33:799:301 Lecture Notes - Lecture 11: Permission Marketing, Upselling, Customer Service
10 Apr 2017
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Document Summary
Key tools and components of control relationship marketing. Cross-selling - occurs when a company sells an additional related or complementary product or service to an existing customer after the initial purchase. Up-selling - involves persuading a customer to buy a more expensive item or upgrade a product to make the sale more profitable. It also involves selling the customer extra features or add-ons to the product they are already buying or considering. Relationship or permission marketing - an approach to selling products and services in which a customer explicitly agrees to advance to receive marketing info. Customer defection analysis - the process of analyzing customers who have stopped buying to determine why this was it case. Churn is the process of customers changing their buying preferences because they find better or cheaper products and services elsewhere. Churn reduction is all of the efforts companies develop to stop losing customers to the competition.
