BK_Chapter010_Expanded

BK_Chapter010_Expanded - CHAPTER 10 Relationship Marketing...

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Explain how firms 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. Chapter Objectives Relationship Marketing and Customer Relationship Management (CRM) CHAPTER 10 1 2 5 8 9 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. 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. 6 3 7 4 0
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CHAPTER 10 Relationship Marketing and Customer Relationship Management (CRM) Transaction-based marketing Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties. • Focuses on short-term, onetime exchanges. Relationship marketing Development, growth, and maintenance of long- term, cost-effective relationships with individual customers, suppliers, employees, and other partners for mutual benefit. • Based on promises of low prices, high quality, prompt delivery, and superior service. 0
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CHAPTER 10 Relationship Marketing and Customer Relationship Management (CRM) THE SHIFT FROM TRANSACTION-BASED MARKETING TO RELATIONSHIP MARKETING • Shift away from production-oriented marketing. • Emphasis on individual sales and transactions. • Limited communication. • No ongoing relationship. • Still common in some markets, such as residential real estate. • Shift toward relationship marketing. • 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. 0
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CHAPTER 10 Relationship Marketing and Customer Relationship Management (CRM) Figure 10.1 Forms of Buyer–Seller Interactions from Conflict to Integration 0
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Relationship Marketing and Customer Relationship Management (CRM) • To summarize, relationship marketing: • Focuses on long term rather than short term. • Emphasizes retaining customers over making a sale. • Ranks customer service as a high priority. • Encourages frequent customer contact. • Fosters customer commitment with the firm. • Bases customer interactions on cooperation and trust. • Commits all employees top providing high-quality products.
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This note was uploaded on 05/24/2011 for the course MKT 327 taught by Professor Forest during the Spring '09 term at Michigan State University.

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BK_Chapter010_Expanded - CHAPTER 10 Relationship Marketing...

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