Customer relationship marketing objectives and strategy

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customer relationship marketing objectives and strategy

Purpose: A firm's customer relationship marketing strategy also may affect its attitudinal loyalty toward its main supplier. Furthermore, environmental uncertainty. Insights had to be extracted or mined so actionable strategies could be Customer Relationship Marketing maximizes value and drives. •The objectives are: – Understand customer needs better. – Maintain long-term customer relationships. – Be able to pursue a strategy of Relationship. Marketing .

Insights reveal opportunities and challenges. Goals and objectives are developed as a first step in creating a marketing strategy that will address a specific opportunity or challenge.

Appropriate audience criteria is used to select certain consumers, then messaging, offers and other elements are assembled to achieve the established goals and objectives. This is particularly important when the consumer is experiencing challenges with the product or service.

Quickly resolving issues builds trust and it can improve customer satisfaction. By paying careful attention to positive and negative trends, organizations can use this feedback to make appropriate adjustments to product or service offerings, ensuring customer satisfaction. Customer Profitability — Relevant communications and offers motivate consumers to use the full complement of product and service offerings.

Because consumers understand the benefits of the offerings, they are typically more compliant and they remain customers for longer periods of time.

customer relationship marketing objectives and strategy

Customer Advocates — Consumers who are pleased and enjoy a consistent experience increasingly share this information with each other. Increasingly consumers are turning to each other for suggestions and recommendations.

It also takes a mindset -- it's not enough for you to have the customer data; the people working with it need to use that data to demonstrate that they care about the customer. Knowing customers is not about segmenting them correctly or matching upsells to their profiles, although those things are important.

customer relationship marketing objectives and strategy

It's really about demonstrating that, in a moment of truth for customers, you will work for their success because you understand them. Orient Your Processes Around the Customer Too many businesses have spent the last decade honing their internal processes with the mathematics of productivity as their primary driver.

There's nothing wrong with improving your efficiency -- as long as it doesn't come at the expense of the customer. If you've ever had to call your cable company, you probably have experienced a display of disregard for the customer: These are great examples of processes introduced solely to benefit the business.

However, today's much more savvy customers find these roadblocks to their happiness less and less tolerable. We now live in a connected world in which customers expect answers immediately. If your process requires something that delays what the customer wants or requires additional effort from your buyers, there had better be a significant benefit to the customer -- not the company.

5 Benefits of a Relationship Marketing Strategy

Give Employees the Power to Solve Problems The concept of the business as a single entity with many employees having access to a single view of the customer also shifts the customer's view of who can solve problems. In the past, it might have been tolerable to be shunted from person to person within the company to resolve an issue. Today, giving customers the runaround in this way would be almost quaint if it weren't so enormously frustrating. If I'm talking to you, and you can understand my problem as a customer, you should be able to fix it.

Why CRM is Important In Marketing - 4 Reasons

Many companies still have hierarchical structures that keep employees from being empowered to solve customer issues, and they also lack a process for escalating customer requests to the right person. Make an effort to enable more employees to provide solutions, and at the same time create a process and an ability within the organization to advance truly difficult customer issues to the right people rapidly.

5 Customer Relationship Objectives for the Growing Biz

Respect Customers' Time While Maximizing Your Productivity In business-to-business buying especially, the customer is under significant time pressure. That shouldn't come as a shock; the companies that sell to them are under the same pressures, which is why they seek to become more productive.

Somewhere along the way, however, what I call "corporate empathy" breaks down. In theory, the business facing the most internal time pressure should be the best at reacting to its customers' time pressures.

customer relationship marketing objectives and strategy

Moreover, effect of word of mouth WOM is much stronger than any other form of advertisement or promotion, so it is also possible that satisfied and loyal customers could be influencers for the brand. The biggest threat any businesses have is that customers could switch to its competitors but if an organization follows a relationship strategy their customers are less likely to switch to the competitors that will also create barriers for the competitors to enter into the market.

Customer Loyalty Because customer satisfaction will lead to customer loyalty and this is the most important objective of CRM, therefore this term should be focused and tried to evaluate.

Research on customer loyalty has been receiving a lot of opinions. However, for this study, we propose 3 criterions to be considered: Customer retention refers to actions that a selling organization undertakes in order to reduce customer defections.

Successful customer retention starts with the first contact an organization has with a customer and continues throughout the entire lifetime of a relationship.

  • 5 Customer Relationship Objectives for the Growing Biz

Brand Index Brand Equity — Brand value — Brand Reputation Some past studies tend to identify brand equity as a multidimensional construct consisting of brand loyalty, brand awareness, brand knowledge, customer satisfaction, perceived equity, brand associations, and other proprietary assets [Aaker, ],[Blackston, ],[Cobb-Walgren et al.

Besides, we also consider about Brand Value and Brand Reputation which show how strong the brand is and how it influent to customer. Those indexes are both measures that estimate what a brand is worth with customers. Word of mouth WOM: Word-of-mouth WOM has been understood in two ways, as an input into consumer decision-making and outcome of the purchase process. Positive WOM communication is a direct outcome of customer loyalty Srinivasan et al.

Other studies have also concluded in their respective studies that customers are more likely to engage in positive word of mouth Hagel and Armstrong and Dick and Basu About Apple Apple Inc.

The company designs, manufactures and markets personal computers and related personal computing, and mobile communication devices. It sells its products worldwide through its retail stores, online stores, and direct sales force and third-party cellular network carriers, wholesalers, retailers, and value-added resellers to the consumer, small and mid-sized business, education, enterprise, government and creative markets.

Founded inSamsung Electronics has grown into a global in- formation technology leader, managing more than subsidiaries around the world. Samsung aims to create a new future that positively impacts the entire global community.

customer relationship marketing objectives and strategy

Marketing performance Launched on June 29the first IPhone with biggest screen, hidden keyboard and especially touching screen, Apple has been a pioneer in providing customers a very unique product that customers want at the initial time when customers did not have much concept of the smartphone.

As reported by The NewYork Time, an Iphone is extending steadily beyond the computer into the broader realm of consumer electronics and digitally connected lifestyles and in the longer-term, the device probably will instigate a process of innovation and diversification. In this paper I would like to suggest 2 main reasons lead to the success of Apple to increase the customer loyalty are: Google strategy is focus on the quantity, which mean the more device run android the better. Google cooperates with other mobile phone manufactures such as Samsung, HTC and Sony in order to install the Android platform on those devices.

customer relationship marketing objectives and strategy

The main reason comes from the application approval process of Apple and Android. Android strategy is to get users installed as much as device possible so this process is much easier. According to John Mitchell there is no need to get approval by the Marketplace, once the developer clicks submit button the application will be uploaded on the store.

On the other hand, to publish an application on Appstore, developers must follow guideline of Apple. In addition the application must be tested and approved individually by Apple. By ensuring the consistency and quality check of all applications upload to Appstore, Apple is able to provide to customer the quality product with stability, be free of malware Sophos.

Other manufactures usually develop the product base on the market research to know what customer want, then providing a product can satisfy it. In contrast Apple not only relies on focus group but also the internal team. Steve Jobs asks his engineer who creates the product have to want it themselves — Tim Bajarin And the end of the day, they bring the satisfaction to their customers. Before Ipad was released, people wrote an email, browse Internet to enjoy photographs, video and books on their computer.

They need a device that can perform those entire tasks well but Steve provided a device also perform those task perfectly with ultra-portable. This is the reason why Apple store is built as a place that customer can come and experience the products. Apple employees need to advise customers how the apple product can bring more benefit and enrich their live. During the time at Apple store, the customers will be encouraged to touch and experience products by themselves.