Customer Relationship Model

Question

You are about to graduate from SEU. You are unemployed, and not interested in joining a traditional 8 am -5pm job. You think that you are an inquisitive person that is willing to take things into your own hands and start your own business. Starting your own business will help you make money, explore your creativity, and innovation. Considering the following mentioned eight project requirements, prepare a Group Project Report and submit. Please note that in each group, there will be up to three members (Not more than three members in a group) and you are suggested to follow the general instructions mentioned in the end of this assignment.

1. What is the business you are interested in? (i.e., Restaurant, Supermarket, Pet store, Barbershop, E-Commerce firm, Gym, Auto Service Center, Sports Outlet etc.).

Give a suitable name to your upcoming business and give a brief description about your business type, where it will be located, and why you chose this business? -2 mark

The business type:

Online store for pets food and products.

Name of the business:

Zoo.

This name was chosen for many reasons:

1. Easy to remember.
2. Related to business type and service provided to the customers.
3. Simple, short and can be sticked to customers’ mind fast.

Simple brief of the business:

We are an online shop providing organic pets food, products like toys, beds, clothing and accessories. Also we are providing health care services, vitamins and supplements.

We are located in Riyadh and can deliver to the whole kingdom. All our products are organic an all our services are online and can be deliver to your doorstep in 5 working days.

This business type was chosen for many reasons:

1. Due to unique service provided.
2. Few competitors in the market.
3. Being an online shop will cut the cost which will effect on the final price offered to end customers.
4. The Hight demand and low supply in the market.

1. How will you do the Customer segmentation for your upcoming business? Which type of customers will be among your target segments? -2 marks

Customer segmentation is very successful marketing tool, Targeting the right customer segments will positively affect the business goals and objectives.

How to segment the customers?

After doing marketing search and conducting customer analysis we found out that our customer persona as follows:

1. Young people.

• Age 12 to 30.
• Mostly female.
• Living in The Riyadh, Jeddah and Eastern region.

1. Senior Citizen and foreigners.

• Age 30 to 60.
• Female and male.
• Living in the big cities.
• Do not prefer using online website.

1. Also we have many customers form many villages around Saudi Arabia.

After collecting information about our customers, we set it up in electronic format along with other information collected from customer services, procurement, and logistics.

The more we have information about our customer the clear understanding of our customers needs and wants which will lead for succussion of marketing plan.

1. What is unique about your business value propositions and why does these customers prefer your offerings to their current alternatives? -1 mark

What is our value proposition?

Value proposition is the value that company promise its customers to deliver the products or service as they expect it and as it should be.

The value proposition of our busines is that we are offering organic, healthy food and a Hight quality products, further more we’re eager to deliver it on time as expected.

Also we are expert in the field and offer our products with reasonable prices.

1. How does your business earn revenue? Which revenue stream will you opt and why? -2 marks

Income: expanding the quantity of clients, expanding normal exchange size, expanding the recurrence of exchanges per client, and raising your costs.

To expand your income streams and more clients, market business well and show it in more places. With the advances in innovation, you’re not, at this point restricted to the actual posting. Posting your place on an online commercial centre, a site or via web-based media can help you arrive at more clients.

Teaming up and packaging things in expanding your normal exchange size by working together.

Re targeting your clients in expanding the recurrence of exchanges. This is simpler with email showcasing devices like Mail Chimp and Campaign Monitor. re-target existing clients, track in the event that they have opened your email and tapped on any of the bulletin joins.

The most ideal approach to build your income streams is by raising your costs. Think about the business circumstance and contender valuing prior to raising costs.

Dynamic and Passive Income Streams.

Broadening.

Acquired Income.

Benefit Income.

Interest Income.

Dividend Income.

Rental Income.

Capital Gains Inc

1. How does the customer interact with your business through the sales process and product lifecycle? -1 mark

An item’s life cycle is its encouraging from when it is made to when it is stopped. There are four phases in the cycle, which are advancement, development, development, and decay. The item life cycle helps entrepreneurs oversee deals, decide costs, foresee benefit, and contend with different organizations.

Item life cycle the board, or PLM, is the way toward noticing an item for the duration of its life cycle. Track every item’s exercises and triumphs to keep benefits high and evade steep misfortunes.

1. How will you build good relationship with your customers?-1 mark

Make your customers feel that you understand what they want.

The more drawn out the client holds with your business, the more noteworthy is the worth given during their lifetime relationship.

Keep your customers notified about the things they are interested to do business with you.

Building dependable client connections is a brilliant move from an advertising point of view. It likewise encourages you to expect your client needs, perform continuous change activities to improve your business and surpass their assumptions.

Client dedication – when clients are happy with your administration they become your unwavering clients and be related.

Know your client inclinations – Listen to your clients to distinguish their necessities.

Acquiring client criticism is one of the procedures to assemble client connections.

Building client connections is a basic business objective across the globe.

1. How will you raise awareness about your business’s products and services over Social Networking Sites? Discuss your business strategy for promoting your business. -2 marks

1. Design a Business Canvas Model for your upcoming business.-1 mark

I am an investor who is ready to invest money in your upcoming business. Write a Sales Pitch in up to 100 words to attract me for doing investment in your upcoming business.-2 marks