MSc Management Customer Experience Strategy Assignment Sample
1. Introduction
Customer experience strategy is simply a feeling about a certain product for the consumers and it mainly focuses to make an efficient relationship between the customer and the company.
The main purpose of this kind of strategy is to develop a strong revenue and good brand image for the company. The study includes the basic importance of customer experiences of Samsung.
The study highlights a consumer persona and a mapping consumer journey for Samsung. The study also focuses on omnichannel marketing, CX metrics and some critical success factors for Samsung. Lastly, a conclusion is added to the matter.
2. The importance of customer experience
The customer experience is mainly related to the business effects of various customer perceptions and multiple feelings about the products of a specific company. In simpler words, the customer experience is all the interactions that a consumer has with the company and builds a certain relationship with that specific company or the brand.
A business company listens to its consumers across the business and uses the feedback of the consumers to develop or enhance a certain product. The main purpose or importance of a good customer experience is the company gets able to sell more products and generates more revenue and it helps the company to build good brand loyalty (Roozen and Katidis, 2019). http://MSc Management Customer Experience Strategy Assignment Sample
One of the main importance of a good consumer or customer experience is to reduce the complaints of their customers and it helps the company to detect some negative reviews and returns of specific products as well. A good customer experience puts a massive impact on the businesses and it helps the company to make a name for itself.
Samsung is a very popular brand and has millions of customers all around the globe, customer experience is one of the main aspects of the business of a company like Samsung. Samsung analyses some results related to customer surveys and by using this Samsung gets able to provide some details of their products and services to the customers.
Samsung regularly analyses its churned customers to determine whether it is decreasing or increasing and takes some measured actions to prevent the situation in the future (Trivedi, 2019). http://MSc Management Customer Experience Strategy Assignment Sample
Samsung creates a forum for its customers to deal with the problems related to products. These surveys are implemented on multiple social media platforms or some pages in the community and the company invests lots of time into it to make the customer service better.
3. Creation of consumer persona
A consumer persona is the main archetype that represents some main characteristics of a large segment of the consumers or audiences. It is mainly determined based on the data theta the company collects from the multiple pieces of research about the users (Nur, 2021).http://MSc Management Customer Experience Strategy Assignment Sample
A persona provides some contexts and multiple directions that help a company to determine the main customers and it also helps the company to interact with the brand. Therefore, by having a customer persona, the company gets help in its CX. Samsung has multiple consumer personas and one of the main consumer personas for Samsung is its target audience.
| Demographics and story | More than 20% of people aged from 30 to 50 use Samsung mobiles and close to 15% aged more than 50 use this company. |
| Profile | It is a South Korean company that is one of the largest electronic devices in the world (Sevanandee and Damar-Ladkoo, 2018).http://MSc Management Customer Experience Strategy Assignment Sample |
| Motivations | Samsung mobiles have some Stable software, long-lasting battery and durability which motivates people to buy. |
| Goals | The main goal is to use Samsung mobiles as it provides multitasking options and has advanced biometric protection which helps the customers to maintain security |
| Pain points the company solves | The main pain point the Samsung mobile solves are Crashing and slow responsiveness. |
Table 1: The main consumer persona elements for Samsung
(Source: Researcher)
4. Mapping customer journey
The custom journey is mainly a total of multiple experienced that a customer can go through knowing the company or the brand and its products. The custom journey highlights the experiences of being a customer of a company (Grewal and Roggeveen, 2020). http://MSc Management Customer Experience Strategy Assignment Sample
Therefore, mapping a customer journey helps the CX professionals to visualise and imagine the main ways customers interact with the brands and it focuses on the journey of the consumers across the brand. It also helps the company to point out the positive impacts of each interaction.
