• Sun. Feb 28th, 2021

Ch 1 Part 7 | Principles of Marketing | Kotler. Building Customer Relationship.

relationship is not just between you and your customer but also maybe you go in a full partnership on the food supply chain many companies now they say you guys remember when we talked about you tech company cuter they look into relationship or now all angles they look into across my relationship with my customers my relationship with my partner's my relationship with my suppliers my relationship with my employees my relationship with my neighbors because at the end good relationship is something good for everyone so so here we look into the idea of relating with more carefully selected customers use a selective relationship management to target fewer more profitable customers sometimes you find companies they start to have account managers and the account manager job is to maintain the relationship with a few number of customers this way we make sure that these few number of customers are very happy some companies and you see this maybe more or maybe b2b businesses you know b2b business to business customers businesses but your business deals with another business and your clients would be like five companies here you want to have an account manager that just watch these relating more deeply and interactively by incorporating more interactive two-way relationships through blogs websites online communities social networks some companies now they you know they will follow you and Twitter they may want you to add them on Facebook they will answer your comments of questions on social media if you have a problem with the Sony camera tweet it at Sony and they will reply to you on Twitter you see you know it's you know you you reach where your customers are and you try to be in there if with them our customer managed relationships marketing relationship in which customers empowered by today's new digital technologies interact with companies and with each other to shape the relationship with their brands anyone have tried some of these companies where they asked you to interact with them like you like their products from Facebook and share it and you can win do you see they go into a level where they interact with you and your friends some companies they say ok if you like our product or tell your friends of what you did with us you know it becomes into your relationship with your friends and your relationship with the business are more of mixed or in one relationship a partner relationship management involves working closely with partners in other company departments and outside your company to jointly bring great value to customers you guys remember if you go and you buy a green bicycle the company that sell your green bicycle is a supermarket you go to a huge supermarket you buy a green bicycle the time you buy it the database for the supermarket may be connected with their partners so their partners know that the customer have bought and then maybe how can those partners make the replacement or increase the inventory or provide the after sale service or provide additional spare parts or continue the warranty or get them the insurance do you see so now we've got this relationship with your customer is not just that I buy from you and you sell to me rather I bite you and you help your partner's your vendors your suppliers to also work with the customer so the more I am happy the more you are happy and your partners when you guys ok with this you remember sometimes you go to a company and you said you have this they tell you no but I can find for you or this is not our specialty but our vendors can also prove you see somebody's happy now yes the customer want to find the headache and find another one you know if you can help them that would be great partner inside the company is there in every function area interacting with customers we've got this electronica cross-functional teams sometimes and you can see this clear in big projects okay in big project it will be like four or five you can't do the job by yourself to service your customer you need to have other three four companies maybe maybe you need to have another three departments to do on this project so how can we all make sure that we can work together to provide value to the customer partners outside the companies how marketers connect with their suppliers channel partners competitors development partners will you be surprised to go to our company that refer you to their competitor yes have you seen it though yes sometimes you know if if you're a very good customer with a company and you go to that you don't you know you know you're very good customer to the point where they know that they want to service you even if they send you to their competitor now that's a very strong do you see is it good or bad how many people think it's okay it's bad okay some people think it's bad right but I remember at the end you know what you do your customer needs help you can't do it you need to improve you know it's a weakness but video risk your reputation and relationship no I will take you to my competitor because I know next time you'll come back to me and hopefully next time I have fixed myself and I'm stronger now to continue serving you yeah reality doesn't work it's a this is this is a culture and this is marketing and then and and you need to think about it and if you do this if you reach a level where you have good strong relationship this will be very natural consequence right whether you become more like a friend than the customer do you see so I advise you what's good for you and so way to maintain your customer and if you're not doing a good job and you can't serve this you know sent them to the people that can service them and instead off you lose the reputation and you lose the relationship do you see customers well thank you customers will trust you more supply chain in a channel that stretches from raw material to components to final products to final buyers so you need to have this relationship you know from the very beginning of a raw material all the way to the final good how can we all be on service of a company and that becomes part of the supply chain management concept do you guys see the picture here this is this is Stu Lawrence and this is their policy rule number one the customer is always right how many people think this is true customer's always right do you think customers sometimes of wrong do you think customers sometimes are headache and source of a problem do you think sometimes customers need to be stopped and told in their face you know you're a headache and you need to stop now let's see what is wrong number two with this guy he says rule number two if the customer is ever wrong really the rule number one customer is always defect customer is always right you graduates from this course you understand the customer is always right right customer is never wrong there is no need there is no customer who wants to be wrong customers they want something from you you just give it to them and then they won't run away they don't want to give you a hard time customers they are naggy they don't want to be nagging do you see customers they have troubles at home and they come throw it at you know they throw balls at home and they don't want to throw it at you they just want do you see they they are they just want you to understand their needs and wants service them and they will go away okay do you see so that's what you guys think of this policy rule number one door number two see they call here the customer lifetime value do you know what's the customer lifetime value it's the value of the entire stream of the purchases that the customer will make over a lifetime of a patronage so customer come back today next year after 10 years after 50 years customer dies all of the purchases they can make and referrals they can contribute there's a lot of money you see and we call this customer lifetime value how much is this total value you know if you understand this lifetime value like this guy to Lawrence understood decided to make this policy and those are our policy those are all the policies got two rules rule number one customer is always right number two if the customer is ever wrong please really drawl number one we've got a video for this guy we can watch you see I will see maybe we can watch it today if we finish this chapter I think that's okay with this yeah all right

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