22
marketing
program
builds
customers
relationships
by
transforming
the
strategy
into
action.
2.3.3
Consumer Relationship Management
Represents
the
overall
of
building
and
maintaining
profitable
customer
relationship by delivering superior customer value and satisfaction. It involves:
1. Relationship building blocks: costumer value and satisfaction
To build the customer lasting customer relationship is to create superior
customer
value
and satisfaction and the companies need to understand the
determinant of these important elements i.e.
-
Customer
perceived
value:
the
difference
between
total
customer
value and total customer cost.
-
Customer
satisfaction:
the
extent
to
which
a
product’s
perceived
performance matches a buyer’s expectations
2. Customer relationship levels and tools
Companies can build customer relationships at many levels, depending on
the
nature
of
the
target
market.
The companies must decide the level at
which they want to build relationships with different market segments and
individual customers, ranging from basic relationships to full partnership.
3. The changing nature of customer relationship
The
important
trends
in the way companies are relating to their customers
are as follows:
-
Relating with more carefully selected customers
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