Creating and maintaining those relationships requires a company to satisfy the needs and desires of a key group of customers better than any of its competitors for the length of the customer relationships. Increases competitiveness Marketing initiatives, products, and services can be designed and coordinated to attract and retain key consumer groups and build a competitive advantage with these consumer groups. Opportunities to differentiate products and services based on market segment differences are identified. Identifies new markets by identifying consumer groups that are not being well serviced by existing offers. Increases revenue Increase profitable customer behavior .
Satisfied customers do three very good things for companies.
They make repeat purchases without requiring large marketing expenditures. They buy other company products based on their good experiences. They recommend the company to others. Improve your share of the best customers . Some customer groups provide much more revenue than others.