Assignment Acquiring New Customers DIRECTIONS Select one of

Assignment: Acquiring New Customers

DIRECTIONS: Select one of the businesses below as a the framework for this assignment.

-Hair Salon

-Furniture Store

-Fitness Store

-Rental Shop for Tuxedos and Wedding Dresses

-Laundry Mat

Selecting one of the businesses above, submit a 750 word (MINIMUM) plan detailing how you are going to acquire business to business AND business to consumer customers for your business. Be specific! For the business to consumer, list five popular techniques for acquiring new customers and rank them in order of which technique is most likely to result in high lifetime value customers; provide an explanation for your ordering.

Also provide in your submission...who are your potential customers? What is the market segmentation if any? Explain

CRITERIA:

no less than 750 words.

Provide at least two external sources

Solution

         I like to choose the fitness store because at present people are showing more interest to be fit and society was giving the first preference to health. It will be more benefited with the fitness store which comprises of some many instruments to fit and there will be scope to display many items which are related for the fitness centers. By the survey it was clear that these stores are earning more profits than the other kind of stores due to the market demand.

Business to business refers to the one business link with the other business for any kind of transactions between them. During this business to business I like to focus on the logical way of transactions and I will also do some research on the features of the product and what are the importance if they are being bought for example if I likes to buy dumbbells from another business then I will look after the uses of the product and think that whether people will accept this company dumbbells to buy. During this kind of business it was important to have a logical argument with the opposite person and during this I will not give any chances for the emotions whether the opposite person was a relative because in business relations should not be a part.

Business to customers refers to the customer will be the end person for using the product who buy the product from the shop. In this kind of transaction there will be only the one person i.e., customer. While during this transactions I will give more importance to the customer emotion because customer was the person who gives profits for the business. For example if customer approaches me to buy a product if he/she bargains for the product which they are more interested to buy I will give the product for them on the bases of the profit. Both the two types will be different because in B2B transaction emotions will not play any role but in B2C emotions plays the major role and they are more important for the product usage.

For the business to customer there will be some techniques to acquire their attention. In today market there are many techniques that how to grasp their technique among them I used adopt some techniques for my fitness store like.

According to my point of view above mentioned points are more important acquire the new customers but among them by maintaining the product brands and customer satisfaction will be on the top ranked because we know that on this basis many organizations had gained the profits so that, I will adopt them to make my fitness store more success.

Potential customer can be defined as a person wants to buy the product but there will be more possible to buy that product. These kind of customers can be seen daily in many stores because customers will reach the store to buy some products and listen to the owner requirements. There will be market segmentation because many of the people will have the same kind of taste. In order to have an store in the market there will be many requirements and store should attracted by the customers by the offerings and gratitude towards them which makes the store success. As fitness store requires more gratitude towards the customers.

Sources- Wikipedia and from the business management books.