Today, financing is an integral part of the car-buying process, whether for new or used cars. This makes vehicle financing an important source of revenue for manufacturers, alongside sales and service, and it is also important for customer loyalty.
The sales funnel describes the phases that a potential customer goes through before buying a product or service. This goes hand in hand with the customer journey, in which the buyer approaches the purchase one step closer with each phase.
Why are German products so popular, especially in the technical and B2B sectors? "Made in Germany" is a seal that stands for the high quality of products worldwide. This is achieved through the use of the latest technologies, but also through well thought-out quality management systems and the consistent optimization of production processes.
There are many reasons why companies should consider customer satisfaction as one of the most important KPIs in a competitive market. An "extremely” satisfied customer brings in 14 times more revenue than a "merely" satisfied customer. It is also much more cost-effective to retain customers than to acquire new ones.
There are many reasons why companies should consider customer satisfaction as one of the most important KPIs in a competitive market. An "extremely” satisfied customer brings in 14 times more revenue than a "merely" satisfied customer. It is also much more cost-effective to retain customers than to acquire new ones.
Internationalization offers many opportunities, but international business is much more complex than national business. Efficient marketing is essential for this. It requires commitment, resources, multicultural thinking and, above all, a different strategy.
Development work is cost-intensive. How do you get well-founded input for successful new product development? How do you determine the actual strengths and weaknesses of existing products? Where are the potentials for improvement that are truly important to customers and lead to purchasing of the new products?
Chapter I discussed the problem: Mr. Wolters, who was responsible for sales of industrial heating equipment, had declining sales in one area that could not be explained, despite analyzing all the data available to the company. Chapter 2, outlined the systematic approach TEMA-Q took to solving the problem. Mr. Wolters invited his management and asked the experts from TEMA-Q to present the results they had worked out. The result amazed everyone present.
My friend Heiner Wolters recently told me an incredible story from his field. He had been working for a world market leader for many years at that time and told me about a sales situation in the Portugal market, for which he was then responsible. Service was becoming more and more important, because the harsh competitive pressure meant that more profits were now generated from service revenues than from sales.
Traditional market research is coming under pressure from two sides. Big Data companies such as Google are collecting huge amounts of data at low cost and generating algorithms to predict general and individual customer behavior. They are increasingly replacing classic mass surveys. The major market research companies are trying in vain to counter this trend by cutting costs by relocating to low-wage countries.
