Examines the benefits of using relationship marketing in business, using the home loan company, Countrywide, as a case study.
Written in 2005; 3,316 words; 9 sources; MLA; $ 94.95
Paper Summary:
This paper examines Countrywide's present use of relationship marketing in the form of excellent customer service. It also explores how Countrywide needs to continue development of relationship marketing in order to remain competitive in an ever-changing market. The paper looks at the division of Loan Administration Servicing, the arm of the company that handles customer service and, more specifically, the Department of Communications Compliance. The paper explores many facets of how Countrywide delivers relationship marketing not only through its services, but also in its policies, procedures and actions. These items are what make service possible. The paper examines the organization's attention to its current relationship marketing strategy. In doing this, it looks at marketplace and strategy, marketing approach, customer relationship management, and customer care programs. Throughout the paper, strategy is discussed as it pertains to the marketing of loan servicing. By analyzing the mirror images of Countrywide's influence, one can see the importance of relationship marketing to the process. Countrywide's credo has always been to not only think outside the box to fix problems, but to also continue re-thinking them. The paper also offers recommendations as to how Countrywide can continue to improve relationship marketing as part of its strategy to reach the consumer.
From the Paper:
"Still this emergence should not undermine the strengths that traditional methods bring to the audience. As these methods such as film, radio, print and word of mouth move to the central location of the Internet, e-marketing will be a mainstream concept every company will embrace as part of IMC. It is use of these methods, that allow the company to connect with the customer emotionally, allowing for an intimate connection. In this respect, Countrywide has benefited from its use of IMC because it has allowed the company to grow its customer base and that equals profit. This in turn has continued Countrywide's tremendous growth within the marketplace and encouraged economic development especially for its California headquarters."
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