Marketing Discussion Essay
From the scenario, propose two (2) methods that Golds Reling, Inc. could use in order to effectively measure customer satisfaction for the new product launch. Choose the most effective method, and suggest one (1) process that the organization could follow in order to implement your chosen method. Justify your response. Upload a short (one to two [1-2] minute) video using Kaltura to share your ideas. You may use an iPad, cellphone, laptop, desktop, or traditional video recorder to record your discussion response. You may embed your video or include the link in the discussion board. Note: Your video must be professional and of academic quality. Discounts and Loyalty Programs are perfect ways to keep customers satisfied and interested in new products. A discount depending on the size of the discount can grab the attention of new customers and continue to entice existing customers. Discounts are great because the customer and the business are getting attention.
The customer is getting a new product for a fraction of its original cost and the business is getting word-of-mouth advertising from consumers who feel the product is great. Not only is the product great but it looks a lot better with a discount. Since many senior citizens are becoming tech savvy and purchasing computers more a discount specifically designed for seniors will benefit the senior community. Another group will benefit from the discount and the group is called students. Students and student parents spend millions of dollars annually on laptop computers and the accessories. Loyalty Programs work wonders because it engages customers to shop on the company’s website more often. Loyalty Programs also offer customers incentives such as upgrading hotel rooms upgrading flights free flights and discount tickets for places like amusement parks for children.
Loyalty Programs work well for a business in the sense of forcing members to surf the company’s website more often. If you can get the customer on the website more often it is a great possibility consumers will spend more. Discounts are very easy to do and the discount can be offered in the form of a coupon with two versions clip (paper) and non clip (download the coupon to a smart phone). Customers will love the fact of scanning a phone or clipping a coupon from the weekly circular and receiving a great discount on a new computer. Imagine that you have been tasked with creating an app for Apple’s iTunes store. Determine two (2) research tools (surveys focus groups, concept testing, etc.) you will use to identify customers’ needs.