Lesson 1
Relationship Marketing & Value of Customer
MELC: Define the marketing relation and explain the value of customer
ABM_PMABM_PM11-Icd-5-6
Objectives: 1. Define relationship marketing
2. Identify relationship development strategies.
3. Explain the value of customer
4. Illustrate successful customer service strategy
Let’s Try
1. What does call to the information of the customer's experience
A. Customer feedback
B. Customer lifetime value
C. Customer relations
D. Customer service
2. What do you call to rewards system through earning points?
A. Loyalty Programs
B. Loyalty Card
C. Reward System
D. Feedback
3. What do you mean by sending or receiving information, such as customer survey
feedback?
A. Receiving
B. Sending
C. Communication
D. Chitchat
4. What drives repeat purchases?
A. Customer Retention
B. Customer Feedback
C. Customer Service
D. Customer Loyalty
5. Which of the following says increases your customer's lifetime value and boosts
your
revenue?
A. Customer Service
B. Customer Feedback
C. Customer Retention
D. Customer loyalty
6. The following statements describe the characteristics of the personal shopper.
EXCEPT.
A. be very open-minded and not influenced by their likes only
B. have an eye for fashion and color
C. can’t see gaps in the market - things that customers would like but aren't
available
D. Know when and how to give an honest opinion
7. What is the provision of service before, during, and after purchase through
information, assistance, and creating a trusting environment?
A. Customer feedback
B. Customer lifetime value
C. Customer relations
D. Customer service
8. What are the examples of customer service practices?
A. 24/7 service
B. Toll-free hotline
C. Free delivery
D. All of these
9. Which feature shows customers appreciate beautiful design, that works well?
A. Availability
B. Immediacy
C. Good quality
D. One-stop shopping
10. Customers often remember sincere gratitude, and it reminds them why they
hired your company or shopped at your store. What simple gesture you can do to
provide good customer service?
A. Say “goodbye”
B. Say “thank you”.
C. Say “good luck”
D. Say “yes.
Let’s Explore and Discover
UNLOCKING
OF DIFFICULTIES Do you know that in gaining customer is to earn
and build trust to them?
Relationship
Yes, because we don’t know
Marketing is a form of them. People make
marketing developed appointments to see us and
from direct response we just look what would suit
marketing campaigns them and that’s a good
that emphasizes thing. It will give them
customer retention confidence.
and satisfaction
rather than sales
transactions.
Customer a person or
thing of a specified
kind that one has to
deal with.
It is very important to have a marketing strategy because it will give you a
chance to know who your customer is and you will know what your
business is and why is it benefits them and you.
There are so many small businesses that might not always be able to keep up with
giant’s industries. But their competitive advantage of small business managers can
exploit is the personal touch with their customers.
Having the above in mind, the question becomes, what are the ways relationship
marketing can help you expand your business opportunities? Note that the latter
does not necessarily mean going into a business, or creating a product
other than the one you are known for.
What is Relationship Marketing?
Relationship Marketing focuses on building up customer loyalty. That includes
listening to customers, providing what they want, connecting with them on a
personal level and, customizing offerings for them. It is a form of marketing
developed from direct response marketing campaigns that emphasize customer
retention and satisfaction rather than sales transactions. Firstly, needs and
expectations are two different things; both are important. While needs cover
products and services, expectations deal with the delivery. Bringing it down to how
it expands your business opportunities; insight into customers’ expectations lets
you know what’s lacking in terms of delivery, and how you can capitalize on it.
Customer Customer
Loyalty Loyalty
Retention
Programs
Customization
Social
Communication Media
Feedback
Marketing
Relationship
Relationship Marketing contributes to business expansion opportunities:
It gives you an in-depth knowledge of the target market, and audience.
It gives you an understanding of the core values of the target market.
It brings to light people in a different locality who wish they had your
product. Referrals, which is one of the advantages of relationship marketing,
will deliver this to you.
Nowadays we use “personal shopper” to be our middleman between our product
and our customer. They will identify who your target market is and they will tell
what is your product for.
