...creating enduring relationships. Furthermore they are an organisation that thrive through self-reliance and entrepreneurial spirt always looking for new opportunities to innovate and grow to reach more people. (Simon Woolley 2015) Marketing objectives… Engagement; a key principle to beamish is building relationships and a dialogue with audiences through transparent...
Words: 1813 - Pages: 8
...answer the following questions: Does service really stink? What are the negative effects of reducing service to some customer? Please provide an example. Service really stinks. Nowadays company just emphasizes on potential customer and valued customer. If you fall below on these two categories, companies rather lose you than take time to serve you. Company are smart on checking customer background based on existing information and pass transaction history. Based on the pass history can determine customer value. Companies believe that serve a value customer is easier than looking for a new customer to buying the product. Meanwhile, based on checking customer background, company easy to define who will be potential customer. Potential customer need to emphasize because their willingness on buying new product is higher than a new customer. Potential customer know the company very well, they tend to invest more on trying new product. Serving valued and potential customer is easier than looking for a new customer which needs to start from the beginning. It costs 5 times more to obtain a new customer than retain an existing one. There are some negative effects will reduce service to some customer. Tom Unger called the bank’s toll free number to clarify his mysterious service charges showing up on his bank account, he reach a bored representative who try to brush him off. Tom Unger wrote two letter to make a complaint, a First Union spokeswomen call back him and just simply answer...
Words: 3215 - Pages: 13
...has evolved and broadened over the years. It encompasses all activities from before the product is made till it reaches the end customer. This process not only involves satisfying customer’s needs and wants; it also aims to retain customers for the long term. An important facet of Marketing is Relationship Marketing which focuses on developing and retaining long term relationships with prospects, stakeholders, peers and above all customers. “Relationship marketing is a strategy designed to foster customer loyalty, interaction and long-term engagement. It is designed to develop strong connections with customers by providing them with information directly suited to their needs and interests and by promoting open communication." (Olenski, 2013) Many theorists have attempted to define Relationship Marketing which has been a topic of discussion for many. The idea of RM essentially developed inside of the fields of service and industrial marketing. Leonard Berry (1983) was one of the first theorists who defined RM as a strategy that attracts, develops and retains customer relationships. On the other hand, Christopher stated that “Relationship Marketing concerns the dual focus of getting and keeping customers (Christopher et al, 1991 in Daskou, 1997). Whereas, Sheth (1994) proposed that “Relationship marketing is the understanding, explanation, and management of the ongoing collaborative business relationships between...
Words: 1403 - Pages: 6
...distinguish themselves from competitors’ products. Apple, under the leadership of CEO Steve Jobs, has even begun to diversify its production, and in recent years, includes everything from music and entertainment software to numerous electronic appliances. Across all its different business sectors, Apple has been widely praised as being creative and original in its advertising and marketing strategies (insidecrm.com). It can be argued that Apple’s massive success and profitably are strongly connected to the company’s ability to accurately ascertain what the public wants and effectively market their products to customers. This paper will outline different marketing policies and strategies used by Apple Inc and compare them to academic marketing theories such as the Marketing Mix, Relationship Marketing and Marketing Warfare. As one of the older and more prominent theories discussed here, the 4-P Marketing Mix was created by E. Jerome McCarthy in 1960, which incorporates the aspects of product, price, place and promotion. In terms of products and services, Apple Inc’s main sources of revenue are from sales of PCs and laptops, iPods, iPhones and iTunes downloads (theapplemuseum.com). Unlike other competitors, Apple Inc has become well known for its focus on high quality and ease of use in all its products (macnn.com). The spinning wheel on the iPod and the new, user-oriented interface system for the iMac are perfect examples of Apple’s strive towards simple product interaction...
Words: 2713 - Pages: 11
...Memorandum To: Professor Sandra Moses From: Business Communication Team 1 Date: September 22, 2014 Subject: Asian Business Culture Please review this memo to prepare yourself for interaction with business partners in China, Thailand and Japan. Introduction Engaging in any business transaction such as meetings, striking a deal or even just exchanging contact information is to be done with a great deal of tolerance for the Asian culture. It is important to remember to be aware and follow some simple guidelines that will be outlined first. It is significant that these rules be followed use simple English, speaking slowly and enunciate, check frequently for their comprehension, observe eye messages, and accept blame if there is a misunderstanding. Practice etiquette by listening without interruption, smile when appropriate, and follow up every meeting in writing to ensure understanding and show appreciation. Asian Culture Chinese business partners will present themselves much like Japanese and Thailand partners. They will have a quiet demeanor that lacks little emotion. Expect the asian business partners to move slowly compared to our pace. Chinese and Japanese business meetings are conducted with patience and will often have long pauses. In Japan business is male dominated and should be conducted very diplomatically. All three countries have a strong sense of hierarchy. It is important to address individuals with their full name and title in both China and Japan,...
