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Essay / Research Paper Abstract
A 16 page paper discussing the value of customer relationship management; implementation; measurement; and evaluation. The bottom line in making the shift from traditional to customer-targeted marketing lies in focusing on customers' true needs – rather than those assumed by the organization – and then aligning business processes and products to serve the needs of the customer, rather than serving the needs of the company first. CRM provides the tools to identify and differentiate customers, and then measure the results of strategies intended to enhance customer value, customer profitability and customer retention. When done well, CRM creates a win-win scenario for both the organization and the customer. Bibliography lists 14 sources.
Page Count:
16 pages (~225 words per page)
File: CC6_KSmktgCusFoc.rtf
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Unformatted sample text from the term paper:
discipline devoted much time and energy to developing what would come to be known as the marketing mix, the four "Ps" of marketing that have guided marketing efforts for years.
Changing environments and changing markets have led to the need to know more about customers than the traditional marketing mix approach can provide. There are other qualities that
need to be included in a customer-targeted approach, but likely the leading one is customer satisfaction. Influence of the Marketing Mix Chan (n.d.)
states that the marketing mix - the 4 Ps - "has been criticized for being too myopic in this current market situation." With its focus on product, place, price
and promotion, the customer is secondary and all efforts are trained on altering and managing the 4 Ps in such a way that the marketer can generate more customer interest
and activity, thereby gaining market share. Though customers certainly are involved in this approach, they are not the marketers primary focus. Rather, the marketing mix is product-focused and
requires "an overly inward-looking strategy with regards to the organizations resources and capabilities in production matters" (Chan, n.d.) without regarding the needs and wants of customers.
Further, the marketing mix approach is far less effective in the electronic environment than it is in the local supermarket or Super Target store. Chan (n.d.)
states that the electronic environment has "has led customers to expect companies to market their products and services in ways that reflect more directly their individual needs." Customer Targeted Marketing
In this approach, the customer is the primary focus, rather than the product and its presentation, "which is the prime concern in traditional
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