MKTG 2150 Lecture Notes - Lecture 2: Customer Relationship Management, Customer Retention, Brand Equity
8 Feb 2020
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Document Summary
Customer relationship management: crm the overall process of building and maintaining profitable relationships by delivering superior customer value and satisfaction, customer acquisition, customer retention, customer reacquisition. What is customer experience management: cem managing customer interactions to build brand equity and improve long term profitability, human, static. Social media and crm: keeping track of what"s said about brands on social media platforms, real time gauge of what people think, analytics help to understand the customer relationship better. Increasing loyal customers can be a marketing objective. Database marketing: share of wallet the percentage of a customer"s purchases that a company has in a specific product category, frequency of spend the amount a customer purchases and how often they purchase.
