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Stages in The Development of A Customer Relationship

The document outlines several stages in the development of customer relationships: 1) The pre-relationship stage occurs when a buyer seeks a new business partner. 2) The early stage is characterized by uncertainty and distance as experience is accumulated between buyer and seller. 3) The development stage sees increased transactions, commitment, and a reduction in social distance between the parties.

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160286sanjeevjha
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106 views7 pages

Stages in The Development of A Customer Relationship

The document outlines several stages in the development of customer relationships: 1) The pre-relationship stage occurs when a buyer seeks a new business partner. 2) The early stage is characterized by uncertainty and distance as experience is accumulated between buyer and seller. 3) The development stage sees increased transactions, commitment, and a reduction in social distance between the parties.

Uploaded by

160286sanjeevjha
Copyright
© Attribution Non-Commercial (BY-NC)
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

Stages in the development of a Customer

Relationship
The Pre-relationship Stage
The event that triggers a buyer to seek a new business partner.
The Early Stage
Experience is accumulated between the buyer and seller although a great
degree of uncertainty and distance exists.
The Development Stage
Increased levels of transactions lead to a higher degree of commitment and the
distance is reduced to a social exchange.
The Long-term Stage
Characterised by the companies’ mutual importance to each other.
The Final Stage
The interaction between the companies becomes institutionalized
Stages in the Development of a Key-Account Relationship

High
Synergistic KAM

Partnership

Degree of
Mid-KAM
involvement
Early-KAM

Low Pre-KAM

Transactional Collaborative
Nature of customer relationship
Customer centric banking- a true relationship can only be
accomplished by considering the unique perspectives of every
single customer of the bank
THE CRM BUSINESS CYCLE
Functions of customer relationship management

Direct functions (are the basic requirements of a company that are


necessary to survive in the competitive marketplace)
 Profit;
 Volume; and
 Safeguard

Indirect functions (are the actions necessary to convince the


customer to participate in various marketing activities).
 Innovation:
 Market;
 Scout: and
 Access.
Functions of Customer Relationship Management

Value Creation Process


Technology delivery process
•R&D
•Technology integration
Management •Efficiency, effectiveness
Decision learning
Process
Value-based
Customer sensitivity Product delivery process Strategies
•Concept to launch •Pricing
•Diversity •Manufacturing process •Communication
•Information
•Differentiated
offering Customer delivery process
•Supply chain
•Distribution
•Infomediation (distribution
of information)

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