The customer is the king: Relationship marketing

Type :

Theses

Pages :

55 pages

Format :

.doc

Published date :

06/21/2009

Category :

Business & market

Sub category :

Marketing

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Summary :

An introduction to relationship marketing
Retailing- An overview
Key trends in retail industry
CRM and the retail industry
CRM in retail â€" Loyalty programs
Different levels of relationship
Tools to develop strong customer bounding
1. Create abiding relationships
2. Developing an action plan
3. Delivering customer value and satisfaction
Building relationship by connecting customers through call center
The Indian retail scenario
Data analysis and interpretation
Conclusion and recommedations
Bibliography

Abstract

Today it is the consumer who delivers the final verdict. The major application of relationship marketing is in industrial good markets and service markets. For relationship to start individual identifiable customers have to surface from the statistical mass of a target segment and for this to happen on a big scale technological transformation of the market place and the transaction are essential prerequisites. relationship marketing: Increasingly companies are moving away from a focus on individual transaction and towards a focus on building value-laden relationships with customers. In relationship marketing emphasis is placed on building longer term relationships with customers rather than on individual transactions. It involves understanding the customer's needs as they go through their life cycles.

The customer is king. This millennium comes with new dreams, hopes, and aspiration. It heralds the emergence of new business paradigms that will keep pace with a world rapid changing under the impact of development in InfoTech and communications technologies. It touches the lives of individual all over the world. With the growing competition in Indian economy, virtually every company finds itself struggling for survival today.

Today it is the consumer who delivers the final verdict. A consumer who is finicky about what he wants. An important development in the consumer market is the emergence of the newer younger consumer. This consumer is more open to trying new products but he is more demanding and fickle in terms of brand loyalty. I believe smart Companies across the country are no longer talking about product or service quality rather successful brand will need to establish more meaningful and intimate relationship and delight their customers.