MSc Management Customer Experience Strategy Assignment Sample
Introduction
Customer experience has become an important determinant for describing the scope of functionality of any product or service. Essential details about customer’s preferences are totalled in this report to interpret the opportunities for a business. These items could be effectively studied by the R&D wing of any company for suggesting suitable marketing strategies.
Enhancing their satisfaction determinants could help to improve sales and future existence of the products and services. This report includes the analysis of Sprite produced by Coca Cola and distributed in global markets. Effective knowledge about importance of customer experience, consumer persona, omni-channel marketing, and performance metrics has been discussed in this framework.
Importance of customer experience
Customer experience has been described as a schooling phenomenon for interpreting the perception gained by different consumers while intercepting with the company.
It is a holistic reference of what any customer has perceived while appropriating the service or products offered by a business (Godovykh and Tasci, 2020).http://MSc Management Customer Experience Strategy Assignment Sample This metric is often evaluated to interpret their satisfaction level regarding any product or service. Such experience usually revolves around interacting with a customer, using the discussed product or service, and discovering the item while being marketed.
Essential notes about customer’s likings and preferences help that organisation to market such products. Increasing proportions of competition in the global market certainly requires different companies to interpret their competitive strength against other substitutes in the market. As opined by Kurdi et al. (2020), every company targets to maximise customer satisfaction through broad interactions and individual attention to their needs.
Adequate knowledge about customer’s preferences aids a company to establish an effective brand image.
Beverage industry has been aided with a large number of substitutes which makes the competition level spike by abnormal margins. Coca Cola has been able to sustain their brand image with effective presence in the global market.
This brand has been distributing its products to more than 200 countries throughout this globe. Sprite is acknowledged as one of their main products which has gained substantial recognition in the world market. This product is routed to more than 190 countries (Forbes, 2022). http://MSc Management Customer Experience Strategy Assignment Sample
Customer experience for this product is an important determinant for continuing its sales in all those nations. This could be particularly based on what customers have perceived while tasting the product during various instances. Understanding the scope of liking this product could effectively help manufacturers to remodel its composition. As described by Ghobadian et al. (2020), acceptance of this product amongst large masses will reflect the opportunity for this product to prevail in the global markets. However, in UK this drink has performed exceedingly well than its competitor 7-UP.
Consumer persona creation
The customer persona helps to understand the different consumers by doing market research and analyzing the actual data. There are specifically 3 types of customer personas in marketing (Terho et al. 2022). http://MSc Management Customer Experience Strategy Assignment Sample
One of the important personas is the buyer Persona which includes the representation of the target customer who is involved in buying the service of the product. This is highly important as they navigate marketing strategies along with appropriate communication.
The buying persona can develop an effective CX strategy in which the customer journey and the ways to measure the experience in both offline and online mode are present. Further the customer person has provides with the appropriate perspective that is required by the business to make the objective decisions about how the messages of the brand can be crafted through the widely accepted formats like social media
| Demographics and story | The chosen organization of Coca-Cola targets the younger customers belonging from the age group of 10 to 25 within the secondary market that includes the people ageing from 25 to 40. |
| Profile | The organization of Coca-Cola is a company which manufactures and markets non-alcoholic beverages and syrups. |
| Motivations for using your chosen
company product/service |
The motivation for choosing Coca-Cola includes the branded drink in its unique names and taste. |
| Goals for using your chosen
company product/service |
As observed by Kalkanci et al. (2019),the goal of the company coca cola includes providing customer satisfaction and expansion of its services to the segments that are underserved inside the society. |
| Pain Points your chosen company
Product/service solves. |
One of the important challenges faced by the company of Coca-Cola is there is an increase in its competitors along with the waste generated from plastic bottles. |
Mapping the customer journey
The customer journey is a map or a diagram that includes the various stages of customers through which they go that includes the interaction with the organization from buying products online.
The benefit of customer journey mapping includes the evaluation of the channels and path that the customer states to fetch the product from the company. It is one of the important tools that can be used for forecasting the path of the future customers.
