Marketing Customer Relationship Management - 1450 Words

[pic] FACULTY OF COMMERCE MARKETING DEPARTMENT Some Scholars like John Pestrof regard R M as â€Å"old wine in a new bottle† while others regard it as a new approach representing a paradigm shift Discuss (30) Relationship Marketing can be defined as a strategy that is used by business organisation to learn more about customer’s mood and behaviours so as to develop stronger relationship with them. Peter Druker stated that the purpose of the business is to create customers and keep them. To do that a company must do those things that make people or customers want to make business with it. Thus relationship marketing is not a short term tactic but a strategy that should be†¦show more content†¦Usually this principle is still practices by small local organizations who are still meeting their customers face to face The â€Å"new bottle† is the new technology that now permits many companies to perform a lot of activities so as to create customer relations. Modern Relationship marketing bases its foundation mainly on the modern technology that is opening great opportunities in the business environment. Now many organizations use modern technology to gather detailed information about their customers, track customers as well as use various types of telecommunication services to create relations with their customers. marketers have thus find it out that for a successful Relationship marketing it is a managerial aspect to focus on the primary goal that new technology is to be used to better serve ones client. By focusing projects upon this principle of old wine, managers thereby have a frame work in place through which they may guide and evaluate the progress of their technology implementation. Relationship marketing as a new concept Some scholars believe that the role of marketing has changed from being an old wine in a new bottle to a new concept on its own. There are a number of reasons that are said to have brought this change and these are as follows: †¢ Globalisation.Show MoreRelatedAn Evaluation on the Customer Relationship Management (Crm) Service Marketing (Sm) with Special Reference to Emirates Airline†30204 Words   |  121 PagesDISSERTATION â€Å"AN EVALUATION ON THE CUSTOMER RELATIONSHIP MANAGEMENT (CRM) amp; SERVICE MARKETING (SM) WITH SPECIAL REFERENCE TO EMIRATES AIRLINE† March 8, 2010 By: YASIR ALI 0811866996244 Dissertation submitted In the partial fulfillment of the requirement For the degree of MASTER OF BUSINESS ADMINISTRATION (FINANCE) UNIVERSITY OF WALES, UK. March 2010 Submitted by: YASIR ALI, UNIVERSITY ID: 0811866996244 Dissertation Declaration Form DECLARATION ThisRead MoreMarketing And Customer Relationship Management Essay6883 Words   |  28 PagesMarketing and Customer Relationship Management UNIT -2950 Task -1 Introduction: They are running their thousands throughout the whole world how the McDonald s restaurant outlets. According to the different countries have different mission types and vision statement. Case study initially gave a brief introduction of the McDonald s and then they discuss their strategic plans according to different countries. Dick and Mac McDonald in early 1940, it is the largest fast food restaurant chain inRead MoreMarketing And Customer Relationship Management Essay8385 Words   |  34 Pages Marketing and Customer Relationship Management 2950-v4 Gurjinderpal Singh ND-14460 Task -1 1.1 Marketing- It is the process in which an organisation communicate with different people to sell their particular product. In other words, giving the information to the customer, pursuing the customer and advertising for the customer or aware the customer about the particular product is called Promotion and it is the part of Marketing. Promotion- Promotions refer to the entire set ofRead MoreCustomer Relationship Management and Customer Loyalty: Successful Marketing Strategies of the Banking Industry in Hong Kong17571 Words   |  70 Pagesï » ¿Customer relationship Management (CRM) and customer loyalty are successful marketing strategies in banking industry in Hong Kong Abstract: The role of customer relationship management is significant to facilitate the customer satisfaction within several industries including banking. Integration of marketing strategy, customer relationship and customer satisfaction processes results into reduced cost and performance improvement. Business allows the optimal use of resources resulting into optimalRead MoreQuestions On Customer Relationship Management1351 Words   |  6 Pages.2 Customer Relationship Management 2.2.1 Introduction Follow previous development of relationship marketing field consistently, CRM leverage relationship marketing by utilizing information technology, aim to discover how organization utilize integrated tactics to access to customer properly and pursue invulnerable relationship eventually in terms of customer loyalty. As the globalized environment shifting rapidly, modern savvy customers increase gradually; moreover, they have more opportunitiesRead MoreCustomer Relationship Management Essay919 Words   |  4 Pages 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). To provide toolsRead MoreCustomer Relationship Management : Definitions Of Customer Relationships966 Words   |  4 Pages2.1.1. Customer relationship management Definitions of customer relationship management Kumar and Reinartz (2012, p.4) defined CRM as a process companies analyse marketing database and leverage communication technologies to find practices and methods to maximise lifetime value of each customer to the firms. In this definition, the authors focus on customer value which is the economic value customers receive after they interact with the organisations. The most important part of a CRM strategy isRead MoreCustomer Relationship Management As A Philosophy1253 Words   |  6 Pages1.1 Background Customer Relationship Management as a Philosophy started in the 70s. Peter Drucker, a well-renowned management consultant, stated that The true business of every company is to make and keep customers. Today, the concept of CRM has grown in a global scale. Companies have evolved to focus products solely based on customer’s demands. Over the years, the CRM model does not limit to just being about customer centric but also to use customer profitability as a catalyst in making decisionsRead MoreSap Crm : A Part Of The Sap1112 Words   |  5 Pagesa part of the SAP business suite which enables organizations to direct on strategies for customer aimed development and to separate themselves and gain competitive advantage in the market by providing exceptionally good experience to the customers. Managing customer relations starts with marketing a product to selling the product and ends with after sales service. SAP CRM includes interaction with customers, distributors, retailers and others to give support with sales, presales and after sales serviceRead MoreCarnival Harvard Case1548 Words   |  7 Pagesplay, and alcohol. - Ships almost always sailed full and satisfaction rates were extremely high. Weaknesses - Past issues, such as one ship hitting a sandbar on the first voyage leave lingering impressions on vacationers. - Customer loyalty is low. It appears customers are only willing to take 1-2 cruise vacations in a few year spans, despite Carnival’s high satisfaction ratings. - 85% of bookings come from travel agencies. While a vital external sales force, these travel agencies are expensive