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Relationship Marketing ppt 31

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Relationship marketing is a philosophy of doing business. It is improving the relation between in company and customer.

Relationship marketing is a philosophy of doing business. It is improving the relation between in company and customer.

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  • 1. Relationship Marketing ANKIT ALREJAROLL NO. 808906320010 SVIMT (SVIET)
  • 2. INTRODUCTION
  • 3. Relationship Marketing (or relationshipmanagement) is a philosophy of doingbusiness, a strategic orientation that focuseson keeping and improving currentcustomers rather than on acquiring newcustomer.
  • 4. What is relationship marketing? Marketing designed to create,maintain, and enhance strongrelationships with customersand other stakeholders.
  • 5. Six Types Of Markets1. internal markets2. supplier markets3. recruitment markets4. referral markets5. influence markets6. customer markets
  • 6. Customer Lifetime ValueLosing an existing customer meanslosing the entire revenue streamthat customer represents – not justthat single encounter or sale.
  • 7. Attracting, retaining and growing customersCustomer delivered value – the difference between total customer value and total customer cost. Value includes product, services, personnel and image value. Cost includes monetary, time, energy and psychic costs.
  • 8. Growing “share of customer” Increasing the share of the customer’s purchasing in your product category. Best way is through cross-selling  Getting more business from current customers by selling them additional or complementary services
  • 9. Managing your customers Relationship marketing is designed to create, maintain, and enhance strong relationships with profitable customers and other stakeholders. First need to define what your profit is on specific services…
  • 10. How to calculate profit In most business: Gross income – (cost of goods + expenses) = net profit In healthcare: Reimbursement income – (cost of goods + expenses) = net profit
  • 11. STRENGTHS OF RELATIONSHIP MARKETING Focus on providing value to customers. Emphasis on customer retention. it provides a better basis for achieving Competitive advantage. Long-term customers may initiate free word of mouth promotions. Long-term customers are less likely to switch to competitors. Happier customers may lead to happier employees
  • 12. PROCESS Chart the service delivery system. Identify critical service issues. Set service standards for all aspects of service delivery. Develop customer communication systems. Train employees on building and maintaining a good relationship with clients. Monitor service standards, reward staff for exceeding service levels. Each employee fully understands the importance of quality and relationships in the marketing philosophy.
  • 13. RESEARCH METHODLOGYMeaning of Research:Research Methodology is a way to systematically solve the research problem .RESEARCH DESIGN:It is a major plan specifying the method and procedure for collecting and analyzing the needed information. It is framework within which research will be conducted. It mainly includes following factors :Means of obtaining the information.Availability of time.Availability of cost factor.Skills of the researcher.Sample size:I interviewed 25 wholesalers & 25 retailers
  • 14. RESEARCH OBJECTIVES To find out how organizations devise their relationship strategies. To find out the foundations for successful relationship marketing. To find out the correlation between customer & relationship strategies. To find determine the benefits of long term relationship for firms &customers.
  • 15. SOURCES OF DATA COLLECTIONPRIMARY SOURCES: The primary sources will be Questionnaire through survey will be administered to the company managers .SECONDARY SOURCES: Website and books will be used for obtaining data.
  • 16. DATA ANALYSIS ORINTERPERATION
  • 17. QUESTIONER FOR COMPANY’S EMPLOYERSQ-1. Does your organization believes is having long term relationship with customers?1) yes 2)no Yes NoINTETRPRETATION :Above figure of the data tells about that 80% employees are believes in long term relationship with customers. But 20 % employees don’t believe in long term relationship with customer
  • 18. Que -2. What kind of incentive you provide to yourcustomer to have a relationship with him? financial Financial incentive. incentive Social bonding. social bonding Customization incentives. customizati All of the above on incentive Any other. All of the above Any others INTETRPRETATION : Above figure of the data tells about that company’s employs says that they provides 50% customization incentives 30% they provides financial incentives 10% provides social bonding to the customer
  • 19. Que -3. “Customer is always right” do you agree? 1) always 2)some time 3) never always some thing neverINTETRPRETATION : Above figure of the data tells about that80% employs are says that customer is always right and 10%customer some time right and other 10% customers are never rightbelieves in long term relationship with customers
  • 20. Que-4. Does relationship management provide benefits to the firm? 1) yes 2) no Yes NoINTETRPRETATION : Above figure of the data tells aboutthat 80% employees are says that relationship managementprovides benefits to the firm and 20% employ says relationshipmanagement doesn’t provide any benefits to the firm.
  • 21. LIMITATIONS: Study has been restricted to Punjab & Haryana Only and findings may not be reflect the true picture of users spread over entire nation. Sample size of 20 customer& 10 company’s employers has been taken due to time constraints which may be considered too small a sample to predict 100% results. Shortage of time is also reason for incomprehensiveness. The views of the customers & company’s employers are biased therefore it doesn’t reflect true picture
  • 22. CONCLUSION The research was of customers & company’s employers attitudes towards the relationship marketing. Over all it was resulted in very interesting a positive attitude. This research has shown that the customers & company’s employers who are using the service have a higher level of satisfaction after consuming their needs. This research had shown that the keen interest of customers & company’s employers on this service of its good level, service. More over they want to take another new service like this in the future.