Relating more deeply and interactively by incorporating more interactive two

Relating more deeply and interactively by

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Relating more deeply and interactively by incorporating more interactive two way relationships through blogs, Websites, online communities and social networks Club Memberships: Harley Davidson The Changing Nature of Customer Relationships
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Building Customer Relationships Partner relationship management involves working closely with partners in other company departments and outside the company to jointly bring greater value to customers
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Building Customer Relationships Partners inside the company is every function area interacting with customers Electronically Cross-functional teams Partners outside the company is how marketers connect with their suppliers, channel partners (Supply Chain), and competitors by developing partnerships Partner Relationship Management
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Capturing Value from Customers Customer lifetime value is the value of the entire stream of purchases that the customer would make over a lifetime of patronage Creating Customer Loyalty and Retention
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Capturing Value from Customers Share of customer is the portion of the customer’s purchasing that a company gets in its product categories (E.g. Amazon) Customer equity is the total combined customer lifetime values of all of the company’s customers. It focuses on the future of the company, while market share talks of the past or present (E.g. Cadillac’s old purchasers and BMW’s young purchasers) Growing Share of Customer
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Capturing Value from Customers Building the right relationships with the right customers involves treating customers as assets that need to be managed and maximized Different types of customers require different relationship management strategies Build the right relationship with the right customers Building Customer Equity
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The New Marketing Landscape Digital age Rapid globalization Ethics and social responsibility Not-for-profit marketing Major Developments
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Group Activity – Marks:10 (Assignment 1) Think about a need or want you have that is not adequately met currently in the marketplace. Think about a product or service that will satisfy that need or want. What will be your value proposition? A single unique method to build strong customer relationships?
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