Internal And External Factors Of Buyer Retailing And Customer Relationship Management

In these two professors’ work, customers are still in the core of business. According to Vargo and Lush (2004), customers are defined as resources which always change and need to be catched and held. In order to do that, firms have to do marketing researches, understand customers’ demands and conduct promotion activities for their products.

The marketplace is not what it used to be. It is radically changing as a result of major societal forces such as technological advances, globalization, and deregulation. These major forces have created new behaviors and challenges.  Customers increasingly expect higher quality and service and some customization. They perceive fewer real product differences and show less brand loyalty. They can obtain extensive product information from the Internet and other sources, which permit them to shop more intelligently. Marketers are responding to these challenges through customer relationship marketing.

* Customer relationship management is the overall process of building and maintaining profitable customer relationships by delivering superior value and satisfaction

Development of good customer relations is vital for the survival of any given company. Marketing research serves as an indicator of the level of current costumer relation,

3.) Transactional marketing, in the perspective of luring the customer for a one off purchase, focuses strongly on price and short term benefits and product performance, with limited service. Relationship marketing is all about generating repeated sales and customer interactions, thus focusing on bringing value to the customer, and assuring long term performance and service, all aspects of quality become major concerns. Relationship marketing brings customer centricity to the spotlight. This vision has

The focus of our project aims towards formulating strategies with an aim to meet customer needs and developing long-term and profitable relationships with those customers through the company’s products and services. The process followed while taking up this project was following the conventional methodology wherein the initial research was done to figure out the internal and external factors well to gain a clear understanding of the current situation by using various marketing frameworks. The information so obtained and consolidated was duly evaluated and analysed to figure out what marketing strategies would be best suited to the needs of the company in the current scenario.

During this case study, we can see that the current state the following: there are an increasing number of competitors in the credit industry. More and more companies enter this industry, making even more difficult for the bank to compete and gain more customers shares. So, we’ve perform a means-end analysis of the situation in order to get the maximum information for them improve their services and be more efficient. The goal of this means-end analysis was to find a way to differentiate from the others by any means. But the first step of it was to find out what’s important for the customers when we’re talking a

The main goal of Customer relationship management is to create a strong bond between customers and the company. The strong bond can be build by focusing on the two main objectives of CRM. Providing the organization and all of the employees that treat customers with a single and complete view of every customer at every touch point and across all channels and providing the customer a single and complete view of the company and its extended channels (O’Brien, A & Marakas, G. 2004).

5. RELATIONSHIP MARKETING: In this competitive era, companies are always looking for ways to develop and maintain a long lasting relationship with customers, employees and even suppliers. Relationship marketing is two way traffic; it goes beyond just making ‘sales’ and companies are beginning to realize. Good relationship with customers is a strategic weapon for any company, this is because long term customers buy more, do referrals and give back valuable and truthful feedback. Keeping a customer requires an extra effort. According to the founder of Walmart: “There is only one boss, the customer, and he can fire

There are several objectives that the customer relationship management is being implemented, such as customer identification, customer differentiation, customer interaction and personalization (Peppers, 1998). First, it is very important for a company if it able to identify its customers. Different companies offer different products and services which may not satisfy all customers. The costs and efforts of acquiring new customers can be reduced and focused when the company finds out the customers who are its potential customers. For example, e-mail distribution or mailing services can be used if the company has the customers’ profile. Next, the company can use the services to differentiate its products with others. The company may sell or provide the similar products with the other

The following report establishes the buying habits of the customers and determines what motivates them to come to our business. From research done elsewhere, it was noted that the age as well as the income level are major determinants of the buying habits of customers. In order to establish whether this really applies to our business as well, a survey was sent to a sample of 200 of our customers. The customers were asked to give their age and level of income only and they were rewarded with a gift card of $25 towards their next purchase.

Customer relationship management is one of the strongest and most efficient approaches to creating and maintaining relationships with customers. It ideates strong personal bonding between people and the development of this type of bonding drives any business to new levels of success. A strong customer relationship

Parvatiyar, A. and Sheth, J.N. (2001), “Customer relationship management: emerging practice, process, and discipline”, Journal of Economic & Social Research, Vol. 3 No. 2, pp. 1-34

An analysis of the factors of successful implementation of customer relationship management in chain of supermarkets in the United Kingdom

With the emergence of foreign market in the country and the overall sales training, it has shaped the culture and the importance of allowing Malaysian to succeed by investing domestically and internationally as well. The importance or the existence of Customer Relationship Management (CRM) and customer orientation philosophies have gained the trust of Malaysian consumers which in turn has had a positive direct correlation.