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Discussion response

1.) Bryana

The concepts of marketing are well-suited for the long run. One of these concepts, relationship marketing, focuses on building a long relationship with the audience globally. The main motive of relationship marketing is to create a brand’s value and awareness about the product among the customers. This marketing concept is very good for the large business size, which can be very useful for the sales of goods and services.

he most interesting thing about this concept is that this approach is low in cost and can be long-lasting. This means that best use for any king of the market conditions. This marketing concept is one of the best techniques to make the customers buy a brand’s products for a long time. One of the best live examples of relationship marketing is email marketing, which is done to get attention and motivate the customers effectively and efficiently.

Customer relationship management (CRM) is not just the application of technology but is a strategy to learn more about customers’ needs and behaviors to develop stronger relationships with them. As such it is more of a business philosophy than a technical solution to assist in dealing with customers effectively and efficiently. Nevertheless, successful CRM relies on the use of technology. Most brand experts agree that becoming personalized, or relatable, is an essential element in building brand loyalty. That’s one reason why so many organizations now strive to put a face on their brand in the form a real human being. CRM can help your organization reach that level of relatability with your customers by providing the tools necessary for deeper employee engagement with customers.

For example, if all your customer information is stored in a single, accessible place, then when one of your employees can connect with a customer, he or she can do it in a personalized way. The result is that it’s easier for employees to relate to customers and helps humanize your brand.

A customer may initially look elsewhere during the decision-making process, but the way your employees knew what the customer needed when it needed it will have it turning back to your brand.

Reference:

Boone, L. E., & Kurtz, D. L. (2021).

Contemporary marketing.

Cengage Publishing.

Response 2.) Jayne

Marketing (Boone and Kurtz 2021) is the boosting of any product or service to address the needs of their customers. The five eras of marketing are production, marketing, relationship, social, and sales. Relationship marketing represents an era in which the product or service manufacturer strived to develop a relationship with all members unto the point of purchase.

The primary focus of relationship marketing is to produce a product or service that is satisfactory for the customer to become repeat customers potentially. For example, the manufacturer might develop a relationship with the vendors to purchase raw material only with them. In turn, the manufacturer might produce a commercial and mention what retailers sell the product. And the manufacturer can offer a seasonal discount to the retailer that benefits the customer through coupons and deals. The outcome is more products being sold to repeat customers, more raw materials purchased from vendors, and more produced to sell to retailers.

References:

Boone, L. E., & Kurtz, D. L. (2021). Contemporary marketing. Cengage Publishing. ISBN: 9780357461709

  
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