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.
Nowadays, most companies tend to compete to gain the customer’s loyalty by providing purchasers diverse programs namely creating brand communities, offering excellent customer service and developing loyalty programs. Customer loyalty means people buy products from the same manufacturer repeatedly rather than from other suppliers. Typically, as marketing managers, are providing excellent facility to obtain the customer’s needs and interest in long-lasting relationship, for instance, loyalty program. It considered one of the value propositions that a marketer can offer a potential customer whichever can come in many forms. In our competitive market, maintaining customer loyalty is obviously a key goal for any marketing managers, customer experience programs are the most effective way to drive customer loyalty when customers are engaged on an emotional, intellectual, or even spiritual level, and when a customer cherishes a product or service before, during and after its use (Bloemer and Kasper, 1995).
Total company effort includes a company offering superior customer value to attract customers, satisfy those customers, and retaining those customers. This will increase sales and build a profitable relationship with customers. Much like the marketing concept, the marketing strategy is vital to the marketing plan. The marketing strategy involves finding attractive opportunities and developing profitable marketing strategies (Perreault et al., 2014). A marketing strategy entail... ... middle of paper ... ...ct, place, promotion, price, customers, and target markets.
This essay is a critical literature review of Relationship Marketing in relation to customer satisfaction, customer loyalty and technology. In this review, I will provide a brief orientation of relationship marketing; identify the benefits of relationship marketing for companies and customers and critically analyse the concept of RM with regards to customer satisfaction, customer loyalty and analyse the role of technology in relationship marketing. Leahy (2011:651) defined relationship marketing as “attracting and keeping customers for a long period of time”. RM is used by firms to change consumer attitudes and increase the frequency of purchase in a business using marketing techniques such as promotions and advertising. According to Ndubisi and Chan (2005), relationship marketing provides an organisation the opportunity to get access to the right information about their customers, meet the customers’ needs effectively, efficiently and gain competitive advantage.
Marketing also involves analyzing customer needs, securing information needed to design and produce goods or services that match buyer expectations, and creating and maintaining relationships with customers and suppliers. Marketing is essential to the success of any business. Its primary aim is to enable businesses to meet the needs of their customers and potential customers, whether then it’s for profit or not. To make my strategy successful for business it must: Ø Understand customer needs Ø Understand and keep ahead of competition Ø Communicate effectively with its customers to satisfy customer expectations. Ø Coordinate its functions to achieve marketing aims Ø Be aware of constraints on marketing activities I will also be considering the importance of developing and maintaining a relationship with its customers, potential customers and other stakeholders.
No matter howbig or small your company may be,building loyalty with a retailer’s most valued customers is one of the most important things.With the help ofCustomer Relationships managements (CRM), many organizations are able to build customers loyalty for long term business success. In this paper, I will be addressing the definition of CRM, how has it changed from the past and what causes these change. While giving examples of successful companiesthat use customer relationships management system to improve their organization and keep their customer satisfied. Before CRM system was applied, relationshipmarketing was used in most of the organizations. It is a marketing strategy where organizationsfocus onbuilding and developing relationship with customer and delivering ongoing quality products and services in order to increase their profit.
This essay is a critical 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 to change consumer attitudes and increase the frequency of purchase in a business using marketing techniques such as promotions and advertising. According to Ndubisi and Chan (2005), relationship marketing provides an organisation with the opportunity to think beforehand in order to get access to the right information about their customers, meet the customers’ needs effectively, efficiently and gain competitive advantage.
The key to success is to create strong and long term relationship with customer. CRM is an important tool to generate benefits for both customer and sellers. They treated every customer specially and try to get the appropriate information about the usage of their purchase which makes firms to increase their sales and also increase customer loyalty. Furthermore CRM also helps in making the sale processes very easy and simple which help sales staff to deal faster. There is great opportunity for the organization to cross selling and up selling to customers which are loyal to firms through CRM.
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.
This tendency motivates the customers to shop more straightforwardly, spend more money, and helping consumers to have a positive review about the organization thus increasing the organization competitiveness Loyal customers can act as key ambassadors for a particular brand or organization in the sense that they are more likely to recommend or purchase a product themselves. They often associate themselves to the organization in believing in their products and the superiority of their products. It is usually seen that loyal consumers are often willingly buying any products that their preferred organisations release. This proves that loyal consumers provide a key security for organisations as they know that their loyal consumers will stand by