O the combined behavioural and attitudinal approach

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o The combined behavioural and attitudinal approach – this approach takes both attitudinal and behavioural aspects into consideration. Types of brands: o Manufacturer brands – products produced under a brand name identified with a specific manufacturer. Also called “national brands”. E.g. Yardley 26
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o Store brands – brands whose distribution and promotion are controlled by a particular store. Often cheaper than manufacturers’ brands. Also called “private brands” e.g. Red label by Edgars. Trends supporting the rise of store brands: Drop in consumer loyalty to manufacturer brands Better value for money offered by store-controlled brands Growing similarity of brands Growing knowledge among consumers that store brands are often the same as manufacturers’ brands Ongoing move towards impulse shopping and self-service Increasing willingness of retailers to support their brands by providing satisfaction guarantees, thus reducing consumer risk Increasing ability of giant retailers to promote their own brands. o Generic brands – no-name brands. Stages of store loyalty: o Store awareness o Store patronage o Store image – impressions of store in shopper’s mind o Store preference o Store habit o Store loyalty – based on product offerings, physical factors, psychological factors, aesthetic factors. 27
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Study unit 16 – Building relationships with customers Traditional marketing framework comprises: o Marketing mix, made up of the 4 Ps (Price, product, promotion, place) o Marketing forces – opportunities and threats that have an influence on the marketing operation of an organisation o Matching process – ensuring that the marketing mix and internal policies are appropriate to the market forces. Relationship marketing – the objectives of relationship marketing are to identify and establish, maintain and enhance, and, when necessary, terminate relationships with customers and other stakeholders, at a profit so that the objectives of all parties involved are met. This is done by mutual exchange and fulfilment of promises. Prerequisites for implementing CRM: o Teamwork and processes – relationship marketing requires teams to be more formal than informal and that they include the customer. Processes should also be changed to focus on the customer. o Support at executive level o Excellent customer service o Technology to gain customer knowledge and insight Ways in which technology contributes to building relationships with customers: o Enhancing customer care and service – e.g. using the internet to make reservations in hotels o Identifying the best customers – customers’ info is easily accessible on computer, so it could be used by marketers to determine the best people with whom to do business o Establishing the best product o Enhancing capabilities – e.g. providing computing and data warehousing o Managing cost value of relationship o Performing a control function – e.g. helping in tactical and strategic control o Customising products – e.g. helping the customer to make an input in the design of the product
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