PRINCIPLES OF
MARKETING
WEEK 4
PREPARED BY: CATH-LYN F.
SUMALINAO
"My Favorite Brand"
Sharing (5–10 mins)
Instructions:
Name your favorite brand (e.g.,
food, clothing, gadget) and
explain:
•Why do you love this brand?
•How do they treat their
customers?
RELATIONSHIP
MARKETING AND
CUSTOMER
VALUE
RELATIONSHIP MARKETING
-is a marketing strategy that gives
primary importance to existing
customers. Its primary goal is to
retain current customers by
satisfying their needs and wants.
A business will be able to build a strong
relationship marketing with customers
by enhancing the following elements:
[Link] customer-oriented personnel
2. Adopting effective training programs
3. Promoting teamwork
4. Empowering employees
Business that Employs
Relationship Marketing
1. Common Direction with the Supplier
2. Relationship with the Supplier of Human
Resources
3. Retention of Employees
4. Favorable Relationship with Influential Segments
5. Coherent Activities of Units within the
Organization
Common Direction with the Supplier
-the relationship of the business
with the supplier will be more
beneficial to both parties if their
activities are directed toward the
common direction of satisfying the
needs of the final customers.
Relationship with the Supplier of
Human Resources
-maintaining a stronger relationship
marketing with the recruitment market
would provide a higher degree of
assurance that the human resources fit
to the requirements of the company in
terms of their qualifications, skills, and
expertise of the job.
Retention of Employees
-good relationship marketing
brings a stronger relationship with
the employees. A satisfied
workforce ordinarily stays with the
organization which results in a
lower employee turnover rate.
Favorable Relationship with Influential
Segments
-relationship marketing acts as the
thread connecting the business and
the influential segments. Influential
segments include the national and
local government units, regulatory
agencies, customer associations,
political groups, and trade
Coherent Activities of Units within the
Organization
-relationship marketing is directly
involved in aligning marketing,
operation, and customer service
by linking the various activities of
different units.
Mechanics in
Building Strong
Customer
Relationship
Mechanics in Building Strong
Customer Relationship
1. Establishing Business Credibility
2. Maintaining Customer Connection
3. Building Loyalty and Trust
Customer Value
- Refers to the benefits obtained by a
customer from goods or services in
exchange for the monetary value
being paid. It is the value and
benefits expected for a price that a
customer is willing to pay.
Customer Value can be
enhanced by Added
Value, Product Promotion,
and Business Utilization.
Added Value
- A product or service has customer
value when it offers added benefits.
Added Value
For example, a household rice cooker
does not simply cook rice for
breakfast but provides added value
by giving more time to perform
other tasks like laundry, washing
utensils, or other housekeeping
chores while cooking rice.
Product Promotion
-customer value proposition is
usually made known to a customer
when goods and services are
promoted.
Product Promotion
For example, when advertising a
detergent soap, the advertisement
does not deal plainly with how
effectively a detergent soap removes
dirt but includes the savings and the
new fragrance that the customer will
experience when using the product.
Business Utilization
-a business conducts a deeper and more
critical analysis of how a product or service
provides value to a customer. Business
utilization is about making the most of
your resources. A business that uses its
tools, people, and time wisely is more likely
to succeed.
THANK YOU!!!