Question
Discuss the factors influencing customer value generation.
Answer :
Word Count : 954
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Skip in 10
Factors influencing customer value generation is broadly divided into two parts:
1 Internal Factors
2 External Factors
Internal Factors
Store related
- Colour
- Lighting
- Music
- Design and layout
- Product offerings etc.
Employee related
External Factors
- Location
- Word of mouth
1 InternaI Factors
A. Store related Atmospheric cues:
Customer spending behaviour can be significantly intluenced by the store atmosphere and the customer mood. Customers require a store layout that maximizes the number of products seen within the context of a customer’s need for the product. Customers who experience a form of personal control, whether in orienting themselves to the store section they need to go to or in finding the products they want, generally tèel good about the store. Good fèelings lead to more purchases, especially if products are presented within a display that shows the potential usefulness of’the product for them.
Atmospheric Cues which denote symbols or objects in the store environment proximity has been at the centre of numerous discussions recently as a means of creating a pleasurable consumption experience; engaging and luring customers, with hopes that they will increase their likelihood to purchase, revisit and recommend to others.
Seven of the atmospheric cues are discussed below:
1 Colour
Customer often associate brand and store image with their color. Brands like McI)onalds uses red and
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