Scribd Logo
Upload

Welcome to Scribd!

  • 699 views

    Lesson 2 Customer Relations

    Uploaded by

    Mut Ya
    This document discusses relationship marketing and customer relationship management. Relationship marketing focuses on developing long-term relationships with stakeholders through activities like listening to customers and developing products cooperatively. It emphasizes customer retention over acquisition and relies on cross-functional teams. Customer satisfaction and retention are important goals, as loyal customers purchase more, are less price sensitive, and provide positive word-of-mouth advertising.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Lesson 2 Customer Relations

    Uploaded by

    Mut Ya
    699 views14 pages
    This document discusses relationship marketing and customer relationship management. Relationship marketing focuses on developing long-term relationships with stakeholders through activities like listening to customers and developing products cooperatively. It emphasizes customer retention over acquisition and relies on cross-functional teams. Customer satisfaction and retention are important goals, as loyal customers purchase more, are less price sensitive, and provide positive word-of-mouth advertising.

    Original Description:

    Principles of Marketing

    Original Title

    Lesson 2 Customer Relations

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Read this document in other languages

    Did you find this document useful?

    Is this content inappropriate?

    This document discusses relationship marketing and customer relationship management. Relationship marketing focuses on developing long-term relationships with stakeholders through activities like listening to customers and developing products cooperatively. It emphasizes customer retention over acquisition and relies on cross-functional teams. Customer satisfaction and retention are important goals, as loyal customers purchase more, are less price sensitive, and provide positive word-of-mouth advertising.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    699 views14 pages

    Lesson 2 Customer Relations

    Uploaded by

    Mut Ya
    This document discusses relationship marketing and customer relationship management. Relationship marketing focuses on developing long-term relationships with stakeholders through activities like listening to customers and developing products cooperatively. It emphasizes customer retention over acquisition and relies on cross-functional teams. Customer satisfaction and retention are important goals, as loyal customers purchase more, are less price sensitive, and provide positive word-of-mouth advertising.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 14

    CHAPTER 2 CUSTOMER RELATIONSHIP:

    CUSTOMER SERVICE

    Lesson 1: Relationship Marketing


    What is “Relationship Marketing?”
    It isn’t “talking to customers,” and
    it’s more than “listening to
    customers.”
    It is actively listening to and being
    involved with customers and suppliers
    as a normal part of your business.
    It is “an organization’s effort to
    develop a long term effective link with
    all stakeholders for mutual benefit.”
    RELATIONSHIP MARKETING
    According to Serrano, Relationship Marketing
    includes activities aimed at developing and
    managing trusting and long-term relationships
    with larger customers. (Customer profile, buying
    patterns and history of contacts are kept in a
    sales database) Relationship marketing is a
    strategy designed for customer loyalty,
    interaction, and long-term engagement to be
    fostered. Customer Relationship focuses more on
    long-term customer retention than acquiring large
    numbers of new and potentially single-transaction
    customers.
    Characteristics of Relationship
    Marketing:
    1. It focuses on the long-term
    rather than the short-term.
    2. It focuses on partners and
    customers rather than on the
    company’s products.
    3. It puts more emphasis on
    customer retention and growth than
    on customer acquisition.
    4. It relies on cross-functional
    teams rather than on departmental-
    level work.
    5. It relies more on listening and
    learning than on talking.
    Relationship Marketing is designed
    to develop strong connections with
    customers by providing them with
    information directly suited to their
    needs and interests by promoting
    open communication.
    Relationship marketing calls for new
    practices within the 4p’s.

    PRODUCTS
    ▹More products are customized to the customers’ preferences.
    ▹New products are developed and designed cooperatively
    with suppliers and distributors.

    PRICE
    ▹The company will set a price based on the relationship with
    the customer and the bundle of features and services ordered
    by the customer.
    ▹In business-to-business marketing, there is more negotiation
    because products are often designed for each customer.
    PLACE
    ▹RM favors more direct marketing to the customer, thus
    reducing the role of middlemen.
    ▹RM favors offering alternatives to customers to choose the
    way they want to order, pay for, receive, install, and even
    repair the product.

    PROMOTION
    ▹RM favors more individual communication and dialogue with
    customers.
    ▹RM favors more integrated marketing communications to
    deliver the same promise and image to the customer.
    ▹RM sets up extranets with large customers to facilitate
    information exchange, joint planning, ordering, and payments.
    Customer Value,
    Satisfaction and
    Retention
    Customer Value
    It is the level of satisfaction of your
    customer towards your business. The
    word “Value” can have a number of
    definitions or meanings. It’s often
    related to price for those in business, as
    well as for many consumers – like if I
    were to ask you the value of your home
    when you purchased it. It could also be
    interpreted as the worth of something,
    not necessarily tangible products either.
    Both products and services have value.
    Customer Satisfaction
    It is a measure of how products and
    services supplied by a company meet or
    surpass customer expectation.
    Customer satisfaction is defined as
    "the number ofcustomers, or
    percentage of total customers, whose
    reported experience with a firm, its
    products, or its services (ratings)
    exceeds specified satisfaction goals.“
    Customer Retention
    It refers to the activities and actions companies
    and organizations take to reduce the number
    of customer defections. The goal of customer
    retention programs is to help companies retain
    as many customers as possible, often through
    customer loyalty and brand loyalty initiatives. It
    is important to remember that customer
    retention begins with the first contact a
    customer has with a company and continues
    throughout the entire lifetime of the
    relationship.
    Reasons why companies
    want loyal customers:
    1. Loyal customers buy more
    products.
    2. Loyal customers less price-
    sensitive.
    3. Loyal customers spread
    positive word of mouth.
    Reasons why companies
    want loyal customers:
    1. Loyal customers buy more
    products.
    2. Loyal customers less price-
    sensitive.
    3. Loyal customers spread
    positive word of mouth.
    Reasons why companies
    want loyal customers:
    1. Loyal customers buy more
    products.
    2. Loyal customers less price-
    sensitive.
    3. Loyal customers spread
    positive word of mouth.

    You might also like