Management Extra: Managing Markets and Customers

Keeping the customer satisfied means understanding whether their expectations are being met and where possible striving to meet those expectations. Communication is at the heart of this process. Communication can of course take various forms and could be defined as the process of exchanging information or ideas, through the use of language, symbols, signs, behaviour, or through any technological means that result in an exchange process.
The Communications Channel is the specific route we use to convey a message to the target audience. The route or channel may be traditional, such as via a face-to face conversation, or it may involve the use of new technology, such as email.
Communication channels include:
Advertising
Brochures
DVD
Face to face contact
Internet
Instant messaging
Letters
Messaging forums
Newsletters
Telephone
Text messaging
The medium used needs to match and access target customers precisely to be effective. More and more data is stored by organisations about customers, which supports very tightly focused communication techniques.
Customer satisfaction can be improved in a number of ways. The following are some of the key ways to communicate the value proposition of your organisation.
Customer Relationship Management is based on principles of effective data exchange, the purpose of which is to manage the total customer. By analysing trends and buying patterns, it should be possible to predict changes in behaviour more rapidly and to respond with new or adapted offers. It should also be...