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Crm

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Transactional Vs Relationship Marketing

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Crm

  1. 1. Transactional Vs Relationship Marketing Transaction Relationship One off Exchanges Focus Ongoing Exchanges Brand Management Customer Management Short-term focus Time perspective Long-term focus Mass Communication Personal Isolated market research Feedback Ongoing dialogue Market Share Criterion for success Mind Share Profitability of transaction Critical metrics Lifetime value of customer Brand Equity Customer Equity
  2. 2. Brand Equity and Customer Equity • Brand Equity- value of having a well known brand name o High Quantitative Equity-Profit margins and market share o Low Qualitative Equity- associations of interest • Customer Equity- value of customer base in terms of future revenues o Value Equity- customer assess the value of products and services o Brand Equity- customer assess the value of the brand o Retention Equity- tendency of customer to stick with the brand
  3. 3. •Rihanna needs convenience on her side, as it facilitates an easy transaction •Big box retailers, iTunes, Rhapsody, Verizon, etc. •Ticketmaster Transactional Vs Relational •Dave Matthews have developed close relationship with their customers over the course of many years •offers a wide range of products only through their fan club and their own website •provides a high amount of fidelity(loyalty)

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