Marketing: Customer Relationship Management

Throughout The Marketing Era the tables have turned from producers to consumers, which changed the market with alluring choices. This was when businesses began to develop brands, to differentiate themselves from their competitors, helping their customers identify various unique products. Last but least The Relationship Era is where businesses aim to build long-term relationships, because they believe a satisfied customer can become great assets for a business. A satisfied customer is a loyal and businesses rely on customers to spread the word on their goods and services.

HARRELL, G.D. and FRAZIER G.L. Marketing: connecting with customers. First ed. New Jersey: Prentice Hall, 1999

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

Stay in closer touch with all the customers—with new technology to quickly tailor communications, marketing promotions and operations in ways that build strong, long-term

Marketing consists of all the activities to facilitate the exchange. Within this societal perspective, then (1) the makers (2) what they are marketing and (3) their potential markets all assume broad dimensions. The category of marketers might include, in addition to business firms, such diverse social units as (a) a political party trying to market its candidate to the public (b) the director of an art museum providing new exhibits to generate greater attendance and financial support (c) a labor union marketing its idea to members and to company management; and (d) professors trying to make their courses interesting for students. In addition to the range of items normally considered as products and services, what is being marketed might include (a) ideas such as reducing air pollution or contributing to the red cross (b) people, such as new football coach or a political candidate and (c) places, such as industrial plant sites or a place to for a vocation. In a broad sense markets include more than the direct consumers of products services and ideas. Thus a state university’s market includes the legislators who provide funds, the citizens living near the university who may be affected by university activities and the alumni. A business firms market may include government regulatory agencies, environmentalists, and local tax assessors. Definition of Marketing As you already know there are

The relationship marketing has the opportunity to satisfy the buyer as the seller which is the long-term relationship with the customers. This relationship help company to develop more interesting products to attract more attention and more revenue increasing economic opportunities to grow up to another area. For example, give discount coupon for employees of different companies could bring new clients and at the same time every new client could bring their relatives creating a big relationship

For my project I will explain what relationship marketing is. Relationship marketing is different from any other form of marketing. The reason for this is that relationship marketing identifies the long term value of customer relationships and relationship marketing extends communication beyond intrusive advertising and sales promotional messages. Relationship marketing is an arrangement where both the buyer and seller have an interest in providing a more satisfying exchange. Also I will explain what the benefits are of relationship marketing to a business and to a customer. I also will explain the CRM stages, segmentation, technology in relation to relationship marketing and I will do a case study. I am looking at Boots for my case study. I will explain how Boots have managed to build valuable relationships with its customers.

The most important aspect of healthcare management is being able to form a relationship between the healthcare provider and the patients. Higher satisfaction will increase customer value and higher consumer retention. Customer relationship management (CRM) is a combination of people, processes and technology that seeks to understand a company 's customers. It is an integrated approach to managing relationships by focusing on customer retention and relationship development. CRM has evolved from advances in information technology and organizational changes in customer‐centric processes (Chen, I et al., 2003).

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 American Marketing Association defines marketing as - It is the activity includes set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large which adds to profits ( kotler & keller, 2012). Marketing Management means the analysis, planning, implementation and control of plans or programs designed to create, build and maintain beneficial exchange with target consumers for the purpose of achieving organisational objectives. The objectives of marketing management are to create demand through different means by providing information about the utility of product, customer satisfaction, to increase market share and profit, to create goodwill and public image. Today’s marketers are focusing to maintain reputation in the eyes of their customers. The term of marketing changes as the marketing environment changes. Now, marketing functions are not limited. Customers are smarter and more

When examined historically, relationship marketing and customer relationship management have been two central essentials in marketing strategy in the past decades. “Customer Relationship Management” term originated at the beginning of the 20th century when the concept of marketing shifted from transactional to relational. The shift toward this more personal marketing approach has been stemmed from the increased demand for attention of consumers who want to ensure that the brands they choose not only offer and sell products or services, but they sincerely care about them. This emotional demand caused companies to act accordingly and thus human-like brand communication systems and relationship marketing strategies which try to understand and answer customers more deeply and carefully started to occur. Brands started to emphasize the real human beings behind their logos, pay the attention what their customers need and display human-like humour and intelligence in the way they communicate with their customers to get ahead and compete in the market. Being “friends” with the customers and providing every necessary information and support for them on different social media accounts regularly became one of the key success factors for companies today.

This is one of the reasons why there has been a gradual shift towards a relationship-approach. Harker et al. (2006a) quoted the American Marketing Association, to have followed the same approach when it gave the definition of marketing as a business functions and a set of procedure to establish, communicate and provide value to its customers and to manage customers’ relationships in such a way that it is mutually beneficial to all stakeholders. It is now clear however, the shift towards a longer-lasting and more profitable marketing approach from a product-based marketing approach has a better chance of sustainability over longer periods as it is more business-orientated. Relationship Marketing Relationship marketing has been seen during the last decade of the 20th century, as the prevailing thought in developing a marketing scheme both in industrial marketing and consumer marketing (Tseng, 2007) in (Kibeh, 2013). The initial appearance of the phrase ‘relationship marketing’ in the marketing literature was in late 1970s and early 1980s through the research of Dwyer et all (1987) and Berry (1983ab) among

Relationship marketing “transcends the actual product or service to create stronger bonds with consumers and maximize brand resonance” (Strategic Brand Management, P. 182). This marketing strategy understands that customers are the key to success. They treated customers with utmost care. As I mentioned in my personal experience above, Apple created a sense of connection

Besides its main goal of retaining customers and encouraging repeats, relationship marketing also creates value through relationships between buyers and sellers as well inside the organisation, or external with competitors, suppliers and distributors.