|Originally, these 4R's were taught in CCT322 several years ago based on material in a textbook titled "Marketing, 10th Edition" written by Prof. Montrose Sommers, Ryerson University|
Relationship Management" has become necessary in a very competitive marketplace
were people all over the world are trying to take your customers by offering
a lower price, or more features - this becomes difficult though since the
technological environment and the economic environment becomes more globalized.
When the technological environment and the economic environment becomes more globalized it means that the distinguishing features between company's products is less and less - so, how do you get someone to buy your stuff - the answer is to have a relationship with the customer.
Having a relationship with
the customer is considered valuable since you can learn things to increasingly
provide better service, and it also leads to CLV, as well as cross-selling
and up-selling opportunities.
with customers in the selling process
H. in CCT322 and MGD415 at UTM in Feb 2010 emailed to narrate about his
experience with "relationships" in marketing.
I used to work at Best Buy (Computers Section) and the most important thing that the company is structured on is building a powerful RELATIONSHIPS with our customers and being able to connect with them as well. I think thats really how Best Buy has such a strong retention and recovery basis.
Basically when meeting the customer, we were basically taught to connect with them at a psychological level: Make them feel that we were their friends, rather than sales men. So basically start off by asking lifestyle questions: "So your studying business at York? I'm doing the same program at U.T.M ..."
The idea here is to get a very strong relation with your customer that he/she begins to listen to every word you say (influence, if you will).
"So I know you'll be doing a lot with numbers so make sure you grab a 4GB memory computers; its going to get you more speed when you have all those assignments due ..."
Sometimes, you connect so well with the customer that your able to convince him to buy more products/Services on the side (Mouse, bags, locks, 'set up services', 'warranties', etc). Thats basically how Best Buy is able to have such a strong client base while selling everything for full price, unlike futureshop that is profitable from its ability to discount.
( witiger.com/ecommerce/BusinessContinuity.htm )
When things go wrong - how do you recover consumer confidence so that they will again buy your product
Management as a part of
of Marketing Thinking
Customer Focus (Marketing Orientation)
service/consulting_services/ does not work in 2010
|Some of the material on this page originally came from a textbook written by Prof. Montrose Sommers, Ryerson University||"Marketing, 10th Edition"|