SMC Businesses Always Set Objectives Aimed to Achieve Certain Goal Responses

Hi i need you to write a response back basically making a commentary of 350 words each on these students posts. Once you finish the response/comment on the post, label them peer 1, and peer 2 so I know which one is which.

Peer 1

“But Roberts suggested that, while Internet retailing has made huge advances, online stores are still unable to provide the instant gratification offered by a physical shopping experience.”

This article by Wharton.edu published in 2010 speaks about the emergence of eCommerce and its effects on retail. I found it remarkably interesting mainly because we have come so far in just 11 years. Additionally, with the recent pandemic, e-commerce has shown its capabilities with speed and access to a wide variety of products requested by customers. “As online and in-store retailing converges with the growth of mobile networks, the daydream could become a reality.” This is our current reality today; e-commerce has merged with traditional brick and mortar stores. Web-based apps, social media shopping, product mix, availability, and quick shipping are our new norm. Brands can position themselves much quicker to the masses via social media campaigns and websites. “As networks get better, it becomes easier for retailers to target customers based on where they live or shop, and to communicate with them in real-time.” Companies can pull the data from their site’s activity to understand their demographic, buying activity, and trends. So much information is available to be able to assess the buying needs of a business. In a short span of 11 years, online activity has changed in how we currently shop for our essentials. Additionally, with social media sites influencing some younger shoppers, brands can communicate directly to these demographics like never before.

“Most retailers continue to view online customers and shoppers at physical stores as two separate entities, panelists said.” I do not believe this to be true today, as both e-commerce and brick and mortars complement the other. Company leadership now has a complete understanding of technology’s capabilities, and they are putting them to good use in adapting and through innovation. Some of those innovations are understanding trends and buying choices, which were once not understood. Amazon has pulled ahead with their eCommerce business, with technology truly able to identify what consumers might want or what can be added to their current purchase.

“A potential “game-changer” for retailers would be the ability to get orders to a shopper’s home within several hours, rather than days or weeks.” Little did they know that Amazon would be offering next-day delivery in a few years, and Target same-day pick up on many items. Additionally, shipping fees would significantly be less expensive than previously provided. So, it is safe to say e-commerce has indeed been a “game-changer,” and it continues to evolve.

Reference:

Knowledge@wharton, (2010). In the Age of Mobile Networks, E-Commerce Gets Personal. Retrieved pdf from https://knowledge.wharton.upenn.edu/article/in-the…

Peer 2

Customer satisfaction is a process, “it demands a consistency of thought, of purpose and action over a long period of time” (Pulido et al., 2018).

Customer satisfaction is a process, “it demands a consistency of thought, of purpose and action over a long period of time” (Pulido et al., 2018). With the advance of technology, it has become even more relevant to understand the process in employing a consistent, thought-out responsive consumer journey is about having a 24/7 engagement. A bad experience can turn away customers who can digitally share that experience, impacting others exponentially. When I think back to all the companies I have interacted with, there is the “one” I always associated consistency with; Nordstrom. The company set the bar high from its inception and walked the talk on consistency. The first stage begins in the hiring process and how cross-communication of a company’s philosophy on customer satisfaction is so impactful. “Make it clear to your employees that it is their job to take creative action, without asking permission, to think up the right solutions to issues that couldn’t be fully encapsulated by a predetermined set of policies” (Solomon, 2020). It’s not just about service, but Norstrom embraced consistency is from hiring to pricing philosophy; employing technology to make the experience more personal, streamlined, and hassle-free. Is it perfect? Probably not, but what they do as a company is listening, stay engaged throughout the entire user experience, and plug gaps as they come up rather than use excuses to cover up flaws in operations.

Amazon is another company that has based its existence on being customer-centric from the start. Customer centricity is not an easy task, given this company operates on a global scale. What makes Amazon’s success so compelling is the model for creating long-term value and regenerating that value for other components of the company. Consumers can price shop instantly and get merchandise fast. Sellers have access to untapped markets and can even decide whether to carry their inventory. Amazon has its fulfillment center that manages the lists for its seller channels. Accessible to market entry for new sellers wanting to start an online store to lower entry barriers. “The larger Amazon gets, the more it can invest in lower prices, logistics, and expanding its catalog, which in turn creates a virtuous cycle leading towards greater sales per customer…clearly showing customers the value, it can create” (Fox, 2015). The company outpaced and outperformed its nearest rival, eBay. That is not possible without employing a circular consistency model throughout the core of the company’s operations. More importantly, the company employs this technology that reacts instantaneously to customers and stands behind each transaction. Do what’s right for your internal and external customer’s and the rewards for being consistent can be recognized in stakeholder’s equity. Both of these companies mentioned here, Nordstrom and Amazon, have built a tremendous competitive advantage through brand loyalty that didn’t happen overnight. Each of the company’s successes can be attributed to its commitment to consistency at the heart of its founder’s philosophy and carried throughout the business models. “The needs and desires of consumers change constantly, and successful marketers manage to keep up with or stay just ahead of those changes” (Boone & Kurtz, 2014, p. 416).

References:

Boone, L. E., & Kurtz, D. L. (2014). Contemporary marketing (16th ed.). South-Western, Cengage Learning.

Fox, R. (2015, March 7). Amazon Captures Value in a Low Margin Business. Open Forum – How can we understand the digital transformation of business? – Amazon Captures Value in a Low Margin Business. https://www.hbs.edu/openforum/openforum.hbs.org/goto/challenge/understand-digital-transformation-of-business/amazon-captures-value-in-a-low-margin-business.html.

Pulido, A., Stone, D., & Strevel, J. (2018, January 8). The three Cs of customer satisfaction: Consistency, consistency, consistency. McKinsey & Company. https://www.mckinsey.com/industries/retail/our-insights/the-three-cs-of-customer-satisfaction-consistency-consistency-consistency#.

Solomon, M. (2020, December 15). What Any Business Can Learn from Nordstrom Customer Service. Forbes. https://www.forbes.com/sites/micahsolomon/2016/01/26/what-any-business-can-learn-from-the-way-nordstrom-handles-customer-service/?sh=4a1bc1ee5b9e.