Below mentioned are the details about Marketing assignment, please check and let me know if you have any questions?
You have been promoted to VP Customer Centricity in the organization The TJX Companies INC. This is a new position and giving your recent enrollment
1. Define the requirements for your job as VP Customer Centricity
a. What should customer centricity mean to your organization? Use examples of companies in your industry to provide evidence of success and failure and thus, implications for your firm.
b. What cultural changes will you need to make internally in order to truly understand your customer? As you know, this cannot only be your job but needs to be internalized throughout the organization. Be specific as to who and what needs to change and how to make that change.
c. Design a journey map (ala WeWork) for your customer. To be customer centric you need to understand your customer. Identify information needs required and/or if possible speak to customers themselves to fulfill the map. Be sure to consider other alternatives in the market that could fulfill what you provide the customer on their journey
2. Define your pricing model and anticipate what changes you would need to make if your competition a. dumped their price significantly or b. increased their price significantly. Significant is defined as enough to change the dynamics of the market. Being the VP of Customer Centricity, what would you do to best engage your customer so that you don’t lose them and even possibly build loyalty? How price elastic is your product/industry and why? Can you do anything to offset the price elasticity due to the importance you have to your customer?
3. How does your competition effect how your organization can be customer centric?
a. Give 3 examples of how competition plays a role in how your organization is viewed externally in the industry.