Evaluates strategies for direct marketing.
Term Paper # 104320 |
2,970 words (
approx. 11.9 pages ) |
12 sources |
APA | 2008
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$ 52.95
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Abstract
This paper examines the ways that direct marketing can provide the operational framework through which direct relations with customers may be built and maintained. The paper stresses that, because the investments required to launch a direct marketing campaign are quite high, management has to evaluate rigorously the profitability of launching direct marketing campaigns. The paper then underscores the importance of the market research through all stages of the functional value chain. The paper then points out methods of evaluating direct marketing programs such as calculating the return on investment (ROI). The paper presents Dell, Inc. and Amazon.com as examples of direct marketing programs.
From the Paper
"A widely practiced strategy in launching this type of marketing program is to do a test run initially. Data collected from the test run will provide an indication of the level of response to be expected if the direct marketing campaign is launched. If the level of response is judged to be too low, then the management has to revise its procedures of selecting the right consumer segment. Because the costs of implementing direct marketing programs are high and because direct marketing programs usually generate a very low percentage of response, it is critical that the right consumer segment be selected."
Tags:relations profitability, market research, digital dell amazon
An overview of relationship marketing and its emphasis on the customer factor.
Term Paper # 129959 |
3,250 words (
approx. 13 pages ) |
8 sources |
MLA |
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$ 56.95
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Abstract
The paper relates that relationship marketing is an innovative new approach to marketing that, while having certain developmental relationships with older marketing disciplines, such as direct marketing, takes a long-term view of customer management. The paper explains that in this regard, relationship marketing is intricately related to a customer's product or service life cycles. The paper asserts that marketing in today's highly fractured media environment where gaining access to audiences takes a far more selective effort than in the past, requires ever more attention and even vestment in customer products and services.
From the Paper
"Relationship marketing is an innovative new approach to marketing that, while having certain developmental relationships with older marketing disciplines, such as direct marketing, takes a long-term view of customer management. In this regard, relationship marketing is intricately related a customer's product or service life cycles (McKenna, 1991, p.82). Marketing in today's highly fractured media environment where gaining access to audiences takes a far more selective effort than in the past requires ever more attention and even vestment in customer products and..."
Tags:relationship, marketing, customer
A discussion of customer centric as opposed to product-centric business approaches.
Comparison Essay # 96650 |
3,337 words (
approx. 13.3 pages ) |
14 sources |
APA | 2007
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$ 57.95
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Abstract
This paper examines the success of companies that shift from being product-centric to customer-centric. In companies that have a customer-as-king philosophy growth has been remarkable since adopting that outlook. Companies that focus on creating great products lag behind in the marketplace. 3M is used as an example of a company that changed its direction to customer-centric. The paper cites several articles that confirm this phenomenon. The paper concludes that companies that grasp the notion that business should be built around customers, not products, are setting themselves up for success.
Outline:
Resistance to CCS/CRM
Customer Relationship Management
CRM Origins
CRM Technology
Summary
From the Paper
"Beyond that problem, the basic problem with 3M's Web site was that it was concentrating all its "internal silos" rather than on "its customer's needs." So, 3M got synchronized, and now presents a more "unified fact to its customers" by storing all "customer relationships and product configurations" in a single database. This transformation from the awkward presentation of products and slipshod system of customer record keeping - similar to what Thompson Financial did - is called moving from a product-centric company to a customer-centric company. Instead of finding "customers for its products," both these firms (and untold hundreds of other companies) now concentrate on finding "products for its customers," Sawhney writes."
Tags:business, customer, centric, product, centric
An in-depth look at the taxonomy of the salesperson when interacting with the customers.
Research Paper # 97179 |
7,177 words (
approx. 28.7 pages ) |
43 sources |
MLA | 2007
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$ 96.95
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Abstract
This paper analyzes current research on salesperson and customer interactions. The paper includes the dynamics of buyer-supplier relationships, an overview of selling model definitions and research efforts used to validate them, and a comprehensive review of key findings from research into these areas. The paper intends to show specifically how salesperson-to-customer and buyer-to-supplier relationships are being clarified and made more effective through the research efforts of the theorists, educators, and practitioners mentioned in the paper.
Outline:
Executive Summary
Selling Approach in Buyer-Seller Relationships
Essentials of Relationship Selling
Principles of Adaptive Selling
Putting Dyadic Sales Techniques to the Test: Selling of Services
Taxonomy of Buyer-Seller Relationships Research
Organizational Buyer Behavior (OBB)
Buyer-Seller Relationships Models
Overview of the Dwyer, Schurr and Oh (1987) Model
Other Models of Buyer-Seller Relationship Stages
Buyer-Seller Relationships and the Values of the Salesperson
Buyer-Seller Relationships Trends and Future Direction
From the Paper
"The awareness stage is characterized as a bilateral interaction that marks the beginning of the next phase of the possible relationship (e.g., a general inquiry). It is only the recognition of the feasibility of a relationship. The second stage, exploration, is the search and trail phase. It has five sub-processes: 1) attraction, 2) communication and bargaining, 3) development and exercise of power, 4) norm development, and 5) expectation of development (trust plays an important role in this sub-process). Phase three is the expansion stage and refers to continual increase in benefits obtained by exchange partners and to their increasing interdependence. Commitment is the fourth phase that refers to the implicit and explicit pledge of relational continuity between exchange partners (e.g., top accounts). The criteria of this phase are inputs (i.e., what the parties contribute), durability (i.e., bonding is a factor in this criteria) and consistency. The final phase is dissolution that shouldn't be considered as a reversal according to Dwyer et al. (1987)."