| Stages of journey | First, the company started an awareness programme about the products. Then the company implemented engagement for its consumers (Roggeveen and Sethuraman, 2020). http://MSc Management Customer Experience Strategy Assignment SampleFinally, by providing the best quality products the company is successfully able to retain its customers. |
| Activities | Samsung provided some thoughtful experiences to its customers to guide them on which fits best for them. |
| Feelings and needs | Samsung provides smart service centres with skilled workers to make sure the consumers get speedy and effective solutions to their problems. |
| Potential opportunities for improvement | ● Creating a clear vision for customers
● Creating emotional connections with the customers. ● Acting upon feedback quickly and regularly ● Measuring the ROI to deliver a great customer experience. |
Table2: The customer mapping for Samsung
(Source: Researcher)
5. Omnichannel marketing
Omnichannel marketing is simply an integration and cooperation of specific channels that a company uses to interact with its consumers by having the goal of building good and stable brand experiences.
There are four pillars in omnichannel marketing such as; visibility, and the main view of consumers (Berman and Thelen, 2018). http://MSc Management Customer Experience Strategy Assignment SampleMeasurement is used to understand the touchpoints of marketing. Personalisation is one on one consumer experiences and lastly, optimisation is the adjustment o strategies and multiple budgets based on the performance.
The omnichannel approach provides some flexibility in financial departments that help the company to capture the intents of the consumers and determines the main patterns of the consumers by leveraging all the needed platforms for the interactions of customers.
Omnichannel customisation is a method of customised experiences for the users based on data gathered from multiple digital channels. Therefore, to get a customised omnichannel platform, the companies need to make sure that all the systems can work together for the company and the companies need to be able to see some important details like customer’s behaviour or intent of buying or many more.
Samsung uses various marketing channels to effectively integrate the different marketing communications for its consumers. The marketing channels or mix is one of the main factors of the success of Samsung. The main marketing channels for the company are such as;
Product
Samsung and its products are designed in global centres and manufactured all over the world (Jamali and Khan, 2018).http://MSc Management Customer Experience Strategy Assignment Sample Whenever the company launches a new product, it allows the customers to test the product and gathers some feedback and helps the company to generate sales by knowing the product and the consumers can recommend the product to others.
Pricing
Samsung implements an innovative price skimming strategy and it helps the company to gain better profits. This strategy helps the company to lower the price of the product when a similar product is launched by another rival company, and by doing this the company increases revenues by having more shares in the market.
Distribution
Samsung distributes its products through multiple channels in the market places and the company has several dealers who handle the key accounts for the company.
The company sells a large amount of the products by retailing and the consumers buy the products from various outlets (Tien, 2019).http://MSc Management Customer Experience Strategy Assignment Sample Samsung also has its website where the consumer can place their order and buy items of their choice and it provides Samsung with an extra edge.
Promotion
Samsung promotes its products through various social media platforms or newspapers and television and it helps the company to attract more consumers in the competitive market.
Samsung spends close to 2 billion on its advertisement and it is one of the main marketing channels the company uses for having a good revenue.
Samsung is very effective in achieving a seamless consumer journey by following some important measures. Samsung puts the relationships with the consumers as a priority as the company knows it is very important to create a strong bond to encourage people to come back to the company.
Samsung also offers better personalisation and helps the business keep up with its rivals (Kronenthal, 2020).http://MSc Management Customer Experience Strategy Assignment Sample Samsung has identified its true target audience goals by developing a good consumer persona and all of this helps the company to provide a seamless consumer experience.
6. CX performance metrics
Mainly, these metrics help the company to measure the key touchpoints of the consumers.
Net promoter score (NPS)
NPS is the main performance metric in global companies. Most companies in the world are using this metric to define the terms of various consumer experiences of a specific company.
NPS is short and simple for the consumers which helps the company to answer and it is very easy for the companies to track (Saura, 2021). http://MSc Management Customer Experience Strategy Assignment SampleNormally NPS is calculated in a specific way, the companies need to calculate the promoter’s percentages amongst the surveyed customers.
Then the companies need to calculate the detractor’s percentage. After that, the companies subtract the percentage of the detractors from the percentage of promoters. It is simple and fast and easily applicable for both the consumers and companies.
