Chap018[1] - *Attracting New Customers Two Broad Marketing...

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Two Broad Marketing Objectives Two Broad Marketing Objectives *Attracting New Customers *Retaining Existing Customers *Customer Acquisition Can Be Costly *Customer Retention Deemed Superior Customer Retention Customer Retention *Basic Premise of Relationship Marketing *Seeking Long-Term Association *Cost of Customer Acquisition Estimated to be 6 Times that of the Cost of Taking the Steps Required to Keep an Existing Customer Satisfied Relationship Marketing Relationship Marketing *An Integrated Effort to Identify, Maintain, and Build a Network with Individual Consumers and to Continuously Strengthen the Network for the Mutual Benefit of Both Parties through Interactive, Individualized and Value-Added Contracts Over a Long Period of Time *Focus on Lifetime Customer Value (LCV) Twelve Applications of Twelve Applications of Relationship Marketing in Sports Relationship Marketing in Sports Clubs (1) Clubs (1) *Spectator Sports – Fan Club *New Zealand Cricket Fraternity *Participation Sports – Club for Players *PGA Tour Partners Club *SASS – Club for Users of Particular Brand *Storm Chasers (Storm Bowling Balls) Serial Marketing (2) Serial Marketing (2) *Spectator Sports – Giveaways
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Chap018[1] - *Attracting New Customers Two Broad Marketing...

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