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What can a company do to acquire and retain new customers?
A company can offer appealing marketing and branding to acquire customers.
Customers have to be aware of a company to purchase products and or use their services.
Marketing and branding of a company is how most customers are made aware of the company initially. This could range from billboards to television commercials. If not marketed or branded properly acquiring a significant customer base can become a challenge. This is where knowing who the customers are becomes critical. The company has to send the appropriate message that informs the customer of that they have what they need or desire.
A company may retain its customer base by offering consistency of services and internal marketing. Also its imperative for the company to have a solid mission, goals, and healthy culture. “To give organizations direction and focus, they continually assess their business, mission, culture, and goals” (Kerin, Hartley, Berkowitz, & Rudelius, 2006, p. 51). This requires a strong leadership group to help employees understand and monitor these qualities of the company. It would not be enough to have this in writing only and would put the company in a position of being vulnerable to losing customers due to employee inconsistency, loss of direction, and a lost connection with the customers. Internal marketing is used to assist the company in understanding their customer. “This concept suggests that services need to ensure that employees have attitude, skill, and commitment needed to meet customer expectations and sustain customer loyalty” (Kerin et al, 2006, p. 46). &nb ...