Showing papers on "Relationship marketing published in 2001"

Mining the network value of customers

Abstract: One of the major applications of data mining is in helping companies determine which potential customers to market to. If the expected profit from a customer is greater than the cost of marketing to her, the marketing action for that customer is executed. So far, work in this area has considered only the intrinsic value of the customer (i.e, the expected profit from sales to her). We propose to model also the customer's network value: the expected profit from sales to other customers she may influence to buy, the customers those may influence, and so on recursively. Instead of viewing a market as a set of independent entities, we view it as a social network and model it as a Markov random field. We show the advantages of this approach using a social network mined from a collaborative filtering database. Marketing that exploits the network value of customers---also known as viral marketing---can be extremely effective, but is still a black art. Our work can be viewed as a step towards providing a more solid foundation for it, taking advantage of the availability of large relevant databases.

Investments in Consumer Relationships: A Cross-Country and Cross-Industry Exploration

Abstract: This research, investigating retailer-consumer relationships, has three distinct intended contributions: (1) It shows that different relationship marketing tactics have a differential impact on consumer perceptions of a retailer’s relationship investment; (2) it demonstrates that perceived relationship investment affects relationship quality, ultimately leading to behavioral loyalty; and (3) it reveals that the effect of perceived relationship investment on relationship quality is contingent on a consumer’s product category involvement and proneness to engage in retail relationships. The authors empirically cross-validate the underlying conceptual model by studying six consumer samples in a three-country, transatlantic, comparative survey that investigates two industries.

A Framework for Customer Relationship Management

Abstract: The essence of the information technology revolution and, in particular, the World Wide Web is the opportunity afforded companies to choose how they interact with their customers. The Web allows companies to build better relationships with customers than has been previously possible in the offline world. This revolution in customer relationship management (CRM) has been referred to as the new "mantra" of marketing. However, a problem is that CRM means different things to different people. This article develops a comprehensive CRM model incorporating seven phases: database creation, analysis of the database, customer selection, customer targeting, relationship marketing, privacy issues, and new metrics necessary for evaluating the CRM effort. The article also discusses the implications of CRM for future marketing organizations.

Buyer-Supplier Relationships and Customer Firm Costs

Abstract: Academic literature and business practice are directing increased attention to the importance of creating value in buyer-supplier relationships. One method for creating value is to reduce costs in commercial exchange. The authors develop a model that explains how supplier behaviors and the management of suppliers affect a customer firm’s direct product, acquisition, and operations costs. The model proposes that these costs mediate the relationship between buyer-supplier relationship behaviors and the customer firm’s intentions to expand future purchases from the supplier. The model is tested on data collected from almost 500 buying organizations in the United States and Germany. The results indicate that increased communication frequency, different forms of supplier accommodation, product quality, and the geographic closeness of the supplier’s facilities to the customer’s buying location lower customer firm costs. In addition, customer firms intend to increase purchases from suppliers that provid...

On the conceptual link between mass customisation and experiential consumption: an explosion of subjectivity

Abstract: Marketing managers currently face an explosion of subjectivity. A glance at the business world reveals new solutions developed to offer customised products. Mass customisation is stressed by academicians in different ways. For example, relationship marketing emphasises the role of the relationship between a vendor and its customer, with particular reference to the importance of personal involvement and trust. Reading such phenomena as manifesting an explosion of subjectivity in consumption suggests an enhanced opportunity for applying the experiential view of consumer behaviour. This paper invites marketing managers, as well as marketing and consumer researchers, to recognise the changing environment more proactively and to embrace the increasingly well-established conceptions of the consumption experience more enthusiastically. Copyright © 2001 Henry Stewart Publications.

Diagnosing Customer Value: Integrating the Value Process and Relationship Marketing

Abstract: The concept of value and, more specifically, customer value is of increasing interest to both academics and practitioners. This paper undertakes a substantial review of past and current literature on value and categorizes this considerable body of research into nine streams of literature. Building on the emerging relationship marketing paradigm, it then proposes a framework for relationship value management. Nine core streams of value literature are identified and discussed: consumer values and consumer value; the augmented product concept; customer satisfaction and service quality; the value chain; creating and delivering superior customer value; the customer's value to the firm; customer-perceived value; customer value and shareholder value; and relationship value. To date, the core focus of most of this literature has been on the nature of value from the perspective of the organization and its customers – the customer–supplier relationship. However, it is argued that the emergence of the relationship marketing paradigm has emphasized the role of other stakeholders in building relationships. An existing multiple stakeholder model of relationship marketing, the six markets model, is introduced and is integrated with key concepts from the value literature to produce a conceptual framework for relationship value management.

