Business-to-Business marketing

Size: px
Start display at page:

Download "Business-to-Business marketing"

Transcription

1 Business-to-Business marketing Business relationships & Customer relationship management (CRM) Antti Sihvonen

2 Agenda 1. Business relationships 2. Customer Relationship Management (CRM)

3 Business relationships

4 Business relationships Now we move from buying behavior into relationship behavior Business relationships are a central area of focus in B2B marketing Focus on relationships especially prominent among the researchers in the Nordic countries The terms Dyad, Dyadic, Industrial Marketing and Purchasing Group and IMP Group often indicate a relationship focus For example Managing Business Relationships by Ford & al focuses on interaction perspective

5 What is the focus? Supplier A Supplier D Supplier B Focal firm Customer Supplier E Interaction between two firms à interaction perspective Supplier C

6 The relationship spectrum Transactional Exchanges ANONYMOUS TRANSACTIONS/ AUTOMATED PURCHASING Value-added Exchanges Collaborative Exchanges COMPLETE COLLABORATION AND INTEGRATION OF SUPPLIER WITH CUSTOMER OR CHANNEL PARTNER

7 Why and when sellers want to build close relationships with buyers? Cumulative sales in business markets usually follow the typical 20/80 rule 20 percent of the customers provide 80 percent of the sales After identifying customers with high profit margins/ low cost-to-serve, a focal company should forge close relationships with them à Protects against competition! PERCENT AGE OF TOTAL PROFIT PERCENTAGE OF CUSTOMERS (ORDERED BY CUSTOMER PROFITABILITY)

8 Why and when buyers want to build close relationships with sellers? Transactional Exchanges AVAILABILITY OF ALTERNATIVES Collaborative Exchanges Many alternatives" Few alternatives" SUPPLY MARKET DYNAMISM Stable" Volatile" IMPORTANCE OF PURCHASE Low" High" COMPLEXITY OF PURCHASE Low" High" INFORMATION EXCHANGE Low" High" OPERATIONAL LINKAGES Limited" Extensive"

9 Interaction perspective to business relationships (1/3) Buyers and sellers craft different types of relationships in response to market conditions and characteristics of the purchasing situation Interaction focus: Sellers seek out buyers and influence them to buy Buyers also seek sellers that can and are prepared to meet their requirements à Both parties are active participants!

10 Interaction perspective to business relationships (2/3) Often in business markets, it is not a case of exchange but one of interaction. EXCHANGE Focal firm Exchange = The transfer of goods between unchanging entities (e.g. Products, services or money) Interaction = Transforming process that occurs between business actors Customer INTERACTION Focal firm Customer

11 Interaction perspective to business relationships (3/3) Characteristics of interaction The interaction process can be separated from the two actors (focal firm and customer) themselves Each actor has a view of how they wish to contribute and approach which they wish to take to the interaction Each actor has also a view what they want to gain from interaction EXCHANGE Focal firm Customer INTERACTION Focal firm Customer

12 Interaction perspective to business relationships (3/3) The process and outcome of interaction Interaction develops in a way that it is not fully controlled by any of the two Interaction changes what is contributed and received by both companies over time EXCHANGE Focal firm Customer INTERACTION Focal firm Customer

13 Interaction model of business relationships Used to describe a dyadic relationship using the following factors: 1. Variables describing the parties involved, both as organizations and individuals 2. Variables describing the elements and process of interaction 3. Variables describing the environment within which the interaction takes place 4. Variables describing the atmosphere affecting and affected by the interaction Enables explicating the different dimensions affecting the relationships

14 Development of business relationships: The stage based model 2. EXPLORATORY STAGE Investment of time for learning & distance reduction 1. PRE-RELATIONSHIP STAGE What we both get? How much Investment, adaptations? 3. DEVELOPMENT STAGE 4. STABLE STAGE Intensive mutual learning Trust building Routine and institutionalisation

15 Development of business relationships: 1. Pre-relationship & 2. exploratory stage 1. Pre-relationship Only limited experience on the other party, earlier relationships form a base for evaluation Level of uncertainty is high Wide distance 2. Exploratory stage There is still a lack of experience and routines Decreasing uncertainty Distance: So far only limited amount of social relationships Aim to diminish the cultural and geographical distance There may be technological mismatch Lack of commitment, external factors influence the development

16 Development of business relationships: 3. Development stage 3. Development stage Cooperation starts Increasing experience and understanding of norms and values Decreasing uncertainty Social and cultural distance has decreased because of multiple interactions and technological adaptations Commitment is manifested Official agreements Additional adaptations indicate commitment The frequency and character of contacts

17 Development of business relationships: 4. Stable stage 4. Stable stage (i.e. Institutionalisation) A remarkable experience of the partner Many kinds of common routines Uncertainty has disappeared. The relationship is institutionalized, which may create problems as well: The routines and practices followed by the buying and selling firms in the relationships become second nature or automatic with frequent use Positive: It can be efficient and enabling because the parties don t have to talk about the fine points Negative: When there is a need to change, it can be inefficient and disabling

18 The stage based model in use: Strenghts Customer relationships of a company may be in different stages, so they need different kind of management according to this. New customers: Need to evaluate the relationship that the potential customer has with competitive suppliers Interfering with the competitors customer relationships in the right moment Management of the portfolio of customer relationships instead of operative management of a single customer relationship

19 The stage based model in use: Weaknesses It is not a valid description of all relatioships but rather a generalization Many relationships are short-lived because of transaction orientation or lack of usefulness Managing relationships is not a linear process of progress A relationship may be more about coping

