Consumer is the King Final

7/30/2019 Consumer is the King Final

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MMS 1st yearDiv:- A

Sem - 2

ECONOMIC ENVIORNMENT OF BUISNESS


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Project Done By:

Utkarsh Arya 03

Siddesh Shinde 50

Akshay Mayekar 31 Ramesh Lohar 26

Jitendra Chaurasia 07

Submitted to :- Professor Rajeshri



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Consumer is an individual who has thenecessary purchasing power to consumegood and services.



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Ten times more expensive to acquire a newcustomer than to keep a current customer

- Bain & Company Research

Customers are lost primarily due toindifference (66%) versus dissatisfaction(14%)

- Wall Street Journal



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Consumerism is a social movement of citizensand Govt. to enhance the rights and powers ofbuyers in relation to sellers.

Business, Govt., consumer groups and non-

profit groups are concerned with fair treatmentof customers in the exchange process.



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Consumerconsiders the following factorsbefore making a purchase :

The level ofsatisfaction derived from

buying goods and services.The price he has to pay to make the

purchase.

Satisfaction derived from consuming

alternative products.The price of alternative goods and

services.



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This right asserts the ability of consumersto voice complaints and concerns about aproduct in order to have the issue handled

efficiently and responsively.



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This right states that businesses should

always provide consumers with enough

appropriate information to make intelligent

and informed product choices.



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This right provides protection against themarketing of goods that are unsafe tohealth and life



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This right states that consumers shouldhave a variety of options provided bydifferent companies from which to choose.



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To have access to programs andinformation that help consumers makebetter marketplace decisions.



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Physical protection (safety & health).

Protection against deceptive and unfairtrade practices.

Protection against ecological andenvironmental effects of chemicals,fertilizers or refinery complexes.

Protection against monopoly.



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To get the real value for his money.

To effectively organize the consumers.

To take care of illiterate and ignorantconsumers.

To prevent the consumers fromexploitation.



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Self-help groups

(e.g.- Consumerorganizations)

Business

(by self regulation and fairdeals)

Government

(by imposing laws andorders)



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What The King wants ??



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This is what The King wants !!

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0.5

1

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Mean Score

CredibilityUnderstanding

Courtesy

Communication

Access

Security

Tangibles

Reliability

Competence

Responsiveness

Source: AIMA



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Customer Centric Strategies

Intensive Customer Profiling

Personalised Service

Build Trust

Build Databases Use of latest Technology

To Add Value



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CASE STUDY

Starbucks



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Consumer is the King Final

Documents