The other benefits of customer journey mapping include identification of the needs of the users that are not met. The organization in order to increase the awareness of the customer loses the implementation of customer mapping that minimizes the negativity by providing the correct and appropriate information at the specific stages for a much better customer experience.
| Stages of journey improvement | The improvement in the Coca-Cola industry has been going through by the implementation of innovation and growth to streamline the organization by replacing the current groups and units of business. |
| Activities | The company of Coca-Cola manufacturers in sales the syrups and beverages that includes sparkling soft drinks, sport drinks, water and other plant based drinks. |
| Feelings and needs | In coca cola, understanding and satisfying the needs of the consumers and the important factors that lead to success |
| Potential opportunities for | One of the important opportunities of Coca-Cola is diversification in the sector of health and food business that will improve the offerings of the business to their customers. |
Omni channel marketing
Role of interaction and customisation
Coca-Cola has been able to deliver an Omni channel marketing range through delivering effective strategies that are implemented throughout developing different strategies that would help them to constantly engage with customers. As opined by Verhoef (2021), engaging with customers is helpful in delivering effective interaction with customers through dissecting different channels.
An Omni channel experience is multi-channel experience, which assisted Coca-Cola to be able to provide different information about their product Sprite to develop more beverages through pleasing customers. Customer segments are focused by this company to be able to deliver effective strategies that have created a notion on delivering continuous engagement with customers.
As opined by Gallino and Rooderkerk (2020), their incredible “website, social media presence, and mobile marketing” has assisted them to deliver better criteria on increasing customer interaction. Customisation has been considered by this company to develop better criteria on development of understanding customer platforms and devices that are used to interact with customers. This has assisted in developing better criteria on development of different software for Coca-Cola so that there is more customer engagement.
Omni channel marketing was helpful for Coca-Cola especially in times of COVID-19 that has assisted in attaining different goals, objectives, and design of this company’s business infrastructure.
It has assisted in developing better criteria for developing interaction of customers through developing more website information through creation of devices that have assisted in engaging with customers. As influenced by Sahin (2021), Omni channel services have been available throughout development of different criteria in creating better criteria for developing better inclusion.
It has been able to understand these criteria of Omni channel usages, which has given Coca-Cola a scope on development of different criteria on building better infrastructure of this company. Sprite was developed and advertised through different channels to be able to engage with customers that creates increased interaction with this company.
Coca-Cola customer journey
Customer journey is a designed map that helps in achieving that there is effective customer service through, which satisfaction is reached across. This customer journey has made Coca-Cola understand different aspects of customer experience that are needed to make a company successful.
As opined by Purcarea (2019), based on this map this company got to know different aspects of customer behaviour when they go through websites or other social platforms. This way Coca-Cola has understood their customer criteria and their needs in products. Customer retention was also gathered throughout development of different aspects of awareness that are done through different development of customer marketing segments. Potential buyers look through different developments of delivering different inclusion of data of Coca-Cola that has assisted in creating effective criteria on developing better customer engagement.
Coca-Cola increases different aspects of creation of different creation aspects of delivering better criteria on delivering data through surveys and other measures that increase customer engagement. Customer journey has been helpful in delivering efficiency for this company, which then manufactured products that would satisfy customers. Stage customer assists in becoming a loyal buyer and presents their loyal attributes in this company to be able to achieve success.
CX performance metrics
Customer experiences could be effectively traced by monitoring a few specific metrics. Such metrics usually focus on learning different satisfaction points of users to remodel their existing products and services. Substantial evidence is collected to identify their insights about such items.
Some of the common metrics used by companies for improving the KPIs are identified as Net Promoter Score, Customer Satisfaction Score, Customer Effort Score, and Customer Service Satisfaction. As per Wang et al. (2021), each of these items are effectively rated by interpreting the inclination towards price, availability, quality, social responsibility, brand, and convenience. Substantial amounts of details are collected through this performance measurement scale.
Figure 2: Customer Experience Scale
(Source: Wang et al., 2021)
4 metrics of CX performance
Net Promoter Score: this metric is one of the most commonly used phenomena while customers rate their preferred brands and its products. It is a sound scope for customers to suggest the same for other users as well.
