MNM3712 Customer Relationship Management
2017 Exam Preparation Notes and Summary
Notes combine textbook, study guide, mind maps and lecturer notes into one document.
Hi, thanks for the feedback. This however was exam preperation and not the exam pack. That is a different set or part of the bundle.
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MNM3712 Customer Relationship
Management
2017 Exam Preparation Notes and Summary . By: Dubst3phs
NB: Don’t use bullet points in the exams.
TOPIC 1: THE TRADITIONAL MARKETING APPROACH
Study Unit 1: The Traditional marketing approach
1.1 The MARKETING CONCEPT
Focusses on researching customers’ needs and wants and hen leads the manufacturing of a product/service
that satisfies that need
Principles that must be practices achieving the marketing concept
• Consumer orientation
• Profit orientation
• Organisationnel intégration
1.2 THE TRADITIONAL MAREKTING APPROACH
Elements of the traditional marketing approach
• Marketing mix
o Product
o Place
o Price
o Promotion
• Transactional marketing
o AIM: generate a transaction/sale
o Exchange between customers and businesses
o Getting rid of outdated practices
o Generating more than one transaction from a customer (relationship marketing)
o Customers are cheaper to keen than to get new ones (saves money)
• Market segmentation
o Traditional approach
▪ Divide total market into similar sub-markets of customers
o Focus more on specific audiences rather than the masses
Study Unit 2: The Relationship Concept
2.1 RELATIONSHIP MARKETING
Attracting, maintain and enhancing customer relationships with the objective of
• Identifying
• Establishing
• Maintain
• Enhancing
• Terminating relationships
Dimensions of relationship marketing
➢ Create new value
➢ Understanding key roles customers play
➢ Aligns process, communication, technology and people to support customer value
➢ Co-operation between buyers and sellers
➢ Looks at value of customers purchasing lifetimes
➢ Build relationships between businesses and stakeholders
➢ Knowing the profitable customers
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