20 Customer Relationship Management (CRM)

21 Three levels of CRM 1) WHY" " Why should companies use CRM?" " 2) HOW" How could companies do CRM?" 3) TO WHOM?" " To whom should we do CRM programs?" "

22 Why CRM: Relationship marketing and CRM Relationship marketing centers on all activities directed towards establishing, developing, and maintaining successful exchanges with customers and other constituents. (Hutt & Speh, 2010, pp. 61) WHY: 1. Loyal customers are more profitable 2. Shielding relationships from competition 3. Acquisition vs. retention costs

23 Why CRM: CRM continuum and the centrality of CRM CRM can be approached from many different angles with varying degrees of importance Payne, A., & Frow, P. (2005). A strategic framework for customer relationship management. Journal of marketing, 69(4),

24 How to do CRM: CRM model (1/4) STEP 1. CREATE DATABASE STEP 2. ANALYSIS STEP 3. CUSTOMER SELECTION STEP 4. CUSTOMER TARGETING STEP 5. RELATIONSHIP MARKETING STEP 6. PRIVACY ISSUES STEP 7. METRICS Winer, R. S. (2001). A framework for customer relationship management. California management review, 43(4),

25 How to do CRM: CRM model (2/4) Step 1: Create a customer database Foundation for all CRM activities It could contain: transactions, customer contacts, descriptive information, response to marketing stimuli over time The database should also be kept up-to-date at all times Step 2: Analyzing the data Defining segments with similar behavior Analyzing profitability of single customers Step 3: Customer selection Which customers to target with the firm s marketing program Which customers are most likely to generate profits and which can be left without attention Winer, R. S. (2001). A framework for customer relationship management. California management review, 43(4),

26 How to do CRM: CRM model (3/4) Step 4: Targeting the customers Segments or 1-to-1 marketing Step 5: Relationship marketing Goal is to increase customer satisfaction Possible means Frequency/loyalty programs Customization Community building Reward programs Enhanced customer service Winer, R. S. (2001). A framework for customer relationship management. California management review, 43(4),

27 How to do CRM: CRM model (4/4) Step 6: Privacy issues Many customers are very concerned for their own privacy What amount of information is necessary to conduct effective relationship marketing? Step 7: Metrics Direct financial metrics such as profit CRM-based measures such as customer acquisition costs, conversion rates, retention rates Winer, R. S. (2001). A framework for customer relationship management. California management review, 43(4),

28 CRM to whom: Fiocca (1982) (1/3) Account portfolio analysis Two-step analysis To specify the roles of different accounts Step one: Analyzing accounts on a general level Importance of an account Sales volume, potential, prestige, overall account desirability Difficulty of managing an account Product characteristics, account characteristics, competition for the account High Key Difficult 1 Nonkey Difficult 3 Low Key Easy 2 Nonkey Easy 4 High Low Difficulty in managing the account Strategic importance of an account

29 CRM to whom: Fiocca (1982) (2/3) Step two: Analyzing key accounts Customer s business attractiveness Market factors, competition, financial and economic factors, technological factors, sociopolitical factors Relative stage of the present buyer/seller relationship Strong, medium, weak relationships (in comparison to other relationships) High Customer s business Medium attractiveness Low Strong Medium Weak Relative buyer/seller relationship

30 CRM to whom: Fiocca (1982) (3/3) Generating marketing strategies based on the analysis Defining for an account whether to improve Customer s business relationship, hold attractiveness position, withdraw Customer s business attractiveness helps to define which strategy to employ Hold position Improve relationship High Medium Low Strong Medium Weak Withdraw Relative buyer/seller relationship

31 4 things to remember after this class 1. Types of relationships and why relationships are important for sellers and buyers 2. Definition of interaction and how interactions can be studied (IMP interaction model) 3. Development of business relationships: The stage based model 4. Why, how and to whom b2b companies do CRM programs

32 Thank you Any questions?

Business-to-Business Marketing Introduction

Business-to-Business Marketing Introduction Business-to-Business Marketing Introduction Antti Sihvonen Agenda 1. Introduction and practicalities 2. The case exercise 3. Main characteristics of B2B markets Introduction and practicalities Course objective

More information

Marketing Concept. The Marketing Concept

Marketing Concept. The Marketing Concept Marketing Concept Ted Mitchell is a philosophy of business competition. We need to know what it is, what it assumes, and what it implies. What is it? holds that the key to achieving organizational goals

More information

Business-to-Business Marketing

Business-to-Business Marketing Business-to-Business Marketing Sales and marketing communications in B2B Antti Sihvonen What did we go through last time and where are we moving onto now Last lecture: Customer value Product development

More information

Marketing: Helping Buyers Buy

Marketing: Helping Buyers Buy Chapter Thirteen Marketing: Helping Buyers Buy McGraw-Hill/Irwin Copyright 2010 by the McGraw-Hill Companies, Inc. All rights reserved. CRICKET LEE Fitlogic Developed a system of clothes sizing called

More information

The Customer Relationship Management Process

The Customer Relationship Management Process The Customer Relationship Management Process E d u c a t i n g t h e W o r l d s B e s t A i r F o r c e Slide 1 The Supply Chain Management Processes Information Flow Supply Chain Management Processes

More information

Factors Affecting Key Account Manager Performance

Factors Affecting Key Account Manager Performance Factors Affecting Key Account Manager Performance Mahlamäki, Tommi Tampere University of Technology P.O. Box 541 FIN-33101 Tampere, Finland Email: tommi.mahlamaki@tut.fi Uusitalo, Olavi Tampere University

