MKT 340 Lecture Notes - Lecture 2: Customer Relationship Management
31 May 2018
School
Department
Course
Professor
Building Partnering Relationships
A. Types of Relationships
Market Exchanges: one time sale (worst relationship type)
Functional: when we attach ourselves to vendors
Strategic partnership: he the relatioship is so strog that the ustoer ats like they’re o
the opay’s payroll est relatioship to hae
B. Characteristics of Successful Relationships
Trust: components—dependable, competent, customer understanding, honest, likeable (it
factor)
Open communication: ability to tell someone anything without fear of repercussions—do’t lie
because the more intelligent the person that you try to lie to, the worse it becomes
Common goals: similar interest
Commitment to mutual gain: when you feel you can accomplish more together rather than
separately
Organizational support: when more people believe in the relationship besides the two parties
C. Evolution of Personal Selling
Production concept: people will buy the more product available
Product concept: people will buy based on the features available
Sales concept: people will buy based on the amount of promotion spent
Marketing concept: take the total market and break it up into target markets and provide
marketing to each
Partnering concept: fewer clients, better service.
In order for a sale to be successful, 80% should be done by the prospect and only 20% by the
seller
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Market exchanges: one time sale (worst relationship type) Strategic partnership: (cid:449)he(cid:374) the relatio(cid:374)ship is so stro(cid:374)g that the (cid:272)usto(cid:373)er a(cid:272)ts like they"re o(cid:374) the (cid:272)o(cid:373)pa(cid:374)y"s payroll (cid:894)(cid:271)est relatio(cid:374)ship to ha(cid:448)e(cid:895: characteristics of successful relationships. Trust: components dependable, competent, customer understanding, honest, likeable ((cid:862)it(cid:863) factor) Open communication: ability to tell someone anything without fear of repercussions do(cid:374)"t lie because the more intelligent the person that you try to lie to, the worse it becomes. Commitment to mutual gain: when you feel you can accomplish more together rather than separately. Organizational support: when more people believe in the relationship besides the two parties: evolution of personal selling. Production concept: people will buy the more product available. Product concept: people will buy based on the features available. Sales concept: people will buy based on the amount of promotion spent. Marketing concept: take the total market and break it up into target markets and provide marketing to each.
