Marketing
Relationship marketing entails developing long-term commitment and brand loyalty. Customers who consistently receive communications and information from vendors will be more likely to continue doing business. If the customer is dissatisfied, these communications will allow all complaints to be voiced so that the vendor can effectively change the nature of the product or service. Fitting products and services to customer needs is an essential aspect of successful, profitable business operations. Through relationship marketing, businesses have the opportunity to keep abreast of customer opinions and discover ways in which they can change to meet the changing demands of the market. Relationship marketing also gives those companies that use it a competitive advantage over those that do not and therefore offers the opportunity to become an industry leader.
However, relationship marketing poses many challenges for companies. First, large corporations cannot afford to employ some of the techniques used in relationship marketing because of the enormous size of the potential new customer base. In the case of large corporations, mass marketing techniques must be used initially, to create brand awareness and alert consumers. Creating a database of customers is costly and time-consuming and would involve hiring many more customer service personnel as well as marketing directors to make sure that customers were indeed engaging in a "relationship" with the business over time. The difficulty with relationship marketing is that it can be more costly and involved than mass marketing and the payoffs often aren't visible for long periods of time. This, though, is the essence of relationship marketing: developing long-term customer relationships and commitments that last over time. Such long-term relationships may indeed prove more profitable than short-lived sales. Furthermore, having fewer long-term customers that are targeted through relationship marketing may prove cheaper than luring potential new customers constantly through mass marketing techniques.
The products were soon withdrawn from the market as they were a complete failure as customers found it inconvenient to have to constantly recharge the electric vehicles given the existence of such a few recharging locations. Also, the consumers were not ready to change their driving habits so drastically and in such a short period of time. Green marketing myopia can also appear when green products are not able to
(Accounts Payable Processing: BPM Outsourcing) for enhanced managerial competence and price decline, many companies are concentrating a lot on reducing costs and reforming operations. The crisis is mainly severe on non-revenue producing, but vital jobs like accounts payable and purchasing. Accounts payable and procuring processes are main operations, but they are usually regarded as important cost centers. Thus, making constant developments in the accounts payable and procuring departments is
Global Marketing -- Country Penetration Strategies Global Marketing Global marketing refers to the degree to which a business organization strategizes to operate in an international market in a competitive way. This paper focuses on the Country Penetration strategies that are formulated to ensure a potential entry and a sustainable future into a new international market (Lord & Ranft, 2000). The increasing trend towards Globalization has opened attractive opportunities for large-size organizations to
Paradox Marketing Implementation for Business Sustainability in Indonesian Telecommunication Company The study provides the analysis of paradox marketing strategy implementation for business sustainability for Indonesian telecommunication company using the Telkom as a center of investigation. The research objectives have been achieved and research questions answered using both the primary and secondary research. The secondary data are collected using a comprehensive literature review from various scholarly research articles. Moreover, comprehensive literature
A Refreshing Vision: Fizzy Fountain�s Unique ApproachExecutive Summary of Fizzy Fountain�s Business Plan1. Company Overview: Fizzy Fountain focuses on revolutionizing the fruit juice sector by combining health-centric options with carbonation. The goal is to offer innovative, convenient, personalized carbonated beverages, maintain natural fruit essences, and redefine industry standards in flavor, quality, and sustainability.2. Strategic Focus: The company aims to cater to a growing trend towards healthier beverage options, leveraging advancements
Sales Management & Strategic Marketing LO 1: Understand the Basic Principles of Sales ManagementWhat is sales management?Sales management refers to creating selling strategies, recruiting and training the sales team, and organizing the activities that aim to achieve the company�s sales target. Sales management is critical in helping the business create a superior sales force, minimize costs, develop a robust relationship among the team members and the consumers, and achieve the
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now