Social Exchange Theory and Research on Business-to-Business Relational Exchange

Abstract: Social exchange theory (SET) has been used extensively by marketing scholars to explain business-to-business relational exchange. Despite its popularity as a theoretical explanatory mechanism, there is no recent literature review that delineates SET's foundational premises, how it has been used in the marketing literature, and its theoretical limitations. This article provides such a review and is intended to assist researchers who wish to use SET to examine business-to-business relational exchange.

SME marketing in practice

Abstract: Acknowledges that SMEs (small to medium‐sized enterprises) cannot do conventional marketing because of the limitations of resources which are inherent to all SMEs and also because SME owner/managers behave and think differently from conventional marketing decision‐making practices in large companies. In this context the discussion focuses on SME characteristics and how these impact upon marketing characteristics within SMEs. In a search for “alternative” marketing approaches, the inherent existence of the owner/manager’s “network” in its various guises such as personal contact networks, social networks, business networks and industry and marketing networks and how these networks are used is considered. Some evidence from an empirical study carried out simultaneously in Northern Ireland and Australia is presented which illustrates how and why networking is used by SME owner/managers as a tool or approach for carrying out meaningful marketing.

Knowledge management and data mining for marketing

Abstract: Due to the proliferation of information systems and technology, businesses increasingly have the capability to accumulate huge amounts of customer data in large databases. However, much of the useful marketing insights into customer characteristics and their purchase patterns are largely hidden and untapped. Current emphasis on customer relationship management makes the marketing function an ideal application area to greatly benefit from the use of data mining tools for decision support. A systematic methodology that uses data mining and knowledge management techniques is proposed to manage the marketing knowledge and support marketing decisions. This methodology can be the basis for enhancing customer relationship management. q 2001 Elsevier Science B.V. All rights reserved.

Modeling and managing student loyalty: an approach based on the concept of relationship quality

Abstract: The loyalty of customers is widely accepted as a critical factor in the long-term success of a service firm. In this article, the authors develop a model of student loyalty by combining the growing body of knowledge on relationship marketing in the context of services with insights from more traditional educational research. Their relationship quality-based student loyalty (RQSL) model proposes that student loyalty is mainly determined by the dimensions of relationship quality. The model also includes students’ integration into the university system and external commitment as second-order factors. The authors test the RQSL model using the structural equation modeling approach and empirical data from a survey of several German universities. Among other things, the results indicate that the quality of teaching and the students’ emotional commitment to their institution are crucial for student loyalty. However, there are clear differences between the results obtained from different courses of study.