In this case, consumers precisely rate the product or brand on a scale of 0 to 10 (Fisher and Kordupleski, 2019).http://MSc Management Customer Experience Strategy Assignment Sample However, such a score is usually irrelevant while computing the preference of a consumer. This score is negotiated to learn about the proportion of promoters and detractors for a brand.
Customer Satisfaction Score: This metric is useful for rating the experience of customers on a crucial basis. This satisfaction score is usually employed to calculate what any customer has perceived just after using any product or service.
Output obtained from this scale predicts whether a customer is very satisfied or not at all. The formula for computing this percentage is total number of responses at 4 or 5 points divided by the entire set of responses perceived by any company (Baquero, 2022).http://MSc Management Customer Experience Strategy Assignment Sample It is useful for an organisation to rate their scope of services and schedule changes accordingly after such survey.
Customer Effort Score: Companies often tend to learn how easy it is for customers to communicate with the relevant personnel. It is a typical survey that enlightens a company to understand their gap with real customers (Følstad and Kvale, 2018).http://MSc Management Customer Experience Strategy Assignment Sample This could be calculated by number of consumer rating easy by net responses, multiplied by 100.
Customer Service Satisfaction: General feedback is obtained from customers to cite their preferences towards a product. Number of positive responses are evaluated against total feedback to produce a ratio (Rahi et al., 2020). http://MSc Management Customer Experience Strategy Assignment SampleIt gives sound reference to ongoing trends and acceptability of a product.
Recommendation to Coca Cola
Customer satisfaction score and customer service satisfaction are two crucial metrics for calculating the preference of Sprite. Feedback can be obtained from consumers after piercing this item.
High ratings produced by customers and fluctuating nature can aid this company to manufacture the different variants. Effective strategies could be planned for this product by coiling efficient notes about its acceptability.
CX processes in different industries
Depending on the industrial product, different industries implement the CX process accordingly to achieve higher competitive advantage. As followed by Carter (2022), the hospitality industry has been focused on CX processes in their industry to improve their services for customers.
In 2022, the majority of hospitality industry will focus on improving their CX strategy to achieve better performance. Improving CX, hospitality industry has focused on “reviving passion for travel” towards customers. COVID-19 has reduced travelling rate of tourists around the world which has affected the hospitality industry to face lower customer engagement in their customer engagement.
After the pandemic period, majority of customers in travel industry have trouble travelling and fear to travel due to corona virus affection. Therefore, increasing passion for customers encourages them to get out of their home and travel around the world. In this case, the hospitality industry focuses on creating a CX process around encouraging customers to achieve better customer engagement in hotel premises.
In recent times, automotive industry also depends on their CX processes to provide better customer experience to customers when they are engaging with customers. As mentioned by Grüntges et al.
(2021), CX has replaced hardware engineering prowess as car makers in global industry. Previous financial years, where automobile industry organisation highly depend on engineering capability to develop better driving performance and vehicle reliability to provide customers better experience.
However, this factor was changed completely for the automobile industry in recent times. Providing a better customer experience during purchase, organisations have to focus on technology, data rich, electric vehicles. Including this factor in a product organisation was able to get an upper hand in market and they were able to get a better competitive advantage.
In case of food industry, CX is an important factor to achieve higher sales in food products to increase their profitability. As commented by Noakes (2021), in food industry 86% of people want to pay for better CX while engaging with business. Therefore, food industry has to highly focus on their CX process.
There are 3 steps that have been identified, which the food industry focuses on improving CX process. Industry has focus on product quality, data driven personalisation and reviewing customer service. Improving quality of product organisation was able to reduce the chances for customer complaints about poor quality food products. Moreover, they are able to satisfy customers that would increase repetitive purchases.
AI is a modern technology, which provides organisations to achieve automation in business processes. As mentioned by Hoyer et al. (2020), AI implementation in fashion industry assists in improving customer experience.
Fashion industry has focused on implementing AI in their online websites to create automation in customer services, in recent times, majority of fashion industry organisations have chosen to transform business digitally because of customer preferences. AI in online website assisted in creating 24*7 chatbot services for solving queries of customers about fashion products. Therefore, customers are able to solve their problems anytime and it becomes easy for customers to make purchasing decisions about purchasing fashion products.
