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what are the major differences betwwen tracastionnased marketing and relationship marketing?
tracaction-based marketingg refers to buyer-seller exchanges involving limited communications and little or no ongoing relationships between the parties. Relationship marketing is the development and maintence of long-term, cost-effective relationship with individiual customers, suppliers, employees , and other partners for mutual bebfits
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what are the 4 basic elements of relationship marketing?
the four basic elements are database technology, database marketing, monitoring relationships, and customer relationship mangement (CRM)
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why is internal marketing important to a firm?
internal marketing enables all memebers f the organization to understand, acept, and fulfill thier respective roles in implementing a marketing strategy
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identify the three lvls of the marketing relationship?
the 3 lvls of the relationship marketing cintum are 1. foucus on price, 2 social interation,3 interdependent partnership
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which level is the most complicated? why?
the third lvl is most complex cuz the stegth of commitment between the parties grows
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how is customer satisfaction measured?
marketers monitor customer satisfaction through various methods of marketing research
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identify 2 ways that marketers may obtain customer feedback?
markets can include a toll-free phone number or websire address in thier advertising; monitor usenet, other online discussion grps, and blogs, and hire mystery shoppers to personally check on producks
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define customer relationship management
customer relationship management is the combination of strategies and technologoes that empowers relationship programs, reorienting the entire organization to a concentrated focus on satisfying customers
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what are the 2 major types of CRM systems?
the 2 mayor types of CRM system are purchased and customized
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describe 2 steps a firm can take to rejuvenate a lost relationship?
marketers can rejuvenate a lost relationship by changing the product mix if neceassy or changing some of thier process
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what are the 4 key types of business marketing partnership?
the four key types of business partnership are buyer, seller, internal, and lateral
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distinguish cobranding and comarketing
cobranding joins 2 strong brand names, perhaps owned by 2 different companies, to sell a product. in a comarketing effort, 2 organizations join to sell thier products in an allied marketing campaign
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what are the benefits of effective supply chain management?
managing the supply chain provides increased innovations, decreased costs, conflict resolution, and improved communication.
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define the term lifetime value of a customer
in the lifetime value of a customer, the revenues and intangible bebfits that a customer brings to the seller over an average life-time, less the amount the comapny must spend to acquire, market to, and service the customer, are calculated
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why are customer complaints valuable to evalutaing cistomer relationship programs?
customer complaints give the organization information about customer prorities so that managers can make to thier systems if necessary and set appropratie, measurable goals for relatioships programs
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