Relationship Marketing
Effective Strategies for Customer Retention in the Digital Age: A Comparison of Relationship Marketing Models
Few aspects of modern society have been left untouched by the Digital Revolution and the advances that have been made in mobile technologies. Phone books, which were still incredibly useful resources for many just a decade ago, are now almost laughably archaic wastes of paper; our phones themselves can make restaurant recommendations, find a doctor's phone number, and even perform these functions on their own with a simple voice command. Encyclopedias have gone much the same way, with an (over)abundance of information available on the Internet supplying enough variety to make up for, according to many perspectives, the increased need to verify reliability. The very way in which we receive and process information has been changed by such technologies, and this cannot help but be noticed and acted upon by those that depend on the human ability to process information.
It is perhaps not surprising, then, that one of the biggest changes that has occurred as part of the Digital Revolution is to be found in the field of marketing. Information processing is the mechanism by which marketing operates, and which marketers are always trying to engage in more efficient and effective ways. One of the major developments in the marketing arena over the past few decades has been the emergence of what is known as relationship marketing, which is a fundamental shift in the overall approach to marketing. In relationship marketing models, marketing strategies deal with customers over a full time span rather than in discrete moments.
This paper will examine two distinct relationship marketing models, allowing for a demonstration of the perspectives and roles that are common to the grand framework of relationship marketing generally, and which aspects are prone to individual definition and difference based on the specifics of the industry, organization, or situation in which the marketing strategy is being employed. A behavior oriented model, of which there...
Holistic Relationship Marketing Relationship Marketing Relationship marketing is one of the fastest growing research topics in business and marketing today. The premise of relationship marketing is very broad and includes or should include external and internal relationship building as a reciprocal factor for firm success. Successful relationship marketing, according to the literature, results in high productivity, high employee and customer satisfaction, low employee and customer attrition and ultimately high profitability and success.
Customer Retention Strategies Creating Exceptional Customer Service at Southwest Airlines Southwest Airlines continues to lead the airline industry in customer satisfaction because their business model puts customer satisfaction and maximizing customer experiences at its center. Their leadership of the industry on customer satisfaction measures has also been seen in the result of Consumer Reports studies as well (Consumer Reports, 2007). What sets this airline apart from others is the belief that customer
The communication system may be able to facilitate the transfer of information, but an essential component of a CRM system is the transfer of responsibility. Somebody at the company must be responsible for every customer issue that arises. This is the only way that the company can ensure that its customers' needs are truly being met. Because of this need for responsibility, it is essential that customer relationship management
It is a broader notion or the next evolutionary stage of client relationship management approach. A customer-centric organization is defined as the one, offering long-term constant and consistent best quality experience to clients 'over all customer access points; across all marketing, sales, and service programs; throughout all parts of the organization.' As can be clearly inferred from this definition, the product will vary over time to satisfy evolving clients needs,
Marketing Plan for a New Product Marketing Plan New Product Launch Background and Competitors Brite Briks is a multinational company in the business of manufacturing construction toys. Brite Briks ranks third in size with Lego leading this market, followed by Mega Bloks (Solomon, 2013). Both Legos and Mega Bloks are inter-competitors as the toy construction products they sell are very similar, and fundamentally compatible -- although the brick to block match is not
Marketing Plan for Swagster Swagster is a hybrid motorcycle cruiser that utilizes very little gas compared to the gas driven motorcycles. The cost of gas continues to increase, in most states in the United States in January 2011, the cost of gas is over $3.00 per gallon. According to the U.S. Energy Information (2011) the current cost for gas is about $90.30 per gallon which is high and it will continues
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