More information

Customers Significance and Strategies within a CRM Context

Customers Significance and Strategies within a CRM Context Customers Significance and Strategies within a CRM Context Christos Sarmaniotis 1, Emmanouil Stiakakis, Dimitris Folinas and Irene Tilikidou 4 1,, 4 Department of Marketing, Department of Logistics Alexander

More information

CHAPTER 3 - CUSTOMER RELATIONSHIP MANAGEMENT (CRM)

CHAPTER 3 - CUSTOMER RELATIONSHIP MANAGEMENT (CRM) CHAPTER 3 - CUSTOMER RELATIONSHIP MANAGEMENT (CRM) 3.1 INTRODUCTION The most important purpose of any service orientated organisation is to retain customers. It is critical for any organization to keep

More information

Strategic Brand Management Building, Measuring and Managing Brand Equity

Strategic Brand Management Building, Measuring and Managing Brand Equity Strategic Brand Management Building, Measuring and Managing Brand Equity Part 1 Opening Perspectives 开 放 视 觉 Chapter 1 Brands and Brand Management ------------------------------------------------------------------------

More information

Skills Knowledge Energy Time People and decide how to use themto accomplish your objectives.

Skills Knowledge Energy Time People and decide how to use themto accomplish your objectives. Chapter 8 Selling With a Strategy Strategy Defined A strategy is a to assemble your resources Skills Knowledge Energy Time People and decide how to use themto accomplish your objectives. In selling, an

More information

Software Advice UserView: CRM Software Report. Lessons from real software users

Software Advice UserView: CRM Software Report. Lessons from real software users Software Advice UserView: CRM Software Report Lessons from real software users Abstract Software Advice conducted an online survey of 304 customer relationship management (CRM) software users representing

More information

Non-personal communication

Non-personal communication Week 8: Promotions Integrated Marketing Communications: advertising, Sales Promotion, Public Relations, and Direct Marketing Strategic Goals Of Marketing Communication Create awareness Build positive images

More information

Customer Relationship Management Lecture 1: Introduction - CRM Jargons, Value Systems and Value Chains. Mehran Rezaei

Customer Relationship Management Lecture 1: Introduction - CRM Jargons, Value Systems and Value Chains. Mehran Rezaei Customer Relationship Management Lecture 1: Introduction - CRM Jargons, Value Systems and Value Chains Mehran Rezaei سرفصل مطالب این جلسه ebiz و ecommerce آنچه مد نظر ماست از نقطه نظر گرایش تجارت الکترونیکی

More information

Exploring, selecting, implementing and using a customer relationship management system. A case study of theory applied in practice.

Exploring, selecting, implementing and using a customer relationship management system. A case study of theory applied in practice. Exploring, selecting, implementing and using a customer relationship management system. A case study of theory applied in practice. V. Sparks, ECCO Oxford/Oxford Brookes University, KTP associate. vsparks@brookes.ac.uk

More information

Customer Relationship Management in Indian Life Insurance Sector

Customer Relationship Management in Indian Life Insurance Sector Customer Relationship Management in Indian Life Insurance Sector Ashraf Imam Research Scholar, Department of Commerce- Aligarh Muslim University, Aligarh. Abstract Customer relationship management is an

More information

E-Commerce & CRM Building Relationships, Satisfaction, and Loyalty

E-Commerce & CRM Building Relationships, Satisfaction, and Loyalty Lecture 8 E-Commerce & CRM Building Relationships, Satisfaction, and Loyalty CRM Defined a combination of business process & technology that seeks to understand a company s customers from the perspective

More information

Customer relationship management MB-104. By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology

Customer relationship management MB-104. By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology Customer relationship management MB-104 By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology University Syllabus UNIT-1 Customer Relationship Management- Introduction

More information

the combination of varying methods and strategies to get your into the minds and hands of prospective buyers. Marketing is

the combination of varying methods and strategies to get your into the minds and hands of prospective buyers. Marketing is Marketing for Growth Wayne Brass Art Mahoney Bill McKown Heather Bender the combination of varying methods and strategies to get your product or service into the minds and hands of prospective buyers.

More information

ISO 14001 & ISO 18001 Legal Compliance Know Your Risk - Reduce your Risk"

ISO 14001 & ISO 18001 Legal Compliance Know Your Risk - Reduce your Risk American Society For Quality -Toronto Section ISO 14001 & ISO 18001 Legal Compliance Know Your Risk - Reduce your Risk" Copyright: Coudenys Management Systems Inc. RISK DEFINED Occurrence of the event

More information

Marketing (Marketing Principles)

Marketing (Marketing Principles) Marketing (Marketing Principles) Main Aim(s) of the Unit: To provide students with a foundation for the analysis of marketing within organizations including decision making processes, segmentation, the

More information

How B2B Customer Self-Service Impacts the Customer and Your Bottom Line. zedsuite

How B2B Customer Self-Service Impacts the Customer and Your Bottom Line. zedsuite How B2B Customer Self-Service Impacts the Customer and Your Bottom Line Introduction For small to mid-sized businesses trying to grow and compete with their larger counterparts, having close relationships

More information

FINTECH CORPORATE INNOVATION INDEX 2015

FINTECH CORPORATE INNOVATION INDEX 2015 FINTECH CORPORATE INNOVATION INDEX 2015 Page 01 FOREWORD Nicole Anderson CEO FINTECH CIRCLE INNOVATE The FinTech eco-system is shaping the future of financial services and it s about new entrants, new

