Quiz 6: The Communications Process and Consumer Behavior

Business

Nature and Importance of Feedback: Feedback is the opinion of existing as well as potential customers of an organization about the products and services offered by the firm or about the firm itself. Feedback is one of the most important elements of the marketing process for the companies of any size. For Example, whether it is a small restaurant, continuous feedback from the customers about the various dishes and services will definitely help it in the long run. Moreover, a billion dollar food chain would also require feedback from its customers, so that it can serve its customers in a better way. Feedback is important in numerous ways to a business, such as: • It can help in improving the existing products and services, • It can help in launching the new products and services, • It can help in retaining the customers and getting back the lost customers` base, • The data collected by feedback can be used in making various major and minor business decisions. Ways of Receiving Feedback The method that a company is using in order to get the customers` feedback is equally important as the importance of feedback itself. It solely depends on the nature of business and the type of customers it has. There are various methods of getting customers` feedback, but a company must choose the most effective method. Some of the ways to collect feedback are listed below: 1. Questionnaire: It involves getting the customer response by giving them a form containing various questions about the products and services. Questions can be open or close ended. It is one of the best ways to get the actual opinion about the products and services of a business because customers feel more comfortable while writing about a question rather than being answered to a person orally. 2. Behavioral Insights: In this method, companies appoint a person or a group of persons to note down the behavioral aspects of the customers. This method is most widely used in shopping malls. 3. Direct Interviews: This method involves directly asking the customers for the feedback in a form of an interview. 4. Social Media: This is one of the newest medium of collecting customer feedback. Customers are allowed to use various social media channels such as F to write about the products or services of a company. 5. Telephonic Surveys: In this method, customers are called and asked about the products and services. 6. E-mail Surveys: This type of feedback is generally collected by the E-Commerce companies after the sale of a product. Customer is given an option to write a review about the product or service.

Signs and Symbols are often used by Marketers to convey their messages to the audience in the form of logo or any other graphical representation. Most of the times, these symbols help people to remember the brands associated with these. But practically, the signs and symbols do not mean anything on their own. It is the perception and personal, social and cultural experiences of the people that put meaning to these symbols. Different signs and symbols can mean different things in various cultures and in various states and countries. For Example, the sign of Swastika is a symbol of auspiciousness in Hinduism and is considered very sacred and divine in India or among Hindus because it is associated with Hindu Gods. On the other hand, in European Countries, this symbol is seen as a sign of Nazi Army (G) and their negative influence on the people. Marketers need to be extremely careful before choosing any symbol, sign or tagline for their marketing campaigns. They need to understand various territories and cultures where their business exists, and to make sure that same message is being conveyed to each and every single one of their target as well as existing customer. They also need to keep the message simple and easy to understand because sometimes message is too complex and many customers find it hard to decode properly. Therefore, the more simple message is, there are more chances of successful marketing communication.

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