Tags:incentives, cost-effective, skills, customer, orientation, buyer-seller, indicator, interpersonal, social, bonds
This paper compares the the use of the Internet email versus snail mail in direct marketing.
Research Paper # 98856 |
3,640 words (
approx. 14.6 pages ) |
20 sources |
APA | 2007
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$ 60.95
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Abstract
This paper relates that, although a number of marketers believe that email direct marketing campaigns are preferable to the use of snail mail, other critics suggest that snail mail marketing has a better return on investment (ROI) in terms of customer response and perceived legitimacy of the marketing process. The author points out that adventurous and technology sophisticated marketing methods, such as video and mobile marketing and the ability to organize and keep track of customer marketing responses, are advantages of the computer and the Internet. This paper concludes that email direct marketing should be used to keep in touch with clients and prospects who the marketer already knows; however, for unknown people, snail mail is more appropriate. The paper includes many quotations.
Table of Contents:
Introduction and Overview
Research Objectives
Importance of Topic
A Comparison between Email and Snail Mail
Snail Mail: Pros and Cons
Demographics
Summation and Assessment
From the Paper
"The subject of direct marketing in the age of the Internet has assumed a predominant position in discussions of business advancement and marketing development. The advent of email as a means of advertising and marketing has challenged many traditional modes and means of marketing and has created new avenues for the advancement in the direct marketing field. At the same time, email marketing is also subject to various problems which, when studied in context, affect the future of marketing in general. One of these aspects, namely spam mail, will be discussed in more detail below."
Tags:spam, roi, mobile, speed, space
This paper proposes a direct marketing campaign for the Maytag Corporation, marketing home appliances under household the brand names Maytag, Jenn-Air, Amana, Magic Chef, Hoover, and Jade.
Essay # 59823 |
950 words (
approx. 3.8 pages ) |
5 sources |
APA | 0
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$ 20.95
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This paper explains that, although Maytag is one of America's "Most Admired Companies," the company has been weathering some rough times, largely due to a fiercely competitive, mature market, and is now undergoing major restructuring. The author points out that Maytag may be losing an opportunity to build an ongoing relationship with its existing and prospective customers because, instead of using an umbrella direct marketing campaign to communicate the benefits of all the Maytag-owned brands, each brand is conducting its own campaigns. The paper relates the benefits of umbrella direct marketing; it (1) helps establish the link between its brands, (2) leverages Maytag long standing equity for the reliability and dependability of its products, (3) supports, not contradicts, the individual brands' positioning in conventional media, (4) procures a higher share of the customer wallet or home by cross-selling its various product offerings, and (5) entices customers into wanting to purchase products that "make their lives easier" before existing appliances wear out.
From the Paper
"The Maytag Direct Marketing effort would naturally have to start with building and profiling a data base of its existing and prospective customers. While the latter could be done through buying ready data bases that match Maytag's customer profiles, a good starting point for the former may be Maytag Stores and other retail outlets. The Maytag Stores especially would be an ideal source since they act as an innovation showcase for the company; are independently owned and operated; and offer a "try before you buy" approach. The incentive for customers to opt-in for Maytag's mailings could be a monthly newsletter on "Making Life Easier at Home." Not only will such a newsletter be in line with Maytag's overall business strategy, it is likely to be of high interest to all home owners and makers since they are constantly on the look out for tips on how to create an efficient and pleasant home environment."
Tags:newsletter, restructuring, umbrella, data-base, relationship
An in-depth investigation of the role of switching costs in influencing customer loyalty in the financial services industry.
Research Paper # 62037 |
12,900 words (
approx. 51.6 pages ) |
62 sources |
APA | 2004
|
$ 147.95
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Abstract
This investigation presents an in-depth study of marketing, its techniques and different applications depending on the climate in which the marketing takes places. The paper defines the elements of distinctions between traditional and e-marketing. It looks at how different companies - both financial and retail - currently use integrated marketing concepts in their relationship marketing strategy as a way to encourage customer service and therefore strengthen customer relations. The paper offers an in-depth look at the marketing tactics utilized by Countrywide Financial Corporation and its international offshoot of Global Home Loans, located in the United Kingdom. This includes some background history on the organizations and their relationship. This paper also defines important terms to allow better understanding of how marketing, cost and customer loyalty form a direct and vital relationship with each other, regardless of method, agent or presence they are applied to. The paper focuses on different attributes of how these concepts work together to make business practices possible. This includes an exploration of the techniques used to market a product. It also focuses on how market segmentation and demographics play an important role in defining the market place but also allow an organization to target the best possible "match" consumer for its product or service. The paper looks at how a proactive marketing analysis allows an organization knowledge of the consumer in order to build a lasting relationship. It also explores the implications of such marketing techniques and how different degrees of brand presence within the market can create different concerns regarding risk and too much exposure. This also includes any threat to protection of intellectual property as well as the organization's image and customer relations.
