Notes - KMV Model Applied to Waitrose PDF

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Summary

KMV Model – Waitrose

Relationship Termination Costs
Relationship Benefits
Shared Values
Communications
Opportunistic Behaviour
Acquiescence
Propensity to Leave
Cooperation
Functional Conflict
Uncertainty...

Description

Relationship Termination Costs • • • • • • •

Acquiescence Waitrose is very knowledgeable in sourcing high quality food and understanding nutritional value. This is evident through Waitrose’s nutritional section, offering advice and answering dietary questions, strengthening the customer’s trust in the brand and highlighting Waitrose’s reliability.

Profit Employee ownership Social groups Working with friends Business success Relationships MyWaitroseCard benefits

Relationship Benefits • • • • • • •

Employee ownership Social groups Working with friends Business success Relationships Quality products Strong ethical values

Shared Values • • • • • •

Commitment

Employee ownership Knowledge Culture of the organisation Teamwork Relationships Fair and ethical practice

Communications

• • • • •

Propensity to Leave

E-newsletters Leaflets TV advertisements Online advertisements Social networking

Opportunistic Behaviour Waitrose do not display any opportunistic behaviour and any such behaviour would damage the consumers’ and employees’ relationships with the company.

Waitrose’s customer base is focused on the quality products it provides, and less so on the price tag, however it is very common for customers to shop at lower cost alternatives such as Aldi or Lidl for branded products that are effectively the same wherever purchased, and return to Waitrose to purchase high quality products that other lower cost supermarkets cannot offer. Cooperation

Trust

Waitrose is known best for its ethical behaviour and fair practice, therefore if an issue were to arise, customers would be willing to cooperate with them and resolve any concerns. Functional Conflict Waitrose have a customer service desk, dedicated to answering any questions and providing support where needed. This allows any ssues to be quickly and efficiently esolved with minimal stress for both parties. Uncertainty

Waitrose prides itself on being honest and reliable, therefore as a customer, I have no uncertainty about the brand, or its products....