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Wal-Mart Stores Inc. Winning Customers Over and Securing the Future

Wal-Mart Stores Inc. Winning Customers Over and Securing the Future. Loyal Customer Consulting (LCC). Completed 2013 Report Customer service areas researched Ambience product knowledge product variety timeliness appearance. Loyal Customer Consulting (LCC).

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Wal-Mart Stores Inc. Winning Customers Over and Securing the Future

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  1. Wal-Mart Stores Inc.Winning Customers Over and Securing the Future

  2. Loyal Customer Consulting (LCC) Completed 2013 Report Customer service areas researched • Ambience • product knowledge • product variety • timeliness • appearance

  3. Loyal Customer Consulting (LCC) • Affects of poor customer service • same store sales • new store sales • related sales • lost sales

  4. Our research has shown how quality customer service can improve Wal-Mart’s sales in a growing economy. Wal-Mart

  5. Areas of Concern for Wal-Mart • customer wait time • Listening • product knowledge • helpfulness and eagerness to help

  6. Wal-Mart is not pleasing the customer • Why should it matter? • What has changed in today’s market that has caused Wal-Mart to falter?

  7. Today’s Market Wal-Mart has seen a rise in competition from dollar Stores, Target and Amazon.

  8. Today’s Market Wal-Mart’s competitors are targeting specific items and beating them

  9. The Customer Service Solution • Wal-Mart’s Options • Stay on the current path • wage a more aggressive price war • Refocus its image and concentrate on service

  10. Can customer service really help Wal-Mart’s revenue and customer retention?

  11. Effectiveness of a Customer Service Focused Organization 81% of companies that deliver excellent customer service are outperforming their competitors

  12. Currently

  13. Start a training program for employees on customer relations Educating employees on store products and services Continue to evaluate customer satisfaction through surveys Hire more employees to work the floor Our Recommendations

  14. References • Barlow, J., & Stewart, P. (2004). Branded customer service: the new competitive edge. San Francisco, CA: Berrett-Koehler. • Ciotti, G. (n.d.). 10 Studies That Reveal What Customers WANT You To Know About Them. The @KISSmetrics Marketing Blog. Retrieved March 9, 2013, from http://blog.kissmetrics.com/what-customers-want/ • Ciotti, G. (2013) Infographic: What is Bad Customer Service Costing Your Business? Help Scout Retrieved April 1, 2013 https://www.helpscout.net/blog/bad-customer-service/ • Consumer Reports Survey: Two In Three Consumers Have Walked Out Of a Store Because Of Poor Customer Service : Consumer Reports http://pressroom.consumerreports.org/pressroom/. (2011, June 7). Consumer Reports Press Room. Retrieved March 9, 2013, from http://pressroom.consumerreports.org/pressroom/2011/06/consumer-reports-survey-two-in-three-consumers-have-walked-out-of-a-store-because-of-poor-customer-service.html • Denning, S. (2012, March 7). Emulate Wal-Mart And Dare To Be Bad? - Forbes.Information for the World's Business Leaders - Forbes.com. Retrieved March 9, 2013, from http://www.forbes.com/sites/stevedenning/2012/03/07/emulate-wal-mart-and-dare-to-be-bad/ • Egan, M. (2013). Report: Wal-Mart February Sales a 'Total Disaster' Amid Tax Hike | Fox Business. Fox Business | Business News & Stock Quotes - Saving & Investing. Retrieved April 1, 2013, from http://www.foxbusiness.com/industries/2013/02/15/report-wal-mart-february-sales-total-disaster-amid-tax-hike/ • "Facebook." Facebook. N.p.,( n.d.) Web. 9 Mar. 2013. <www.facebook.com/>. • Hartung, A. (2012). Wal-Mart's Wrong-Headed Reorganization - Forbes.Information for the World's Business Leaders - Forbes.com. Retrieved April 1, 2013, from http://www.forbes.com/sites/adamhartung/2012/01/30/wal-marts-wrong-headed-re-organization/ • Locker, K. O., & Kienzler, D. S. (2013).Business and administrative communication (10th ed.). New York: McGraw-Hill/Irwin. • Omar. (2012). 20 Important Customer Experience Statistics for 2012 | Fonolo.Call-Back Software for the Call Center. Retrieved April 1, 2013, from http://fonolo.com/blog/2012/03/customer-experience-statistics-2012/

  15. References • SurveyMonkey: Free online survey software & questionnaire tool. (n.d.).SurveyMonkey: Free online survey software & questionnaire tool. Retrieved March 9, 2013, from http://www.surveymonkey.com/mp/lp/createsurveys/ • Thau, B. (2012). Lowest Prices? That's Amazon, Not Walmart, Say Value Shoppers - DailyFinance. DailyFinance - News and Advice for a Lifetime of Financial Decisions. Retrieved April 1, 2013, from http://www.dailyfinance.com/2012/04/06/always-low-prices-thats-amazon-not-walmart-say-value-shopper/ • Ted, M. (2012). Amazon beats walmart on value for lower income shoppers . Retrieved from http://today.yougov.com/news/2012/04/04/amazon-beats-walmart-value-lower-income-shoppers/ • Townsend, M., & Welch, D. (2012). Target Cheaper Than Wal-Mart as Gap Widest in Two Years - Bloomberg. Bloomberg - Business, Financial & Economic News, Stock Quotes. Retrieved April 1, 2013, from http://www.bloomberg.com/news/2012-08-23/target-cheaper-than-wal-mart-as-gap-widest-in-two-years.html • Walmart Corporate - Heritage. (n.d.).Walmart Corporate - We save people money so they can live better.. Retrieved March 9, 2013, from http://corporate.walmart.com/our-story/heritage • Walmart Stores Reviews | Glassdoor. (n.d.). Glassdoor – an inside look at jobs & companies. Retrieved March 9, 2013, from http://www.glassdoor.com/Reviews/Walmart-Stores-Reviews-E715.htm • Wilson, C. (2011, June 13). Walmart (WMT) Customer Service Stinks, Says Consumer Reports | InvestorPlace. Best Stocks - Financial Articles - Stock Trading Tips | InvestorPlace. Retrieved March 9, 2013, from http://investorplace.com/2011/06/walmart-nyse-wmt-sams-club-customer-servic/

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