Paper Outline:
Introduction
Purpose of the Study
Company Profile
Literature Review: The Role of Switching Costs
Traditional Marketing Strategy-Brick and Mortar
Knowing the Market and Demographics
Globalization
Customer Loyalty
E-Marketing and E-Commerce
Implications and Concerns Regarding E-Marketing
Conclusion
References
From the Paper
"The best way to utilize marketing to an organization's best benefit is to simply know the market in which business is done. It is imperative a company knows its target and be flexible to new targets. An organization can remain at the forefront by having a cutting edge attitude toward change within the target audience. Gordon writes, "The mood of the marketplace profoundly affects a campaign's success. It is important to respond correctly" (2003, p. 1). Also to remain competitive, an active pace is needed. Instead of allowing the market to define the marketing strategy, the organization should strive to define the marketplace. This can be done through incorporating innovative ideas across the board."
Tags:Porter, technology, retail, ERP
This paper is a discussion of the topic of improvement of customer satisfaction with their banks.
Essay # 25977 |
2,758 words (
approx. 11 pages ) |
5 sources |
MLA | 2002
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$ 49.95
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Abstract
In an attempt to improve customer satisfaction, banks around the world are training and empowering employees directly involved in service delivery to undertake a broad range of tasks. The paper looks at what are the skills necessary to improve customer satisfaction, how to calculate the level of customer satisfaction, and methods of training employees to improve their ability to satisfy customers.
From the Paper
"In analyzing customer satisfaction as an adjunct of qualified activity-based management (ABM) four activities are typically considered: Costs, Quality, Time and Innovation. Most of the emphasis in the current business literature focuses on activity-based costs (ABC) and TQM (total quality management). This is probably because ABC and TQM are easier, or more convenient to measure. Results are more quantifiable. The analysis of time and Innovation are harder since those two terms dip into areas like "mind," "motivation," and other terms that are hard to chart and analyze (Trapp, 1997)."
Tags:banking, employees, innovation, motivation, service
An examination of what a direct marketing campaign is and how it is implemented in practice.
Essay # 46319 |
1,985 words (
approx. 7.9 pages ) |
4 sources |
APA | 2003
$ 37.95
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Abstract
Direct marketing involves communication by a marketer to a prospect, without an intermediary, via a medium that supports some degree of interaction. This paper explains how this concept has largely merged with the idea of database marketing, which involves the establishment and maintenance of quantities of data about prospects and customers, and is exploited in order to enhance the probability of making a sale to each of them. It explains how direct marketing is intrusive, both in relation to the privacy of personal behaviour and the privacy of personal data. The degree of sensitivity varies greatly, depending on the person, the data, and the context.
Table of Contents
Introduction
Definition of Direct Marketing
The Campaign Process
Campaign Plans
Setting the Campaign Objectives
Campaign Strategy
The Campaign Implementation
Conclusion
From the Paper
"Marketing communications are indirect, where marketer-prospect interactions are inhibited. This may be because the communication channel is one-way, as in the use of broadcasting media such as television, radio, newspapers and billboards. Alternatively, it may be because of the interposition of an intermediary of some kind that does not have a principal-agent relationship with the marketer, e.g. a shop assistant in a retail department store."
Tags:retail, data, context, communication
This paper discusses the use of a direct mailing marketing strategy in the telecommunications industry.
Essay # 62268 |
975 words (
approx. 3.9 pages ) |
2 sources |
MLA | 2005
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$ 20.95
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This paper explains that direct mail is a marketing approach in which potential prospects included on a list of names and addresses are sent information about a company or product; it is a controversial means of generating prospects but has been used effectively for years. The author points out that the telecommunications industry has typically used lists more oriented toward volume than quality, which is appropriate because telecommunications companies need a large volume of customers to impact their financial results. The paper concludes that the telecommunication companies have become very sophisticated in using direct mail such as enclosing a check, which could be credited against future billings, to motivate consumers to switch long distance carriers.
From the Paper
"The cost of direct mail is high compared to other means of marketing. In addition to the cost of producing a letter, brochure or other material, the major cost of direct mail is postage. According to the United States Postal Service (USPS) web site, the cost can range from $.37 per item to $.12 per item. The discounted rate can be used if the sender is willing to perform some of the tasks the USPS performs, such as bar-coding and sorting. An annual fee is also required. There are also minimum amounts of pieces in order to qualify. However, the disadvantages of bulk mail (no correction of incorrect addresses, slow delivery, extra labor, lower response rate by recipients) can sometimes outweigh the savings."
Tags:monitoring, costs, lists, split-test, incentive