More information

NB07-72 November 2012

NB07-72 November 2012 IT Infrastructure Outsourcing Services Market: Brazil, Argentina, and Chile Maturity and New Business Models are Driving Investments in Datacenter Services in Latin America NB07-72 November 2012 Contents

More information

Guide to choosing Graphic Designers

Guide to choosing Graphic Designers Guide to choosing Graphic Designers How to choose the right Graphic Designer for your business Contents About Computer Weekly 4 About Approved Index 5 Introduction 6 Branding 8 Choosing the right graphic

More information

PERFORMANCE MATTERS CONSUMER INSIGHTS FROM THE UNITED KINGDOM

PERFORMANCE MATTERS CONSUMER INSIGHTS FROM THE UNITED KINGDOM PERFORMANCE MATTERS CONSUMER INSIGHTS FROM THE UNITED KINGDOM In the new hyperconnected world, we no longer go online, we are online. The ubiquity of mobile devices, the increase in WiFi availability and

More information

The Influence of Media Channel on the Booking Behavior of Hotel Guests

The Influence of Media Channel on the Booking Behavior of Hotel Guests 1 Table of Content Background of presenter Importance of Topic Situation in the Industry Theoretical Background Data analysis and Formulation of Marketing-CRM Model 2 Introduction TS&C founded in 2005,

More information

Customer Relationship Management

Customer Relationship Management Customer Relationship Management Concepts and Technologies Second edition Francis Buttle xlloillvlcjx. AMSTERDAM BOSTON HEIDELBERG LONDON NEW YORK OXFORD PARIS SAN DIEGO SAN FRANCISCO SINGAPORE SYDNEY

More information

Market Analysis, Segmentation & Consumer Buying Behavior

Market Analysis, Segmentation & Consumer Buying Behavior Market Analysis, Segmentation & Consumer Buying Behavior Market Analysis If you are preparing a marketing plan, where s the best place to look for information about macro trends? Marketing Jeopardy Michael

More information

Impact of Customer Relationship Management of Hotel (A Case study Umaid Bhwan)

Impact of Customer Relationship Management of Hotel (A Case study Umaid Bhwan) Impact of Customer Relationship Management of Hotel (A Case study Umaid Bhwan) Dr. Tauseef Ahmad Jai Narain Vays University Department of accounting Dr. Omar A.A. Jawabreh Department of Tourism and Hotels

More information

From Brand Management to Global Business Management in Market-Driven Companies *

From Brand Management to Global Business Management in Market-Driven Companies * From Brand Management to Global Business Management in Market-Driven Companies * Emilio Zito ** Abstract Over the past several years, the most competitive mass-market companies (automobile, high-tech,

More information

MODULE TITLE: Exploring Strategy

MODULE TITLE: Exploring Strategy SCHOOL OF ARTS, SOCIAL SCIENCES AND MANAGEMENT DIVISION OF BUSINESS, ENTERPRISE AND MANAGEMENT LEVEL 3 DIET 2 MODULE CODE: B3132 MODULE TITLE: Exploring Strategy DATE: 29 July 2013 WRITING TIME: 2 Hours

More information

CHAPTER 1. Overview of CRM. E-Customer Relationship Management

CHAPTER 1. Overview of CRM. E-Customer Relationship Management CHAPTER 1 Overview of CRM E-Customer Relationship Management Objectives Defines CRM as a process and as a hub of learning for the organization Outlines costs and benefits of the CRM system for organizations

More information

EXAMINING DIRECT & INTERACTIVE MARKETING APPLICATIONS IN A VARIETY OF SECTORS

EXAMINING DIRECT & INTERACTIVE MARKETING APPLICATIONS IN A VARIETY OF SECTORS 1 CHAPTER 14-2E EXAMINING DIRECT & INTERACTIVE MARKETING APPLICATIONS IN A VARIETY OF SECTORS Summary The applications of direct and interactive marketing are almost endless. This chapter has explored

More information

Fundamentals of Marketing Management

Fundamentals of Marketing Management Fundamentals of Management Dr. P.V. (Sundar) Managing World-Class Organizations What is? Process by which individuals and groups obtain what they need and want through creating and exchanging products

More information

CUSTOMER RELATIONSHIP MANAGEMENT IN B2B MARKET

CUSTOMER RELATIONSHIP MANAGEMENT IN B2B MARKET CUSTOMER RELATIONSHIP MANAGEMENT IN B2B MARKET Dr. Amit Kumar Assistant Professor, Department Of Commerce, Sunbeam College For Women, Varanasi (U.P.) dramitsunbeam@gmail.com Abstract The modern environment

More information

Organizational Buying Behaviors in Online Marketing industry

Organizational Buying Behaviors in Online Marketing industry Organizational Buying Behaviors in Online Marketing industry TaeSung Park Monash University diamondinmarketing@gmail.com Knowledge of the process that organizational buyers follow in making purchasing

More information

ACHIEVING BUSINESS GOALS THROUGH APPROPRIATE CUSTOMER RELATIONSHIP MANAGEMENT

ACHIEVING BUSINESS GOALS THROUGH APPROPRIATE CUSTOMER RELATIONSHIP MANAGEMENT ACHIEVING BUSINESS GOALS THROUGH APPROPRIATE CUSTOMER RELATIONSHIP MANAGEMENT Dr.M.Ramasamy Dean, Madha College of Engineering, Chennai. Introduction One of the ongoing challenges successful businesses

