MNM3705 - Assignment 3 Retail Managment
(University of South Africa)
Customer Relationship Management (CRM)
The set of activities designed to identify and build loyalty for a retailers most valued
customers
CRM qualities
-focus on the best or most valued customer
- enables retailers to develop a base of loyal customers & increased shared wallet
-Share of wallet percentage of customers purchased made from a specific retailers
****Provide more value for the best customers instead of getting more
customers***
CRM to achieve more value for th best customers they use:
*Targeting
* Personalized merch
* Services
* Promotions
CRM Process
develop loyalty and repeat purchase behaviors among their best customers
Retail mix
-Product
, -Price
-Place
-Promotion
-Presentation
-Personal
* ALL contribute to customer loyalty
Customer Loyalty
means when customer are permitted to purchasing from a certain retailer and rest
activates from, other retailers
- have a bond with the retailer (emotional connection)
of the most effective methods of developing customer loyalty is?
-Personal attention
-Customer service
Repeat patronage
going to the same store over and over. NOT having an bond (emotional)
How many times people go to a grocery store or supermarket?
2.5-3 times a week`
CRM process cycle is a 4 step process
A continuous process
(University of South Africa)
Customer Relationship Management (CRM)
The set of activities designed to identify and build loyalty for a retailers most valued
customers
CRM qualities
-focus on the best or most valued customer
- enables retailers to develop a base of loyal customers & increased shared wallet
-Share of wallet percentage of customers purchased made from a specific retailers
****Provide more value for the best customers instead of getting more
customers***
CRM to achieve more value for th best customers they use:
*Targeting
* Personalized merch
* Services
* Promotions
CRM Process
develop loyalty and repeat purchase behaviors among their best customers
Retail mix
-Product
, -Price
-Place
-Promotion
-Presentation
-Personal
* ALL contribute to customer loyalty
Customer Loyalty
means when customer are permitted to purchasing from a certain retailer and rest
activates from, other retailers
- have a bond with the retailer (emotional connection)
of the most effective methods of developing customer loyalty is?
-Personal attention
-Customer service
Repeat patronage
going to the same store over and over. NOT having an bond (emotional)
How many times people go to a grocery store or supermarket?
2.5-3 times a week`
CRM process cycle is a 4 step process
A continuous process
