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  • Essay / Marketing MA Management and International Business

    Marketing MA Management and International BusinessIntroductionCRM is a term for e-commerce methodologies, technologies and capabilities - used by businesses to manage customer relationships. (Foss, 2001: 1) It is also called customer management. , customer service and sometimes customer orientation or customer-centered management. (Brown, 2000: 1) All the names and definitions of CRM have the customer at their core: it is customer relationship management, which attempts to revolutionize marketing and reshape entire business models. To survive and grow, the business must make a profit. To make a profit, he must find people willing to pay more for his products/services than they cost. So the profit comes from the customers. All profits come from customers. So if no profit = no business and no customers = no profit, then no customers = no business. Therefore, the customers ARE the business. The idea of ​​CRM is not new - it was the way the local trader treated his customer - he knew him. , knew what was going on in his life, what he was buying, (personalized marketing?), etc. What's new is that today retailers are trying to establish a dialogue with tens of thousands, even millions of customers to try to better understand them, their individual needs and maximize the lifetime value of that relationship. In this respect, it is not a marketing “revolution”, but rather an “evolution”. The old business model is back, but armed with technology and different schemes to reach the customer and retain them for life. The four types of CRM programs, described by Stanley (2000), aim to enable the company to win back customers, who have People who have defected or are considering (regain or save) retain customers (retail loyalty ), to upsell or cross-sell services to these customers (cross-selling/upselling) and to prospect new customers (prospecting). "Loyalty is a feeling or attitude of devoted attachment and affection; or the act of binding oneself (intellectually or emotionally) to a course of action. (http://dictionary.reference.com) In everyday life, loyalty implies emotional commitment to family and friends, fidelity in marriage It also suggests monogamy - a choice above all others (Humby et.al, 2003: 9. ) In this sense, loyalty is something expected...a customer, always a customer” Dublin: OakTree PressFoss, B., Stone, M., (2001) “Successful Customer RelationshipMarketing” London: Kogan PageGilbert , D., (1999) “Retail Marketing Management” Harlow: FT/PitmanHumby, C. et al., (2003) “Scoring Points” London: Kogan PageOliver R. (1997) “Research” New York: McGraw HillOmar, O (1999) “Retail Marketing” London: FT Management Reichheld, R. (1996) “The Quest for Loyalty” Boston: Harvard BusinessSchool Press Daley, J (2004) “Is a toaster a fair trade for your loyalty as a buyer? The Independent (http://proquest.umi.com)Davis, H. (2002) “Marketing is all about the intellectual use of data”Loyalty GuideJones, K (2002) “Are you harnessing the potential of your customers? Loyalty Guide http://www.at1.uk.com/Loyalty_Fundamentals.htmwww.bbc.co.uk/cgi-bin/search/results. asda+loyalty+schemewww.foodanddrinkeurope.com/news/news- -loyalty-cardshttp://www.mori.com/polls/2002/blacksun.shtml 2002)http://money.guardian.co.uk/(Datamonitor report by E.Ripley)www.mori.comhttp://news.bbc.co.uk/1/hi/business/52056.stmCross J. (2004) Lecture notes Southampton, University College