Customer satisfaction
Customer satisfaction commonly known as CSAT is one of the used metrics by most companies in the world. CSAT is an effective tool that measures customer satisfaction with a single interaction (Erickson and Kitamura, 2021). http://MSc Management Customer Experience Strategy Assignment Sample
It is widely used in customer service or customer support and it easily adapts to the basic requirements of the specific organisation. It is very simple to implement and very easy and fast for the interaction of consumers. It is one of the best methods to determine the consumer’s perspectives about the company or brand currently.
Retention rate
Customer retention rate is the main determinant of a specific business that helps the company retain consumers over a certain period (Lange, 2021).http://MSc Management Customer Experience Strategy Assignment Sample
The higher the retention rate is, the churn rate gets lower. For example, if the churn rate of a company is 20% therefore, the retention rate is 80% for the company. Big companies use this performance metric to determine the loyal consumers for the company.
Churn rate
The churn rate determines the consumer percentages who have stopped using the products of a specific brand. It is several lost consumers or a percentage of the lost consumers within a certain period.
It highlights the total loss of business value of a specific company. For example; if a company generates 100 new consumers at the start of the year and the end of the year the number of the consumers gets to 50 then the churn rate of the company becomes 50%.
Several ways can improve the CX performance metrics for Samsung such as;
| Performance metrics | Recommendation |
| Retention rate | Samsung can acquire the right customers for its products (Baganz et al., 2019).http://MSc Management Customer Experience Strategy Assignment Sample Samsung can optimise its sales to make the consumers retained and can make sure the sales team is aligned with the consumer and all of these can help the company to focus on consumers. |
| Churn rate | Samsung can define a specific roadmap for the new consumers. Samsung can set a new customer onboarding method to guide the new consumers through the functionality and process (Liu et al., 2018). http://MSc Management Customer Experience Strategy Assignment SampleThe empowered customers help the companies to achieve their goals as the consumers are not likely to leave. Therefore, a company like Samsung needs to monitor the process. |
Table 3: Recommendation for Samsung’s metrics
(Source: Researcher)
7. CX processes in different industries
Critical success factors are an area in which a company and its business team successfully implement and highlight the main targets or goals of the company.
Pricing
It mainly defines the value of the products by which the consumers can derive the products from the specific company.
Mainly pricing depends on costs or expenses, supply and demands and consumer views and rival companies (Alqahtani and Rajkhan, 2020).http://MSc Management Customer Experience Strategy Assignment Sample All these factors affect the company’s pricing and the company fixes the prices of its products by evaluating all the aspects of the specific industry.
For example; Samsung fixes its products’ costs by thinking of all the aspects. Samsung and its suppliers’ demand and rival companies for Samsung affect the pricing of Samsung.
Rolls Royce another global company like Samsung provides the right kind of prices and shopping experiences for its consumers. Rolls Royce and Samsung both the companies provide a unique experience for high-end products for their consumers and this factor is dependent on the customer aspects of a company or a brand.
Product and service quality
Product and service quality is simply a customer expectation that results in customer satisfaction and quality is the main expected product or service.
It helps to maintain the satisfaction of the consumers and reduces the chance of replacing any items (Hastig and Sodhi, 2020).http://MSc Management Customer Experience Strategy Assignment Sample Normally, companies use ISO 9001 for their product quality and this guideline helps the companies to enhance and standardise their products.
For example; the products of Samsung are top-notch as the product reviews are very good for Samsung and Samsung gets able to retain most of its customers by delivering a qualities service to its consumers.
Samsung also provides some warranty period for its products that assures good quality service for its consumers. Rolls Royce is offering a five-year maintenance programme for its cars and it has provided an extra dimension to Rolls Royce. It has also helped companies like these to decrease the chance of quality concerns of the products.
Service
Providing support to any company is one of the important parts of a company’s success. It occurs mainly after the sales and most the companies use various approaches in the customer service area as it plays a major role in a business segment.
For example; a consumer has purchased a Samsung phone and after buying it stopped working. Samsung assures a great service experience for its consumers if anything happens like that.
Another global company like Rolls Royce provides great customer service to its consumers as the company sets up a customer care team for its consumers so that the service does not get hampered.
