Most of the companies nowadays utilise customer-centric approach as to ensure the quality service brought to the customer (Bolton 2004). Moreover, recruiting new customers cost always more than maintaining loyal customers that ultimately aims for profit for the organization (How not to let business slip away: Don't upset old customers when tempting new ones, 2010). As a result, a lot of attentions have been drawn from the customers by the organizations via different marketing strategies in which customer value is become more essential.
Define Customer value - disregarding the cost to acquire the products, the customer value is an intangible element perceived by the customers experiencing products or services provided by seller (Solomon et al., 2009: 55).
This report will analyse customer value of Radisson – an international hotel organization offering different services on hospitality industry.
• Product benefits: Radisson offers different rate from the most reasonable rate up to the business rate as to address the customers need (Radisson 2013). Moreover, different deals appropriately offered at different period of time in which the booking package is associated with different events for example The Valentine’s Day. (Radisson 2013).
• Service benefits: Radisson has competitive advantages by adding more value to the products offered to customers (Adams 2005) by offering air mattress bed instead of a box spring. Besides, the company also provides online pre-check-in, Express your self in the front-line service as to ensure the satisfaction of the customers with the quick service (Radisson Execs Work front line 2004).
• Relational benefits: Radisson has utilised many approaches towards customer relationships including club card, Facebook page, twitter, and application for iPhone and android (Radisson 2013).
• Image benefits: The Company positions itself as one of the world’s...