Customer Relationships Coursework Example

Customer Relationships and How it Affects Product Development and Supply Chain
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Customer Relationships and how it Affects Product Development and Supply Chain
Good customer relationship is vital to the success of any company. Customer relationships are not built overnight thus take a lot of time to cultivate. Majority of successful companies understand the significance of customer relationships, therefore, are dedicated to employing the right customer relations experts. Building a good customer relationship is important in that it ensures customer loyalty and repurchasing power. It also provides positive publicity through word of mouth. Thus the business should strive to provide that the customer is satisfied at all times.Powerful customer relationships increase sales by ensuring that there is good communication for product deals and offers.
Customer relationships affect product development in that through such relationships the company can identify and understand the customer needs and preference. This puts the company in an excellent position to be able to deliver products that meet such needs.Strong customer relationships also influence the marketplace thus good customer relations will ensure the company is well perceived in the market.This provides that the products produced by the company are well received thus offering positive impacts on product development (Fuchs & Shreier,2011).
Customer relationships affect supply chain in that; good relationships ensure a trusting partnership with suppliers.

An excellent trusting partnership ensures that goods are delivered in good time and of the right quality. A robust customer relationship also provides the organization with the correct information on the customer behavior and their preferences. Such information enables the business to categorize the customers based on their needs and thus be in a better position to supply the customer with the variety of products that they genuinely need (Christopher, 2016).
In conclusion, customer relationships are vital for any organization to succeed as it affects both product development and the supply chain. Companies should strive to ensure that they have healthy customer relationships, this can be achieved by hiring competent customer relations experts.

Reference
Fuchs, C., & Schreier, M. (2011). Customer Empowerment in New Product Development. Journal of Product Innovation Management, 28(1), 17-32. http://dx.doi.org/10.1111/j.1540-5885.2010.00778.x
Christopher, M. (2016). Logistics & supply chain management. Pearson UK.