Brand Name – Definition, Features and Considerations behind naming a Brand
Brand name is one of the brand elements which helps the customers to identify and differentiate one product from another. It should be chosen very carefully as it captures the key theme of a product in an efficient and economical manner. It can easily be noticed and its meaning can be stored and triggered in […]
CRM (Customer Relationship Management) Software and Its Importance
CRM or Customer Relationship Management is a system that caters to the management of a firm’s interactions with past, present, and future customers. The CRM software integrates the entire customer relationship cycle by automating sales, marketing, customer service, and technical support. CRM software is a solution that automates the disparate and discreet aspects of the […]
Managing Brands over Geographic Boundaries and Market Segments
In current times every company is wanting to be a global player, some companies this out of compulsion, for some its natural extension, whatever the case companies need to have marketing programs, which can create and sustain brand equity across geographical boundaries and market segments. However, before studying the global view for marketing strategies, it […]
Defining Value Proposition
Business and market realities of present times are forcing Organizations to re-think of their strategies as well as of their way of functioning. Every function from internal operating process, business model to product design, logistics as well as marketing and advertising is undergoing change to keep pace with the times. Managements are adapting to the […]
Roles and Responsibilities of a Store Manager
Retail Store A fixed set up or location offering merchandise in small quantities to the consumers for their end-use is called a retail store. Store Manager An individual responsible for managing the overall functioning of the store is called a store manager. A store manager takes care of the day to day operations of the […]
Traditionally with Organizations the customers belonged to and were the responsibility of the Marketing Department alone. Organizations probably had too many constraints on meeting the demands and were saddled with limited product range that did not require them to look out and reach out to the Customer.
However with evolution of technology, mass production processes as well as expanding geographical markets, the Organizations began to realize the need to reorient their understanding of the business and the way to manage the business.
To a large extent we can very well say that the Customer Relationship Marketing did not originate only in the marketing department. It developed as an Organizational approach and management thought.
Management experts and Organizations have come a long way in terms of their outlook to the internal and external environment. Today Organizations have begun to understand and recognize the relationship that exists between the Stockholders, the Employees and the Customers who provide the reason as well as the resources for the Organization to exist and grow.
There exists a mutually inclusive relationship between all the three factors. Organizations need to manage the relationship dynamics on all the three fronts. This understanding has further brought about the Management thought and approach to orient and imbibe Relationship Marketing as an Organizational Philosophy.
An Organization does not recognize the customer in the market to be the only stake holder in its relationships. The Company has ongoing relationships both internally as well as externally at many levels and tiers.
The Company strives to build excellent and long term relationships with its strategic suppliers as well as the intermediaries important for its business. Sales and Distribution partners including whole sales, channel partners as well as point of sale retailers form a part of the chain which needs to be handled via the relationship platform.
The number of relationships that the Organization is required to manage are spread over several areas. Ongoing Relationship Management with Current Employees as well as prospective employees becomes very important for the Organization as the Human resource is a key resource for its business.
Besides the employees, suppliers, as well as the Customers and intermediaries, the Organization has a relationship that needs to be managed with the public, Government as well as media too.
Therefore it should be very clearly understood that Relationship Marketing is a business philosophy and not a marketing strategy. Of course Marketing strategy and plans are built around this Organizational philosophy and value of Relationship Marketing.
Managements have successfully adapted to the concept of internal and external Relationship Marketing and have benefited immensely from it.
Internally the concept of internal customer has yielded tremendous advantageous and brought about efficiencies in operations. TQM, JIT, Six Sigma philosophies have been successfully implemented thanks to the fundamental concept of internal customers and customer satisfaction.
Apart from marketing and sales functions which are exposed to the Customers and markets and hence need to be sensitized and oriented towards relationship management, the Organizations have realized the need to sensitize the other departments including Finance, HR, Technical Service, Customer Service as well as the Product Development and legal departments towards relationship Management with he customers. This orientation has benefited the Organizations immensely besides changing the service dynamics for the customers.
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