Understanding Customers: Classifications and Importance in Technopreneurship, Slides of Entrepreneurship

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4432 - BES TECHNOPRENEURSHIP

CUSTOMERS

FEBRUARY 2023

TABLE OF CONTENTS

CUSTOMERS

CLASSIFICATIONS OF

CUSTOMERS

EXAMPLE OF

CUSTOMERS

SUGGESTION FOR

IMPROVEMENT

CUSTOMERS

 (^) Understanding customers  (^) Studying customers  (^) Customer service  (^) Customers Vs. Consumers

CLASSIFICATIONS OF CUSTOMERS

 (^) Types of customers -before and after purchase -loyal customers

• CUSTOMERS ARE THE INDIVIDUALS AND BUSINESSES THAT PURCHASE

GOODS AND SERVICES FROM ANOTHER BUSINESS.

• (^) To understand hOW TO BETTER MEET THE NEEDS OF ITS CUSTOMERS, SOME BUSINESSES CLOSELY MONITOR THEIR CUSTOMER RELATIONSHIPS TO IDENTIFY WAYS TO IMPROVE SERVICE AND PRODUCTS.
• (^) THE WAY BUSINESSES TREAT THEIR CUSTOMERS CAN GIVE THEM A COMPETITIVE EDGE.
• (^) ALTHOUGH CONSUMERS CAN BE CUSTOMERS, CONSUMERS ARE DEFINED AS THOSE WHO CONSUME OR USE MARKET GOODS AND SERVICES.

Businesses often honor the adage "the customer is always right" because happy customers are more likely to award repeat business to companies who meet or exceed their needs. As a result, many companies closely monitor their customer relationships to solicit feedback on methods to improve product lines. Customers are categorized in many ways. Most commonly, customers are classified as external or internal.

UNDERSTANDING CUSTOMERS

Businesses frequently study their customers' profiles to fine-tune their marketing approaches and tailor their inventory to attract the most customers. Customers are often grouped according to their demographics, such as age, race, gender, ethnicity, income level, and geographic location, which all may help businesses cultivate a snapshot of the "ideal customer" or "customer persona." This information helps companies deepen existing customer relationships and reach untapped consumer populations to increase traffic. STUDYING CUSTOMERS

Customer service, which strives to ensure positive experiences, is key to a successful seller/customer dynamic. Loyalty in the form of favorable online reviews, referrals, and future business can be lost or won based on a good or bad customer service experience. In recent years, customer service has evolved to include real-time interactions via instant message chats, texting, and other means of communication. CUSTOMER SERVICE

CLASSIFICATION OF

CUSTOMER

BEFORE THE PURCHASE

TYPES OF CUSTOMERS: BEFORE THE PURCHASE 2.Discount Customers Discount customers are interested in your product only because you are offering it at a discounted price. There’s no way that discount customers are going to get it at the usual price.

TYPES OF CUSTOMERS: BEFORE THE PURCHASE 3.Researchers These types of customers have done their research, compared you with your competitors, and are looking for the best possible option.

TYPES OF CUSTOMERS: BEFORE THE PURCHASE 5.Unsure Customers These types of customers are similar to lookers but are more confused and unsure about which direction to move forward.

TYPES OF CUSTOMERS: BEFORE THE PURCHASE 6.Looking-to-Switch Customers The looking-to-switch customers who have subscribed to a similar product or service but are unsatisfied with them. This is why they are looking at you as an alternative.

TYPES OF CUSTOMERS: AFTER THE PURCHASE

7.New Customers New customers have just made their first purchase. They are still trying to understand your product and need guidance. This is the stage where you make a lasting first impression.

TYPES OF CUSTOMERS: AFTER THE PURCHASE

8.Active Customers Active customers are the ones who are actively using your products or services. But they’re not your loyal customers yet.