Chapter:07
Topic :RM/CRM literature: A comparison with
the 30R approaches.
RM/CRM literature: A comparison with the 30R approaches.
To review everything being presented on RM/CRM in
the expanding number of publications and websites is simply not
feasible, not even if we limit ourselves to the English language. It is
especially difficult to separate the chaff from the wheat when we are
exposed to CRM in consultants, survey results presented in academic
journals and conferences, company success stories and the news
[Link]/CRM are given different meanings by different authors.
The influx and vitality of the current research and debate about relational issues,
although mostly fragmented and addressing special issues in terms of traditional
marketing management, has become an extra impetus to the evolution of my
approach. These sources have modified and broadened my understanding. The 30R
approach has received both praise and criticism. It has not been seriously
challenged, although some show indifference and some have expressed a negative
opinion, unfortunately without any tangible ideas on how to advance the field or
make improvements. My conviction to stick to the path laid out by the 30R approach
has been reinforced ‘ as time goes by.
TOPIC: A paradigm shift in marketing new
concept
⦿ Relationship Marketing As a Paradigm Shift
With the rapid changes in economic and business environment,
Berry (1982) recommended the American banking industry to adopt
a relational approach in marketing. He suggested that bank
marketing should shift the focus from product-marketing and
order-taking to a relational approach in marketing. The approach,
relationship banking, was termed as “attracting, maintaining, and
enhancing client relationships”
THE FUTURE OF RELATIONSHIP MARKETING
THE FUTURE OF RELATIONSHIP MARKETING
⦿ Relationship marketing is a modern concept. This concept focuses on
developing, maintaining and retaining long term relationship with
customers for the benefit of the organization. Relationship marketing is a
strategic concept which needs to be accepted throughout the organization
and key to the future financial success.
⦿ In the last couple of decades with the advent of information technology
and internet, the customer power is ever increasing and there is more
transparency. Customers do not just want mass produced goods, but they
want manufacturers to provide value which makes them delightful and
happy.
⦿ Customer satisfaction is beginning of relationship and future collaboration.
Integrated Customer Approach
⦿ The field of information technology is going to be ever changing and will
become more sophisticated. But the key focus will remain on the
relationship component by utilizing consumer experiences and ideas. As the
sophistication in product and services increase, the basis of differentiation
will reduce, thus customer experience and relationship will drive the value
of satisfaction.
⦿ Customer related innovation will be guided by interactive dialogue made
possible by newer internet technologies. The increased transparency can
benefit companies in many ways. The transparency can help companies
identify consumers with whom they would like to make long term
relationships and would be able to target them with precise and clear
communication.
⦿ New Technology and Relationship Marketing
⦿ Innovation and technology are ever evolving. The concept of search engine
optimization is the key to organization in the age of the internet. Blogs, video
clips, social networks, etc. play an increasing important role in relationship
marketing. These mediums are interactive in nature and help companies
maintain real time relationship with consumers.
⦿ Customer as Driving Force
⦿ The customers are going to be in the center of any strategy companies is going
to develop. If a particular customer is currently generating lower margin, but
has a great future potential than it makes more sense for the company to
develop strategies around that customer. A customer who is currently at high
margin and also has the potential of generating more margins would also be in
focus for the organization.
Topic name: Customer relationship
management(CRM) & 4p’s
CUSTOMER RELATIONSHIP MANAGEMENT(CRM)
⦿ Customer relationship management is a process in which a business or other
organization administers its interactions with customers, typically using data
analysis to study large amounts of information.
4P,S IN RELATIONSHIP MARKETING
4Ps
Product Price Place Promotion
Variety Channels
List price Advertising Personal
Quality Coverage
Discounts Selling
Design Location
Allowance Sales Promotion
Features Inventory Public Relations
credit terms
Packaging Services Transportation
Logistics
Topic: The value society and The network society
THE NETWORK SOCIETY
⦿ In the concept of the network society, the chief form of
power is control or influence over communication. This is
because connectivity and access to networks are essential to
the power of some social groups to impose their values and
goals on society-at-large and of others to resist their
denomination.
THE VALUE SOCIETY
⦿Values reflect our sense of right and wrong. They help us grow and develop. They help us
create the future we want. The decisions we make every day are a reflection of our
values.
⦿Relationship values reflect how we relate to other people in our life, such as friends,
family, teachers, managers, etc. Relationship values include openness, trust, generosity
and caring.
⦿Socialvalues reflect how we relate to society. Social values include justice, freedom,
respect, community, and responsibility.
⦿In today’s world, it may seem our society doesn’t practice many values. We have a rise in
discrimination, abuse of power, greed, etc. What are we leaving behind for our future
generations? Maybe it’s time society takes a hard look at its values.
Modernism and post modernism
Modernism and post modernism
Modernism: Modernism in the arts refers to the rejection of the
victorian eras traditions and the exploration of industrial age real
life issues, and combines a rejection of the past with
experimentation, Sometimes for political purposes.
⦿ Post-modernism: As it appeared in the 1970s is often linked with
the Philosophical movement post-structuralism, in which
philosophers such as Jacques Derrida proposed that structures
within a culture were artificial and could be deconstructed in
order to be analyzed.
COMPARISON OF MODERNISM AND POST MODERNISM
MODERNISM POST-MODERNISM
Adheres to Western hegemonic values Contests Western hegemonic values
Alienation Collective voices
Focus on the writer Focus on the reader
Unreliable narrator Ironic narrator
Focus on interiority Focus on exteriority
Rejection of realism Ambivalence towards realism
High-brow genres Mixing of high and low-brow genres
TOPIC : IMPORTANCE OF RELATIONSHIP
MARKETING
D
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•Low Advertisement Cost: A successful relationship marketing redces the
efforts on customer acquisition since it helps in retaining customers for
long-term. Thus, decreasing the advertisement cost.
•High-Profit Better Price: A satisfied customer tends to bargain less for the
prices and is ready to pay a fair price for the goods or services. This increases
the profit margin of the seller.
•Increase in Sales Volume: Enhanced customer experience means an easy
selling and cross-selling of goods or services to satisfied customers. This
ultimately increases sales volume.
• Creates Brand Image: A happy customer will promote the product or
service among their peers, relatives and the known ones. This word
of mouth creates a strong brand image of the organization.
• Customer Retention: Customer acquisition is not everything;
meeting the customer needs, creating value for the customers and
making them buy again and again is essential. All this is possible
through customer relationship marketing.
Gain a Competitive Edge: A loyal customer feels comfortable buying
goods or services from one single store rather than shopping around
at various places. This is an advantage for the organization over its
competitors.
Thanks to All