Week 3

Sorry for taking so long, Im new to this Blog thing, so bare with me.

Week 3

Ideally, all products should be excellent products. Consumers will have more faith in an organisation or retailer should their product both satisfy and compliment their needs. However, the idea of a perfect product is in the eye of the beholder.

Schwartz’s argument of choice and product variety does contain merit and logical validity. For instance, I work in a specialist audio and visual retail store and the majority of our customers are individuals whom have been customers for many years. Although we do not offer the mainstream store brand products, many customers whom have been happy with our products are more than happy to purchase or upgrade to a product from the same brand e.g. Individuals who have owned Loewe for 20 years will only purchase a Loewe, as they have been more than satisfied with the products quality and brand reputation. Through this perspective, choice is not required.

Choice is based on a number of factors, for example product satisfaction, personal experiences, warranty, expected product lifespan, growing technology, current broadcasting system, pricing etc. Consumers have a unique and individual perspective when identifying the ‘perfect’ product. CRM is crucial in this investigation. In order to create and advertise a ‘great’ product, we need to understand what constitutes as a ‘great’ product. Through excellent communication and feedback channels, organisations are able to gather more information on the different appeals and marketing aspects of any given product.

What good is CRM if the product is rubbish? Through managing excellent management of customer relationships an organisation can determine what is aspects of the product is rubbish and attempt to rectify these issues. Hence, CRM is the basis of creating or modifying a product to ensure that it will be acceptable and satisfactory to the consumer.