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Wayne Huizenga School of Business & Entrepreneurship

Assignment for Course: (MKT 5017 Delivering Superior Customer Value) Submitted to: Dr. William C. Johnson Diego A. Echeverri Submitted by: N00529639 729 S. Columbus Street, Alexandria, VA 22314 202-643-8885

Date of Submission: 10/27/13 Title of Assignment: Customer Value Action Items Set 2 Questions Ch 5

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Students Signature: Diego A. Echeverri Instructors Grade on Assignment: Instructors Comments:

Ch 5 Customer Value Action Items 1. Why has quality become such a priority today? What are some of the "common denominators" in the definition of quality? Service and quality are at the heart of the value proposition. The search for excellent quality is one of the most important business trends over the past three decades, as demanding buyers have come to expect great products accompanied with service that is fast, reliable, and customer friendly. Quality has become a priority over time, it hasn't been an over night development. Meeting customers expectations of quality is also paramount in a day when people yelp and post to social media whenever they are dissatisfied. According to our text 59% of people are very likely to speak negatively about a company after poor service. Nearly half of consumers often or always post experiences to the internet. Global competition has resulted in increased choice and has raised customer expectations of what constitutes acceptable quality. (Weinstein, ) Now competition is "just a click away" so companies need to be even more concerned with quality and competitors. Some common denominators are: exceeding expectations, quality has to be internal and external, it has to be qualitative and quantitative. 3. How does your company's current service mix create value for customers? What new service products should be introduced that your firm does not offer? Are there new types of value providers (adders) that your organization should employ to do a better job of serving customers? My company does not offer services we are in retail but to reposition or create greater value for our customers through our product mix we could add a greater variety of product and other verticals such as cufflinks or other mens accessories. There are a few new times of value adders that my organization should employ to do a better job for customers. First off we could offer a discount for bulk orders. We can also create a subscription service, which also brings down the per-unit cost. We could include free gift wrapping for the holiday season.

References: Art Weinstein. Superior Customer Value: Strategies for Winning and Retaining Customers, Third Edition (Kindle Locations 1214-1217). Kindle Edition.