Conclusion
The current assessment has included the analysis of the CX strategy in which the chosen company Coca-Cola has been trying to evaluate and understand the various aspects of customer experience that is required to make the company successful.
Further the CX processes in various industries have also been analyzed in the assessment. The implementation of CX strategy helps organizations to make much better customer engagement and also increase the customer conversion by reducing the cost of marketing…
References
Baquero, A., (2022). Net Promoter Score (NPS) and Customer Satisfaction: Relationship and Efficient Management. Sustainability, 14(4), p.2011.
Carter, R., (2022). The Top 5 Use Cases for CX in Travel and Hospitality 2022. Available at: https://www.cxtoday.com/contact-centre/the-top-5-use-cases-for-cx-in-travel-and-hospitality-2022/ [Accessed on: 15th September 2022]
Fisher, N.I. and Kordupleski, R.E., (2019). Good and bad market research: A critical review of Net Promoter Score. Applied Stochastic Models in Business and Industry, 35(1), pp.138-151.
Følstad, A. and Kvale, K., (2018). Applying transactional NPS for customer journey insight: case experiences and lessons learned. Services Marketing Quarterly, 39(3), pp.208-224.
Forbes, (2022). About the sale of Sprite. Available at: https://www.forbes.com/companies/sprite/?sh=10b9e45f3020 [Accessed on 2.9.22]
Gallino, S. and Rooderkerk, R., (2020). New product development in an omnichannel world. California Management Review, 63(1), pp.81-98.
Ghobadian, A., Talavera, I., Bhattacharya, A., Kumar, V., Garza-Reyes, J.A. and O’regan, N., (2020). Examining legitimatisation of additive manufacturing in the interplay between innovation, lean manufacturing and sustainability. International Journal of Production Economics, 219, pp.457-468.
Godovykh, M. and Tasci, A.D., (2020). Customer experience in tourism: a review of definitions, components, and measurements. Tourism Management Perspectives, 35, p.100694.
Grüntges, V., Matthey, A., Peter, F., and Stöber, j., (2021). The new key to automotive success: Put customer experience in the driver’s seat. Available at: https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/the-new-key-to-automotive-success-put-customer-experience-in-the-drivers-seat [Accessed on: 15th September 2022]
Hoyer, W.D., Kroschke, M., Schmitt, B., Kraume, K. and Shankar, V., (2020). Transforming the customer experience through new technologies. Journal of Interactive Marketing, 51(1), pp.57-71.
Kalkanci, B., Rahmani, M. and Toktay, L.B., (2019). The role of inclusive innovation in promoting social sustainability. Production and Operations Management, 28(12), pp.2960-2982.
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Noakes, S,. (2021). 3 steps to improving customer experience in food manufacturing. Available at: https://www.columbusglobal.com/en-gb/blog/blog/3-steps-to-improving-customer-experience-in-food-manufacturing [Accessed on: 15th September 2022]
Purcarea, T., (2019). Aligning marketing and sales within the evolving CMO responsibilities: Ensuring greater CX, customer success, and value. Holistic Marketing Management Journal, 9(4), pp.28-38.
Rahi, S., Ghani, M.A. and Ngah, A.H., (2020). Factors propelling the adoption of internet banking: the role of e-customer service, website design, brand image and customer satisfaction. International Journal of Business Information Systems, 33(4), pp.549-569.
Sahin, B., (2021). Exploring Digital Marketing Strategies toward Inbound-Outbound Techniques: A Qualitative Analysis of Turkish Startups. Management Analysis Journal, 10(3), pp.278-288.
Terho, H., Mero, J., Siutla, L. and Jaakkola, E., (2022). Digital content marketing in business markets: Activities, consequences, and contingencies along the customer journey. Industrial Marketing Management, 105, pp.294-310.
Verhoef, P.C., (2021). Omni-channel retailing: some reflections. Journal of Strategic Marketing, 29(7), pp.608-616.
