Marketing is about value creation of the product or service, the more you add value, the more you will get competitive advantage in the competitions in the market. The purpose of marketing is to build and develop strong relationship with the customer in a specific customer segment. In today’s world of business marketing’s role is to provide differentiations of the products and services and capture a strong customers’ focus and build loyalty for long term business commitments. Understanding the core marketplace, identification of needs, want and demand of the customers and coordination of these tasks is the aim of marketing to satisfy the customers. Marketing can easily figure out the satisfaction criteria of the customers, market offerings and value of which customers are keen on.
There is great opportunity for the organization to cross selling and up selling to customers which are loyal to firms through CRM. This helps the organization to develop the quality and better relationship with customers which also improve customer satisfaction, hence gained customer
This enhances customer service and created a larger benefit to firms financially in long run. By collecting the mass data and analysing it through cross-tabulation and looking at problems of one question in relation to the response of another question, it creates a link between factors that correspond to each other. Effective and orderly research helps a firm to act timely and accurate when addressing problems to customers and ultimately enhances the efficiency of the entire firm. Through this marketing research proposal it has shown that by combing equity and exchange theory it enhances the ability for organisations to solve many problems that are brought into place on different levels to ensure that there is fair treatment to all customers concerning Loyalty Programmes.
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.
Evaluations of desired behaviour helps organisations to retain goal alignment, or improve where need be. Fiorenza (2007) found that the evaluations programs that are created with direct input from employees and managers tend to be the most successful systems used, as they increase ownership and commitment. Growth and acquaintance of new skills is enhanced, individuals get to learn and know where they need improvement (Mujtaba, 2008). Aguinis (2012) argues that by inclusion of self- appraisals in the performance assessment can be beneficial in a way that employee satisfaction with the PM system increases also enhancing perceptions of justice and accuracy, thus acceptance of system. This can be the reason why the interviewee found it to be a fair practise that the company ensures recognition to individuals that outperform the desired target of cases.
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.
By correctly managing your sales team you will boost profits and create a more profitable atmosphere. Developing the sales force is a major part of being a good manager. Development includes sales strategy, decisions, and structuring your team to best accomplish the sales objectives you have set. Directing the sales force requires attention to detail and being able to make the best of the situations. Sales is continuously changing and innovating.
As TQM leads to improved product quality, it increases the customer ... ... middle of paper ... ...ng, high top management commitment, etc. It is important to follow the practices of TQM as it has a positive impact on performance which leads to competitive advantage. In this research, frequently used measures of competitive advantage were used, i.e. increase in revenues, products quality, level of customer satisfaction and increase in market share. And the findings show that TQM leads to an increase in product quality, customer satisfaction and market share.
This is to build up their loyalty to the firm’s brand. The relationship between the two impacts both parties and can be affected by individual and several transactions. This style of management emerged from relationship marketing which has focused on the lifetime connection with the customer. This type of marketing became popular in the 90’s because firms began to realize the value of their customers as tangible assets they could control. Customer Relationship Management uses different technology to promote exclusive relationship for loyalty
Through delivering more responsive and customized services to customers, CRM increases customer satisfaction and this, in turn, improves customer loyalty. Ndubisi (2003) argued that the only real sustainable business growth strategy is through autoplastic symbiotic relationship with customers, which enables a business to understand their needs more clearly and to create and deliver superior