As a result, marketers started seeking for ways to engage the customer toward their product based on strong relationships with a perspective on the long-term preference for the business. The main purpose of these relationships, also known as Relationship Marketing, is to build a marketing network, that consists of the company and its’ shareholders: custоmers, emplоyees, suppliеrs, distributоrs, retаilers, аd аgencies etc. or anyone of mutual profitable interest. (Kotler, 2009)
In other words, Relationship Marketing (RM) aims to unite client relationships, customer loyalty and brand value intro a successful strategy through two key tools: web technology and focus on customer. Based on this the businesses have the opportunity to build gradually trust and loyalty and achieve repeat purchases on their products. It has been proven that the customers who have already used the services of a company, tend to spend 33% more than the new ones and it’s six times less expensive to sell them a product. Furthermore, the chance for a repeat customer to recommend the purchased product or service to another consumer is a 107% greater. (Lake, 2014)
As it can be seen, this strategy is easy to implement, with greater chances of achieving higher rev...
... middle of paper ...
...osing customer value: integrating the value process and relationship marketing. British Journal of management, 12(2), pp.159--182.
Schultz, H. and Yang, D. (1997) Pour Your Heart Into It, Hyperion, New York.
Schultz, M. (2013). Starbucks Marketing Strategy … Making Social Media a Difference Maker. [online] Digital Spark Marketing. Available at: http://www.digitalsparkmarketing.com/creative-marketing/social-media/starbucks-marketing/ [Accessed 29 Apr. 2014].
Bedbury, S., and Fenichell, S. (2002) A New Brand World: Eight Principles for Achieving Brand Leadership in the 21st Century, Penguin Group.
Starbucks Coffee Company, (2014). About Us. [online] Available at: http://www.starbucks.com/aboutus/default.asp. [Accessed 29 Apr. 2014].
O'Malley L. and Tynan, C. (2001) "Reframing relationship marketing for consumer markets", Interactive Marketing Vol 2 No 3 pp 240 – 246.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Direct mail marketing is also referred to as direct response advertising. This is because it allows businesses and other organizations to communicate straight to customers using techniques like text messaging, interactive websites, display ads online, email campaigns, flyers, catalogs, letters, television commercials, outdoor ads, and newspaper and magazine ads that normally generate response. There are quite a few characteristics that determine direct marketing. First, generating a database that often contains other information that may be relevant from business to business is used in developing the database of target-marketed businesses.... [tags: Direct Response Advertising, Firm Strategy]
2192 words (6.3 pages)
- Digital Marketing White Paper There is no denying that the world is rapidly shifting from analogue to digital. According to the Pew Research Center, 84 percent of all adults in the U.S. are now online and nearly two-thirds of the population embraces smartphone technology. As we consume more and more digital content on a daily basis — on mobile phones, tablets, and computers — companies that do not embrace the trend in their marketing strategies will be left behind. Digital marketing (DM) — any form of marketing products or services that involves electronic devices — is now essential and should be standard practice for any business that wants to get its product in front of a targeted audienc... [tags: Marketing, Social media, Internet marketing]
1916 words (5.5 pages)
- 1.0 Why you need to be using direct email marketing for your brand. Consumer are constantly overwhelmed by sales emails, creating the risk that yours will get lost in the realm of the over flowing inbox. Despite that newsletters remain very popular amongst marketers, this is because it is extremely effective at honing in on your niche and has an extremely high conversion rate. For most organisations, email marketing is the most powerful for developing relationships with customers as part of e-CRM (Chaffed,2014?) giving businesses the power to reach customers in a place most people visit every day- their inbox.... [tags: Marketing, E-mail, Marketing research]
708 words (2 pages)
- The new marketing channels and tactics have largely been driven by the technological revolution. While these channels often use similar tactics to traditional channels, they tend to rely on digital technology in the delivery. Furthermore, the strategy used by new marketing channels adds more emphasis on the cultivation of relations after the potential customer has been turned into a paying customer. The strategy looks more like: ➢ Finding potential customers ➢ Creating a message to reach out to customers ➢ Finding the right channel of contact ➢ Converting the customer into a loyal customer ➢ Cultivating the relationship with the customers The new marketing channels emphasise the six Cs: co... [tags: Marketing, Internet marketing]
1646 words (4.7 pages)
- Expanding the use of digital marketing at ING Wholesale Banking, Germany (“ING Wholesale Germany”) Although ING-Group and particularly its German subsidiary ING-DiBa AG (“DiBa”), the retail and direct bank division of ING-Group, have been pioneers in terms of an effective usage of digital marketing, the knowledge and the efforts of its commercial banking division, ING Wholesale Germany (my employer), are still in its infancy. With ING Wholesale Germany’s initial focus on multinational corporations, they didn’t see the need to put a lot of efforts on marketing activities in the commercial banking area, least of all to put particular emphasis on digital media.... [tags: Bank, Marketing, Commercial bank, Finance]
1024 words (2.9 pages)
- E-marketing is virtually conducting marketing activities through interactive computer-aided systems. Indeed unheard about two decades ago, this sufficiently new field has interested lots of organizations around the world. Enormous multinational corporations, government agencies and other different enterprises have come to position e-marketing as an essential strategic tool. Nowadays many well-built huge companies such as IKEA link their Internet approaches to their more traditional marketing efforts, whereas some relatively new launched businesses as Amazon and Egg have selected for e-marketing approaches more or less exclusively, using all new tech tools as for instance ATMs, retail kiosks... [tags: Marketing]
2007 words (5.7 pages)
- Introduction According to Pendrith (2014), one of the main reasons businesses fail is due to the lack of a marketing program. Opening the doors to a business does not mean customers will be swarming to utilize the services or products of that business (Pendrith, 2014, para 8). GCC will face the same obstacles when it comes to marketing that every new business faces and GCC will need to create a strategy and implement a guiding plan to create a foothold in the market. Other types of companies may be able to create very broad marketing strategies and plans that can target many different types of customers or potential customers.... [tags: Marketing, Corporation, Marketing strategy, Golf]
1526 words (4.4 pages)
- Marketing Manager: Promoting Cartoonist A career is an occupation undertaken for a significant period of a person 's life and with opportunities for progress. It plays a significant role in a person’s life because it would be their career for the majority of a lifetime. For this reason, they must love what they do, because if they don’t, failure will take its toll. Beyond vitality, marketing managers plan programs to generate interest in products in services. Genuinely, when people see a big Dairy Queen poster in a Texas city, they are visualizing a product that derived from marketing management, therefore, it is extremely important to analyze the educational requirements, job respon... [tags: Business, Marketing, Marketing management]
1168 words (3.3 pages)
- Marketing Manager: Promoting Cartoonist A career is an occupation undertaken for a significant period of a person 's life and with opportunities for progress. It plays a significant role in a person’s life because it would be their career for the majority of a lifetime. For this reason, they must love what they do, because if they don’t, failure will take its toll. Beyond vitality, marketing managers plan programs to generate interest in products in services.... [tags: Business, Marketing, Marketing management]
1172 words (3.3 pages)
- Introduction Direct mail advertisers distribute marketing materials, such as coupons, flyers or samples, primarily through the US Postal Service (USPS) and occasionally through other commercial delivery services. Direct mail has historically provided a less-expensive alternative to traditional advertising outlets like television, radio and magazines. However, for decades, increased completion from digital advertising has threatened the industry. Consequently, the Direct Mail Advertising industry is expected to increase marginally at an annualized rate of 0.1% to $11.9 billion over the five years to 2016; which includes 1.1% projected growth in 2016 alone.... [tags: Advertising, Marketing, Mail]
1000 words (2.9 pages)