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Mainz (pte037/18.06.2003/15:36) - German companies are starting to lose touch with their clients, as well as their own employees, reports a new management study conducted by Lothar Rolke, economics professor in Mainz http://www.fh-mainz.de .
The study found that about 45 per cent of German companies anticipate a loss of customer loyalty compared to 22 per cent who are optimistic about the future. The study further came to the conclusion that wrong priorities in communications and marketing strategies could be the reason for the decrease in bonding.
"Those who wish to keep their clients must direct their communication at them," said Rolke. He believes that today consumers are both over-exposed to stimuli and more self-aware than they used to be. Rolke added that most German companies have mainly reacted to changes in consumers' needs by engaging in price wars. The problem with price-orientated strategies, he says, is that there is very little customer loyalty at the lower price mass market segment.
The better strategy, says Rolke, is to draw customers into a world of values, which depends on advertising skill and PR work. The study concludes that companies must learn to listen to their customers again.
The survey was carried out among 388 management and PR leaders in 1,200 of Germany's highest earning companies. The study called "Product and Company Communication in Change. What Marketing and PR Managers Expect in the Future" also conducted a secondary analysis of 18 other studies.
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