Storbacka, Strandvik, and Grönroos (1994) in the area of service quality models. Relationship Marketing places great emphasis on customer lifetime value. The conventional wisdom suggests that loyal customers are the most profitable but recent work by Heiner Evanschitsky and John Glanfield, both now at Aston Business School suggests that this may not always be the case. To what extent do you believe customer loyalty should influence marketing strategy? INTRODUCTION Customer loyalty is defined as both
FACULTY OF MANAGEMENT STRATEGIC MANAGEMENT CUSTOMER RELATIONSHIP MANAGEMENT (CRM) Abstract Majority of administrations have observed the customer relationship management (CRM) design as a hi-tech explanation for glitches in individual region, convoyed by a great deal of not coordinated enterprises. in any case, customer relationship management have to be conceptualized as a strategy, due to its technological, human, and processes implications
CRM Features and Benefits CRM (Customer Relationship Management) helps companies to understand, anticipate and respond to their customers' needs in a consistent way, right across their organization (Is4Profit, 2006,1). CRM is a business strategy designed to improve profitability, revenue, and customer satisfaction. It consists of software, services, and a new way of thinking to improve profitability, revenue, and customer satisfaction (Sibel, 2006, 1). Practicing CRM requires an efficient and
Marketing Management PART ONE Marketing management is simply referred to as an organizational discipline basically focusing on the practical application of marketing techniques and methods used within an organization or an enterprise and on the management of a firm or an organization marketing resources and activities. There are so many definitions about marketing management but the main key word within its definition is the application tracking and review of a company’s recourses and activities
whom a company supplies products, services and information (Flood 1993). Especially in the services sector the flawless internal and external delivery of services has become very important in a more and more competitive and customer driven market place. According to Dale, Cooper and Wilkinson (1997) a change of the organisational culture is often crucial for the implementation of total quality ideas. For companies in the services sector this means that a service culture has to be developed internally
CUSTOMER RELATIONSHIP MANAGEMENT IN MARKETING FINANCIAL SERVICES (A CASE STUDY OF UNIBANK GHANA LIMITED) ABSTRACT Customer relationship management is a customer focused business strategy that dynamically integrates sales, marketing and customer services, in order to create and add value for the company and its customer. Consequently, the research project addresses problems of customer relationship management in the banking industry. Some of the problems are in the past few
Return On Marketing Investment: An attempt to calculate ROMI Overview Performance measures have been used to assess the success of organisations. The modern accounting framework dates back to the middle ages and since that time assessment of performance has predominantly been based on financial criteria (Burns, 1998). Double entry accounting systems were developed to avoid disputes and settle transactions between traders (Johnson, 1983). By the start of the twentieth century the nature of organisations
Introduction The purpose of this document is to understand the customer relationship management and how it impacts the overall organization’s objective. Currently the organization is using SAP R/3 which provides transactional capabilities and now the organization wants to move ahead and implement SAP CRM module which would help them better manage their customers. Also this document talks about SAP CRM module on cloud vis-à-vis in-house SAP CRM and which one makes more economical sense to the organization
THE IMPACT OF TECHNOLOGY ON MARKETING IN NIGERIA BY EMMANUEL OMOBHUDE IRABOR COMPUTERS AUCHI ABSTRACT With a few exceptions, available literature tends to uphold the view that technology has become a universally relevant concept in every business organization. Some argue that a consistent and positive relationship exists between Marketing and Technology. This paper therefore, proposes that with its effects on marketing, organizations and practitioner can create a symbiotic
Introduction Strategic marketing management is the vital principle of successful marketing in this global environment and market. Strategic marketing is the marketing strategy which combines all the marketing and advertising goals into the comprehensive marketing plan. It is stated that a good marketing strategy should be come from the research on the national and international market and on the product mix. This strategy can be made for maximizing the organization profit and to sustain the business