The Сustomer Experience Management as a Strategy For Business Development

Against the background of rising consumer expectations and increased competition, competence in customer experience management becomes a factor in the survival of modern companies. To achieve sustainable customer commitment, companies have to master the skills of effective interaction with customers and learn how to manage customer experience. This makes a study, concerned with developing a strategy for managing customer experience, relevant. The purpose of the article is to study the strategic aspects of customer experience management, in particular in identifying the sequence of stages of strategy development, defining their essence, instrumentarium, and conditions for implementation in the company’s business processes. The development of a customer experience management strategy is aimed at improving the efficiency of the customer experience value chain, which begins with communications at contact points and results in additional income from the growth of the company’s brand capital. The analytical, organizational, managerial, and control-evaluation measures are distinguished in the structure of the client experience management process. The author suggests a general scheme of development of customer experience management strategy in the form of step-by-step cyclical process consisting of eight consecutive stages: formation of service vision; structuring contact points; defining the needs to improve customer experience; development of an action plan; defining budget and resources; distribution of roles and areas of responsibility of subdivisions; creation of a new brand experience of customers and evaluation of results of its implementation. The tools for collecting and analyzing customer experience and customer service are systematized, specific management measures for their improvement are proposed.

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e-Shopping Experience in e-Tail Market

International Journal of Information Systems and Social Change ◽

10.4018/ijissc.2014040102 ◽

2014 ◽

Vol 5 (2) ◽

pp. 13-24

Author(s):

Kamaladevi B. ◽

Vanitha Mani M.R.

Keyword(s):

Customer Service ◽

Information Quality ◽

Customer Experience ◽

Design Quality ◽

Customer Experience Management ◽

Factors Influencing ◽

Shopping Experience ◽

Store Design ◽

The Individual ◽

Internet Shop

Survival of fittest and fastest is the mantra of today's business game. In the modern e-Business era, the retailer must focus on the customer's e-Tailing experience to survive in the e-World. To focus an e-Customer's experience towards e-Tailing, the retailers should understand what “e-Tailing” actually means. e-Retailing is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser. e-Tailing can be referred as e-web store, e-Shop, e-Store, Internet shop, web-shop, web-store, online store, and virtual store. On the other hand, e-Customer Experience Management is a strategy that focuses the operations and processes of an e-Business around the needs of the individual e-Customer. It represents a strategy that results in a win–win value exchange between the e-Tailer and their e-Customers. The goal of e-Customer experience management is to move customers from satisfied to loyal and then from loyal to advocate. This paper focuses on the role of macro factors influencing e-Customers to make e-Shopping and how they can shape e-Customer experiences and behaviors. As a result, e-Store information quality, e-Shopping cost, e-Store design quality, e-Privacy/security, e-Customer service and e-Delivery service quality are found as the macro factors influencing e-Customers towards e-Tailing.

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Innovative Product Management Driving Enhanced Customer Experience Management (CEM)

Telecom Business Review ◽

10.21863/tbr/2015.8.1.008 ◽

2015 ◽

Vol 8 (1) ◽

Cited By ~ 1

Author(s):

Niladri Shekhar Dutta

Keyword(s):

Balanced Scorecard ◽

Value Chain ◽

Product Life Cycle ◽

Business Models ◽

Market Competition ◽

Value Added ◽

Customer Experience ◽

Product Management ◽

Innovative Product ◽

Customer Experience Management

Customer Experience Management (CEM) has been a buzzword in both demand and supply side dynamics of the Telecom value chain. However emphasis is being given around CEM, it never feels just enough! Telecom ISPs are looking to generate more awareness of revenue generation and realization, so that it not only is about the increase of top line but also about consolidation of various products and services, almost being an aggregator at one stage to deliver with the help of a single service delivery platform. In other words, what is commonly known as VAS-Value added services in the industry. The key to this is real innovation, of newer ideas and productizing these concepts to market. For innovative product management, Telcos are opting to look for value added services, value added delivery as well as enhanced business models and operational frameworks. This is primarily done to carve out an innovation which leads to a differentiator non-existent in the market. A very common, yet unique one such concept can be the Balanced Scorecard perspective and mapping these different perspectives into various domains of a Telecom business. These are obviously very common in present days and widely used by all Telcos to arrive at a definitive decision for any strategic cause. It can be mapped to perspectives ranging from financial, customer-centricity and orientation, internal process management, functionality & delivery, lastly internal learning & growth. We need to understand the context of innovation of products & services under all of these above perspectives. This will give us immense clarity in creating such a differentiated offering to render enhanced Customer experience for better sustainability and thus thriving on market competition. Each layer of a Telco enterprise set up follows specific blueprint, whether its the business or operations or technology. This will ensure that all company strategies which are focused towards creating and delivering differentiated offerings and delivery are being realized appropriately hence the delta of perception versus reality is minimized to a great extent. This would definitely increase customer experience in all possible forms. Product life cycle management which forms the heart of CEM, should be certainly driven by cost of sale as well as price of product. Both of these parameters should be populated through a Balanced scorecard from a financial perspective to decide on a go-no go decision for concepts to be marketed in a Telco. These need to be realized through specific derivatives of business processes following best practices to ensure enhanced customer experience and better delivery of services to the end customer. Perhaps, the most important

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Building customer loyalty through customer experience management

Journal of Management and Science ◽

10.26524/jms.2016.28 ◽

2016 ◽

Vol 6 (3) ◽

pp. 288-294

Author(s):

