Customer Relationship Management at Ford Essay Example | Topics and Well Written Essays - 1250 words - 13

Customer Relationship Management at Ford - Essay Example According to the management, the success or failure of our business depends upon the client problem solving and maintaining sound customer relationships. Ensuring customer satisfaction is the key principle for making the business a success because satisfied customers are the ones’ who will come again to buy the products, they are less receptive to the competitor's advertisement and they will increase the credibility of the firm by viral marketing (Importance of Customer Satisfaction). On the other hand, customer problems will cost the company in terms of lost sales; it will also hamper future purchases by the customers. And will cause a negative word of mouth behavior. Once a customer is dissatisfied and is lost in a competition it becomes exceedingly difficult to get him back to the brand again. Customer retention is the key to a prosperous business and according to the Pareto’s Principle, 80% of your business will come from the 20% of the customers. Therefore, it is i mportant not only to retain customer but also to instill customer satisfaction. So Ford needs to address the customers’ issues and problems effectively and efficiently to make sure they don’t lose out their customers to the competition. Â  As a result, the traditional philosophy that says a customer is a king is still applicable to modern-day business practices. Customer relations at Ford are comprised of two different channels, namely, end customers and dealers (Cisco).