Describes and applies the 4Cs of customer relations management (CRM).
Written in 2009; 885 words; 6 sources; APA; $ 31.95
Paper Summary:
This paper explains that, while the traditional 4Ps of marketing capture the essential functional areas required to create a marketing strategy and plan, it does not provide a framework for defining and measuring lifetime customer value. The paper then presents the 4Cs--customer value, lower costs, better convenience and better communication--that support the marketing paradigm shift, which places prime value on maximizing customer loyalty over the long-term through customer relations management (CRM). The paper relates the ways that a CRM system can create a value-add on for the dealer while being a means of aligning unmet customer needs for the manufacture.
Table of Contents:
From the 4 P's to the 4 C's: Customer Value, Lower Costs, Better Convenience, And Better Communication.
CRM Applied to a Computer Chips Manufacturer/Dealer Conflict
From the Paper:
"Costs also are part of the unique value proposition of companies who operate in highly commoditized industries as well. Better convenience is a direct result of the use of the Internet for streamlining supply chains and making products and services more accessible on the one hand, and the increasing time pressures consumers are under continually on the other. Convenience became critical when the majority of married couples had both spouses working in either part-time and full-time jobs."
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