2007 Pearson Education Canada1 Marketing 11 Chapter 1 Lesson 3: Relationship Marketing p

2007 Pearson Education Canada2 Relationship Marketing Model Suppliers Producer Wholesaler Retailer Consumer Common needs and joint objectives are established Each stakeholder is a partner in a long-term relationship Teamwork and cooperation replace conflict and competition Investment in technology required

2007 Pearson Education Canada3 CRM Customer Relationship Management Customer Relationship Management –Entire channel of distribution works together to the benefit of everyone –Each member along the chain must maintain a relationship with the others

2007 Pearson Education Canada4 Corporate Culture “The values, norms, and practices shared by all the employees of an organization.”

2007 Pearson Education Canada5 Attracting vs. Maintaining Customers Traditionally, marketers have focused on attracting new customers through the use of mass media. Traditionally, marketers have focused on attracting new customers through the use of mass media. – very expensive Relationship Marketing emphasizes a balance between attracting and maintaining customers. Relationship Marketing emphasizes a balance between attracting and maintaining customers. –Loyalty programs –Customer satisfaction

2007 Pearson Education Canada6 Strategic Alliance “A partnering process whereby two firms combine their resources in a marketing venture for the purpose of satisfying the customers they share.”

2007 Pearson Education Canada7 Strategic Alliance Examples Nissan + Toyota: Hybrid Vehicles Nissan + Toyota: Hybrid Vehicles –Same market, same customers Laura Secord + Hallmark Cards Laura Secord + Hallmark Cards –Different markets, same customers

Assignment Read p Read p Complete WSH 1.3 Complete WSH 1.3 Study for the test tomorrow Study for the test tomorrow 2007 Pearson Education Canada8