More information

Optimising the B2B Sales Funnel

Optimising the B2B Sales Funnel THE MARKETING EXECUTIVE CIRCLE Optimising the B2B Sales Funnel 4 action points for smarter email marketing By Andrew Sanderson, Managing Director, Ansaco (www.ansaco.de) This paper identifies four points

More information

B2B Strategies: from EDI to e-commerce. Objectives. In this chapter, you will learn about:

B2B Strategies: from EDI to e-commerce. Objectives. In this chapter, you will learn about: Introduction to e-commerce B2B Strategies: from EDI to e-commerce Objectives In this chapter, you will learn about: Strategies that businesses use to improve purchasing, logistics, and other support activities

More information

The Importance of Trust in Relationship Marketing and the Impact of Self Service Technologies

The Importance of Trust in Relationship Marketing and the Impact of Self Service Technologies The Importance of Trust in Relationship Marketing and the Impact of Self Service Technologies Raechel Johns, University of Canberra Bruce Perrott, University of Technology, Sydney Abstract Technology has

More information

Effective Strategies for Modern Sales

Effective Strategies for Modern Sales Effective Strategies for Modern Sales Featuring Frank V. Cespedes, Harvard Business School Professor and author of Aligning Strategy and Sales: The Choices, Systems, and Behaviors that Drive Effective

More information

Email Marketing Step 1: Maximizing Your Email Sign-up Process

Email Marketing Step 1: Maximizing Your Email Sign-up Process Jessica Best emfluence Digital Marketing Evangelist @bestofjess or @emfluence Email Marketing Step 1: Maximizing Your Email Sign-up Process Best Practices for Your Email Sign-up Process Driving Traffic

More information

How is the Net Promoter score calculated?

How is the Net Promoter score calculated? How is the Net Promoter score calculated? Net Promoter is based on the question How likely would you be to recommend THIS hotel to someone else, if they were to require a hotel in this area in the future?.

More information

How To Succeed With A Customer Relationship Management

How To Succeed With A Customer Relationship Management WHITE PAPER CRM A SUCCESSFUL BUSINESS STRATEGY 1 White Paper CRM a successful business strategy IN THIS WHITE PAPER CRM a successful business strategy by Zync Customer Management AB This document is guide

More information

The Impact of Market Orientation and IT Management Orientation on Customer Relationship Management (CRM) Technology Adoption

The Impact of Market Orientation and IT Management Orientation on Customer Relationship Management (CRM) Technology Adoption The Impact of Market Orientation and IT Management Orientation on Customer Relationship Management (CRM) Technology Adoption James E. Richard, Peter C. Thirkell and Sid L. Huff, Victoria University of

More information

Understanding Hiring vs. Recruiting

Understanding Hiring vs. Recruiting Understanding Hiring vs. Recruiting Changing the hiring model to attract top talent involves rethinking practices. Dr. Cabot L. Jaffee AlignMark Inc. 500 Winderley Place #224 Maitland, FL 32751 February

More information

California Mutual Insurance Company Code of Business Conduct and Ethics

California Mutual Insurance Company Code of Business Conduct and Ethics California Mutual Insurance Company Code of Business Conduct and Ethics This Code of Business Conduct and Ethics (the Code ) applies to all officers, employees, and directors of California Mutual Insurance

More information

Marketing Communications Lecture 1 Introduction. Marketing Communications theory Marketing communications industry Ethics in marketing communications

Marketing Communications Lecture 1 Introduction. Marketing Communications theory Marketing communications industry Ethics in marketing communications Marketing Communications Lecture 1 Introduction Marketing Communications theory Marketing communications industry Ethics in marketing communications Definition Marketing communications is a management

More information

Feedback: A Key To ebay Customer Retention

Feedback: A Key To ebay Customer Retention Feedback: A Key To ebay Customer Retention Why Should I Care? Customer loyalty should be especially important to sellers that offer items that may be purchased more than once by a repeat customer Because

More information

CRM Systems and Customer Survey Measurement A Panoramic View of Customers by Jamie Baker-Prewitt, Ph.D.,Vice President, Burke, Inc.

CRM Systems and Customer Survey Measurement A Panoramic View of Customers by Jamie Baker-Prewitt, Ph.D.,Vice President, Burke, Inc. PUB. NO. 0602 CRM Systems and Customer Survey Measurement by Jamie Baker-Prewitt, Ph.D.,Vice President, Burke, Inc. Companies develop CRM (customer relationship management) systems for a variety of reasons,

More information

Data Quality and Integrity

Data Quality and Integrity Data Quality and Integrity Mary Lou Cummings Dun & Bradstreet Agenda Common Data Issues Adverse Impacts Contributing Factors Technology or Business Problem? Time for A Paradigm Shift Data Governance Strategy

More information

Customer Relationship Management: an Organizational Survival Approach to Perceive Customer Loyalty

Customer Relationship Management: an Organizational Survival Approach to Perceive Customer Loyalty Customer Relationship Management: an Organizational Survival Approach to Perceive Customer Loyalty Dr. Mehran Molavi1, Ayub Nahardah2 1-Department of Public Administration, College of Human Sciences, Mahabad

More information

Learning Objectives. Chapter 6. Market Structures. Market Structures (cont.) The Two Extremes: Perfect Competition and Pure Monopoly

Learning Objectives. Chapter 6. Market Structures. Market Structures (cont.) The Two Extremes: Perfect Competition and Pure Monopoly Chapter 6 The Two Extremes: Perfect Competition and Pure Monopoly Learning Objectives List the four characteristics of a perfectly competitive market. Describe how a perfect competitor makes the decision

