How does relationship marketing primarily differ from traditional marketing?

It focuses on long-term customer engagement rather than short-term sales.

It emphasizes mass advertising over personalized communication.

It prioritizes product features over customer relationships.

It relies solely on digital marketing channels.

In the context of CRM, what role does relationship marketing play?

It enhances customer interaction and retention strategies.

It focuses only on new customer acquisition.

It replaces the need for data analysis in CRM.

It limits communication to one-way marketing messages.

What is a primary benefit of relationship marketing in comparison to traditional marketing?

It fosters customer loyalty and repeat business.

It guarantees immediate increase in sales revenue.

It focuses exclusively on product promotion.

It eliminates the need for customer feedback.

Which of the following best illustrates a key strategy of relationship marketing?

Developing personalized communication and offers for customers.

Creating generic email campaigns for all customers.

Running nationwide television advertisements.

Focusing on the product's price above all else.

How does relationship marketing contribute to the effectiveness of CRM systems?

By providing insights into customer preferences and behaviors.

By solely tracking sales metrics and profits.

By minimizing customer interactions.

By focusing on product development exclusively.

Which element is essential for the success of relationship marketing within a CRM framework?

Consistent and meaningful communication with customers.

Strictly following product pricing strategies.

Limiting customer service interactions.

High-volume advertising campaigns.

What is one key difference in the goals of relationship marketing versus traditional marketing?

Relationship marketing aims to build long-term relationships, while traditional marketing often seeks immediate sales results.

Both strategies focus solely on increasing brand awareness.

Traditional marketing is always more cost-effective than relationship marketing.

Relationship marketing only targets new customers, unlike traditional marketing.

How does the use of CRM enhance relationship marketing strategies?

By providing detailed customer data to tailor marketing efforts.

It eliminates the need for personal customer interactions.

It primarily focuses on tracking competitor actions.

It allows for random selection of customers for promotions.

What is a primary focus of relationship marketing that distinguishes it from traditional marketing?

Building and maintaining customer relationships over time.

Reducing marketing efforts after the initial sale.

Maximizing short-term sales through promotions.

Concentrating only on attracting new customers.

Relationship Marketing

Benefits to consumers of relationship marketing

Adding Value within Relationship Marketing

Define what marketing is; · Explain the concept of exchange; · Explain the marketing gaps that exist; · Describe the marketing activities; · Discuss the four main marketing orientations; · Discuss the importance of relationship marketing; · Explain the marketing process; Theme 2: The Marketing functions in an organisation · Discuss the marketing function in an organisation; · Describe the various other functions within an organisation; · Explain the management tasks in marketing; Theme 3: Strategic Marketing Management · Explain the concept of strategic marketing management.

Micromarketing is an advertising strategy that allows a corporation to target a niche group with a particular product or service. With micromarketing, a company defines an audience by a specific trait, such as gender or job title or age range, and then creates campaigns geared toward that specific group. Macro-marketing is a multidisciplinary domain that deals with the impact that marketing has on the economy and society. It specializes in marketing-society interrelationships, such as green marketing, fairness and ethics, social management, market control, consumer conduct, and others. Customer relations refers to the methods, strategies, and processes a company uses to build and maintain customer relationships. Every customer interaction has an impact, and it's more important than ever for companies to consistently meet expectations.s PRODUCT DEVELOPMENT is strategy involves the improvement of current products or services or the development of the new products with the purpose of increasing sales. MARKET DEVELOPMENT is a strategy involves the introduction of existing products or services into a new geographical area or market. STRATEGIC PLANNING a broad process that can address the entire business, or a portion of the business. PLANNING the process of predicting future events and conditions and of determining the best way to attain the goals and objectives of the organization. CUSTOMER VALUE relationship between benefits and the costs including money, stress, and time to sacrifice that is necessary to get those benefits. POLITENESS Saying ”hello”, good afternoon sir/ma’am, and thank you very much are a part of good customer services. PRODUCTION PROCESS it is the process must conform to standards in terms of product quality. RELATIONSHIP MARKETING involves creating, maintaining and enhancing strong relationships with customers and other stakeholders. KEY PERFORMANCE INDICATOR a tool used to check the marketing activities and to track performance to make sure the company is on track to meet specific objectives. REACTIVE salesperson sells the product and encourage the customer to call whenever he or she has any questions or problems. MARKET PENETRATION the objective of this strategy is to increase market share of current products or services in current markets through greater and more intensive marketing efforts. LIQUIDATION this involves selling all of a company’s assets, in parts or as a whole, for their tangible worth. PRICING TEST can be utilized by marketers to calculate a product’s or service’s optimal price, to determine price elasticity. POSITIONING the process of communicating the image of a brand into the minds of consumers. INDUSTRIES business organizations that purchase goods and services for the purpose of producing other products and services or for use in their products and operating processes.

Marketing customer relationship, customer percieved value and satisfaction. Types of customers , low margin and high margin, loyalty programs and club marketing

Customer relationship groups ( butterflies, barnacles, true friends, and strangers) , and customer equity in marketing

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