Marketing of High-Technology Products and Innovations

Abstract: CHAPTER 1 Introduction to World of High Technology Marketing CHAPTER 2 Strategic Market Planning in High-Tech Firms CHAPTER 3 Culture and Climate Considerations for High-Tech Companies CHAPTER 4 Market Orientation and Cross-functional (Marketing/R&D) Interaction CHAPTER 5 Partnerships/Alliances and Customer Relationship Marketing CHAPTER 6 Marketing Research in High-Tech Markets CHAPTER 7 Understanding High-Tech Customers CHAPTER 8 TECHNOLOGY AND PRODUCT MANAGEMENT Chapter 9 Distribution Channels and Supply Chain Management in High-Tech Markets CHAPTER 10 Pricing Considerations in High-Tech Markets CHAPTER 11 Marketing Communication Tools for High-Tech Markets CHAPTER 12 Strategic Considerations in Marketing Communications CHAPTER 13 END-OF-BOOK CASES Is there more to Skype than hype? The Future of TiVo? Charting a New Course for Xerox: Strategic Marketing Planning Environmental Systems Research Institute (ESRI) Vision of the Future: Airbus 380 or Boeing 787 Dreamliner? Goomzee Mobile Marketing SELCO - India: Lighting the Base of the Pyramid Detailed TOC CHAPTER 1 Introduction to World of High Technology Marketing The Lexicon of Marketing Strategic Functional Tactical Defining High Technology Government-based Classifications Common Characteristics of High-Tech Environments: Implications for Marketing Strategy Types of Innovations The Contingency Model for High-Tech Marketing Framework for High-Technology Marketing Decisions SUMMARY APPENDIX A High Technology Industry Classification APPENDIX B Outline for a Marketing Plan CHAPTER 2 Strategic Market Planning in High-Tech Firms Competitive Advantage: The Objective of Marketing Strategy Resources and Competencies Tests of Competitive Advantage for Value, Rareness, and Difficulty of Imitation Key Strategy Decisions Strategy Types A Cautionary Note Strategy Creation: Approaches and Structures Marketing Performance Measurement Summary Appendix Funding and Resource Considerations for Small High-tech Start-ups Funding a High-tech Start-up Other Resources CHAPTER 3 Culture and Climate Considerations for High-Tech Companies Facilitators of a Culture of Innovativeness Top Management Attention Creative Destruction Managers' Willingness to Cannibalize Product Champions Skunk Works Learning Orientation Unlearning Expeditionary Marketing Risk Tolerance Compensation for Innovation Obstacles to Obtaining a Culture of Innovativeness Core Rigidities The Innovator's Dilemma Summary CHAPTER 4 Market Orientation and Cross-functional (Marketing/R&D) Interaction What It Means To Be Market Oriented The Effect of Market Orientation on Company Performance Dimensions of a Market Orientation Becoming Market Oriented: Facilitating Conditions Cross-Functional Interaction: New Product Development Teams and Marketing-R&D Interaction Cross-Functional Teamwork in Product Development R&D-Marketing Interaction Summary Appendix: What it Takes to Become Customer Focused CHAPTER 5 Partnerships/Alliances and Customer Relationship Marketing Partnerships and Strategic Alliances Types of Partnerships Reasons for Partnering Risks of Partnering Factors Contributing to Partnership Success Outsourcing: High Risks/High Opportunity Vertical Partnerships More Outsourcing Terminology Reasons for Outsourcing But Does It Work? Problems and risks in Outsourcing A Contingency Approach to Managing Outsourcing for Success The Future of Outsourcing Open Innovation Networks and Alliances for New Product Development Customer Relationship Management/Marketing Step 1: Identify "high potential" customers Step 2: Develop a customer acquisition strategy Step 3: Develop the customer portfolio management strategy Customer Relationship Management Software Summary CHAPTER 6 Marketing Research in High-Tech Markets Gathering Information: High-Tech Marketing Research Tools Concept Testing Conjoint Analysis Customer Visit Programs Empathic Design Lead Users Quality Function Deployment Prototype Testing Beta Version Testing Customer-Driven Innovation Biomimicry The Biomimicry Process Biomimicry Benefits Forecasting in High-Tech Markets Forecasting Methods Other Considerations in Forecasting Summary CHAPTER 7 Understanding High-Tech Customers Customer Purchase Decisions Problem Recognition Information Search Evaluate Alternatives Purchase Decision Post-purchase Evaluation Adoption and Diffusion of Innovations Factors Affecting Adoption of Innovation Categories of Adopters Crossing the Chasm Early-Market Strategies: Marketing to the Visionaries The Chasm Crossing the Chasm: A Beachhead and A Whole Product Solution Inside the Tornado The Choice of Customer Target Market: Segmentation, Targeting, and Positioning Divide Possible Customers Into Groups Profile the Customers In Each Segment Evaluate and Select a Target Market Positioning the product within the segment Customer