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Understanding Customer Power: Strategies for Businesses to Attract Purchases

Customer power is a crucial aspect of the market, as it gives consumers the authority to choose where to spend their money. Businesses face the challenge of persuading customers to choose them over competitors. This guide explores key aspects of customer power, including pricing, quality, pre-sales, and after-sales service. By examining how these factors interconnect, we can understand effective strategies for businesses to attract customers. Additionally, topics like pre-sales and after-sales services are clarified to enhance customer experience and loyalty.

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Understanding Customer Power: Strategies for Businesses to Attract Purchases

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  1. Customer power Customer have purchasing power. They can decide how to spend their money and Which competitor to spend it with. Businesses have to persuade customers to purchase from them.

  2. LO: what is customer power and what can businesses do about it. How can businesses persuade customers to buy from them? Price Quality Pre-sales service After-sales service Why have I used a Venn diagram for these ways of persuading a customer to buy from you?

  3. LO: what is customer power and what can businesses do about it. Activity • Explain what pre-sales service and after-sales service are (Note: if you understand after-sales service you should be able to work out pre-sales service). • For each of price, quality, customer service and after-sales service explain what a business can do and how will doing this attract customers. • Explain how each of the choices affect the other methods eg how might having a lower price affect quality. Complete this for homework.

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