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Customer Value Insights
For this assignment submit a word document answering the following questions. Each response should be 3-4 paragraphs minimum in length with one reference citation per answer from the reading.
- “A customer calls L.L. Bean about a favorite jacket he purchased more than 10 years ago and has recently lost. In a matter of minutes, the sales agent identifies the old jacket, locates a replacement model in the current catalog, suggests a matching size and color, and orders the jacket. The replacement jacket arrives three days later.”Peter Kolesar, Garrett van Rysin, and Wayne Cutler, “Creating Customer Value through Industrialized Intimacy,” Strategy + Business, July 1, 1998, accessed October 7, 2011, www.strategy-business.com/article/19127?gko=81aa7Links to an external site.. How has L.L. Bean added to the customer’s perception of value?
- When thinking about customer value, you should plan to address three questions: (a) What do my customers truly value? (b) What do I provide? and (c) How does what I provide differ from my competitors? Select a small business you are familiar with in your local area and write an assessment on how you think that small business management would answer each question. (Small Business is a mom-and-pop dinner called Mama’s Daughters)
Submit answer in APA format, double spaced, Times New Roman in 12 pt font.
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Customer Value Insights
How L.L. Bean Added to Customer Perception of Value
L.L. Bean enhances the customer’s perception of value by demonstrating exceptional customer service and personalization. In the scenario, the customer called to replace a favorite jacket purchased over a decade ago. The sales agent’s ability to locate the exact model from their historical database highlights L.L. Bean’s commitment to maintaining detailed records and offering personalized solutions. By quickly identifying the jacket and suggesting a suitable size and color, the sales agent tailored the experience to meet the customer’s needs. The quick three-day delivery further reinforced their dedication to efficiency and customer satisfaction. This interaction reflects “industrialized intimacy,” where technology and personalized service work together to enhance the customer experience (Kolesar et al., 1998).
The key to L.L. Bean’s approach is building loyalty through exceptional service. The ease and speed with which the problem was…