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Relationship Marketing

Customer Relationship Management

The overall process of building and maintaining profitable customer relationships by providing better customer satisfaction.

Customer relation Building Blocks

  • Deliver customer value
    • customer value is defined to be the difference between benefits and costs of a market offering relative to the competitors
  • Delight your customer
    • Customer experience
    • Customization and personalize communication
    • Feedback mechanism
    • Relationship marketing
    • Build and join communities

Customer Classification

Bases

  • Potential profitability
  • Projected loyalty

Classification

  • Strangers
  • Butterflies
  • True friends
  • Barnacles

Strangers

  • Low potential profitability
  • Low projected loyalty

Butterflies

  • High potential profitability
  • Low projected loyalty

True Friends

  • High potential profitability
  • High projected loyalty

Barnacles

  • Low potential profitability
  • High projected loyalty