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0324536380_77280 - 10 CHAPTER Relationship Marketing and...

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Chapter Objectives Relationship Marketing and Customer Relationship Management (CRM) CHAPTER 10 1 2 4 7 8 Contrast transaction- based marketing with relationship-based marketing. Identify and explain the four basic elements of relationship marketing, as well as the importance of internal marketing. Identify the three basic levels of the relationship marketing continuum. Explain how firms can enhance customer satisfaction and how they build buyer-seller relationships. Explain CRM and the role of technology in building customer relationships. Describe the buyer-seller relationship in B2B marketing and identify the four types of business partnerships. Describe how B2B marketing incorporates national account selling, electronic data interchange and Web services, VMI, CPFaR, managing the supply chains, and creating alliances. Identify and evaluate the most common measurement and evaluation techniques within a relationship marketing program. 5 3 6
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CHAPTER 10 Relationship Marketing and (CRM) THE SHIFT FROM TRANSACTION-BASED MARKETING TO RELATIONSHIP MARKETING Transaction-based marketing Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties. Relationship marketing Development, growth, and maintenance of long- term, cost-effective relationships with individual customers, suppliers, employees, and other partners for mutual benefit. • Views customers as equal partners in transactions. • Encourages long-term relationships, repeat purchases, and multiple brand purchases from the firm. • Collaborative exchange between buyer and seller.
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CHAPTER 10 Relationship Marketing and (CRM) ELEMENTS OF RELATIONSHIP MARKETING • Firms build long-term relationships by gathering information about their customers, analyzing and using the data to modify the marketing mix, monitoring interactions with customers, and using knowledge of customers and their preferences to orient every part of the organization. INTERNAL MARKETING • Internal customers—employees or departments within the organization whose success depends on the work of other employees or departments. • Internal marketing—managerial actions that enable all organizational members to understand, accept, and fulfill their respective roles in implementing a marketing strategy.
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