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 distribution

One to one marketing – Individual customer, customized production, profitable customer, share of customer, individualized distribution.

IN RM WE HAVE

• To identify
• To establish
• To develop
• To maintain
• To enhance
• To measure (CLV, ROR)

Purchasing cycle

Awareness->Interest->evaluation->trial->adoption->repeat purchase

Value

Value 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

• Functional
• Brand
• Service value
• Relationship value
• Social value
• Personal value

Marketing process

1. Market analysis:

• Environment analysis – (PESTEL)
• Customer aynalysis
• Competition analysis
• SWOT

1. Marketing strategy (STP)

• Segmentation
• Targeting
• Positioning

1. Marketing tactics (7P)

Place, Price, Product, Promotion, People, Process, Physical evidence

Database marketing

Focus 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.