More information

meet and exceed customer expectation not just on price Read the example of McDonald s outlined on Jobber, pages 11-12.

meet and exceed customer expectation not just on price Read the example of McDonald s outlined on Jobber, pages 11-12. Customer value = Perceived benefits perceived sacrifice Or we can put this another way: the gain (acquisition of the product or service) must outweigh the pain of acquisition (cost, difficulty of obtaining

More information

Supplier Relationships Lecture 7. Briony Boydell Managing Business Relationships

Supplier Relationships Lecture 7. Briony Boydell Managing Business Relationships Supplier Relationships Lecture 7 Briony Boydell Managing Business Relationships Objectives of lecture Identify the types of relationships within the supply chain Discuss the benefits of improved relations

More information

FINDING BIG PROFITS IN THE AGE OF BIG DATA

FINDING BIG PROFITS IN THE AGE OF BIG DATA FINDING BIG PROFITS IN THE AGE OF BIG DATA UNLOCKING THE ENTERPRISE POTENTIAL OF BEHAVIORAL SEGMENTATION Alex Tavera Senior Loyalty Consulting Manager Behavioral Segmentation / 2 SEGMENTATION HAS EVOLVED

More information

BROKER-CLIENT RELATIONSHIP: A CONCEPTUAL FRAMEWORK

BROKER-CLIENT RELATIONSHIP: A CONCEPTUAL FRAMEWORK BROKER-CLIENT RELATIONSHIP: A CONCEPTUAL FRAMEWORK Ahmed Beloucif Aberdeen Business School, The Robert Gordon University Garthdee Road, Aberdeen AB10 7QE. Tel.: (01224) 263800 E-mail: a.beloucif@rgu.ac.uk

More information

Marketing: Advertising and Sales Promotion

Marketing: Advertising and Sales Promotion Marketing: Advertising and Sales Promotion Food Communication II Section A Introduction to Marketing All of the information has been adapted from Kotler P. Armstrong, G.,2004. Principles of Marketing.

More information

Optimizing Rewards and Employee Engagement

Optimizing Rewards and Employee Engagement Optimizing Rewards and Employee Engagement Improving employee motivation and engagement, and identifying the right total rewards strategy to influence workforce effectiveness. Kevin Aselstine, Towers Perrin

More information

The interactions between clients and providers of services related to marketing activities

The interactions between clients and providers of services related to marketing activities The interactions between clients and providers of services related to marketing activities ABSTRACT Maria Antónia Rodrigues Polytechnic of Porto - ISCAP Fundação para a Ciência e a Tecnologia - FCT João

More information

UNIVERSITY OF GHANA (All rights reserved) UGBS SECOND SEMESTER EXAMINATIONS: 2013/2014. BSc, MAY 2014

UNIVERSITY OF GHANA (All rights reserved) UGBS SECOND SEMESTER EXAMINATIONS: 2013/2014. BSc, MAY 2014 UNIVERSITY OF GHANA (All rights reserved) UGBS SECOND SEMESTER EXAMINATIONS: 2013/2014 BSc, MAY 2014 ECCM 302: CUSTOMER RELATIONSHIP MANAGEMENT (3 CREDITS) TIME ALLOWED: 3HRS IMPORTANT: 1. Please read

More information

EVALUATION AND MEASUREMENT IN MARKETING: TRENDS AND CHALLENGES

EVALUATION AND MEASUREMENT IN MARKETING: TRENDS AND CHALLENGES EVALUATION AND MEASUREMENT IN MARKETING: TRENDS AND CHALLENGES Georgine Fogel, Salem International University INTRODUCTION Measurement, evaluation, and effectiveness have become increasingly important

More information

Sales Training Programme. Module 8. Closing the sale workbook

Sales Training Programme. Module 8. Closing the sale workbook Sales Training Programme. Module 8. Closing the sale workbook Workbook 8. Closing the sale Introduction This workbook is designed to be used along with the podcast on closing the sale. It is a self learning

More information

Five Predictive Imperatives for Maximizing Customer Value

Five Predictive Imperatives for Maximizing Customer Value Five Predictive Imperatives for Maximizing Customer Value Applying predictive analytics to enhance customer relationship management Contents: 1 Customers rule the economy 1 Many CRM initiatives are failing

More information

College of Business Administration The University of Rhode Island. MBA 505 - Marketing Management Summer 2004

College of Business Administration The University of Rhode Island. MBA 505 - Marketing Management Summer 2004 College of Business Administration The University of Rhode Island MBA 505 - Marketing Management Summer 2004 Professor: Deborah Rosen Office: 339 Ballentine Phone: 401-874-4393 Fax: 401-874-4312 email:

More information

Your 3-ACT GUIDE. to Better Customer Acquisition & Retention with a CRM

Your 3-ACT GUIDE. to Better Customer Acquisition & Retention with a CRM Your 3-ACT GUIDE to Better Customer Acquisition & Retention with a CRM Using the traditional sales process to attract and retain customers in today s world is about as effective as a tricycle in the Tour

More information

CHAPTER. Market Research. Research? Section What Is Your Competitive Advantage?

