The most critical problem in today’s world is that companies invest in a product without considering consumer opinion or relying on some essential aspects of it. Investments in technology to improve quality are a good investment, but at the same time, companies often increase the gap between them and consumer expectations (Kearney, 2016). This manifests itself in investments in unnecessary services, which will not pay off later. This misalignment with consumer expectations translates into a drop in demand for products, a lack of return on investment, and a general decline in status. A similar thing happened with JC Penny’s CEO’s idea of creating a “mini-city” inside department stores to increase profits. Instead of launching this campaign to test in a few locations, it was implemented nationwide at once. As a result, customers stopped using the store, causing the company to lose about $1 billion. The fair pricing strategy faced a lack of acceptance from customers who wanted quality, not the value of Friday discounts.
Warby Parker is an example of a successful e-commerce company providing services through a B2B and B2C strategy. The company implements a sales system based on consumer requests and ideas by combining the two methods. The company was initially positioned as an online-only store, but based on customer feedback and recommendations for the physical fitting of glasses, it opened actual stores within a few years. It allowed customers to turn to its services more often, and Warby Parker itself realized its potential.
John Lewis is deservedly recognized as a leader in Internet marketing through its Christmas campaigns. By creating unique advertising that touches customers’ personal feelings, the percentage of trust in John Lewis grows. This strategy is called tentpole marketing; it creates a mood before the event that makes the customer wants to be involved and buy the product or service (Kearney, 2016). Other successful companies include Amazon, which implements a multi-level sales strategy; Walgreens Boots Alliance uses B2B technology, maintaining relationships with many different companies; and Etsy, with a C2C approach that is entirely consumer-driven.
Reference
Kearney, A. T. (2016). Achieving excellence in retailing.