Strategies to Avoid Obsolescence: Implications for upgrades and migration paths Customer Migration Decisions Marketers' Migration Options Consumers' Paradoxical relationships with Technology and Unintended Consequences Marketing Implications of Consumers' Paradoxical Relationship With Technology Summary CHAPTER 8 TECHNOLOGY AND PRODUCT MANAGEMENT Technology Mapping The "What to Sell" Decision Possible Options What Decision Makes Sense? Technology Transfer Considerations Product Architecture: Modularity, Platforms, and Derivatives Modularity Platforms and Derivatives A Cautionary Note on Issues Related to "Killing" New-Product Development The Role of Product Management in the High-Technology Company Developing Services as Part of the High-Technology Product Strategy Unique Characteristics of Services: Implications for High-Tech Marketing Intellectual Property Considerations Types of Intellectual Property Protection Rationale for Protection of Intellectual Property Managing Intellectual Property Summary APPENDIX Details on the Patenting Process International Patent Protection Online Resources for Intellectual Property Chapter 9 Distribution Channels and Supply Chain Management in High-Tech Markets Issues in Distribution Channel Design and Management Channel Structure Channel Management Channel Performance Managing Hybrid Channels: Effective Multi-Channel Marketing Step 1: Gather market data Step 2: Work towards harmonization following contingency theory Additional Considerations: Channel Relationship Quality, CRM, Compensation and Communication Emerging Considerations in Distribution Channels Distribution for "Digital" Goods: The Long Tail Understanding Gray Markets Black Markets, Piracy, and Restricted Exports Unique Distribution Requirements for Developing (BOP) Markets Supply Chain Management Matching Supply Chain Strategies to Uncertainty Supply Chain Management Technologies Outsourcing The "Greening" of the Supply Chain Summary CHAPTER 10 Pricing Considerations in High-Tech Markets The High-Tech Pricing Environment The Three Cs of Pricing Costs Competition Customers Customer-Oriented Pricing Steps in Customer-Oriented Pricing Implications of Customer-Oriented Pricing Pricing of After-Sales Service The Technology Paradox Solutions to the Technology (Pricing) Paradox Additional Pricing Considerations Outright Sale of Know-How versus Licensing Agreements Other Pricing Nuances: Usage Restrictions Price Promotions Summary CHAPTER 11 Marketing Communication Tools for High-Tech Markets Advertising and Promotion Mix: Integrated Marketing Communications Internet Advertising and Promotion Dealing with Disruption The Website's Part in Advertising-and-Promotion Strategy Website Design Build Site Traffic Evaluate Website Effectiveness Summary APPENDIX Web Analytics: Monitoring the Traffic at a Website Uses of Web Analytics Limitations of Web Analytics New Techniques in Web Analytics: Site Overlays and Geo-Mapping Web 2.0 Considerations CHAPTER 12 Strategic Considerations in Marketing Communications Branding in High-Tech Markets The Benefits and Risks of Branding Strategies Developing a Strong Brand Effectively Harness Web 2.0 Technologies and New Media Ingredient Branding Branding for Small Business New-Product Preannouncements Advantages and Objectives of Preannouncements Disadvantages of Preannouncements Tactical Considerations in the Preannouncement Decision Summary Appendix CHAPTER 13 Strategic Considerations for the Triple Bottom Line in High-Tech Companies Corporate Social Responsibility Debates Over and Criticisms of CSR Desired Outcomes from CSR CSR Domains: People and Planet Models of/Approaches to CSR Measuring the Outcomes and Effectiveness of CSR Initiatives Best-practices CSR for High-Tech Companies Serving Base-of-they-Pyramid Markets: Corporate Social Responsibility and Social Entrepreneurship Domains For "Intervention" Business Models/Approaches to Solving BOP Problems: Enlightened CSR and Social Entrepreneurship Ongoing Challenges and Keys to Success for BOP Strategies Criticisms of BOP Strategies The Digital Divide Solutions to Bridging the Digital Divide Responding to the Risks and Opportunities of Global Climate Change Best-Practices Environmental Strategy: A Four-Step Approach Challenges for Environmentally-Responsible Business Practices A Framework for Navigating Ethical Controversies Summary Concluding Remarks: Realizing the Promise of Technology Discussion Questions Glossary Appendix Application of A Framework to Address Ethical Controversies: Merck, Ivermectin, and River Blindness END-OF-BOOK CASES Is there more to Skype than hype? The Future of TiVo? Charting a New Course for Xerox: Strategic Marketing Planning Environmental Systems Research Institute (ESRI) Vision of the Future: Airbus 380 or Boeing 787 Dreamliner? Goomzee Mobile Marketing SELCO - India: Lighting the Base of the Pyramid

