RESOURCE EXCHANGE IN CUSTOMER RELATIONSHIP

We would like to go elaborate the customer value, and for that it is necessary to now concentrate on the exchange. Resource exchange is important in order to increase the value of customer relationship. That will be important since we are thinking of exchange in wider terms than it is traditionally addressed in theories of business. We are actually thinking of exchange of resources on three different levels.

STRUCTURE OF CUSTOMER RELATIONSHIP

What we are interested in is how to increase the value of customer relationship and what are the angles, how to do it.  We aim at increasing the customer relationship value and we can talk about what are:

  1. phases and duration of the relationship, what is it?
  2. structure of the relationship and the
  3. exchange of resources.

And let us analyse this problem by taking a look at the structure of the customer relationship.

What are Switching Costs?

Switching costs are the costs that a consumer incurs as a result of changing brands, suppliers or products. Although most prevalent switching costs are monetary in nature, there are also psychological, effort- and time-based switching costs. A switching cost can manifest itself in the form of significant time and effort necessary to change suppliers, the risk of disrupting normal operations of a business during a transition period, high cancellation fees, and a failure to obtain similar replacement of products or services.

Customer care programme

Let’s consider how we set up a customer care programme. There are a number of stages including:

1. Identify customer needs and perceptions
2. Establish a mission statement
3. Set service level standards
4. Establish a management process and communicate it to staff
5. Establish a complaints system
6. Develop control system

Website traffic: What you must understand...

Website traffic is the amount of visitors and visits (sessions) a website receives or in simple words, website traffic is the number of people visiting your website. Here, traffic refers to the users who visits a website. For example, when you visit a website, the communication which happens between your desktop/laptop/mobile and the website server constitute the Website traffic.

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