.
Hasan, A.A.T., 2018. Customer Relationship Management (CRM) Practices of City Bank in
Customer Retention Perspective in Bangladesh. Global Journal of Management And
Business Research.
Krautz, C. and Hoffmann, S., 2017. The Tenure-Based Customer Retention Model: A Cross
Cultural Validation. Journal of International Marketing. 25(3). pp.83-106.
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Kumar, R., 2017. Performance analysis of a markovian queuing system with reneging and
retention of reneged customers. In Advertising and Branding: Concepts, Methodologies,
Tools, and Applications. IGI Global.
Stokinger, E. and Ozuem, W., 2018. Social media and customer retention: implications for the
luxury beauty industry. In Social Media Marketing: Breakthroughs in Research and
Practice. IGI Global.
Loyyl, B.W. and Kumar, M., 2018. A Critical Analysis on Service Quality and Customer
Retention.
Gordini, N. and Veglio, V., 2017. Customers churn prediction and marketing retention strategies.
An application of support vector machines based on the AUC parameter-selection
technique in B2B e-commerce industry. Industrial Marketing Management. 62. pp.100-
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Online
5 Unique Ways to Increase Customer Retention (and Increase Profits!). 2018. [online] Available
through:<https://www.superoffice.com/blog/customer-retention-tips-with-crm-software/>.
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