However at the same time that the new technologies create relationship building

However at the same time that the new technologies

This preview shows page 12 - 15 out of 21 pages.

-However, at the same time that the new technologies create relationship- building opportunities for marketers, they also create challenges. They give consumers greater power and control. Today’s consumers have more information about brands than ever before, and they have a wealth of platforms for airing and sharing their brand views with other consumers. Thus, the marketing world is now embracing not only customer relationship management, but also customer-managed relationships . Customer-managed relationships Marketing relationships in which customers, empowered by today’s new
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digital technologies, interact with companies and with each other to shape their relationships with brands. -Greater consumer control means that, in building customer relationships, companies can no longer rely on marketing by intrusion . Instead, marketers must practise marketing by attraction —creating market offerings and messages that involve consumers rather than interrupt them. Hence most marketers now augment their mass-media marketing efforts with a rich mix of direct marketing approaches that promote brand–consumer interaction. Consumer-Generated Marketing Consumer-generated marketing Brand exchanges created by consumers themselves—both invited and uninvited—through which consumers are playing an increasing role in shaping their own brand experiences and those of other consumers. Partner Relationship Management When it comes to creating customer value and building strong customer relationships, today’s marketers know that they can’t go it alone. They must work closely with a variety of marketing partners. In addition to being good at customer relationship management, marketers must also be good at partner relationship management . Major changes are occurring in how marketers partner with others inside and outside the company to jointly bring more value to customers. Partner relationship management Working closely with partners in other company departments and outside the company to jointly bring more value to customers. Partners Inside the Company Traditionally, marketers have been charged with understanding customers and representing customer needs to different company departments. The old thinking was that marketing is done only by marketing, sales, and customer support people. However, in today’s more connected world, every functional area can interact with customers, especially electronically. The new thinking is that—no matter what your job is in a company—you must understand marketing and be customer focused. David Packard, the late co-founder of HP, wisely said, “Marketing is far too important to be left only to the marketing department.” 26 Marketing Partners Outside the Firm
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Through supply chain management , many companies today are strengthening their connections with partners all along the supply chain. They know that their fortunes rest not just on how well they perform. Success at building customer relationships also rests on how well their entire supply chain performs against competitors’ supply chains.
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  • Winter '16
  • Simon P. Sigué
  • Marketing

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