Customer Relationship Marketing

1833 Words4 Pages

3.0 Company Analysis
The current TMC Life Sciences Berhad market price is RM0.39 and it is maintaining a rather constant fluctuation (Bursa, 2014). The company has made revenure since 2012 and is showing a promising start of second quarter for financial year 2014. TMC was the first medical centre in South East Asia that installed a 32 Channel 1.5 Testa Magnetic Resonance Imaging (MRI) machine and the first to install the latest full field mammogram system in 2013. With its state-of-the-art facilities, 180 beds and over 70 praiseworthy consultants from various specialties field, TMC shows competitive advantages and differences when compared to its competitors. Aside from hospital, TMC has fertility centres throughout Malaysia locating in Kepong, Puchong, Johor Bahru and Penang while its headquarters is located in TMC.

4.0 Analysis of Customer Relationship Marketing

4.1 Company’s Value Proposition
With the promise of delivering quality yet affordable health care solutions and of high standard service experience to their local, regional and international customers, TMC aim to provide different, better and worthy services that meet up to the expectation of their customers as a multi-disciplinary tertiary healthcare provider. TMC communicates clearly to their customers proving that the value of the services provided by the organisation is equivalent to the benefits while deducting the cost incurred. The constant strive in exceling the total satisfaction of their patients, TMC appoints medical personnel team that are trained, equipped with skills, dedicated and passionate.

4.2 Degree of Customer Centred Organisation
According to Businessweek (2005), businesses are moving towards experience economy that is affected by cons...

... middle of paper ...

...ful Entrepreneurship (Collection). 1st ed. [ebook] Upper Saddle River, NJ: Pearson Education. Available at: http://books.google.com.my/books?id=K3vHWZCp5KsC&pg=PT520&dq=gaps+in+marketplace&hl=en&sa=X&ei=kQ-gU6rsKMqLuASwiIHoCA&ved=0CCwQ6AEwAw#v=onepage&q=gaps%20in%20marketplace&f=false [Accessed 17 Jun. 2014]

Tropicana Medical Centre, 2014. Tropicana Medical Centre. [online] Available at: http://www.tropicanamedicalcentre.com/index.php [Accessed 1 Jun. 2014]

West, D., Ford, J. and Ibrahim, E., 2010. Strategic Marketing: Creating Competitive Advantage. 2nd ed. [ebook] New York, NY: Oxford University Press Inc. Available at: http://books.google.com.my/books?id=JWGcAQAAQBAJ&pg=PA231&dq=application+of+4+tier+customer+pyramid&hl=en&sa=X&ei=XsCfU-edJtWgugTP7YCoDw&ved=0CBoQ6AEwAA#v=onepage&q=application%20of%204%20tier%20customer%20pyramid&f=false [Accessed 1 Jun. 2014]

