Customer Experience Strategy CW2 - Summative Assessment 1 Brief

Assessment Brief of Customer Experience Strategy

You are tasked with writing a 2500-word report on the customer experience (CX) strategy of a specific product from a company of your choice listed below. The report should focus on analysing the CX strategy as it is implemented in a particular country where the company operates.
You should write your report for the Board of Directors of the company you have chosen from the list below. Within the business report, reference should be made to relevant CX concepts, literature and application as appropriate. Only use tables to answer the requirements where it is suggested to do so. Below is an overview of the global fashion industry.

Industry Overview of Customer Experience Strategy:

The global automobile industry, valued at over $3 trillion, is a significant sector that includes the manufacturing, distribution, and servicing of vehicles worldwide. Major players include companies like Toyota, Volkswagen, Ford, General Motors, and Tesla. Key regions driving the industry include the U.S., Europe, China, and emerging markets in Southeast Asia. The industry is currently undergoing rapid transformation due to technological advancements, such as the rise of electric vehicles (EVs), autonomous driving, and smart manufacturing practices. Customer experience is becoming a critical factor in the success of automobile companies. With increased competition and consumer expectations, providing a seamless, personalized, and high-quality customer journey is essential. CX impacts various stages of the automobile lifecycle, including purchasing, post-purchase service, and brand loyalty

Customer Experience Strategy Task 1: Discuss and analyze how good customer experience provides the chosen company with a competitive advantage

Guidelines:

• Using academic sources or references discuss what constitutes a "good customer experience" in the context of your chosen company. Explain three elements that make up this experience, such as personalized service, quick response times, intuitive interfaces, and quality products or services. Setting this foundation is crucial for understanding how these aspects contribute to competitive advantage.
• Link to Competitive Advantage: Explain how providing a good customer experience translates into a competitive advantage for the company. Discuss concepts such as increased customer loyalty, higher brand equity, better customer retention rates, and potential for premium pricing. Use specific metrics or studies, if possible, to back up these points.
• Using one relevant example of how the company’s customer experience initiatives directly lead to a competitive edge. This could include case studies of successful customer service strategies, innovative product support, or loyalty programs that have demonstrably increased market share or sales.
• Analyze Industry Impact: Broaden the scope of your discussion by comparing the chosen company’s strategies with those of its main competitors. Highlight how the focus on customer experience not only distinguishes the company within its industry but also sets new standards for customer interactions that others might follow.

Customer Experience Strategy Task 2: Create a consumer persona and develop a customer journey map that reflects the consumer persona

Guidelines:

- Visual / graphic presentation using simple table or infographic formats:

• Consumer Persona of any age for the chosen company product with the following elements clearly explained in the consumer context: Demographics/Profile, Motivations, Goals, Painpoints
• Customer Journey Map that reflects the consumer persona above ensuring the following elements are clearly enumerated: Stages, Needs, Activities, Feelings, Opportunities for improvement
  - Explain the role of personas in developing CX Strategies
  - Explain the role of customer journey map in developing CX Strategies

Customer Experience Strategy Task 3: Evaluate two CX performance metrics for your chosen company/product. Justify each metric with examples of how they can lead to improved customer experience(s).

Below are the two main categories and the options within each category. Choose one option from each category:

• Customer Generated: Net Promoter Score; Customer Effort Score
• Indicators of Customer Experience: Lifetime Value; Customer Equity; Customer Return Rate; Customer Retention Rate; Customer Churn Rate

Guidelines:

• Understand the Metrics: Begin by researching and understanding what each of the mentioned metrics measures in customer experience. Define and explain the significance of each metric within the industry context of the chosen company or product.
• Use specific examples: Apply real or hypothetical scenarios that demonstrate how these metrics are utilised by the company or could be used to improve customer experience. For instance, explain how a high Net Promoter Score can indicate customer loyalty and willingness to recommend the product, which in turn can lead to increased market share
• Connect Metrics to Customer Experience: Clearly explain how each chosen metric directly affects customer satisfaction and business outcomes. Discuss how tracking these metrics can provide insights into customer needs and preferences, leading to better product strategies and customer service enhancements.
• Provide evidence or sources: When making claims about how these metrics impact the business, include evidence or reference credible sources that support your argument.
• Structure Your Answer: Structure your answer coherently. Start with an introduction to the metrics, followed by detailed examples and explanations, and conclude with a summary of how these metrics collectively contribute to an improved customer experience.

Customer Experience Strategy Task 4: Critically discuss how Interaction and Customisation is used to deliver a seamless omni-channel customer journey by your chosen company.

Guidelines:

1. Describe Key Concepts: Start by clearly defining what you mean by "interaction," "customization," and "omni-channel marketing." Explain how these concepts interrelate and why they are crucial for modern marketing strategies.
2. Discuss Interaction Strategies: Detail how your chosen company engages with customers across various platforms. Highlight specific tactics such as personalized customer service, interactive social media campaigns, or integrated mobile applications. Describe how these interactions help in building a cohesive brand experience that leverages multiple touchpoints.
3. Explore Customization Techniques: Explain how the company uses data to customize the marketing content that different segments of the audience receive. Focus on technologies and methodologies like data analytics, AI for behaviour prediction, and adaptive content delivery systems. Show how customization enhances customer experience and engagement.
4. Critically Evaluate Omni-Channel Integration: Critically assess how well the company integrates these interactions and customizations across all channels to deliver a seamless customer experience. Discuss the impact of this integration on customer loyalty and brand value. Provide examples of how seamless transitions between channels (e.g., from online browsing to in-store purchasing) are achieved and highlight any areas for improvement.

Presentation: The report must be in clear font (e.g., Arial/Calibri point size 11) with consistent format styles, automatic page numbers and table of contents. Line spacing should be 1.5. Maximum word count: 2500 (Summative)