Customer Relationships Coursework Example

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Category:
Business
Level:
PhD
Type:
MBA
Pages:
1
Words:
275
Customer Relationships and How it Affects Product Development and Supply Chain Name Institution Customer Relationships and how it Affects Product Development and Supply Chain Good customer relationship is vital to the success of any company. Customer relationships are not built overnight thus take a lot of time to cultivate. Majority of successful companies understand the significance of customer relationships, therefore, are dedicated to employing the right customer relations experts. Building a good customer relationship is important in that it ensures customer loyalty and repurchasing power. It also provides positive publicity through word of mouth. Thus the business should strive to provide that the customer is satisfied at all times.Powerful customer relationships increase sales by ensuring that there is good communication for product deals and offers. Customer relationships affect product development in that through such relationships the company can identify and understand the customer needs and preference. This puts the company in an excellent position to be able to deliver products that meet such needs.Strong customer relationships also influence the marketplace thus good customer relations will ensure the company is well perceived in the market.This provides that the products produced by the company are well received thus offering positive impacts on product development (Fuchs & Shreier,2011). Customer relationships affect supply chain in that; good relationships ensure a trusting partnership with suppliers. An excellent trusting partnership ensures that goods are delivered in good time and of the right quality. A robust customer relationship also provides the organization with the correct information on the customer behavior and their preferences. Such information enables the business to categorize the customers based on their needs and thus be in a better position to supply the customer with the variety of products that they genuinely need (C...
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