Details: Although market competition is important in today's markets, a company must also consider its customers. Building customer relationships to create a profitable relationship is necessary when designing its strategies. A company can become so competitor-centered that it loses focus on maintaining profitable customer relationships.
Pick a company you feel has lost focus on maintaining profitable customer relationships, and explain why you think this occurred.
What do you feel is the best way to maintain balance between competitor and customer orientations? Provide an example of a company and its strategy to use in your discussion.
Does this strategy change as the company changes? Provide an example of how and why a company's strategy might change.
Solution Preview
The company that I believe has lost focus on maintaining profitable customer relationship is Westgate Resorts. This resort was formed many years ago. Approximately 10 years ago, this company seemed to be so customer oriented, while maintaining a good balance with its competitors. In recent years, they have lost that customer satisfaction with most of its owners. Previously, they would focus on the owners' needs and wants. Further, they made many promises. Now 10 years later, they seemed more focused on obtaining new owners, not being able to maintain the level ...
Solution Summary
This solution provides an explanation of how a specific company can maintain the balance between competitor and customer orientations.
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... or oligopoly or pure competitive markets, they would ... have had more control over the market conditions and ... would have faced very little competition, thus, the ...
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... is characterized by an absence of competition, which often ... definition, a monopoly is a market containing a ... monopoly regulation protects free markets from being ...
