Chapter 01
Topics
❑ Relationship Marketing
❑ Customer Relationship Management (CRM)
❑ One to one Marketing
RELATIONSHIP MARKETING
Relationship marketing is a strategy designed to foster customer loyalty, interaction and
long-term engagement. It is designed to develop strong connections with customers by
providing them with information directly suited to their needs and interests and by
promoting open communication.
CUSTOMER RELATIONSHIP MANAGEMENT (CRM)
Customer relationship management (CRM) is the combination of practices, strategies and
technologies that companies use to manage and analyze customer interactions and data
throughout the customer lifecycle.
The goal is to improve customer service relationships and assist in customer retention and
drive sales growth.
ONE TO ONE MARKETING
One-to-one marketing is a customer relationship management strategy. It's centered around
personalized interactions with customers. Personalization creates greater customer loyalty. And
a better return on marketing efforts.
For example, the sales representative listens to the customer. Specifically, they listen to what the
customer needs and then propose services they can offer. Providers of both goods and services
may use this kind of CRM approach.
Topics:
1. Business is a network of Relationships
2. General properties of Relationships
Business is a network of Relationships
Business networking is the process of establishing a mutually beneficial relationship
with other business people and potential client and [Link] networking
benefits are the intangible gains made by communicating with other professionals in
or relating to your industry.
Business networking is a term that refers to meeting other business owners, potential
suppliers, or other professionals who have business experience –to help you grow your
business . Networking gives you a pool of experts that range from competotors to
clients, and allows you to offer something to them; hopefully in exchange for their
services, advice, knowledge, or contacts.
Types of business networking :
1. Business Seminars
2. Networking Groups
3. Professionals Associations
General Properties of Relationship
Six properties of relations we will study:
1. Reflexive
2. Irreflexive
3. Symmetric
4. Asymmetric
5. Antisymmetric
6. Transitive
TOPICS:
1. ROOTS OF RELATIONSHIPS MARKETING
2. THE EVOLUTION OF RELATIONSHIPS MARKETING
THE ROOTS OF RELATIONSHIPS MARKETING
THE EVOLUTION OF RELATIONSHIPS MARKETING
• The Beginning: Business Used Paper, Pen, Pad And A Filing System To Collect And Track Customer
Information–
• 1980:the Beginning Of Database Marketingbusinesses Could Now Analyze Customer Informationera
Of Personalized Communication Beganwith Computer’s Entering The Market, Spreadsheets Took Over–
• 1990:software Development Was Trendingsales Force Automation Was Kick-started.
• 1995: The Term Crm Came Into Existencelate 90’ Was The Evolution Of Mobile And Saasfirst Mobile
And Saas Product Entered The Market-
• 2000s: The Age Of Start-ups And Innovationcrm Matures To Incorporate All Business Interactions And
Processes On A Single Platformcloud Adoption Was Catching Up And Mobile CRM Was A
Revolutionsocial CRM Was Famous–
• 2010s: The Age Automation, AI, ML, Iot, Blockchaincrm Integration With BI Services & Communication
Systemsrobust CRM Designed For Various Industry Verticals, LOB, Sales Process Or Market
Focusimprovements In Data Analytics Reporting And Visual Dashboardsextensive Use Of AI And ML.
Principle of relationship marketing
1)Attack the right customers for the right reasons
90% of loyalty problems can be traced to the sales [Link] sure your tragedy and tactics are
designed to attract heavy category users for the right reasons. Sell your [Link]'t coerce with a bribe.
2) The most crucial time is the beginning
Buying your product or service does not mean they have a relationship with [Link] interest in your
product is high, and they are willing to [Link] them. Let them know, through words and
deeds, that you value their business
3) In established relationships continually reinforce the decision to buy
The most important purchase isn’t the first, it’s the second. Reinforce how smart they are for buying
your product. Give them every reason to buy from you again. But keep the plaid jacket at home. Talk to
them like you have a relationship, not like some sales guy trying to make his numbers.
4) Good customers expect to be rewarded
This isn’t saying that every customer gets a prize. Understand who your best customers are, the 20% of
your customers who generate 80% of your revenue, and reward them. Surprise them. Delight them.
Make them customers for life.
5) The second most crucial time is when the relationship is at risk
This isn’t for every customer,for your best customers take the time to really understand what went
wrong and then do something tangible to address their concern. Don’t take the relationship for
granted. Whatever went wrong used up some relationship equity. You need to earn it back.
The fundamental value of relationship marketing
1)Marketing management should be breakdance into marketing oriented company management.
2)Long term collaboration and win win situation.
3)All parties should be active and take responsibility.
4)Relationship and service value instead of bureaucratic legal value.
Topic: The Domain of Relationship Marketing
Six Domain of Relationship Marketing
1. Customer Market: Customer Market contain buyer intermediate
final customer and retailers.
2. Referral Market: Referral marketing is when we buy something after
being referred by some [Link] word of mouth.
3. Internal Market: Internal Market is to maintain a long term
relationship with the employees of the company.
Six Domain of Relationship Marketing
4. Influence market: Influence market includes all those parties which
can influence our current customers or prospect customer.
Ex: Tv Reporters, News Channels, Analyst etc.
5. Channel Market: Distributors, suppliers, retailers are of utmost
importance to any organization.
Ex.e commerce.
6. Recruitment Market: Helps an organization employee right people
for the right job. The employees should share the organizations core
values
TOPIC:
TRANSACTIONAL MARKETING VS RELATIONSHIP
MARKETING
N E T W O R K S I S A C O M M O N T E R M I N R E L AT I O N S H I P M A R K E T I N G W H I C H I S A
B U S I N E S S M O D E L T H AT D E P E N D S O N P E R S O N - TO - P E R S O N S A L E S BY
I N D E P E N D E N T R E P R E S E N TAT I V E S , O F T E N W O R K I N G F R O M H O M E . A N E T W O R K
M A R K E T I N G B U S I N E S S M AY R EQ U I R E YO U TO B U I L D A N E T W O R K O F
B U S I N E S S PA R T N E R S O R S A L E S P E O P L E TO A S S I S T W I T H L E A D G E N E R AT I O N
AND CLOSING SALES.
WHAT IS INTERACTION?
I n t e r a c t i o n I n R e l a t i o n s h i p M a r k e t i n g R e f e r s To T h e
Interaction Between Market Forces Of Supply And
Demand. The Market Is An Economic System, Which
Determines The Price And Quantity Of A Good Supplied.
A Market Consists Of Buyers And Sellers Of A
Commodity. Manufactures, Retailer s, Distributors And
End-users All Constitute A Market’s Participant Matrix.