Marketing MA Management and International Business Essay -- Business a

Marketing MA focus and International BusinessIntroductionCRM is a term for methodologists, technologies and e-commercecapabilities -used by companies to reign guest relationships.(Foss, 20011) It is also called customer management, customer c beand sometimes customer centricity or customer-centric management.(Brown, 20001)All the names and definitions of CRM have customer, as its core-it isthe management of customer relationships, which attempts torevolutionize marketing and reshape entire business shapes.To survive and set about the business must make a take in. To make a benefitit has to find people who are willing to pay more for itsproducts/ work than they cost. Therefore profit comes fromcustomers.All Profit comes from customersSo if no profit=no businessAnd no customers=no profitThen no customers=no businessTherefore customers ARE the businessThe idea of CRM is not new-it was the way the local shopkeeper treatedhis customer-he knew him, knew what was happening in his li fe, what hewas buying, (one to one marketing?) etc. What is new though is thatnowadays the retailers estimate to establish dialog with tens of thousandsor even millions of customers in an attempt to see to it them better,their individual needs and maximise the lifetime value of thisrelationship. In this jimmy it is not revolution of marketing, butrather evolution. The old model of doing business is back intoaction but armed with technology and divergent schemes to reach thecustomer and retain them for life.The four types of CRM programmes, described by Stanley (2000) areaimed at enabling the company to win back customers, who have defectedor are planning to, (Win Back or Save), to create loyalty amongcustomers (retail Loyalty), to up-sell or cross sell services to thesecustomers (Cross Sell/Up-Sell) and to prospect for new customers (Prospecting)Retail LoyaltyLoyalty is a feeling or attitude of abandoned attachment and affectionor the act of binding oneself (intellectually or e motionally) to acourse of action. (http//dictionary.reference.com)In everyday life loyalty implies emotional loyalty to family andfriends, fidelity in marriage. It also suggests monogamy-one choiceabove all others. (Humby et.al, 20039)In this sense loyalty is something expected. But when it comes to... ...ce a client, Always a Customer Dublin OakTree PressFoss, B., Stone, M., (2001) Successful Customer bloodMarketing London Kogan PageGilbert, D., (1999) Retail Marketing Management Harlow FT/PitmanHumby, C. et al., (2003) Scoring Points London Kogan PageOliver R. (1997) Research New York McGraw cumulusOmar, O (1999) Retail Marketing LondonFT ManagementReichheld, R. (1996) The involve for Loyalty Boston Harvard BusinessSchool PressDaley, J (2004) Is a toaster a fair swap for your loyalty as ashopper? The Independent (http//proquest.umi.com)Davis, H. (2002) Marketing is all about intellectual use of informationLoyalty GuideJones, K (2002) Are you exploiting the potential of your customer pedestal? Loyalty Guidehttp//www.at1.uk.com/Loyalty_Fundamentals.htmwww.bbc.co.uk/cgi-bin/search/results. asda+loyalty+schemewww.foodanddrinkeurope.com/news/news- -loyalty-cards http//www.mori.com/poll/2002/blacksun.shtml 2002)http//money.guardian.co.uk/(Datamonitor report by E.Ripley)www.mori.comhttp//news.bbc.co.uk/1/hi/business/52056.stmCross J. (2004) chew out notes Southampton, University College