Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Question
Design a Customer Benefit Package that you would utilize to ensure you keep your high-value customers happy and returning.
Expert Solution
Step 1: Define CRM
Note: The answer has been framed in a generalized manner.
Customer relationship management (CRM) is an organization's approach aimed at establishing and preserving long-lasting connections with customers. In order to better understand customer tastes, anticipate their requirements, and deliver tailored experiences, tools, procedures, and data are used. Companies want to improve customer satisfaction and loyalty, which will in the end encourage business development by establishing such connections.
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