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Essay / Research Paper Abstract
A 6 page paper primarily focusing on relationship marketing and then relating that to the global wine industry with emphasis on New World winemakers, including those in Australia. Internationally, sales of premium wines are increasing while sales of jug wines have plummeted. This constitutes favorable change for producers of premium wines, but only if these producers make the most effective use of the changes currently underway. Integrating CRM practices that focus on consumers rather than IT holds promise for these producers. Bibliography lists 10 sources.
Page Count:
6 pages (~225 words per page)
File: CC6_KSmktgWineInd.rtf
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Unformatted sample text from the term paper:
wine industry has been steeped in mystique and tradition; those seeking to break with tradition often have been seen as mavericks seeking to adulterate a process and product considered nearly
holy by devotees. Customer relationship management (CRM) has not played a great part in the past, likely because of its association with information technology (IT) and wine productions association
with age-old production practices and tradition. There is a place for CRM in the global wine industry, however. Relationship Marketing Customer value
is defined as the value that a company can gain from customers over time. The organization does and should seek to gain repeat sales from customers, regardless of its
product or service. Indeed, it was in 1960 that Harvards Theodore Levitt created the question, "What business are we in?" in "Marketing Myopia" when telling managers that the first
purpose of any company is to get - and then keep - a customer, that growth and profitability would follow when priorities are in their proper order. The point
that business needs to gain from this time-honored advice is that it develops and continually improves its knowledge of customer wishes, what is of value to them and what it
is that they are most willing to purchase. Buttle (2004) states that relationship marketing is CRM without the technology component and without "the
management of relationships with other members of the business network: the partners, employees, suppliers." Another author refers to customer value as competitive advantage. "Instead of just promoting our
brand or product or service to a customer segment, our goal is to find out what each customer wants and needs, and then to set up what we offer a
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