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Essay Available:
Pages:
2 pages/β‰ˆ550 words
Sources:
3 Sources
Style:
APA
Subject:
Business & Marketing
Type:
Coursework
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 10.37
Topic:

Customer-Focused Initaitives to Increase Value to Customers

Coursework Instructions:

Overview
An important part of any organization’s priorities, as well as an important category of B Corp Certification, is the consideration of added value for customers. In this assignment, you will apply what you have learned about customer expectations and consider how it can be applied to your course project, which is due in Module Seven.
Prompt
You work in the operations department at NationaliTeas, a large international corporation that manufactures and sells tea worldwide. Based on customer feedback and a push to work toward B Corp Certification, the board of directors is looking for new initiative ideas that would increase value to customers. Examples include offering product guarantees, seeking product quality certifications, monitoring customer satisfaction, and so on. You have been asked to outline two customer-focused initiatives that can be evaluated by impacted teams for feasibility.
Specifically, you must address the following:
Added Customer Value: Briefly describe the added value your initiative idea brings to customers. Use supporting evidence from course materials in your response.
Added Business Value: Briefly describe the added value your initiative idea brings to the organization. Make sure to note the impact of the added customer value on the business, and use evidence from the course materials to support your response.
Potential Resources: Identify resources that would likely be needed to complete the initiative. In this case, resources might refer to the amount of funding, the materials available, the allocation of employees and their time, and so on.
Monitoring and Evaluation: Briefly describe how the success of the initiative would be monitored over time and how you’d evaluate the criteria for success.
Guidelines for Submission
Submit this assignment as a 500- to 750-word Word document. Sources should be cited according to APA style.

Coursework Sample Content Preview:

Customer Value Addition Paper
Student Name
Department, University
Course Code: Course Name
Professor
Due Date
Customer Value Addition Paper
B Corp certification is a prestigious award to high-performing organizations. Various factors determine a company's certification, including performance, transparency on matters of employee terms and benefits, and ethical contributions to supply chain operations. Research indicates that value addition in different sectors impacts the performance and rating of multinational firms (Cadestin & Backer, 2018), including NationaliTeas. Customer satisfaction is a significant factor in gauging consumer satisfaction. Consumer feedback informs the executive management of a product’s market value. According to Kumar (2018), consumer feedback defines the nature of firm-consumer relations; a major factor evaluated for B Corp certification. That said, this paper seeks to evaluate the effect of customer satisfaction on value addition, resources required, evaluation, and monitoring criteria.
Added Customer Value
Assessing customer satisfaction is significant in customer value addition. Efficient firms develop to have a reliable feedback mechanism, collecting important data on the nature of customer satisfaction. The nature of the data guides firms in making the necessary interventions to improve customer satisfaction. For instance, measuring customer satisfaction helps NationaliTeas determine if their products have the desired taste or aroma. Negative feedback indicates the need for prompt interventions aimed at improving quality. On the other hand, positive feedback is an indicator of much-needed improvement. Improved quality enhances customers’ satisfaction, adding customer value. Customer satisfaction is a strategic variable in customer value addition (Keshavarz & Jamshidi, 2018).
Added Business Value
Customer satisfaction influences business value significantly. For instance, NationaliTeas will post increased profit margins following quality improvement based on customer feedback. Higher differences between production costs and retail prices improve the firm's value. Sánchez-Gutiérrez et al. (2018) indicate a significant relationship between business value and customer value: an increase in business value increases customer value. The relationship between the two aspects is best illustrated by evaluating how technology companies such as Apple maintain high business value due to product quality and customer satisfaction (Mishra & Satheesh, 2020). Therefore, NationaliTeas needs to adopt an efficient customer feedback infrastructure to improve business and customer value.
Potential Resources
Specific resources are required in implementing the customer feedback mechanism. ...
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