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Relationship marketing
reflects companies attempts to develop stronger relationships with their customers
13-1
Attitudinal loyalty
an emotional attachment to a brand, company or salesperson.
13-2
Functional relationships
Long-term market exchanges Behavior loyalty Previous purchase definitely influences next purchase
Copyright 2011 The McGraw-Hill Companies, Inc. All rights reserved
13-3
Partnerships-Two Types
Relational partnerships
Buyer and seller have a close personal relationship Buyer and seller work together to solve problems Trust
Copyright 2011 The McGraw-Hill Companies, Inc. All rights reserved
Strategic partnerships
Long-term relationships Make significant investments to improve the profitability of both parties = $$$!
13-4
13-5
13-6
13-7
Dissolution
Exploration
Commitment
Copyright 2011 The McGraw-Hill Companies, Inc. All rights reserved
Expansion
13-8
13-9
Copyright 2011 The McGraw-Hill Companies, Inc. All rights reserved
Competence
Demonstrated knowledge of the customer, the product, the industry and the competition
13-10
Honesty
Truthfulness, sincerity, being candid
Likeability
Behaving in a friendly manner and finding a common ground between buyer and seller
Copyright 2011 The McGraw-Hill Companies, Inc. All rights reserved
13-11
Open Communication
More building block for building successful relationships: Listen, listen, listen!! Salespeople should encourage buyers to speak up Be aware of cultural differences
13-12
Common Goals
Partners should focus on maximizing opportunities rather than arguing about who will benefit the most from the relationship Helps sustain the partnership Measurable goals are critical
13-13
Organizational support
Structure and culture Training Rewards
13-14
Copyright 2011 The McGraw-Hill Companies, Inc. All rights reserved
Stages of Partnerships
Exhibit 14.1VERY IMPORTANT!!
14-15
CRM Strategies
Customer Acquisition Gain the greatest number of new Best customers as early in their lifespan as possible. Customer Retention Retain and expand your business and relationships with your customers through up-selling, cross-selling and servicing. Customer Loyalty Offer programs to ensure that your customers happily buy what you offer only from you. Customer Evangelism Enable loyal customers to become a volunteer sales force. Cost Reduction Reduce costs related to marketing, sales, customer service and support. Improve Productivity Enhance your e-business strategies.