Latest Events

Creating-New Customers Vs Retaining Old Customer

Corporate Checkmate

Creating-New Customers Vs Retaining Old Customer on

Saturday 11th August, 2012  at  Jagan Institute of Management Studies, Sector-5, Rohini, Delhi

Jagan Institute of Management Studies, Sector 5, Rohini, New Delhi organized “Corporate Checkmate” an annual lecture series on the topic of “Creating-New Customers Vs Retaining Old Customer” on Saturday, 11th August, 2012 at its campus. The speakers at the session were:

  •     Mr. M A Mateen - Sr VP, Berger Paints
  •     Mr. Animesh Saxena - MD, Neetee Clothing
  •     Mr. Himanshu Pandey - Head Marketing & Sales, Outlook Group

It was an open interactive session, where the students were illustrated with various examples of retaining ideal customers as efficient marketers. The welcome speech was given by Mr. Cherian George where he introduced and welcomed the speakers where the session was thrown open for discussion. Our first speaker Mr. Himanshu Pandey explained the essence of maintaining good healthy relationships with customers and retaining them through the method of line extensions & brand expansion. Further Mr. Saxena stated various facts related to customers & to retain them:

  •     Old customers are the bread & butter of your business, we can’t ignore them.
  •     Good seller balances between both old & new customer.
  •     Services to old customer should not be compromised.
  •     Just build confidence & target for expansion only when you need new customers.

He gave a brief on customer analysis and the entry of a new customer vs. old customer. He also stated that a customer should not be replaced and made to feel neglected rather suggested adding them to current profile. Further Mr. Mateen stated that with Globalization the market scenario has been changed from Manufacturer’s market to buyer’s market. Fluctuating response from buyers has thrown a challenge to the Manufacturers to think over “New Customers Vs Old Customers”. He stated parameters like time, cost, revenue, customer life time value in analyzing the portfolio of the customer. Lastly he stated strategies to improve relations with customers by being good at selling & servicing and stated that

“Companies aspire to be great at selling but they should also be good at service also”

Further the session served a Question-Answer interactive round with students. The Vote of Thanks was given by Mr. Cherian George. Overall, the session was a learning experience and was well appreciated by the students & other faculty members.