Management and Organizational Studies 1021A/B Chapter 14: MOS 1021 Consumer Behaviour Chapter 14 Summary
11 Jan 2012
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MOS 1021A/B Full Course Notes
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Customer relationship management (crm): tool rooted in database technology, allowing marketers to use individuals" purchase information to customize offers & retail concepts. Simplest form of crm: using customer purchase data to encourage the purchase of additional items/services. Crm also uses customer data to refocus store layout, in-store merchandising product mix & service levels to better suit customer needs & company objectives. Using modelling programs to slot the shopper into a life stage. Crm professional needs to understand, on an individual basis, consumer interests, projected share of wallet, offer structures that will work & how best to communicate with the shopper. Overall process of building & maintaining profitable customer relationships by delivering superior customer value & satisfaction. Focuses on using info about customers to create marketing programs that result in customer satisfaction. System for funnelling info to 1 place that otherwise would be dispersed in a big company, allowing employees to access one customer profile.