Accessibility
The customer needs the products of a specific company and it mainly depends on the basic availability of the product or service of the company (Kim, Arcodia and Kim, 2019). http://MSc Management Customer Experience Strategy Assignment SampleNot being available affects the consumer experiences of the company.
For example; Samsung has created supply outlets everywhere in the world and the consumers can buy Samsung products everywhere and do not feel uneasy about the accessibility of the products of Samsung (Samsung, 2022). http://MSc Management Customer Experience Strategy Assignment SampleRolls Royce also has some outlets all around the globe to reach its consumers and it helps the companies to get access to the consumers.
Fashion
It is a method to attract more consumers in a way to amaze the customers.
For example; Samsung has started to implement some multi-tasking and some hand-swipe features in its products and it has amazed its consumers.
The cameras are another one that is so attractive for the Samsung products. Rolls Royce has some TVs or Music systems inbuilt into it and the cars of the company have some bulletproof layers for its cars and thus it makes it more fashionable for its products.
8. Conclusion
The idea of Samsung is to interact with more consumers with the products and by doing this it can build a connection with the company. An effective CX strategy of Samsung has built a loyal consumer base for the company and the main aim of S
amsung is to provide quality consumer service through various channels. Samsung has offered multiple products in different price ranges and it has helped the company to be a giant in the current industry.
From the above study, it can be concluded that the study highlighted the importance of consumer experiences for Samsung and some consumer persona for the company.
The study also highlighted some customer journey mapping and omnichannel marketing for Samsung. The study also determined some CX performance metrics and CX critical success factors for Samsung. This study helped to demonstrate the full marketing strategy of Samsung and why the company has been able to provide a seamless consumer experience through its products.
9. References
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Baganz, L., Strangfeld, A., Herzer, P., Krause, A., Tony, H.P. and Zink, A., 2019. SAT0134 Comparing real-world retention rates in a matched cohort of rheumatoid arthritis patients who either remained on the etanercept originator or switched to a biosimilar.
Berman, B. and Thelen, S., 2018. Planning and implementing an effective omnichannel marketing program. International Journal of Retail & Distribution Management.
Erickson, B.J. and Kitamura, F., 2021. Magician’s Corner: 9. Performance Metrics for Machine Learning Models. Radiology: Artificial Intelligence, 3(3), p.e200126.
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Hastig, G.M. and Sodhi, M.S., 2020. Blockchain for supply chain traceability: Business requirements and critical success factors. Production and Operations Management, 29(4), pp.935-954.
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Kronenthal, C., 2020. Consumer-centric commerce: Why banks and merchants need to step up their customer experience game. Journal of Digital Banking, 5(1), pp.13-26.
Lange, J.P., 2021. Performance metrics for sustainable catalysis in industry. Nature Catalysis, 4(3), pp.186-192.
Liu, X., Xie, M., Wen, X., Chen, R., Ge, Y., Duffield, N. and Wang, N., 2018, November. A semi-supervised and inductive embedding model for churn prediction of large-scale mobile games. In 2018 ieee international conference on data mining (icdm) (pp. 277-286). IEEE.
Nur, A.G., 2021. Marketing Strategy of an E-Commerce-A Customer Feedback Approach.
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Roozen, I. and Katidis, P.I., 2019. The importance of the service and shopping customer Experience in a Retail Environment. Journal of Relationship Marketing, 18(4), pp.247-279.
Samsung.com, 2022. Critical Success Factors to Build a Strong Open RAN Ecosystem | Samsung Business Global Networks. [online] Samsung global_nw. Available at: <https://www.samsung.com/global/business/networks/insights/blog/open-ran-blog-3-critical-success-factors-to-build-a-strong-open-ran-ecosystem/> [Accessed 16 April 2022].
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Sevanandee, B. and Damar-Ladkoo, A., 2018. COUNTRY-OF-ORIGIN EFFECTS ON CONSUMER BUYING BEHAVIOURS. A CASE OF MOBILE PHONES. Studies in Business & Economics, 13(2).
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