MOS 1021 Consumer Behaviour Chapter 14 Summary

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Western University
Management and Organizational Studies
Management and Organizational Studies 1021A/B
James O' Brian

MOS 1021 Consumer Behaviour Chapter 14 Alliance Data Example Customer Relationship Management CRM tool rooted in database technology allowing marketers to use individuals purchase information to customize offersretail conceptsLoyalty programs drive business loyaltyrewards cardsSimplest form of CRM using customer purchase data to encourage the purchase of additional itemsservicesCRM also uses customer data to refocus store layout instore merchandising product mixservice levels to better suit customer needscompany objectivesUsing modelling programs to slot the shopper into a life stageCRM professional needs to understand on an individual basis consumer interests projected share of wallet offer structures that will workhow best to communicate with the shopperCustomer Relationship ManagementOverall process of buildingmaintaining profitable customer relationships by delivering superior customer valuesatisfactionFocuses on using info about customers to create marketing programs that result in customer satisfactionSystem for funnelling info to 1 place that otherwise would be dispersed in a big company allowing employees
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