CUSTOMER VALUE MANAGEMENT


CUSTOMER VALUE MANAGEMENT
Name:
Grade Course:
Tutor’s Name:
(24, October, 2010)
Introduction
There are various ways in which individuals and companies in the world use to obtain new customers and at the same time maintain the customers that they have acquired in the process of the trading process. Many companies in the world uses different types of management and customer relations that are aimed at ensuring the companies maintain there customers and at the same time maintain there customers in the companies. This is by ensuring that customers are well taken care of and at the same time their varied needs are fulfilled, thus making the customers feel as parts of the company (Pease, 2002).
There are several methods that are used by companies in attempts aimed at retaining and recruiting more customers into there companies amongst these methods; some common methods of customer retaining includes Customer Value Management (CVM) and the Customer Relationship Management (CRM). These are some methods used by various company’s marketing departments in there efforts of retaining and relations with there customers (Yunak, 2009).
After being hired by Hewlett-Packard as a consultant in the customer relations area in my capacity as the customer relations consultant, I will introduce different aspect of customer relations that will bring the company and customers close to each other. At the same time bridging up the gap that was initially there between customers and the company and in the end this will result to a good relations between the customers and the company (Shulman, 2008).
The company has always been practicing Customer Relationship Management (CRM) in the ways that it interacted with its customers. In this type of customer relations the company used the strategy of in managing the way the customers of the company interacts with its clients, customers and sales prospects (Prater, 2010). This is when the company used technology in ways aimed at organizing, computerize and coordinate its business activities. This was mostly in the sales, marketing, customer service and technical sectors. While in the long run the company attracted new customers natured and maintained the once it had. This method also resulted to the company cutting down its costs in marketing and customer relations. This strategy was large as it catered for a large section of the customer relation department and the other departments (Shulman, 2008).
As a new consultant I am aiming at increasing the company’s sales and customer interaction with the company even further it I will introduce the use of Customer Value Management (CVM). These will improve the relationship between the company and its customers (Chang & Cheng, 2007). Hence, use of CVM will address the issues affecting the business, by combining customer values and economic values in order to improve customer services being offered to the customers and at the same time benefiting ...