Words: 606 - Pages: 3
...model. First of all, the local food is not only associate with geographical concept, it is also about ecological system and social relationship. It is not simply about the distance you between the food production region, but also the perceptive of ecological unit in whole system and the relationship between consumers and producers. The "local" also in term of feeling closer to nature environment and see and trust the people who grown the food you and your family eating. Furthermore, in fact, local food is the same or less experience than supermarkets in general as far you chosen the seasonal and right food. People who buy food from supermarkets instead of local food stores are just too lazy to go to grocery store frequently and spend time to consider their food. Industrial food supply chain isolate people from their food and cause us to spent money on medical. Local food is greater quality and can fit anyone's budget, all take is willingness with your food purchases. Price is not a reason, it is a excuse. https://www.youtube.com/watch?v=tLOGSX_l2B8 Watch this video from 00:14, it brief introduced a local grocery store, Sundance Natural Foods. It is also my one of my favorite stores in Eugene. This store is only sale organic and local food. One of their rules to selecting products is Bioregionalism, which means they give preference to products from local farms and businesses in order to support our community and minimize our carbon footprint. I start to eating organic and...
Words: 575 - Pages: 3
...Social Media-Instagram Strayer University LEG100143VA005-1146-001 Prof. Renee Berry August 14, 2014 In the past several years the rise of social media outlets has become astounding. From Myspace in 2004, Facebook in 2007 and the newest social media craze, Instagram in 2010. Instagram is a fun and quirky way to share your life with friends through a series of pictures. Snap a photo with your mobile phone, then choose a filter to transform the image into a memory to keep around forever (Frommer). The founders Kevin Systrom and Mike Kreiger launched Instagram October 6, 2010 by December twenty-first of that year the community had grown to over one million users (Instagram, press page). Many companies also use Instagram and other social networking sites to advertise their businesses. This paper will explore the four components of a legally astute social media marketing manager; analyze methods of alternative dispute resolution; determine how federal government can best control transactions; examine which branch of the government can have the most impact on regulating consumer; and explain the agency relationship that exists on social media sites. Legally astute managers have multiple abilities among those abilities are being proactive and being able of identifying and pursuing opportunities to use the legal system to improve the total value of the firm. To be a legally astute manager is to have the ability to communicate effectively and to work together to solve complex...
Words: 1443 - Pages: 6
...Introduction to Transactional Analysis 1. Origin Transactional Analysis or TA as it is popularly called owes its origin to a psychotherapist Eric Berne. During his early professional years (the 1940’s and 1950’s). Berne made a departure from the existing orthodox psychiatric practices which consisted of analyzing a patient’s case in a highly esoteric language which the patient could not understand. Beme disapproved of the then-prevalent ‘expert-impersonal object’ relationship between the therapist and the patient. It often tended to raise the therapist to a lofty position and to reduce the patient to the status of an inanimate object incapable of understanding the complex dynamics of the mind. In his treatment of patients, Beme made a conscious effort to develop a simple, high-impact language to explain to his patients their inner processes and to involve them actively in his line of therapy. His efforts led to the emergence of a new, powerful system of analysis of behavior called Transactional Analysis (TA). Beme first put forth his ideas on TA in a book titled Games People Play, which immediately became very popular. Beme and his associates in their subsequent work developed these ideas. Thus, with efforts of Beme and many other behavioral scientists, TA transcended the boundaries of therapy to enter the world of lay people, their lives on-the-job, and off-the-job. II. Ego States The unit of analysis used in TA for understanding human behavior is...
Words: 5776 - Pages: 24
...for new entities - entrants. The investment to build, purchase or rent airplane is enormous. Employees such as pilots and maintenance technicians are expensive to pay. The training efforts are extremely high. Security, safety requirements are heavy regulated. Another important factor which creates a challenge for new entrants to enter the airline market is the brand identity. Airlines with a long history in the industry have created a strong relationship with their loyal customers based on safety records as well as the discount programs they offer (frequent flyer programs, business members) The Power of Suppliers within the airline industry is very low. The main factor relating to the bargaining power of suppliers is the supplier concentration (Ref 3). For example, Boeing and Airbus supply most commercial aircrafts. Limited competition makes it difficult to obtain lower prices and lower the costs. Airlines are also motivated to purchase the same type of aircraft or the same brand to reduce the long term maintenance and service costs. The strong power of suppliers is the main factor which...