CHAPTER. Market Research. Research? Section What Is Your Competitive Advantage? CHAPTER Market Research Section Research? What Is Market Section What Is Your Competitive Advantage? SECTION What Is Market Research? OBJECTIVES Explain why market research is important Consider important

More information

Managing relationships and the differences between manufacturing and service industries

Managing relationships and the differences between manufacturing and service industries Managing relationships and the differences between manufacturing and service industries Sheena Leek Peter W. Turnbull University of Birmingham Peter Naudé University of Bath ABSTRACT Since the importance

More information

Capture Planning CAPTURE PLANNING IN CONTEXT

Capture Planning CAPTURE PLANNING IN CONTEXT Proposal Guide here. Today s topic is capture planning. Capture planning is the process of identifying opportunities, assessing the environment, and implementing winning strategies to capture a specific

More information

Account Development Strategies. Always, Sometimes and Never. Covenants. Sales & Development Curriculum

Account Development Strategies. Always, Sometimes and Never. Covenants. Sales & Development Curriculum Sales & Development Curriculum Account Development Strategies Always, Sometimes and Never How do you maintain, protect and GROW your accounts? In this course, we ll give you tools, tactics and processes

More information

Barco Marketing Case Analysis

Barco Marketing Case Analysis Barco Marketing Case Analysis I. Position Statement: Over the past few months, many events have led Barco Projection Systems to be confronted with an important decision: Barco needs to continue its development

More information

Earned value theory or earned value management

Earned value theory or earned value management PMI Virtual Library 2010 Francisco-Javier Rodriguez Impact of Revenue Recognition Methods in Project Cost Control Through Earned Value By Francisco-Javier Rodríguez, MBA, PMP Earned value theory or earned

More information

WORKSHOP #4 CUSTOMER TARGETING (MARKETING) STRATEGY

WORKSHOP #4 CUSTOMER TARGETING (MARKETING) STRATEGY WORKSHOP #4 CUSTOMER TARGETING (MARKETING) STRATEGY THE FUNDAMENTAL ELEMENTS OF THE DEFINITION OF A CUSTOMER TARGETING (MARKETING) STRATEGY Corporate Strategy Mission of the firm Strategic thrusts and

More information

UNDERSTANDING CUSTOMERS - PROFILING AND SEGMENTATION

UNDERSTANDING CUSTOMERS - PROFILING AND SEGMENTATION UNDERSTANDING CUSTOMERS - PROFILING AND SEGMENTATION Mircea Andrei SCRIDON Babes Bolyai University of Cluj-Napoca Abstract: In any industry, the first step to finding and creating profitable customers

More information

TARGET COSTING AND THE PRODUCT DEVELOPMENT CYCLE ESTABLISH TARGET

TARGET COSTING AND THE PRODUCT DEVELOPMENT CYCLE ESTABLISH TARGET TARGET COSTING 1 TARGET COSTING AND THE PRODUCT DEVELOPMENT CYCLE Market Research ESTABLISH TARGET ATTAIN TARGET Competitive Strategy Product Strategy and Profit Plans Product Concept & Feasibility Product

More information

Section 1 - Overview and Option Basics

Section 1 - Overview and Option Basics 1 of 10 Section 1 - Overview and Option Basics Download this in PDF format. Welcome to the world of investing and trading with options. The purpose of this course is to show you what options are, how they

More information

Roadmap for Service Excellence

Roadmap for Service Excellence 15.778 Summer 2004 Management of Supply Networks for Products and Services: Concepts, Design, and Delivery Roadmap for Service Excellence G. Bitran S. Gurumurthi 15.778 Management of Supply Networks for

More information

CRM Customer Relationship Management

CRM Customer Relationship Management CRM Customer Relationship Management Bianka Parragh, Phd Óbuda University Keleti Károly Faculty of Business and Management Institute of Enterprise Management Approaches of Customer Relationship Management

More information

Succeeding in a Challenging Environment

Succeeding in a Challenging Environment Succeeding in a Challenging Environment Sales Strategies and Tactics Scott A. Inks, Ph.D. Director, H.H. Gregg Center for Professional Selling Associate Professor of Marketing Ball State University Agenda

More information

in the Kingdom Where Content Rules, Telemarketing is

in the Kingdom Where Content Rules, Telemarketing is in the Kingdom Where Content Rules, Telemarketing is the Royal Chariot 1555 Pony Express Hwy, Home, KS 66438 (800) 882-0803 ronen@bluevalley.net www.bluevalleytelemarketing.com Content marketing is one

More information

aec business How to Manage Client Relationships A Short Guide for Architects, Engineers, and Contractors aec-business.com

aec business How to Manage Client Relationships A Short Guide for Architects, Engineers, and Contractors aec-business.com aec-business.com How to Manage Client Relationships A Short Guide for Architects, Engineers, and Contractors By Aarni Heiskanen, Management Consultant, M. Arch., AE Partners About the Author I m Aarni

More information

Dark Side of CRM. Marketing Issues: The Dark Side of CRM. Background... Overview.. Obvious Examples.. Background...

Dark Side of CRM. Marketing Issues: The Dark Side of CRM. Background... Overview.. Obvious Examples.. Background... Dark Side of CRM Marketing Issues: The Dark Side of CRM Dr. Bang Nguyen Oxford Brookes Business School 2011 2 Overview.. Background... The Dark Side of CRM Underlying Reasons for Exploitation and Unfairness

More information

GUIDE TO THE. 12 Must-Have KPIs for Sales Enablement

GUIDE TO THE. 12 Must-Have KPIs for Sales Enablement GUIDE TO THE 12 Must-Have KPIs for Sales Enablement Introduction Key Performance Indicators (KPIs) are a set of metrics that measure a business s progress towards achieving their organizational goals.

