Effective Partnerships, Market Research, and Competitive Advantage
Not what you're looking for?
1. What strategies do most business organizations use to encourage effective partnerships or alliances with customers? How effectively do organizations build partnerships or alliances with its internal markets; for example, employees, vendors, suppliers, or contractors? What factors relate to its effectiveness?
2. What is the relationship between Market Research (MR) and competitive advantage? What are some specific examples of how MR has led to competitive advantage? Provide an example of an organization using prior or post hoc market research? Which is more desirable? Describe why this is? Use specific examples to illustrate points.
Purchase this Solution
Solution Summary
The expert examines the effective partnerships, market research and competitive advantages for business organizations.
Solution Preview
Answer 1
Following are strategies used by most of business organizations:
Customer Delight Strategy: Customer delight strategy is used by business organizations to form a partnership or alliance with customers. Under this, the firms adopt ways that result into exceeding perceptions of customers from their expectations. Hence, by managing either expectations or performance, customers are delighted by business organizations.
Customer relationship strategies: By using customer relationship management (CRM) strategies, business organizations form alliance or partnership with customers. Under CRM strategy, views and opinions of customers regarding product features or traits are invited through customer feedback mechanism (Buttle, 2012). These views or opinions are executed by the firms to develop customized product offerings for the customers to ensure strong harmony with them for long term.
Loyalty Rewards: Loyalty rewards are also used by business organizations to encourage effective partnership or alliance with customers. Under this strategy, long term customers are rewarded with some bonus points by the respective firms. For example, ...
Purchase this Solution
Free BrainMass Quizzes
Learning Lean
This quiz will help you understand the basic concepts of Lean.
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.
IPOs
This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking