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Essay / Research Paper Abstract
A 6 page paper answering four questions about customer relationships. Questions include as topics customer value; six buyer-readiness stages; and three steps in building customer relationships. Another question asks which is preferable: sound strategy with poor implementation or mediocre strategy with excellent implementation. The paper maintains that excellent strategy is always preferable, that implementation is much easier to change and risks less loss of market share. Bibliography lists 8 sources.
Page Count:
6 pages (~225 words per page)
File: CC6_KSmktCRMmgmt.rtf
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Unformatted sample text from the term paper:
How are customer value and relationship marketing linked? 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. Detroit learned this lesson during the international oil crisis of 1973-74 when car buyers not only desired but insisted on fuel economy. The feature had been a
customer desire for some time; in the early 1970s that desire moved into the realm of demand. Japanese companies provided that feature in vehicles that also offered high quality
and low price. Detroit suffered for more than a decade as it first clung to denial and then scrambled to meet customer demands. The "big three" lost customer
value and had to virtually begin all over again. 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
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