More information

Pricing and Output Decisions: i Perfect. Managerial Economics: Economic Tools for Today s Decision Makers, 4/e By Paul Keat and Philip Young

Pricing and Output Decisions: i Perfect. Managerial Economics: Economic Tools for Today s Decision Makers, 4/e By Paul Keat and Philip Young Chapter 9 Pricing and Output Decisions: i Perfect Competition and Monopoly M i l E i E i Managerial Economics: Economic Tools for Today s Decision Makers, 4/e By Paul Keat and Philip Young Pricing and

More information

Turnover. Defining Turnover

Turnover. Defining Turnover Retaining Talent A guide to analyzing and managing employee turnover; By David G. Allen, Ph.D., SPHR SHRM Foundation s Effective Practice Guidelines Series Defining Turnover Turnover is defined as an employee

More information

Key Issues in Use of Social Networking in Hospitality Industry:

Key Issues in Use of Social Networking in Hospitality Industry: Key Issues in Use of Social Networking in Hospitality Industry: 2009 Parisa Salkhordeh University of Delaware Introduction The number of the Internet users increases every day. Tourism & hospitality are

More information

Linking Employee Satisfaction, Employee Engagement, and Employee Ambassadorship Session 1: Ambassadorship Concept/Framework Introduction and Rationale

Linking Employee Satisfaction, Employee Engagement, and Employee Ambassadorship Session 1: Ambassadorship Concept/Framework Introduction and Rationale Linking Employee Satisfaction, Employee Engagement, and Employee Ambassadorship Session 1: Ambassadorship Concept/Framework Introduction and Rationale Driving A Successful Customer-Centric Culture Through

More information

Strategies for Marketing, Sales, and Promotion

Strategies for Marketing, Sales, and Promotion Introduction to e-commerce Strategies for Marketing, Sales, and Promotion Objectives In this chapter, you will learn about: When to use product-based and customer-based marketing strategies Communicating

More information

MANAGING YOUR EMAIL LIST

MANAGING YOUR EMAIL LIST MANAGING YOUR EMAIL LIST Ensuring you reach the right people at the right time with a relevant message. 866.915.9465 www.delivra.com 2013 Delivra Professional Email Marketing Software and Consulting 2

More information

Management Report Corporate Profile Annual Report 2014 Continental AG 42

Management Report Corporate Profile Annual Report 2014 Continental AG 42 Management Report Corporate Profile Annual Report 2014 Continental AG 42 Corporate Strategy A balanced product portfolio, technological and market leadership in the market segments relevant to us, as well

More information

The Changing Face of Australian Financial Planning the role of relationships: a case study.

The Changing Face of Australian Financial Planning the role of relationships: a case study. The Changing Face of Australian Financial Planning the role of relationships: a case study. Authors Catherine Sutton-Brady, School of Marketing and International Business Michael Blissenden, School of

More information

CUSTOMER RELATIONSHIP MANAGEMENT. Concepts and technologies. Third edition FRANCIS BUTTLE AND STAN MAKLAN

CUSTOMER RELATIONSHIP MANAGEMENT. Concepts and technologies. Third edition FRANCIS BUTTLE AND STAN MAKLAN CUSTOMER RELATIONSHIP MANAGEMENT Concepts and technologies Third edition FRANCIS BUTTLE AND STAN MAKLAN Routledge R Taylor & Francis Group LONDON AND NEW YORK List offigures List oftables About the authors

More information

Enhanced Money Market Funds Reporting

Enhanced Money Market Funds Reporting January 20, 2016 Enhanced Money Market Funds Reporting Schwab Money Funds are making important changes to their reporting features to comply with the new Securities and Exchange (SEC) regulations. More

More information

Small Business Grants Marketing info checklist

Small Business Grants Marketing info checklist Small Business Grants Marketing info checklist Prepared by Helen Ward Director ClientEdge and past City of Melbourne assessment panel member The following information is provided to guide you to complete

More information

LIST OF TABLES. Table No. Table Name Page No. 4.2.5 Frequency tables on customization of services 56

LIST OF TABLES. Table No. Table Name Page No. 4.2.5 Frequency tables on customization of services 56 LIST OF TABLES Table No. Table Name Page No. 4.2.1 Respondent s age 48 4.2.2 Cross-tabulation between the ease of opening a bank account and age 4.2.3 Cross tabulation between the ease in opening a bank

More information

The Language of the Stock Market

The Language of the Stock Market The Language of the Stock Market Family Economics & Financial Education Family Economics & Financial Education Revised November 2004 Investing Unit Language of the Stock Market Slide 1 Why Learn About

More information

D&B Optimizer Powered by Acxiom

D&B Optimizer Powered by Acxiom D&B Optimizer Powered by Acxiom Increase campaign efficiency, improve response rates, and reveal new opportunities by identifying and enriching more business and commercial records in your databases Enable

More information

Technology-Driven Demand and e- Customer Relationship Management e-crm

Technology-Driven Demand and e- Customer Relationship Management e-crm E-Banking and Payment System Technology-Driven Demand and e- Customer Relationship Management e-crm Sittikorn Direksoonthorn Assumption University 1/2004 E-Banking and Payment System Quick Win Agenda Data

More information

The Free Market Approach. The Health Care Market. Sellers of Health Care. The Free Market Approach. Real Income

The Free Market Approach. The Health Care Market. Sellers of Health Care. The Free Market Approach. Real Income The Health Care Market Who are the buyers and sellers? Everyone is a potential buyer (consumer) of health care At any moment a buyer would be anybody who is ill or wanted preventive treatment such as a

More information