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v. t. e. Customer relationship management ( CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. [1] CRM systems compile data from a range of different communication channels, including a company's website, telephone (which ...
Customer profitability ( CP) is the profit the firm makes from serving a customer or customer group over a specified period of time, specifically the difference between the revenues earned from and the costs associated with the customer relationship in a specified period. According to Philip Kotler, "a profitable customer is a person, household ...
Marketing communications include advertising, promotions, sales, branding, campaigns, events, and online promotions. [3] The process allows the public to know or understand a brand and get a clear idea of what the brand has to offer. Brand awareness is the first stage, then brand preference over its competitors is the desired outcome.
Brand relationship. A consumer-brand relationship, also known as brand relationship, is the relationship that consumers think, feel, and have with a product or company brand (Fournier, 1998; Veloutsou, 2007). For more than half a century, scholarship has been generated to help managers and stakeholders understand how to drive favorable brand ...
Positioning is closely related to the concept of perceived value. In marketing, value is defined as the difference between a prospective customer's evaluation of the benefits and costs of one product when compared with others. Value can be expressed in numerous forms including product benefits, features, style, value for money. Origins
Customer relationship management. According to Das (2007), customer relationship management (CRM) is the "establishment, development, maintenance and optimization of long-term mutually valuable relationships between consumers and organizations". The official definition of CRM by the Customer Relationship Management Research Center is "a ...
In marketing, a company’s value proposition is the full mix of benefits or economic value which it promises to deliver to the current and future customers (i.e., a market segment) who will buy their products and/or services. [1] [2] It is part of a company's overall marketing strategy which differentiates its brand and fully positions it in ...
Customer support. Customer support is a range of consumer services to assist customers in making cost-effective and correct use of a product. [9] It includes assistance in planning, installation, training, troubleshooting, maintenance, upgrading, and disposal of a product. [9] These services may even be provided at the place in which the ...