The Importance Of Customer Relationship Marketing
1313 Words | 3 Pages
literature are customer relationship marketing, e-relationship, relationship quality, and customer service experience. 2.2 Relationship Marketing Customer relationship marketing concept has been recognised many years ago. The interaction between seller and buyer is considered as a way to develop relationships by organisations to meet and exceeds customer satisfaction and needs, which leads to relationship marketing concept (Gordon, 2009; Jobber, 1998; Gummesson, 2002). The practice of customer relationships
Read More
Customer Relationship Marketing Essay
831 Words | 2 Pages
Customer Relationship Marketing (CRM) is a perspective on how the organisation can relate to its customers and to other stakeholders, which has an impact on how the organisation is developed and customers are managed. It focuses on managing relationships with customers, with a strong emphasis on customer attraction and retention, while creating long term relationships between a service provider and a customer for their mutual benefits. Customer Relationship Marketing is concerned with how organisations
Read More
Marketing: The Core Concept Of Customer Relationship Marketing
2888 Words | 6 Pages
Relationships, the essence of life, which are like invisible threads but aim to build unique bond between individual and the company, which needs to be managed effectively but very complicate to be in control.CRM is a comprehensive strategy and the process of acquiring, retaining and parterning with select few customers, to create superior value for the company and the end customer. Customer Relationship Marketing (CRM) is a business process in which client relationships, customer loyalty and brand
Read More
Strategic Customer Relationship Marketing (SCRM)
1493 Words | 3 Pages
 Strategic Customer Relationship Marketing (SCRM): The perfect form of Relationship Marketing is to deliver the distended values to the customers/travellers over and above the regular products and services offered by the organisation. SCRM allows company to overcome the hassles such as obtaining global competitive advantage, adopting the rapidly altering technologies and also minimising time and efforts to market the new products. SCRM is a strategic business process whose vital objective is to
Read More
Customer Relationship Management CRM The Heart of Marketing
1526 Words | 4 Pages
Customer relationship management has become the marketing buzzword of the past two decades with business-to-business firms jumping in, many without really being certain of what they hope to achieve from it, and oftentimes being disappointed with the results. Gummesson (2004) describes CRM as "the values and strategies of relationship marketing with particular emphasis on customer relationships- turned into a practical application." CRM has become a necessity to successfully and profitability manage
Read More
Customer Relationship Marketing: American Express And United Airlines
1010 Words | 3 Pages
Customer Relationship Marketing (CRM) is more focused on what happens after a customer is acquired. The goal is to develop a long-term customer relationship that benefits both the customer and the company. This summary will discuss the purpose of customer relationship marketing, the customer’s value versus the company’s value, strategies used to implement CRM, and review companies that have successfully implemented customer relationship marketing programs. Purpose of CRM Relationship marketing
Read More
Customer Relationship Marketing
656 Words | 2 Pages
Marketing has been a major component in organisations, it exhibits the primary focus on transactional exchange and its key focus on the products or services may be of interest to customers, and the strategy to use in sales, communications and business development (Kotler, 2009). The history of marketing and marketing practices itself can be related back to as far as 7000 B.C. (Carratu 1987), it derived from the changing revolutions as well as the rise of economies particularly in the 19th century
Read More
Relationship Marketing
1078 Words | 3 Pages
literature review of Relationship Marketing in relation to customer satisfaction and customer loyalty. In this review, I will provide a brief orientation of relationship marketing; identify the different dimensions of relationship marketing and critically analyse the concept of relationship marketing with regards to customer satisfaction and customer loyalty. Leahy (2011:651) defined relationship marketing as ‘attracting and keeping customers for a long period of time’. Relationship marketing is used by firms
Read More
Relationship Marketing
1204 Words | 3 Pages
Relationship marketing is recommended as a strategy to overcome service intangibility (Berry 1983) and may be appropriate for "credence" services, that is, services that are difficult for customers to evaluate even after purchase and use (Zeithaml 1981). Many professional and financial counseling services are in this category. The buyer may have a relationship with a firm itself and/or a specific contact person, but personal relationships are believed to result in greater commitment (Liechty and
Read More
Critical Analysis Of Relationship Marketing
736 Words | 2 Pages
According to the authors of the article, Relationship Marketing is powerful when it comes to theory but troubled in practice. The authors state that in order to prevent its premature death, marketers need to take the time to figure out how and why they are undermining their own best efforts, as well as how they can get things back on track (Fournier et al., 1998). Marketers did not fully understand what relationships with customers were about and how they should be built as well as maintained. As
Read More
A Service Encounter
1573 Words | 4 Pages
service encounter is defined as a moment when a customer interacts with a service or product for the first time. It is the customer’s actual interaction with a service company. It is identified as a key component of the current agenda for service marketers. More than half of the world’s multinational corporations employ in providing services, thus the scrutiny of service encounters is becoming increasingly significant. Research evidence indicates that customers generally compare their expectations with
Read More
The Importance Of Account Management
707 Words | 2 Pages
article from the Journal of Business and Industrial Marketing, which is titled Strategic account management: customer value creation through customer alignment. Account management can be defined as “being the management of dedicated sales and/or marketing processes directed towards important customers” (376 Bauwen/Gosselin). The account management strategy is important to a firm because it determines the plan in acquiring and developing their customers. The authors in the article give new classifications
Read More
Digital Marketing: Social Media And Social Networking
1362 Words | 3 Pages
“The term digital marketing has evolved over time from a specific term describing the marketing of products and services using digital channels – to an umbrella term describing the process of using digital technologies to acquire customers and build customer preferences, promote brands, retain customers and increase sales” (Financial Times, lexicon.ft.com; P.K.Kannan Hongshuang “Alice” Li 2017). Following the American Marketing Association's firm centric definition (https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing
Read More
Overview of Internal Marketing
1959 Words | 4 Pages
Table of content Introduction………………………………………………………………………………..1 Internal Marketing………………………………………………………………………..2 Market Orientation……………………………………………………………………….2 Internal Marketing within the organization…………………………………………….4 Conclusion…………………………………………………………………………………5 List of References…………………………………………………………………………6 1. Introduction Since more than 25 years the idea of internal marketing has been discussed in a wide range of the academic literature. The confusion has been further increased several
Read More
Redefining Marketing by Creating Exceptional Value for Both Shareholders and Customers
2367 Words | 5 Pages
Redefining Marketing by Creating Exceptional Value for Both Shareholders and Customers EXECUTIVE SUMMARY This report redefines marketing in terms of share holders and customers as: “Marketing is a management process that seeks to maximize return to shareholders by developing and implementing strategies to build customer relationships of trust with high value customers and creating a competitive advantage.” The report also tells us how value can be created for customers and shareholders
Read More

Open Document

Wait a second!

Customer Relationship Marketing

The Importance Of Customer Relationship Marketing