Marketing & Customer Service
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1. Why is "Employee Loyalty" so important to an organization today? List five ways in which employee loyalty can be encouraged and list them in order of importance.
2. Choose a product or service you recently purchased. Tell how at least three marketing influences convinced you to purchase it or at lease helped you choose the brand or company. What is "buyer's remorse" and how can marketers overcome this behavior?
3. Give examples of how marketers can convince consumers "satisfy" each of Maslow's Needs (5) by purchasing their products or services. (We're dealing with Perceptions)
4. What one important factor makes business to business marketing different than consumer marketing? Give an example of a B-B product and tell how you would differentiate your offering (versus your competition) in order to sustain and enhance your competitive advantage.
5. You are a business to business marketing manager. Tell how you would penetrate a potential customer by influencing or complying with the following: user, buyer, purchasing manager, influencer (specifier), gatekeeper, level of authorization, approved supplier
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Solution Summary
This solution discusses the importance of employee loyalty and five ways in which employee loyalty can be encouraged and list them in order of importance, as well as other general marketing concepts like buyer's remorse and the use of Maslow's Needs.
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Global Marketing Management
Week 2 Questions
1. Why is "Employee Loyalty" so important to an organization today? List five ways in which employee loyalty can be encouraged and list them in order of importance.
Employee loyalty is important because it is reflected in employee productivity and customer service. Employees who are treated fairly and satisfied are more likely to be more productive. A common thought is that customer satisfaction is in direct correlation with employee satisfaction. If employees feel well taken care of, this will be reflected in how the perform their jobs and treat others. Additionally, when employees feel loyal turnover is lower, training expenses can be lower, and so profitability increases. Loyal employees positively impact the customer service experience as well. Loyal employees help create a history and a culture of stability.
Employee loyalty can be encouraged by:
Treating employees fairly and consistently.
Demonstrate Integrity in every action.
Developing a company culture of communication and listening to employee feedback.
Being loyal to employees, understanding the need to share good and bad news open.
Allowing workers to have flexibility in their work schedule.
Javitich, D.G. (7 Dec 2006). Creating Loyal Employees. Entrepreneur. Retrieved from http://www.entrepreneur.com/article/171568.
Loyalty Research Center. (n/d). Part 1: What is Employee Loyalty? (And Why Should We Care?). Retrieved from http://www.loyaltyresearch.com/media/thought-perspectives/4.3.3%20Employee%20Loyalty%20Part1.pdf
Wilson, S. (14 Oct 2011). The Importance of Employee Loyalty. Mindshare Technologies. Retrieved from http://www.mshare.net/blog/the-importance-of-employee-loyalty/
2. Choose a product or service you recently purchased. Tell how at least three marketing influences convinced you to purchase it or at lease helped you choose the brand or company. What is "buyer's remorse" and how can marketers overcome this behavior?
I recently purchased a bicycle helmet. I was influenced by advertisements in Triathlon magazines, vendors at expos, and the salesperson at the bike store. In addition, I was swayed by the company name, which the company has developed to stand for quality products.
Buyer's remorse is when you buy something and later decide it wasn't worth the money or wasn't as good as advertised. It is a feeling of regret, often associated with purchases of higher dollar value.
Marketer's can overcome ...
Education
- BA, University of Southern California
- MSS, United States Sports Academy
- Ed.D, Boise State University
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