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Finance and Accounting 2 - Assignment Example

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Finance and Accounting 2

The interaction made with the organization based on relationship marketing can prove to be a part of ongoing relationship between the customer and the organization and this is because through the interaction, which was done through mail, highlights the importance of relationship marketing in the competitive environment and can be said to be a competitive advantage for organizations. Based on the interaction it has been learned that P&G has been using digital tools in order to build one on one relationship with the customers so to enhance the innovative and marketing capabilities of the company. According to P&G CEO, Bob McDonald the company aims to create indispensable relationship with the brands and it is possible though digital technology. The interaction on relationship marketing which took place can evaluate the way organization is thinking and to what extent they are ready to incorporate change to cater the needs of the customers. P&G is known for its innovation and customers expects the same level of innovation, involvement from the company while dealing with the requirements of the customers, therefore the interaction with the management of P&G is definitely an advantage to gather more information about the strategies which are adopted by the company to cater the needs of its target customers (Marketing Governance, 2011). Based on the interaction it has been revealed that P&G builds relationship with the customers based on trust and transparency. The company provides individual with choices and information with respect to communication strategy. The interaction further tends to create value for the ongoing relationship between the customers and the organization a whole. In the competitive world it has become extremely necessary to build trust on the customers so that loyalty is maintained with respect to specific brands and for this relationship marketing plays an important role and can be related to ongoing relationship between the customers and the organizations. Based on the interaction with P&G management, it has also been revealed that it has developed website allowing customers to shop through the site rather than visiting the stores. The online retail market is the new buzz word and companies are following it to attract and retain new and potential customers. By developing e-store P&G has created an image for itself in the minds of the customers as an accessible brand made available to the customers at any point of time and also helps to retain them from shifting to another brand offering the same facility. P&G advertise the sites and hopes that the convenience of shopping online by the customers draws more and more customers to the site (NBC News, 2010). The online retail stores have proved to be effective and have helped many retail outlets to incur profit ad increase revenue. Most important, it creates a perception in the minds of the customers that the brands is accessible and P&G being a huge FMCG giant and involved in many different sectors, the customers would prefer to buy products from the company which would further result in customer loyalty for the brand. This way the brand will be able to keep up the long term relationship with its target market and also potential target customers. Therefore organizations and brands are dependent on the customers providing them with an upper hand in comparison to the companies. ...Show more

Summary

Discussion 2 Contents Discussion 2 3 Reference 6 Bibliography 6 Discussion 2 Interaction with Organization Discussion on recent interaction took place on an emerging topic termed as “relationship marketing” and the organization chosen for the discussion is Procter & Gamble, one of the top FMCG giants…
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Finance and Accounting Assignment 2 essay example
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