Customer Management - Relationship Foundation
Customer Management - Relationship Foundation
Customer Management - Relationship Foundation
Set of flashcards Details
| Flashcards | 9 |
|---|---|
| Language | English |
| Category | Micro-Economics |
| Level | University |
| Created / Updated | 10.03.2013 / 10.03.2013 |
| Weblink |
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Paradigm Shift
Old Economiy -> New Economy
Goods -> Services
Transactions -> Relationships
Attracting Customers -> Retaining Customers
Product Focus -> Customer Focus
BRAND EQUITY -> CUSTOMER EQUITY
Properties of Relationship Marketing
"... all marketing acitivities directed toward establishing, developing, and maintaining successful relational exchanges."
- The Marketing MIx is the managerial tool to shape relationships
- Relationships are an enduring concept; they go through several developmental stages
- Relationships must be (or become) successful. Lack of success requires distint action (whcih may be positive or negative)
- Relationships can be established with various kinds of partners, potentially including not only ties with customers but also with collaborating or even competing firms
- A relationship is a mutual give and take between partners
Can every series of transactions be turned into a relationship?
Prerequisites to relationship marketing implementation
- Mututal recognition
- Knowledge between parties
Transaction Marketing vs. Relationship Marketing
see pic
Customer Relationship Lifecycle
see pic
Why customers are more profitable over time
see pic
Lifetime profit
see pic
Price vs. Cost-to-Serve Matrix
see pic
Pattern of Customer Migration
see pic
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