Relationshop Marketing
RM (I will pass)RM definition – attracting, maintaining, and enhancing customer relationships.CPV – customer perceived value – success of product is largely based on whether believer it can satisfy their needs.Total relationship marketing – is marketing based on relationships networks and interactions. It is directed to long term win-win relationships with individual customers.Traditional marketing management – 4P (product, price, place, promotion)Service marketing – has put the fact that modern economics are largely service based- it underlies interaction between customers and suppliers and between the customers in the service encounter.Exclusive organization – it excludes customers and others who not employed.Inclusive organization – it embraces customers and others.Traditional management – one-off exchanges, brand management, short-term focus, mass communications, market share.Relationship marketing – Ongoing exchanges, customer management, long-term focus, personal communications, share of customer.Transactional marketing – Orientation to single sales, focus on product features value, short time scale, little emphasis on customer service.
Mass marketing – average customer, mass production, all customers, share of market, mass distributionOne to one marketing – Individual customer, customized production, profitable customer, share of customer, individualized distribution.IN RM WE HAVETo identifyTo establishTo developTo maintainTo enhanceTo measure (CLV, ROR)Purchasing cycle Awareness->Interest->evaluation->trial->adoption->repeat purchaseValueValue may be created by:Operational excellence (low cost, lean production, reliable service, dominating market share)Product leadership (best product, market niche creation, innovations)Custom intimacy (personalized offerings, strong relationships with customer)Typology of value FunctionalBrandService valueRelationship valueSocial valuePersonal valueMarketing process Market analysis:Environment analysis – (PESTEL)Customer aynalysis Competition analysisSWOTMarketing strategy (STP)SegmentationTargetingPositioningMarketing tactics (7P)Place, Price, Product, Promotion, People, Process, Physical evidenceDatabase marketingFocus to information and economic transactions. Parties involved : Firm and buyer in the specific market. Communication : firm to individual. Duration : discrete and over time. Power: Active seller less passive buyer.