Relative attitudes and commitment in customer loyalty models

Abstract: Relationship marketing requires a thorough understanding of the long‐run perspective of the supplier‐customer interaction. The concept of customer loyalty can be applied to emphasize the behavioural and attitudinal aspects of this interaction. This study investigates the antecedents of future customer loyalty in the commercial airline industry by applying structural models under four prototypical past loyalty conditions. These conditions are based on behavioural and situational descriptors and labelled in analogy to Day’s compositional approach. It is shown that the superiority of relative attitudes claimed by Dick and Basu cannot be confirmed. Corporate image of the service provider is, along with service quality and customer satisfaction, a powerful and illustrative component for explaining future customer loyalty. When comparing the a priori defined conditions (low, latent, spurious, and true loyalty) it turns out that the structural evaluative differences can be partially interpreted by the phenomena which are described as affective and calculative commitment in the literature. However, it is claimed to consider situational factors such as the character of the buying and decision‐making process in much more detail.

Generating positive word‐of‐mouth communication through customer‐employee relationships

Abstract: In this study, we hypothesize and empirically test the proposition that interpersonal bonds, or relationships between employees and customers, can significantly influence positive word‐of‐mouth (WOM) communication. Such influence may be especially true for many services, particularly in situations where a relationship has developed between the customer and individual service providers. In this study we look at four dimensions of interpersonal bonds: trust, care, rapport, and familiarity. We contend that as a customer’s trust increases in a specific employee (or employees), positive WOM communication about the organization is more likely to increase and such trust is a consequence of three other interpersonal relationship dimensions: a personal connection between employees and customers, care displayed by employees, and employee familiarity with customers. These propositions are investigated using data collected from bank customers and dental patients, and we find empirical support for all but one of our hypotheses. A key finding is that the presence of interpersonal relationships between employees and customers is significantly correlated with customer WOM behavior. We conclude with a discussion of how interpersonal relationships between customers and employees might be fostered in order to increase the likelihood of customer WOM behavior.

Customer Equity: Building and Managing Relationships As Valuable Assets

Abstract: Preface Acknowledgments Customer Management: A Quiz Part I A New Marketing System Chapter 1 Managing the Customer as an Asset Chapter 2 Cornerstones of Customer Equity Part II Customer Strategies Chapter 3 Managing Customer Acquisition Chapter 4 Managing Customer Retention Chapter 5 Enhancing Customer Equity through Add-on Selling Chapter 6 Optimizing Customer Equity Part III Managing by Customer Equity Chapter 7 The Marketing Mix Chapter 8 Customer Equity Accounting Chapter 9 Organizing for Customer Equity Chapter 10 The Future of Customer Equity Appendix Issues in Computing Customer Equity Notes Index About the Authors

