Improving Customer Value
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Lancome sunscreens has a negative perceived customer value compared with the other brands.
How can Lancome improve its customer value?
The company cannot reduce its price to equal other lower-end brands such as Neutrogena or Coppertone.
560 word essay
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Solution Summary
Regardless of the industry in which a company operates, the foundation of their strategic operations is to maintain their current customer base while looking for new customers. In the case of Lancome sunscreens where they have a negative perception by customers in regards to value with other brands focusing on customer value is essential. There a couple methods they can do this. We'll discuss those methods below.
560 word essay
Solution Preview
Regardless of the industry in which a company operates, the foundation of their strategic operations is to maintain their current customer base while looking for new customers. In the case of Lancome sunscreens where they have a negative perception by customers in regards to value with other brands focusing on customer value is essential. There a couple methods they can do this. We'll discuss those methods below.
1. The first method they can do is identify the customer base under a loyalty program. Many company's have done this over the years. For example, Krogers and Albertson's super markets is really unable to compete with bigger companies like Wal-Mart. What they've done is established a loyalty card in which the customer can use this card to recieve discounts. Lancome can do this through internet or in store registration to ensure those customers ...
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