It can be stated that a particular emphasis should be made on employees if retailers strive for ensuring good service and provision of value to customers. That is to say, clients will evaluate their experience positively if the quality of the product or service is average but customer service is great. This rule is applicable to both in store and online retailing. An example that encompasses both positive and negative experience is linked to my latest purchase at Starbucks. I visited a store to buy a fruit drink and asked the cashier to make sure that one ingredient was eliminated from my drink. When I came to school and noticed that they had included this ingredient, I decided to contact online customer service. This interaction was quite positive, and the service provided me with a coupon for a free beverage. Therefore, despite the first negative experience, customer service provided great client care to retain their loyal customers.
I have visited Wal-Mart to analyze consumer sales promotions. According to my observation and evaluation, the enterprise conducts rollback pricing. By employing this strategy, the company intends to have the lowest price among all competitors (Bearden et al. 267). The structure of this promotion is rather simple since the company offers its app to customers to compare prices among different stores so that clients can observe that Wal-Mart has the lowest prices. Moreover, if it turns out that the shop charges more than any other store, Wal-Mart will return money to the customer. This approach is effective since the company can persuade customers that when purchasing from Wal-Mart, they receive goods of sufficient quality for the smallest price.
To build customer value, the proposed marketing plan will place a particular emphasis on corporate responsibility. It will help the company to operate with integrity and build customer loyalty. In terms of legal and ethical considerations, the organization will have to consider various social and environmental effects of its actions (Bearden et al. 269). In addition, it can be assumed that the examples provided by my classmates are adequate, and I agree with their justifications. According to their projects, they will work on building corporate and brand images, which are sufficient ways of building customer value. Apart from these approaches, they can also stress the importance of corporate values that will ensure a responsible workforce that will contribute to customer loyalty and satisfaction.
Work Cited
Bearden, William, et al. Marketing Principles and Perspectives. 5th ed, McGraw-Hill, 2007.