The Crm Handbook: A Business Guide to Customer Relationship Management

Abstract: Acknowledgments. About the Author. Introduction. I. DEFINING CRM. 1. Hello, Goodbye: The New Spin on Customer Loyalty. The Cost of Acquiring Customers. From Customer Acquisition to Customer Loyalty. . . . to Optimizing the Customer Experience. How the Internet Changed the Rules. What's In a Name? CRM and Business Intelligence. The Manager's Bottom Line. 2. CRM in Marketing. From Product to Customer: A Marketing Retrospective. Target Marketing. Relationship Marketing and One-to-One. Campaign Management. CRM Marketing Initiatives. Cross-Selling and Up-Selling. Customer Retention. Behavior Prediction. Customer Profitability and Value Modeling. Channel Optimization. Personalization. Event-Based Marketing. Customer Privacy--One-to-One's Saboteur? A Marketing Automation Checklist for Success. CASE STUDY: Eddie Bauer. What They Did. The Challenges. Good Advice. The Golden Nugget. The Manager's Bottom Line. 3. CRM and Customer Service. The Call Center and Customer Care. The Contact Center Gets Automated. Call Routing. Contact Center Sales Support. Web-based Self-Service. Customer Satisfaction Measurement. Call-Scripting. Cyberagents. Workforce Management. A Customer Service Checklist for Success. CASE STUDY: Juniper Bank. What They Did. The Challenges. Good Advice. The Golden Nugget. The Manager's Bottom Line. 4. Sales Force Automation. Sales Force Automation: The Cradle of CRM. Today's SFA. Sales Process/Activity Management. Sales and Territory Management. Contact Management. Lead Management. Configuration Support. Knowledge Management. SFA and Mobile CRM. From Client/Server to the Web. SFA Goes Mobile. Field Force Automation. An SFA Checklist for Success. CASE STUDY: Hewlett Packard. What They Did. The Challenges. Good Advice. The Golden Nugget. The Manager's Bottom Line. 5. CRM in e-Business. eCRM Evolving. Multichannel CRM. CRM in B2B. Enterprise Resource Planning. Supply Chain Management. Supplier Relationship Management. Partner Relationship Management. An e-Business Checklist for Success. The Manager's Bottom Line. 6. Analytical CRM. The Case for Integrated Data. A Single Version of the Customer Truth. CRM and the Data Warehouse. Enterprise CRM Comes Home to Roost. The Major Types of Data Analysis. OLAP. Where Theory Meets Practice: Data Mining in CRM. Clickstream Analysis. Personalization and Collaborative Filtering. An Analysis Checklist for Success. CASE STUDY: Union Bank of Norway. What They Did. The Challenges. Good Advice. The Golden Nugget. The Manager's Bottom Line. II. DELIVERING CRM. 7. Planning Your CRM Program. Defining CRM Success. From Operational to Enterprise: An Implementation Scenario. Determining CRM Complexity. Preparing the CRM Business Plan. Defining CRM Requirements. Cost-Justifying CRM. Understanding Business Processes. BPR Redux: Modeling Customer Interactions. Analyzing Your Business Processes. CASE STUDY: Verizon. What They Did. The Challenges. Good Advice. The Golden Nugget. A CRM Readiness Checklist for Success. The Manager's Bottom Line. 8. Choosing Your CRM Tool. Maintaining a Customer Focus: Requirements-Driven Product Selection. Defining CRM Functionality. Narrowing Down the Technology Choices. Defining Technical Requirements. Talking to CRM Vendors. Negotiating Price. Checking References. Other Development Approaches. Homegrown CRM. Using an ASP. A CRM Tool Selection Checklist for Success. CASE STUDY: Harrah's Entertainment. What They Did. The Challenges. Good Advice. The Golden Nugget. The Manager's Bottom Line. 9. Managing Your CRM Project. A Pre-Implementation Checklist. The CRM Development Team. CRM Implementation. Scoping and Prioritizing CRM Projects. A CRM Implementation Roadmap. Business Planning. Architecture and Design. Technology Selection. Development. Delivery. Measurement. Putting the Projects Together. A CRM Implementation Checklist . . . for Failure. The Manager's Bottom Line. 10. Your CRM Future. Making the Pitch: Selling CRM Internally. CRM Roadblocks. The Four Ps. Process. Perception. Privacy. Politics. Other CRM Saboteurs. Lack of CRM Integration. Poor Organizational Planning. Demanding Customers. Customer Service That's Really Bad. Looking Toward the Future. The Customer as SME. The Rise of Intermediaries. Digital and Broadband Revolutionize Advertising. The Threat and Promise of Customer Communities. CRM Goes Global. The Coming CRM Backlash? The Manager's Bottom Line. Further Reading. Glossary.

Choice of Supplier in Embedded Markets: Relationship and Marketing Program Effects:

Abstract: Recent research has documented how exchanges between buyers and sellers are frequently embedded in social relationships. An unresolved question, however, is the extent to which such relationships protect incumbent suppliers from new competitors and their marketing programs. The authors develop a conceptual framework of how relationship and marketing variables influence choice of supplier and test the framework empirically in the context of business-to-business services. The results show that interpersonal relationships between buyers and suppliers serve as a switching barrier but are considerably less important than both firm-level switching costs and marketing variables. Moreover, unlike switching costs, interpersonal relationships do not play the frequently mentioned role of a buffer against price and product competition. Finally, the authors show that buyers and suppliers hold systematically different views of the determinants of switching.

Customer relationship management in financial services: towards information-enabled relationship marketing

Abstract: Relationship marketing is concerned with how organizations manage and improve their relationships with customers for long-term profitability. Customer relationship management (CRM), which is becoming a topic of increasing importance in marketing, is concerned with using information technology (IT) in implementing relationship marketing strategies. This paper reports on a study of the adoption and use of CRM in the financial services sector. In particular, the key elements of CRM are examined in these organizations and executives' perceptions of the main IT components that enable responsive CRM are explored. CRM is classified into five stages of sophistication and a framework for CRM adoption is developed.

Impact of Information Technology Management Practices on Customer Service

Abstract: Recently,despite huge incentives and subsequent increases in investment in customer relationship management technology, many firms have not been able to increase their customer satisfaction index ratings. The purpose of this paper is to gauge whether IT management practices differ among firms where IT has a major role in transforming marketing, operations, or both, which give the firms advantage by affecting their customer service. Several research hypotheses are tested using data obtained from a survey of 213 IT-leaders in the financial services industry. The results clearly indicate that the IT-leader firms have a higher level of IT management sophistication and a higher role for their IT-leaders compared to IT-enabled customer focus, IT-enabled operations focus, and IT-laggard firms. This paper concludes with the implications for both researchers and practitioners.

