Loyalty and Relationship Marketing

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Presentation transcript:

Loyalty and Relationship Marketing The new focus in marketing is to create longterm relationships with customers Loyalty marketing focuses on long-term relationships with a lot of customers (mass customization) The shift from mass marketing to customized marketing will have an impact on the marketing approach tomorrow: The relationship marketing is not a completely new concept. Especially the marketing concepts of key account management helped the loyalty approach to become what it is today (see below). Marketing today ... Objective: to make a sale. Sale is the end of a customer relationship. Buyer and seller are independent. Focus on products (mass production). Anonymous customer. Customer buys values. Costs + profit = price. One way communication. Products and resources determine the activities. Marketing tomorrow... Objective: To create a Customer. Sale is the beginning of a customer relationship. Buyer and seller are dependent from each other. Focus on overall value creation and customer service (mass customization). Known customer. Customer creates values. Price - Profit = Costs (Target Pricing) Two way communication. Relationships determine the activities. Source: Wehrli 1994 Customer focus Time focus long-term short-term Individual Mass Key Account Marketing Transactional Marketing Mass Marketing Loyalty Marketing