Customer Retention Policy a Case of IKEA

Research Idea: The fundamental idea of a successful enterprise is intertwined with customer relationship management and customer retention policies. The strategies related to customer maintenance have various aspects including identifying target customers, observation and understandings of customer needs and maintenance of customers. This would enable the organisation to survive in the competitive markets as well as to propagate further in vast global markets (Verheof and Lemon, 2013). It has been found that IKEA is facing tough competition from numbers of local competitors. This dissertation is an approach to understand the essential factors to be considered during strategies a successful retention policy. Therefore, customer retention policy has been undertaken as a topic to understand the policy of IKEA.

The management approach suggests an attempt to understand the customer behaviour. Records can be kept in form of database that will explain the particular demands of needs of individual customer. It is important to predict the changes in customer demands according to current market status and behavioural studies. The proper communication and communicative approaches are important for an organisation to be successful. The modern organisations are aware enough to update their customer retention management policies via various approaches (Jonshon et al., 2012). The communicative platforms are generally helpful for customers to relate with each other and discuss about their fondness about the product. Several customer relation improvement programs can also be helpful to update employees to deal with the customer through a more humble approach.   

 

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Reference:

Johnson, M. D., Herrmann, A., Huber, F., & Gustafsson, A. (Eds.). (2012).Customer retention in the automotive industry: quality, satisfaction and loyalty. Springer Science & Business Media.

Peng, J., Quan, J., & Zhang, S. (2013). Mobile phone customer retention strategies and Chinese e-commerce. Electronic Commerce Research and Applications, 12(5), 321-327.