Ensuring customer satisfaction with both the product and customer service is key to generating repeat business. It should be noted that achieving this objective is not solely the responsibility of the marketing team.
For a successful relationship marketing strategy, it is imperative to have work that is generative, prolific, and representative. Understanding the reason why customers seek such connections is crucial in establishing valuable relationships with them. The answer is simple: the continued relationship must provide additional value for the customer. This necessitates transforming information into satisfactory products which forms the foundation of any business - knowledge conversion.
The establishment of a successful customer-product relationship requires different treatment for customers compared to prospects. To effectively manage this relationship, commitment must be reciprocated leading to profitable sales, positive word-of-mouth promotion, and increased publicity. The adoption of Custom
...er Relationship Management (CRM) technology by businesses is evidence of their effort to prioritize customer satisfaction by integrating marketing, customer support, and other functions to create greater value in a dialogue between the provider and the customer. Instead of searching for buyers for their products, providers now focus on managing relationships to better understand customer needs and find products that best meet their requirements (Peppers and Rogers, 1993, 1997).
The focus of marketing communication has shifted from solely creating and maintaining brand awareness to a more customer-centric approach of continuously providing value. This is reflected in the holistic strategy of CRM, which encompasses marketing, customer service, and logistics to create a value-creation system for the customer.
The focus is on bringing the supply chain closer to the customer in order to better connect customer demands with supply management, design, production, packaging, transportation, and ultimately,
profitable exchange. This marks a departure from a departmental outlook. Technology captures and provides data on interaction history, delivering a consistent experience for valued customers across all touchpoints - including inquiries, orders, deliveries, maintenance, upgrades, and more. CRM systems can send customers reminders of necessary services and bespoke offers based on past transaction history and personal profiles. Customers can help themselves through the provider's website and access information related to products, billing, order status, and more.
The task of the marketing communications manager involves managing knowledge, automating marketing procedures, providing customer care, and sales force automation. It goes beyond mere promotional advertising design. Research has been conducted on how to implement a customer focus in companies since the late 1980s. Peppers and Rogers coined the term "customer-focused management" as relationship marketing or customer-relationship management (Peppers ; Rogers and Dorf, 1999). By using technology to gather and analyze individual customer information, firms can provide customized experiences. This method is referred to as "market orientation."
According to a group of researchers, customer orientation is a component of market orientation, which they define as a collection of cross-functional procedures and activities aimed at understanding and satisfying continuous customer demands (Narver, Slater, ; Tietje, 1998). Market orientation has since been subdivided into three elements: customer orientation, competition orientation, and inter-functional cooperation. All customer relationship management (CRM) solutions are essentially technological support that enables client-focused interactions and helps firms increase earnings from consumers. The service encounter is where client loyalty is won or lost. This is where advertising promises are kept or broken, and where consumer expectations are either met or disappointed.
The firm must bring all its assets together to handle
the challenges of producing and consuming a product in real-time while interacting with customers. Failure is inevitable and presenting value creation with the customer's satisfaction in mind prepares the firm for such situations. In case of failure, smart firms have recovery and knowledge management processes to learn from mistakes.
Ensuring the superiority of customer value has become increasingly important for firms as they focus on competing through services. With the core product being a product, and most auxiliary services becoming commoditized, a firm's competitiveness depends on how it treats its customers during every encounter.
Works Cited: Curry, J., Wurtz, W.
The following sources provide guidance on improving customer profitability and implementing one-to-one marketing:
- MSP Associates' "Customer Marketing - How to Improve the Profitability of Your Customer Base" by Peelen, Thys, and Zylstra (1998)
- Harvard Business Review's article "Is Your Company Ready for One-to-one Marketing?" by Peppers, Rogers, and Dorf (1999)
- Duncan's book "IMC: Using Advertising and Promotion to Build Brands" (2002) published by McGraw Hill in Boston, MA.The citation by John C. referencing Gummesson's Total Relationship Marketing book from 2000 suggests a rethinking of marketing management, shifting from the traditional 4Ps to the concept of 30Rs. The source comes from Butterworth Heinemann in Oxford.The following sources discuss the topic of marketing management and market orientation:
- Narver, Stanley Slater, and Brian Tietje's "Creating a Market Orientation" article in the Journal of Market-Focused Management (1998)
- Philip Kotler's Marketing Management textbook (2003)
- William Lazer's "The Systems Concept in the Evolution of Marketing Management" publication.
In 1962, the American Marketing Association Conference published Proceedings edited by C. Hindersman, titled "Marketing Precision and Executive Action". The
publication contained pages 115-120.
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