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Marketing And Management: Customer Relationship

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Question:

Discuss about the Marketing and Management for Customer Relationship.

 

Answer:

Important Activities that for Company are Necessary to Maintain Customer Relationship

The external environment in which an organization operates is dynamic, the only constant are the happy loyal customers. These customers ensure permanent business to an organization and the cost of retaining them is very low. One of the key factors in maintaining effective customer relationship is networking. Networking refers to connecting to the potential customers on various platforms such as Events, social media, product campaigns, the major benefit of networking is that it increases the existing customer base of the organization. Another way to build customer relationship is email marketing. E-mail marketing apart from being cost effective gives a personalised touch to the buyers. The E-mail sent should be precise and its content should generate value for the customers. In order to retain existing customers, engaging them into various loyalty program can prove to be very useful. Providing them with movie tickets or additional discount on the next purchase can retain customers from switching to the competitors. A small investment in these loyalty programs can ensure customer value and satisfaction (Solomon, 2014). Not only this, customers will feel valued if there feedbacks and complaints are addressed personally. By noting their issues an organization can build a relationship of trust with its customers (Charles, 2016).

 

Core Competencies Requirement for Sustainable Business

Sustainability in the business context refers to the designing and implementing strategies to ensure the long term growth and profitability of the organization in the industry. This includes involvement of the business in ethical practices or engaging in corporate social responsibility activities etc. The role of leaders in sustainability has been considered as very important (Casserley, 2010). In order to effectively implement the strategies, a leader should have a clear idea about the principles and core concept of sustainability and have a vision of making an organization a sustainable one in the future. A leader has the power and influence to motivate other achieve common goals of an organization and this can only be possible when they are self-motivated. They can only ensure strategic contribution of everyone when they are motivated to do so. Employee’s engagement in these strategies are very important as without their active participation the sustainability vision is cannot be achieved. The key to engaging them is communication. A leader should communicate their sustainability objectives to the every individual so that they feel valued and motivated to work hard. Also employees should be consulted for regular feedback and suggestions so that this interactive process can address issues of the sustainability strategies (CEM, 2013).

 

References

Casserley, T. (2010). Put sustainability at the heart of business and leadership. Retrieved from https://www.theguardian.com/sustainable-business/sustainability-business-leadership on 29 April 2017.

CEM. (2013). Defining a profession: core competencies for SUSTAINABILITY. Retrieved from https://www.ucem.ac.uk/wp-content/uploads/2016/01/sustainability_competencies_op-010713-web.pdf on 29 April 2017.

Charles, J. (2016). 5 Proven Ways to Build Customer Relationships That Stay Profitable. Retrieved from https://www.huffingtonpost.com/jeff-charles/5-proven-ways-to-build-cu_b_9665208.html on 29 April 2017.

Solomon, M. (2014). Building True Customer Loyalty, One Customer At A Time. Retrieved from https://www.forbes.com/sites/micahsolomon/2014/05/12/loyal/#4e1d3a165c9e on 29 April 2017.

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