Technology has revolutionized how marketing is done today as opposed to a decade ago. While telephone calls, sales representatives go door to door, or direct mail is still being practiced today, one is more likely to be reached through social media, mobile or smartphones, and advertisement emails. Markets throughout the world are becoming increasingly competitive and with advancement in technology, plays pivotal role in giving companies an edge over other entrants in the industry. Time is of the
present time the relationship with clients are changed. Previously sellers knew personally theirs customers and knew exactly their preferences. Eventually with growth of cities, growth of companies and mobility, this individual approach was difficult to provide. So now companies build relationship in some other way and search for new solutions for that. Until recently, sellers fixed attention on selling product to as many people as possible, so the sellers focused on mass marketing. Then, segments
“The core marketing functions within an organization.” A company is considered to have two basic functions; marketing and innovations. The American Marketing Association defines marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” (American Marketing Association, 2013). The marketing functions within a business are grouped into three general categories;
IMPLEMENTATION OF CUSTOMER RELATIONSHIP MANAGEMENT IN SERVICE INDUSTRY Since the beginning of the new millennium, traditional marketing practices have not been effective in yielding good returns. Companies have turned reluctant to spend huge advertising expenditure and marketing research- the potent tool of getting deeper insights of customer has lost its charisma. Due to enigmatic consumer behavior it becomes inevitable for the companies to develop new marketing strategies. Customer Relationship Management
2.2 Customer Loyalty Customer loyalty in banking institutions has been a main concern due to severe competition and customer expectations (Rezaei, Velashani, Afrough, Haghshenas, & Shakeri, 2015). Customer satisfaction has been the main focus of every organization for some times. However, various researchers proposed that only gaining customer satisfaction is not enough. A shift in emphasizes from customers satisfaction to loyalty appears to be a more effective change in strategy for most organizations
example, the use of customer relationship management methods such as data mining or customer service is key in maximizing the effectiveness of a supply chain, restructuring the infrastructure and by creating a comprehensive database with customer information, patterns and market trends gives the organization
INTRODUCTION Marketing is an endless art and science of linking products and services with consumers, through a number of systematic and dynamic channels with elements of value, desire, exchange mode, freedom and reasonability (Kotler,2000). Many marketing scholars have concurred that there are five distinct periods in the progress of marketing philosophy which comprises the production orientation, product orientation, sales orientation, market orientation, and the societal marketing orientation (Keith
Stakeholder marketing There is a marketing approach which assist firms to build stakeholder relationships using a marketing orientation. Marketers can build on expertise of managing customer relationship and generating customer value to develop a stakeholder marketing approach that addresses the economic, social, and environmental concerns of multiple stakeholders. Stakeholder marketing includes a stakeholder orientation and stakeholder responsiveness that creates a competitive advantage in greater
of supply chain management and its relationship to logistics, marketing, production and operations management. The study tried to clear the dilemma of supply chain management as cross-disciplinary subject or a functional subject.
lifelong alumni relationships there is potential to gain wider, meaningful benefits from the alumni constituency. By educating students, alumni and the institution itself, the benefits of an incremental approach to institutional advancement practice can become embedded within an institution’s values and management practice. Too often alumni slip away after graduation if a means