Wednesday, May 6, 2020

Management Account Customer Collaboration -Myassignmenthelp.Com

Question: Discuss About The Management Account Customer Collaboration? Answer: Introduction Belle and Sue, a clothing store in Israel is chosen as case study for this report. The report chooses Principle 5. Belle and Sue must follow the Principle 5 guidelines and should focus on customer contribution as that can help them to gain profit. The report illustrates all these aspects in details. Short Description on Belle and Sue Belle and Sue is a clothing store based in Israel. It sells a wide range of clothing accessories from swimsuits to jeans, from shoes to bags and other lifestyle items. Belle and Sue sells attractive clothes of premium quality for both men and women. Shirts, T-shirts, dresses and skirts, shorts, jackets, flat shoes and boots are sold by them in their stores. Moreover, they sell various home products, paper products and magazines in the stores. They conduct e-commerce services (Fidel, Schlesinger and Cervera 2015). Belle and Sue sell all these products online also. Aspects of Belle and Sue that needs improvement Every company wants to enhance their customer base; however, their e-commerce website has many flaws. Belle and Sue advertises products only on Facebook, they overlook twitter and Instagram and other similar social media sites. They do not provide coupon codes to the customers to share it with their friends and relatives (Meyr, Wagner and Rohde 2015). They must focus on customers distribution that means they must take feedbacks from the customers daily. These are all the aspects where they need improvement. Short Summary of Principle 5: Customers Every company wants to embellish their customers lifetime that can help them to conduct the business activities for a longer period of time. A customer must focus on to build a strong customer base as that can help them to increase their sales and productivity. A company must provide discounts and attractive coupons so that the customers visit their company again. The customers getting all the benefits recommend others to visit that company. Besides all that, the companies must focus on customer contributions. The companies must consider both the negative and positive feedback and must work according to their demands, in this way they can get reshape their business in the order their customers want (Wouters and Kirchberger 2015). A company must stay updated and must follow the customers' feedback seriously. In this way, a company can increase their market share with the help of customers' cooperation. Suggesting set of changes to Belle and Sue Belle and Sue must follow the Principle 5. They can take the approach of Threadless and can work according to the customers demands. They can be benefitted from the feedback of the customers. The customers feedback will help them to know the latest clothing trends, the feedbacks can help them to evaluate the clothing items they design (Zhang, Yang and Bao 2016). They must provide the customer's discounts and coupons. They should provide special offers to the regular customers and should take care of them. Explanation of how Belle and Sue should implement changes Threadless build a community where two million people submit and vote on thousands of designs. Threadless works on those designs. Belle and Sue can be benefitted if they follow the customers feedbacks. They should open a twitter account, an Instagram account. Belle and Sue should advertises their clothing products on these social media websites (Wouters and Kirchberger 2015). They will have to consider both the negative and positive feedback from the customers, in this way they can focus on to build customer-centric products. A closing paragraph It can be concluded from the above discourse that Belle and Sue must focus on customer contribution. The customer contribution can enhance their sales and productivity. Belle and Sue should provide coupons and discounts to the customers so that the customers visit their store again. They should offer attractive gifts and offers to the regular customers. Belle and Sue must advertise their products on various social media sites and must take each and every employee's comment seriously. The comments will help them to know about the latest trends and customers' demand. In this way, they can increase their sales and productivity. References Fidel, P., Schlesinger, W. and Cervera, A., 2015. Collaborating to innovate: Effects on customer knowledge management and performance.Journal of business research,68(7), pp.1426-1428. Meyr, H., Wagner, M. and Rohde, J., 2015. Structure of advanced planning systems. InSupply chain management and advanced planning(pp. 99-106). Springer Berlin Heidelberg. Wouters, M. and Kirchberger, M.A., 2015. Customer value propositions as interorganizational management accounting to support customer collaboration.Industrial Marketing Management,46, pp.54-67. Zhang, X., Yang, Y. and Bao, B., 2016. Task decomposition and grouping for customer collaboration in product development.Journal of Intelligent Systems,25(3), pp.361-375.

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