MARKETING  

TCC1                                                     MARKETING                                        06- 12- 21

 

                                                          

CUSTOMER RELATIONSHIP MANAGEMENT

 

Customer relationship management also called SEGMENTATION refers to the process of identifying prospective customers with homogenous characteristics by region, social class and personality analysis. It is on this broad analysis that many global brands have been and continue to be based.

Companies also have to build and protect the presence of their brands on social networking sites. A brand can have’’ friends’’ on Facebook.

THE brand’s marketers would often prefer that presence to be maintained and enhanced mainly by the company (or its webhosting agency) rather than by consumers, even friendly ones.

Tools of CRM:

DATA MINING refers to the study of data collected through LOYALTY CARDS:

This allows customers to identify individual patterns of consumer behavior and model offers of particular interest to them as individuals, or referred to as segments of one.

The Data mining software allows companies to collect vast amounts of information from customers to be analysed in order to produce Intelligence through profiling.

 

CUSTOMER CENTRIC MARKETING:

This increases customer loyalty over a period of time.

Research shows that companies generate profit from the long period of time that customers buy from a retailer or a store.

These increased profits come from a combination of

-          Cost savings in marketing

-          Word of mouth referrals

-          Increased purchased 

  Intrusive Marketing refers to unsolicited e-mails and direct mail.

Retailers pay more attention to customer experience by delivering fewer, more relevant messages that reflect the multichannel relationship with customers through - retail stores

                  - Website

                 - Catalogs

 

                                                                                                                    06/12/21