Corporate Customer.pptx

Corporate Customer : Characteristics and their importance

1. CORPORATE CUSTOMER Wednesday, December 13, 2023 1

2. Customer A customer is a person or business that buys goods or services from another business. Customers are crucial because they generate revenue. Without them, businesses would go out of business. A retail customer refers to an individual or entity that purchases goods or services from a retailer for personal or business consumption. Wednesday, December 13, 2023 2

3. Corporate Customer Corporate Customer  means an organization that purchases the Services from Customer for use by that organization's employees and/or agents. A corporate client/customer is a company or organization that contracts with another company for goods or services. Corporate Customer is a business or organization that purchases goods or services for use in their operations. Retail customers typically purchase smaller quantities of products or services, while corporate customers may purchase larger quantities or negotiate volume discounts. Wednesday, December 13, 2023 3

4. Characteristics of Corporate Customers Buying Intent: They purchase products or services to support their business operations, enhance efficiency, or achieve specific business goals. Purchasing Power They may place larger orders or engage in long-term contracts for regular supplies. This purchasing power enables them to negotiate better pricing, discounts, and favorable terms with suppliers . Wednesday, December 13, 2023 4

5. Characteristics of Corporate Customers… Decision-Making Process: The decision-making process in corporate purchases is usually more complex and involves multiple stakeholders. Various departments, such as procurement, finance, and operations, may be involved in the decision-making process. Wednesday, December 13, 2023 5

6. Characteristics of Corporate Customers… Relationship Focus Corporate customers often seek partnerships with suppliers who can provide consistent quality, reliability, and ongoing support. Suppliers may need to offer personalized customer service, dedicated account management, and tailored solutions to meet the unique needs of corporate customers. Wednesday, December 13, 2023 6

7. Characteristics of Corporate Customers… Customization and Scalability Corporate customers often require customized products or services that align with their specific business requirements. They may need scalability options to accommodate their growth or changing demands. Suppliers that can adapt to these customization and scalability needs are more likely to attract and retain corporate customers . Wednesday, December 13, 2023 7

8. Characteristics of Corporate Customers… After-Sales Support Corporate customers often expect robust after-sales support to ensure smooth operations and minimize disruptions. Timely delivery, technical assistance, warranty coverage, and efficient problem resolution are essential aspects of catering to corporate customers' needs . Wednesday, December 13, 2023 8

9. Characteristics of Corporate Customers… Payment Term Corporate customers often have established payment terms, such as invoicing and credit arrangements. This allows them to manage their cash flow effectively. Suppliers may need to provide flexible payment options and credit terms to accommodate corporate customers' financial requirements . Wednesday, December 13, 2023 9

10. Characteristics of Corporate Customers… Long-Term Contracts Corporate customers may enter into long-term contracts or service agreements with suppliers to ensure a stable and reliable supply chain. These contracts can provide a sense of security and foster a long-term partnership between the supplier and the corporate customer . Wednesday, December 13, 2023 10

11. Importance of Corporate Customers Corporate customers play a crucial role in the success and growth of businesses. Revenue Generation Corporate customers often make larger and more frequent purchases compared to retail customers. Their orders and contracts can contribute significantly to a business's revenue stream. Attracting and retaining corporate customers, businesses can secure consistent and substantial sales volumes, leading to financial stability and growth. Wednesday, December 13, 2023 11

12. Importance of Corporate Customers… 2. Long Term Relationship Building strong relationships with corporate customers can lead to repeat business, ongoing contracts, and potential referrals. Long-term relationships provide a stable foundation for business growth and sustainability. Wednesday, December 13, 2023 12

13. Importance of Corporate Customers… 3. Higher Profit Margins Corporate customers often have higher purchasing power and are willing to pay a premium for quality, reliability, and tailored solutions. Result in higher profit margins compared to selling to individual retail customers. Focusing on corporate customers, businesses can increase their profitability and improve their bottom line. Wednesday, December 13, 2023 13

14. Importance of Corporate Customers… 4. Market Validation and Reputation Securing corporate customers can serve as a validation of a business's products, services, and capabilities. Having reputable corporate customers in the client portfolio can enhance the company's reputation and credibility in the market. This can attract more corporate customers and improve the chances of winning new business opportunities. Wednesday, December 13, 2023 14

15. Importance of Corporate Customers… 5. Opportunities for Innovation and Growth Corporate customers often have specific needs and challenges that require innovative solutions. By understanding these needs and collaborating closely with corporate customers, businesses can develop new products, services, or features that cater to their requirements. This can lead to innovation and drive business growth through differentiation and competitive advantage. Wednesday, December 13, 2023 15

16. Importance of Corporate Customers… 6. Industry Partnerships and Networking Engaging with corporate customers can provide valuable networking opportunities and industry partnerships. Collaborating with established businesses in the industry can open doors to new markets, distribution channels, or strategic alliances that can further expand the business's reach and opportunities . Wednesday, December 13, 2023 16

17. Importance of Corporate Customers… 7. Stability and Resilience Corporate customers provide a level of stability and resilience to businesses, especially during economic downturns or market fluctuations. While retail customers may reduce discretionary spending during tough times, corporate customers may continue to require essential products or services to support their operations. This can help businesses maintain a steady revenue stream and withstand challenging market conditions. Wednesday, December 13, 2023 17

18. Thank You Alok Singh Independent Trainer & Investment Planner- BFSI Wednesday, December 13, 2023 18