Influence of Strategic Customer Management on Competitive Advantage of Mari Petroleum Company Ltd in Pakistan
DOI:
https://doi.org/10.53819/810181025094Abstract
Competitive advantage is an aspect or mix of elements that make a firm more successful than other firms in a competitive environment. The goals of the competitive advantage are to develop a framework that makes others firms in the industry hard to imitate. The study sought to examine the influence of strategic customer management on the competitive advantage of Mari petroleum company ltd in Pakistan. The study was literature based. The findings of the study were based on the findings from the preceding studies. Based on the reviewed literature, it was found that strategic customer management has a positive effect on competitive advantage. Strategic customer management has become a crucial capability that businesses need to develop. A strategic customer represents the target audience for a product and possesses an outstanding reputation. The study noted that for sustained success, it is important for companies to align their customer strategy with the company’s aims and objectives. The profitability of a firm depends on its ability to identify, grow and retain profitable customers. This can be achieved through combining a deep understanding of customer needs, behaviors and values, with the ability to engage specific customers optimally at various touch points. In addition, strategic customer management enables the company to optimize customer satisfaction and develop a relationship of trust with its customers. The study concluded that strategic customer management has a positive effect on the competitive advantage of Mari petroleum company ltd in Pakistan. The study recommended that companies need to emphasize more on ensuring they optimize strategic customer management. Besides, firms need to combine a deep understanding of customer needs, behaviors and values to increase customer relationships.
Keywords: Strategic customer management, competitive advantage, Mari petroleum company ltd, Pakistan
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