Bundle: Contemporary Marketing, Loose-Leaf Version, 17th + LMS Integrated MindTapV2.0 Contemporary Marketing, 1 term (6 months) Printed Access Card
17th Edition
ISBN: 9781337493819
Author: BOONE, Louis E., Kurtz, David L.
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 11, Problem 1ALR
Summary Introduction
To discuss: The benefits of relationship marketing and the way database technology helps the firms to build the relationship with customers.
Expert Solution & Answer
Explanation of Solution
The benefits of relationship marketing:
Relationship marketing helps the firm to maintain and develop the cost effective relationship and longer term relationship with the suppliers, individual customers, employees to increase the sales and for mutual benefits.
Database technology:
Database technology helps the firms to analyze the details and data about the customers for the purpose of advertisement and promotions.
It makes the firm to know more about the customers through these data to build a relationship among them.
It helps to improve and increase the customer relationship, customer retention, referral rates and many others.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Find a company that has gone global. Research details of a multinational company.
Copy the Organization website link here:
Who is the organization?
What is the product or service? Are there any changes in the product or services in the various locations?
What are some of the External Environment Factors Facing this global Market?
Example: Culture? Natural resources? Economic & Technological Development? Political Structure? Demographic Makeup?
What is the economic development of the majority of the countries your company is present in?
Developed or less developed Country?
How is this company using Social Media to reach their global Marketing?
Provide a sample of the global advertising for this company, provide a picture or a video.
Now, you are working on the last section of your Portfolio Project. This week you will complete the following:
You have proven to the management team that you have carefully considered the cultural aspects of expanding the business into a new country. They would like to hear your specific plans for ensuring operational success in their next meeting. Prepare a report addressing the following topics:
Strategic Management: Discuss the critical factors of the Strategic Management Process important to successful operations in your country.
Organizational Structure: Discuss the type of organizational structure that will be most effective in the new location including the manufacturing facility.
Control and Monitoring Systems: Discuss your plan for control and monitoring systems issues for the expansion and operations within the manufacturing facility.
Staffing and Compensation: Discuss how you will staff the operation and how you will compensate the employees and any training that will…
Economic growth has slowed in recent years in many developed markets. In order to continue growing, large corporations are expanding into international emerging markets, such as China and India. And while some are targeting a new emerging middle class in these regions, many corporations like Procter & Gamble (P&G), Panasonic, and Unilever are searching for ways to reach a largely untapped demographic: the global poor who live on less
than $2 per day.
As discussed in the chapter, single- or small-use packaging has been a popular strategy for Unilever and other multinationals in rural and emerging markets. Other companies have tried to simplify more complex and costly designs to drive prices down for poor consumers. However, simplifying design and lowering other costs has not been enough to successfully penetrate the lowest level of the economic pyramid. Panasonic’s head of overseas consumer products, Hitoshi Otsuki, said that, “If it starts with a Japanese product or Japanese…
Chapter 11 Solutions
Bundle: Contemporary Marketing, Loose-Leaf Version, 17th + LMS Integrated MindTapV2.0 Contemporary Marketing, 1 term (6 months) Printed Access Card
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.Similar questions
- Culture refers to the common set of values shared by its citizens that determine what is socially acceptable. For this assignment explore some of the key characteristics of a specific culture. You can choose a country of your choice and research as much details about their culture as possible, don’t forget to include visuals. What country? What is the language and culture Idioms? Describe their customs and traditions? What re the important values of this culture? Summary: What do you think would be some expectations for anyone doing sales presentations in this country? Notes and references:arrow_forwardWhat is a good response to this statement? As we know, several global retailers target densely populated regions such as China or India as they represent emerging markets and great potential for maximum profits. As many have stated in this discussion, these retailers tend to exploit workers in these regions by utilizing the nation's lax labor laws, health and safety standards, as well as their lack of rights within the region. However, some do not discuss the cultural appropriation or pandering that these companies exercise in an effort to maximize their profits. There are instances of companies utilizing cultural elements such as symbols, traditional designs, or culturally significant images on mass produced items without understanding the meaning or showing respect to that significant meaning. Retailers sometimes utilize these culturally significant images or symbols to maximize their profits without acknowledging where it comes from or giving back to the community they took it from.