Kavitha S ◽

Haritha P

Keyword(s):

Competitive Advantage ◽

Customer Loyalty ◽

Management Strategy ◽

Customer Experience ◽

Customer Acquisition ◽

Customer Experience Management ◽

Practice Experience ◽

Product Features ◽

Customer Interaction

Customers are more demanding than ever. Creating superior customer experience is crucial in gaining competitive advantage in any business environment.Companies need to have a well-defined customer experience management strategy to determine a place in the competitive world. Customer Experience Management has gained importance in recent years. As companies are faced with the issues like decreasing customer loyalty, reduced scope of differentiation through product features, and with increasing costs of customer acquisition, it has become immensely important for companies to practice experience based differentiation in every stage of customer interaction. This paper focuses on the various aspects that impact customer experience and its impact on customer loyalty.

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Customer Service

Advances in Logistics, Operations, and Management Science - Handbook of Research on Strategic Supply Chain Management in the Retail Industry ◽

10.4018/978-1-4666-9894-9.ch005 ◽

2016 ◽

pp. 75-86 ◽

Cited By ~ 3

Author(s):

Amit Gupta

Keyword(s):

Customer Service ◽

Customer Experience ◽

Inventory Planning ◽

Customer Experience Management ◽

New Business ◽

Retailing Business ◽

Store Execution ◽

The U.S

Customer Experience Management is a strategy that focuses the operations and processes of a business around the needs of the customers. Retailing is a huge industry (45% of the U.S. economy and the largest employer) that has consistently been an incubator for new business concepts. The retailing business, in today's world is focussed on the customer's buying experience. Focus on customer experience and understanding their needs can solve many retailers' chronic problems such as stock outs and markdowns. This chapter focusses on following major themes: assortment and inventory planning, markdown and store execution of retailer and their strategies for next couple of years. In today's Omni-channel world it's important for retailer to enhance customer experience, be it in brick and motor store or online.

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GLOBAL, EUROPEAN AND NATIONAL DRIVERS OF LITHUANIAN BIOECONOMY STRATEGY

Proccedings of International Scientific Conference "RURAL DEVELOPMENT 2017" ◽

10.15544/rd.2017.162 ◽

2018 ◽

Author(s):

Vlada VITUNSKIENĖ ◽

Vilija ALEKNEVIČIENĖ ◽

Neringa RAMANAUSKĖ ◽

Astrida MICEIKIENE ◽

Jonas ČAPLIKAS ◽

...

Keyword(s):

Content Analysis ◽

Value Chain ◽

New Technologies ◽

Action Plan ◽

European Countries ◽

Strategy Development ◽

Industrial Biotechnology ◽

Environmental Pressures ◽

The Future ◽

The Eu

This paper contributes to the comprehensive approach for sustainable and balanced development of bioeconomy as a cross-cutting economic sector and focuses on the drivers of Lithuanian bioeconomy strategy. Lithuanian bioeconomy strategy development can be motivated by country’s specialization and, compared with other EU member states, strong performance in terms of recent growth in all biomass production and fully bio-based manufacturing sectors. However, Lithuanian bioeconomy strategy depends not only on the current state and trends of its subsectors, but also on the drivers that will be forcing and shaping them in the future. The authors decomposed these drivers into global, European and national. Using content analysis of the EU, OECD and European countries’ legal acts, global drivers such as depletion of natural resources, growing population, increasing environmental pressures and climate change were identified. Applying content analysis of the EU and European countries’ bioeconomy strategies and analysis of case studies of good practices in European countries and regions, the following drivers at European level were identified: common EU bioeconomy policy, strategy and action plan; assurance of biomass availability and sustainability, as well as efficient biomass value chain; the need to strengthen markets and competitiveness of the bioeconomy subsectors; the necessity of close cooperation among all stakeholders, namely politicians, business people, scientists and the public; the need of the development of new technologies and processes, especially industrial biotechnology. The research revealed that the bioeconomy development in Lithuania has been regulated and promoted through certain sectoral policies: agriculture, forestry, fisheries, energy, environment (including waste management), scientific research, innovation and biotechnology development. In the future, the cross-sectoral links and interactions in the Lithuanian bioeconomy will increase due to the scarce biomass, applying the cascading principle in the biomass refinement, transition towards circular economy, and the development and implementation of innovations.

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Selecting which touchpoints to manage for customer loyalty: an empirical analysis in retail banking

MERCATI & COMPETITIVITÀ ◽

10.3280/mc1-2019oa7625 ◽

2019 ◽

pp. 39-54

Author(s):

Marco Ieva ◽

Cristina Ziliani

Keyword(s):

Empirical Analysis ◽

Customer Loyalty ◽

Online Survey ◽

Customer Experience ◽

Retail Banking ◽

Customer Experience Management ◽

Moderating Role

Customer Experience develops through a journey of touchpoints. However, little is known on the role of touchpoints in contributing to customer loyalty, which is the final aim of Customer Experience Management. This study provides an examination of the relative and moderating role of frequency and positivity of exposure to more than twenty touchpoints and their interplay in contributing to customer loyalty. An online survey on more than three thousand consumers is run with reference to retail banking. Results show that only a small number of touchpoints is significantly related to customer loyalty. Findings point companies' attention to invest their efforts in managing both the frequency and positivity of specific touchpoints.

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