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May 2, 2013

What do customers value?

by mhislop

Today i presented with my team our recommendations for  AAP regarding marketing and drawing millennials into stores. Things i focused on included: creating awareness, generating positive brand image, promoting products correctly and having knowledge employees. 

It struck me as AAP was trying to understand our recommendations that businesses are having an increasingly difficult time trying to decide what customers value the most. Although AAP is technically providing a service, they still think of themselves as a retailer providing car parts. In such a (dry) industry, they often forget or having trouble recognizing what customer value enhancing services they need to allocate limited  resources to. Basic techniques like tracking conversion rates, which are standard in many other industries, are not utilized. Not engaging in basic techniques like this is certainly creating lost opportunity. Additionally, they fail to utilize mediums like the internet effectively, thus not reaching maximum output.

I cant think of a one size fits all solution here, however I think having these businesses become cognizant of customer service and the multiple facets of creating customer value will be essential in creating the best experience possible.            

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