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Marketing Management Module 5

The document discusses customer relationship management (CRM). CRM involves attracting, retaining, and growing customers through building customer relationships and customer equity. It focuses on meeting and exceeding customer expectations to increase satisfaction and loyalty over time. Maintaining existing customers is significantly less costly than acquiring new ones. CRM tools allow customizing interactions and analyzing customer needs and profitability to strengthen relationships.

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Manuel Boahen
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28 views

Marketing Management Module 5

The document discusses customer relationship management (CRM). CRM involves attracting, retaining, and growing customers through building customer relationships and customer equity. It focuses on meeting and exceeding customer expectations to increase satisfaction and loyalty over time. Maintaining existing customers is significantly less costly than acquiring new ones. CRM tools allow customizing interactions and analyzing customer needs and profitability to strengthen relationships.

Uploaded by

Manuel Boahen
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Customer Relationship

management
CUC-MBA -Marketing
Management –George K
Amoako

1-1
• Customer is the employer.
• Managing the employer to remain
employed should be every
employees goal.

1-2
CRM
• CRM – Customer relationship
management . . .
“is the overall process of building
and maintaining profitable customer
relationships by delivering superior
customer
value and satisfaction.”
1-3
CRM
• It costs 5 to 10 times MORE to
attract a new customer than it
does to keep a current customer
satisfied.
• Marketers must be concerned
with the lifetime value of the
customer.
1-4
CRM
• Customer value/satisfaction
Key Concepts  Perceptions are key
 Meeting/exceeding
expectations creates
• Attracting, satisfaction
• Loyalty and retention
retaining and  Benefits of loyalty
growing customers  Loyalty increases as
satisfaction levels increase
• Building customer  Delighting consumers should
be the goal
relationships and • Growing share of customer
customer equity  Cross-selling

1-5
CRM
• Customer equity
Key Concepts  The total combined
customer lifetime
• Attracting, values of all
retaining and customers.
growing customers  Measures a firm’s
performance, but in a
• Building customer
manner that looks to
relationships and the future.
customer equity
1-6
CRM
Key Concepts • Customer
relationship
• Attracting, levels and tools
retaining and  Target market
growing customers typically dictates
• Building customer type of
relationships and relationship
customer equity Basic
relationships
1-7
Marketing Challenges
• Technological advances, rapid
globalization, and continuing social
and economic shifts are causing
marketplace changes.
• Major marketing developments can be
grouped under the theme of
Connecting.

1-8
Marketing Challenges
Connecting • Advances in computers,
telecommunications, video-
conferencing, etc. are
• Via technology major forces.
 Databases allow for
• With customers customization of products,
messages and analysis of
needs.
• With marketing • The Internet
partners  Facilitates anytime,
anywhere connections
• With the world  Facilitates CRM
 Creates marketspaces
1-9
Marketing Challenges
Connecting • Selective
relationship
• Via technology
management is
• With customers key.
• With marketing  Customer
partners profitability
analysis
• With the world
separates
winners from 1 - 10
Marketing Challenges
Connecting • Partner
• Via technology relationship
management
• With customers
involves:
• With marketing  Connecting inside the
partners company
 Connecting with
• With the world outside partners
 Supply chain
1 - 11
Marketing Challenges
Connecting • Globalization
 Competition
• Via technology  New
• With customers opportunities
• With marketing • Greater concern
partners for
• With the world environmental
and social
1 - 12

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