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Understanding Values Paper

1826 Words8 Pages

Understanding values refers to acquiring knowledge about market and customer characteristics. Generating insight is a key factor that is used to help Pret to understand both behavioural and psychographic characteristics of its customers and influences on their buying behaviour. Both positive and negative feedback from customers through feedback cards is greatly encouraged by Pret (Helm, 2016), and research shows that customers continue to offer their feedback because Pret continuously makes changes and listens to customer responses. An example of this was the introduction of Veggie Pret in Soho London, which received over 10,000 votes in favour of the idea (Bearne, 2016) and as a result, Pret have decided to open a second store.
Acquiring …show more content…

They reinforce their marketing messages by having them displayed around stores which includes informative messages about the care that has gone into the preparation of customers products. Moreover, Pret’s packaging and labels reinforce their values of sustainability and environmental commitment, but are also completely recyclable (Helm, 2016). Pret actively encourages omnichannel feedback on all aspects of the customer experience and this demonstrates their ability to utilise two-way …show more content…

Pret puts great emphasis on staff training and development which supports increased staff retention, customer engagement and an enhanced customer experience.
Delivering customer value is not a one-off thing. Businesses like Pret must continuously strive to better understand and establish the most effective and efficient way to deliver on these values.
Value is measured based on what is perceived to be most important to a customer. In particular situations, individuals may value a certain experience over another. For example, although the monetary value of a cup of coffee is the same, but the customer may choose to experience the consumption a different way, for example take-away or stay-in with a friend.
In conclusion, Pret must ensure that they use both quantitative and qualitative methods to generate insight and be confident that they understand what their customers value, to enable them to communicate this through the products they create and

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