The impacts of globalization and new technology have significantly changed the ways in which enterprises are managed and work performed.

The impacts of globalization and new technology have significantly changed the ways in which enterprises are managed and work performed.

1. Executive Summary The impacts of globalization and new technology have significantly changed the ways in which enterprises are managed and work performed. In the new global market, consumer expectations are high and the cost to the customer of switching from one business to another is low. When products become increasingly commoditized, satisfying customers is absolutely critical to survival. Increased satisfaction builds long-term customer loyalty. It also generates effective barriers between your business and its competitors. Companies realized that ‘customer is king’ and keeping or retaining a customer is less expensive than creating a new customer for their product. This age of Internet and communication revolution has made available information at the fingertips of the consumers. The consumers now are far better informed, demanding and starved for time. They have numerous choices and are intent on seeking value. Branding alone is not enough to create lasting competitive edge. Understanding the customer’s needs and building a profitable relationship becomes critical. This relationship marketing focuses on maximizing profits over the lifetime value of the customer by creating and sustaining relationships. Thus it cuts down transaction costs and time. Tumasek Pewter (TP) principal activity is pewter manufacturing, distribution and retailing. Its sell-side activities are predominantly based on the traditional bricks and mortar channels which are not well developed. Locally it has only 5 showrooms and 3 strong dealers. It has 1 overseas wholesaler and 4 overseas agents. The www.tumasek.com website is static and merely contains basic company and product information. Customer values that TP has identified as important for its branding are: – quality pewter at competitive price – prompt delivery – easy access to channels of distribution – personalized and innovative products – good after-sales service The above position…


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