…arrow_forwardWhat is a good statement to this post? One ethical issue that stood was how global retailers sometimes enter international markets without creating fair partnerships within their distribution channels. In Chapter 15, it talks a lot about the importance of building strong relationships with local intermediaries, but the reality is, some companies just try to dominate the market instead of collaborating. That power imbalance can lead to unfair contracts or local businesses getting pushed out. It’s like they show up, use the local resources and networks to make profit, but don’t invest back into the community or share the success. That’s not right. If you’re going to expand globally, you should be willing to build genuine partnerships, respect the local market, and not just focus on control and profit (Cateora, Gilly, & Graham, 2020). It’s all about being ethical and intentional with how you grow.arrow_forward
- What is a good response to this comment? One major ethical issue global retailers face when expanding into markets like China and India is the risk of worker exploitation. Many retailers outsource production to factories in these regions because of lower costs, but those savings often come at the expense of labor rights. Long hours, unsafe conditions, and poverty wages are still common, especially when oversight is weak (Locke, 2013). Companies often claim ethical standards but turn a blind eye to what happens deeper in their supply chains. This disconnect damages credibility and harms real people. Ethical branding should not stop at borders. If a brand markets fairness or sustainability, it must apply those values globally or risk being seen as performative (Crane et al., 2019).arrow_forwardWhat is a good response to this comment? One major ethical issue global retailers face when expanding into markets like China and India is the risk of worker exploitation. Many retailers outsource production to factories in these regions because of lower costs, but those savings often come at the expense of labor rights. Long hours, unsafe conditions, and poverty wages are still common, especially when oversight is weak (Locke, 2013). Companies often claim ethical standards but turn a blind eye to what happens deeper in their supply chains. This disconnect damages credibility and harms real people. Ethical branding should not stop at borders. If a brand markets fairness or sustainability, it must apply those values globally or risk being seen as performative (Crane et al., 2019).arrow_forwardElizabeth Corp. sold 3,800 units of its product at a price of $92.25 per unit. The total variable cost per unit is $63, consisting of $41.50 in variable production cost and $21.50 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing. a. $192,850 b. $94,960 c. $196,140 d. $333,900 e. ($139,180)arrow_forward
- Company: Home Depot Who is the company’s target market? What type of competitive advantages do they hold if any? SWOT analysis?arrow_forwardYour memo should include a beginning, middle and end. The beginning section of the memo should serve as an opening summary of the contents of your memo. It should be clear and concise and lay out the goal of the analysis that is presented in the memo. The main purpose of the opening is to allow the manager, in this case Mrs. Walker, to make a quick scan and determine the subject of the memo. The middle section of the memo should describe the current situation, the data used in the analysis, the method of analysis, the model used to analyze the questions and the results that were found. The discussion of the current situation should be brief, providing a context for the analysis, but not rehashing a lot of the information that the audience for the memo would already know. (For example, in the case you do not need to include the entire history of the business.) In describing the data, you should indicate which data you used and why you used it (and why you did not use some of the…arrow_forwardEthical decision making includes several influential factors, Except Question 15Answer a. Extent of problems b. Probability of Harm c. Social consensus d. All of the above e. Top management actionsarrow_forward
- _____ is the strategy of increasing sales by introducing new products into new markets. Question 10Answer a. Product penetration b. Market penetration c. Product development d. Product developmentarrow_forwardGo to the following link: Forbes TOP companies with the Best CSR reputations. https://www.forbes.com/sites/vickyvalet/2018/10/11/the-worlds-most-reputable-companies-for-corporate-responsibility-2018/#480e6d813371 Be prepare to share your findings in class. Please write your answers in complete sentences. Choose an organization with best CSR Visit the organizations website and copy link to their website below Does the company have a societal marketing orientation, or is it a company that is known solely for their corporate giving? Explain. How is this company practicing CSR? Provide examples Discuss how customers would know this company is a socially responsible company by looking at their website. Please provide examples of your findings below.arrow_forward1. Explain the role of social media in communication? 2. What are the three types of communication thru social media? 3. Provide a picture demonstrating one type of social media communication for an organization of your choicearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
- MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing
Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage Learning
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning