Marketing builds relation with customers providing superior customer value and attracts them providing value added services as well as increases the number of potential customers in a regular basis. Marketing understands the customer needs, designs a superior strategy based on need, want and demand, builds strong relationship with the customers and capture value from the in return. Marketing creates customer loyalty and retent... ... middle of paper ... ...rvice. In fact, Sheila reckoned the market factors very importantly to her marketing plan. A better understanding of the market information can be useful for the successful marketing plan.
Having an excellent customer service will motivate the organization’s employees. This will result in a win-win situation because a happy employee is a productive employee. When a motivated employee helps customers he/she will ensure that the customers are satisfied in a way that exceeds their expectations. These customers will then go out in to the public and share their experience with friends who will eventually patronize the business. In the long run the business gains more customers and increases its profits.
Cross-selling is when sales representatives improve their sales by offering extra products (O’Brien, A & Ma... ... middle of paper ... ...s long as possible. They are able to customize and personalize customers’ information so they can better attend customers based on their needs and characteristics. This benefit will help sales representative to better attend and satisfy their customers next time they need services t o increased revenue. Other benefit of CRM is that it enables companies to exploit new markets. In order to succeed, it is important for CRM to have employees that accept the change and that customers are one of the most important thing of a company.
Every organization must be loyal to its customers by ensuring the quality of product and building a loyal relationship with customers. Through, this , they will bring more customers which helps to increase sales and enhance the branding. Branding serves as a great identification to organization as well as customers. Quality will gives the real value to the product or serving, which will make it sustainable in the competitive market. Being a good quality products helps to increase more revenue.
Customer relationship management or CRM for short is a model for managing a company’s interactions with current and future customers. When CRM is utilized correctly it will increase profitability and customer loyalty, which are both very important to an organization. It involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support. Customer relationship management is very important in many ways to help a company become and stay successful. CRM can help businesses gain a competitive edge through communication, marketing, gathering customer information, social media and mobile technology.
Having the customers feedbacks being monitored and used to formulate a specific strategy in innovating a product or service can help deliver those things to the customers. Also, communication with the customers before and after the purchase is very important in order to evaluate the product's performance and the level of satisfaction that the customer feels on the product. The commitment of industries to the "Customer First" principle is also an important key in delivering value to the customers. This can help marketers to create more customer value to more customers and more profit to the
Therefore, it is imperative that processes are clearly defined and well proven. Automating a poorly understood or followed process usually results in failure. Technology must be used as an enabler to support an already sound sales and marketing strategy. Beyond automating sales and marketing capabilities, technology is now designed to provide professionals with a wealth of information about their company’s clients and the markets that they serve. Companies are now able to collect data about their customers that when analyzed and utilized properly, can result in a competitive advantage.
Therefore, in order to have your new or existing customers buy more from you, you will have to follow techniques that work. Customer satisfaction takes a very important place in Marketing. As much as you think that your marketing strategies should help you generate sales, think about how the same marketing strategies could help you achieve Customer satisfaction. There are a lot of elements involved with Customer satisfaction. Know the problems of your customers and what they are looking for, then offer them the right products and outline the benefits to them.
Organisations should increase the number of products and services that add value for the customer and are profitable for the organisation, since it can ensure that the rewarding lifetime value of the relationship is maximised. The impact of existing market information helps to manage the relationship with customers effectively, and the linkage between marketing, communication and CRM must be strong. CRM adds information regarding marketing, sales and service functions through organisation process automation, technology advancements and information resources like market research institutions in order to maximise customer contact. Therefore understanding customers’ needs and purchasing behavior, effectively manage interaction which they have with a customer. These interactions can arise when customers interact with employees in the organisation through customer contact centres, but also through advertising and sales promotion activities.
Managers much realize the importance of creating a highly satisfied customer. “Marketing occurs when people decide to satisfy needs and wants through exchange. Exchange is the act of obtaining a desired object form someone by offering something in return. Marketing consists of actions taken to build and maintain desirable exchange relationships with target markets. Beyond simply attracting new customers and creating transactions, the goal is to retain customers and grow their business with the company.