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MARKET STUDY
LoBue's approach to targeting profitable customer and market segments
THE NEED
With competition heating up and non-traditional firms entering the
market, the demand for meaningful service differentiation is strong.
Pressure on margins requires a more precise focus on profitable
relationships with in specifically targeted segments of the marketplace.
THE SOLUTION
LoBue works with clients to establish a meaningful service definition.
This will often include:
- A customer survey designed to find out the "root causes" of customer
dissatisfaction
- An approach to customer profitability starting with analyzing the
existing customer base
- Competitive strengths, weaknesses, opportunities and threats to
business
- A market study designed to identify potentially new profitable
segments
- New strategies and action plans tailored for each customer and market
segment
- New critical success factors and their supporting Key Performance
Indicators
THE RESULTS
Managers are able to increase their profitability, improve customer
service and enhance competitiveness by:
- Installing "Best in Class" processes for market identification and
targeting
- Eliminating non-value added activities
- Establishing clear market segmentation with products tailored to those
segments
- Improving Sales Officer and Administration efforts
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~Typical Performance Results~
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Key Performance Indicators |
Customer Retention Rate |
Sales Productivity |
Expense Reduction |
Revenue Increase |
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Typical Range of Results |
20 - 40% |
20 - 40% |
25 - 45% |
15 - 30% |
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