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Management-Introduction
Some evidences
In 2003, Forrester, 22% of larger organizations had
someone in charge of the customer experience. 40% of
all data analytics projects is about customer experience.
1960
Marketing Era
Marketing Era
1940
Automation &
Communication Age Sales Era
1920
1840
1760
Consumer
Durables B2B Services
packaged
9
Understanding the shift
Exchange Paradigm Relational Paradigm
Relational
Perspective
Exchange
perspective
Outcome
Shift continues..
The 4-P paradigm involves The relationship marketing
marketing to anonymous paradigm in:
masses of customers industrial marketing
services marketing
managing channel
strategic alliances
B2B marketing
Relationship Marketing
RM draws attention to the importance of retaining as well as
attracting customers, with emphasis being placed on the
development of long term relationships with customers.
30 Rs
http://www.emeraldinsight.com/doi/pdfplus/10.1108/09564239410074
4Ps
4ps 349
Gummensson 1997
Customer Life Cycle
Bonding for
Customer Relationship
Level 1: Financial bonds
Volume and frequency of rewards.
Benefits
Decrease in Costs
Maximization of Revenues
Improvement in Profits
Acquisition and Retention of Profitable Customers
Reactivation of Dormant Customers
Profit Generated by a Customer Over Time
Profit Impact of 5 Percent Increase in Retention
Rate
Source: F. F. Reichheld, Loyalty and the Renaissance of Marketing, Marketing Management, vol. 2, no. 4 (1994), p. 15.
Loyalty economics
The Customer Pyramid
Misunderstandings about CRM
CRM is database marketing
CRM is marketing process
CRM is an IT issue
CRM is about loyalty schemes
Explosion of CRM in Marketing and IT
32
ENABLERS FOR THE GROWTH OF CRM
33
THE CRITICALITY OF CUSTOMER RELATIONSHIPS
Non traditional
competition
Misalignment
between revenue
and profits
Market maturity
34
Market Maturity
35
Misalignment between Revenue
and Profit
36
Rising Customer Expectations
Aging
population (DC)
Individualism
Time scarcity
37
Decreasing Customer Loyalty- Example
Number of different financial service providers that respondents are associated with
35
30.2 30.7
30
% of consumers
25
21.1
20
14.1 1996
15
10
5
0
1 2 3 4+
Number of financial service providers
Source: Unidex Report