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The development and management of customer relationships - Essay Example

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The development and management of customer relationships

The most interesting fact is that word-of-mouth adverting penetrates into online environment becoming one of the adverting tools in the Internet.
Today, for many companies a website is the main tool on the basis of which the firm carries out the transactions flow between itself and the buyer. In indirect marketing the company utilizes the services of various types of independent marketing organizations or cooperative organizations that are located in the home country. When a manufacturer exports indirectly, the responsibility for carrying out the foreign selling job is transferred to some other organization. For instance, the Wee Ninja doll is one of the popular toys for children available online. Smiths and their partner use online marketing as one of the main tools of adverting and sales. They state that it is more "about personal taste and online conversation as they are about buying itself, although no products are sold on the sites" (Schneider, 2006).
As businesses compete in a progressively fiercer market place for a larger wallet share of an increasingly discerning and diverse customer base, they become ever more communication-dependent. On the one hand the right to be informed of the facts involved in any buyer-seller relationship is clearly a fundamental right. Some of the key aspects, which have already been subject to legislation or regulation in Europe, include the full cost of credit/loans taken up, often known as 'truth-in-lending'; the true cost of an item, under the slogan 'unit pricing'; the basic constituent elements of products, known as 'ingredient informative labeling'; the freshness of foods, discussed generally as 'open-dating'; and 'truth-in-advertising'. "Patti Freeman Evans, a senior retail analyst at Jupiter Research, added: "Shopping tends to be a social experience in the offline world" (Schneider, 2006).
The emergence of direct marketing, customer relationship management, and various other marketing disciplines underline the importance of this approach. Recent years the sending of marketing materials to individuals is regulated in the USA and Europe. As Internet marketing is essentially a matching process between the needs and expectations of customers, and the organization's ability and capacity to satisfy them, the aim of the company is to create a good website to meet the needs of the customers and attract new clients.
The most interesting was the fact that online marketing 'borrows' tools from traditional marketing such as word of mouth adverting. At this point, the individual either makes an initial purchase (in the case of the more expensive product) or continues to purchase-adopts and exhibits brand loyalty to-the less expensive product. Studies show that, as a person moves from the evaluation through trial to adoption, personal sources of information are more important than impersonal sources. It is during these stages word of mouth become major persuasive forces affecting the decision to buy. During the past Chrisman season early word-of-mouth buzz among influential consumer groups quickly achieved phenomenon status that then spreads over the USA. The comment that "We expect more as the Christmas season really gets going. For us, that's amazing since we don't advertise there. It's all word of mouth. And when that happens people tend to come back" (Schneider, 2006).

The main criterion used in the analysis is the level of customer satisfaction ...Show more

Summary

The development and management of customer relationships has, in recent years, become a central focus of marketing as it has been realized that they are valuable assets of a firm. Businessmen from the advertising industry should take the following key issues into account while planning their marketing communication process…
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The development and management of customer relationships essay example
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