Relationship Marketing: Exploring Relational Strategies in Marketing

Abstract: Brief Contents Part I RELATIONSHIPS 1. Relationships in Marketing 2. Relationships 3. Relationship Economics 4. Strategy Continuum 5. Relationship Drivers Part II THE CORE FIRM AND ITS RELATIONSHIPS 6. Customer Partnerships 7. Internal Partnerships 8. Supplier Partnerships 9. External Partnerships Part III MANAGING AND CONTROLLING THE RELATIONSHIP 10. Relationship Technology 11. Relationship Management 12. Back to the Future

Effects of Relationship Marketing on Repeat Purchase and Word of Mouth

Abstract: This study explores what kinds of relationship marketing activities affect relationship quality between customer-contact employees and hotel guests. In addition, this study investigates whether relationship quality influences relationship consequences such as commitment, repeat purchase, and word of mouth. This study will help hotel managers design guidelines for efficient relationship marketing activities. The effective use of relationship marketing strategies can increase repeat guests and positive word of mouth. To analyze data collected from 27 luxury hotels in Seoul, South Korea, structural equation modeling was used to discover a causal relationship. The empirical results of this study are twofold: Greater guest confidence and communication result in higher relationship quality, and higher relationship quality results in greater guest commitment and more repeat purchase and positive word of mouth.

Internet Marketing: Building Advantage in a Networked Economy

Abstract: Internet Marketing: Building Advantage in a Networked Economy, 2e presents a “road-tested” framework to help students and practitioners understand how to think about and implement effective Internet marketing programs. The focus is on using marketing levers to vary the level of intensity that the consumer has with a Website to build a relationship with the customer through four stages: from Awareness, to Exploration/Expansion, to Commitment, and possibly through Dissolution. This four stage customer-centric framework shows readers how to use the Internet to create intense and profitable relationships with their customers. In addition to comprehensively discussing the key levers that marketers can use to create relationships, the authors focus on two primary forces that the Internet brings to marketing – the Individual and Interactivity - detailing how these forces influence key marketing levers and how these forces can be leveraged to create intense relationships with customers. Table of contents Chapter 1: Introduction to Internet Marketing Part I: Framing the Market Opportunity Chapter 2: Framing the Market Opportunity Part II: Marketing Strategy Chapter 3: Marketing Strategy in Internet Marketing Part III: The Design of the Customer Experience Chapter 4: Customer Experience Part IV: Building the Customer Interface Chapter 5: Customer Interface Part V: The Design of the Marketing Program Chapter 6: Customer Relationships Chapter 7: Product Chapter 8: Pricing Chapter 9: Communication Chapter 10: Community Chapter 11: Distribution Chapter 12: Branding Chapter 13: Designing the Marketspace Matrix Chapter 14: Designing the Marketing Program for Lord of the Rings Part VI: Leveraging Customer Information Through Technology Chapter 15: Customer Information Systems: Leveraging Customer Information Through Internet Technology Part VII: Marketing Program Evaluation Chapter 16: Customer Metrics

A multidimensional study of the key determinants of effective SME marketing activity: Part 1

Abstract: This monograph is the consequence of a variety of experiences. It reflects an interest in SMEs and entrepreneurship stretching back almost 17 years from the author’s days in the fresh food industry. It reflects knowledge from a series of studies and projects in which the author has been engaged since commencement of an academic career in 1990. In particular, it reflects the findings of a five‐year piece of doctoral research that the author conducted with 57 firms in Ireland and the UK between 1995‐1999. The study seeks to identify the key determinants of SME marketing activity. The research objectives focused on determining a framework of marketing competencies for SMEs, the extent of formal marketing processes practised, and how SME marketing decisions are made. Further research objectives emerged (these were inductive in nature) that focused on determining the extent of the sales orientation in SMEs and on gaining insights into the use and character of the contact networks of the individuals who manage ...

Trust and relationship building in electronic commerce

Abstract: In e‐commerce, trust becomes an essential prerequisite for customer relationship building. Drawn from established theoretical work on trust and relationship marketing, a model is proposed aiming to help in highlighting the differences between traditional and e‐commerce and to facilitate thinking as to how trust can be built in virtual environments. Conceptualized in the context of an electronic servicescape, the model helps to demonstrate how agent and virtual reality technologies can facilitate the expressiveness required for the formation of trust through iterative interaction with promises being made, enabled and fulfilled.