Words: 1599 - Pages: 7
...Groningen Lecturer: Arnd Mehrtens | | | Date: 29 January 2015 Word count: 8,925 Abstract The global beer industry - An Analysis of opportunities and risks in light of its institutional characteristics, as exemplified in part by Heineken. In this report you will read about a novel concept in economics called the Three Pillar Model, with a particular focus on the pillar of entities. After a general introduction, specific information about the beer market will be given. This is followed by a short analysis of the company Heineken NV, a Dutch beer brewer operating in over 170 countries worldwide. To end the report a conclusion will be given. This is followed by, which will include among other things the recommendation to create a strong bond with the consumer. In the very end you will find a list of all the sources that were used to write this report. Contents Abstract 1 Introduction 3 1. Literature review 4 1.1 Three pillar model 4 1.2 Theories 4 1.2.1 Neoclassical economics 5 1.2.2 Institutional economics 6 1.2.3 Behavioural economics 8 1.3 Entities 10 1.3.1 Institutions 10 1.3.2 Organizations 10 1.3.3 Individual Actors 10 1.3.4 Trends 11 1.4 Paradigms 11 2. Methodology 13 3. Industry specific investigation 14 3.1 A brief history 14 3.2 Institutional characteristics 16 4. The company: Heineken NV 19 Conclusions 20 Recommendations 21 Bibliography 24 Introduction In front of you is a report written for the International...
Words: 9219 - Pages: 37
...growth. In this series, entitled Reinventing Retail Banking, the Deloitte Center for Banking Solutions looks at how banks must move beyond simply meeting their profit and growth goals to delivering more completely on the customer experience. Specifically, these articles will focus on: understanding customers needs; identifying emerging and profitable customer segments and strategies to attract them; creating the multi-channel banking experience; and refining branch layout, design and utilization to increase customer loyalty. Together, these reports provide financial institutions with a roadmap for navigating the increasingly complex challenges that new customers and market conditions are creating, as well as understanding the lessons learned from other industries that...
Words: 12004 - Pages: 49
...a detailed description of the entity-relationship model and the use of this tool within the context of conceptual data modeling. This chapter presents the basic entity-relationship (or E-R) model, while advanced features are presented in Chapter 3. Chapter Objectives Specific student learning objectives are included in the beginning of the chapter. From an instructor’s point of view, the objectives of this chapter are to: 1. Emphasize the importance of understanding organizational data, and convince your students that unless they can represent data unambiguously in logical terms, they cannot implement a database that will effectively serve the needs of management. 2. Present the E-R model as a logical data model that can be used to capture the structure and much, although not all, of the semantics (or meaning) of data. 3. Apply E-R modeling concepts to several practical examples including the Pine Valley Furniture Company case. Key Terms |Associative entity |Entity-relationship diagram |Relationship instance | | |(E-R diagram) | | |Attribute | |Relationship type | |Binary relationship |Entity-relationship model |Required attribute...
Words: 12988 - Pages: 52
...dissertation set out to explore how the Internet is changing the brand-building environment, in order to identify the new sources of value, the new brand-building tools and strategies, and to outline the key factors that contribute to the development of a successful online brand. With power shifting to customers, the success of an online brand is largely determined by customer choice. The repeated choice of a certain brand by customers and business partners generates the transactions and repeat business that counterbalances the costs of customer acquisition and infrastructure. Repeat transactions provide the basis for a relationship that, when properly cultivated, creates value for both the company and its customers. This relationship is the basis for the customer loyalty that creates a successful online brand. The companies that are successfully building relationships and fostering brand loyalty are those that recognise that their brand's perceived value hinges on the total end-to-end customer experience, from the promises made in the value proposition, to its delivery to the customer. It is about enticing customers, gaining their trust, and making the experience so satisfying that they are confident in their choice and will return again, and will tell others about it. It aims to create “apostles”, instead of “terrorists”. As such, brand-building on the Internet extends beyond the traditional focus of positioning, advertising, promotions, catchy logos and slogans, to creating...
Words: 23987 - Pages: 96
...growth. In this series, entitled Reinventing Retail Banking, the Deloitte Center for Banking Solutions looks at how banks must move beyond simply meeting their profit and growth goals to delivering more completely on the customer experience. Specifically, these articles will focus on: understanding customers needs; identifying emerging and profitable customer segments and strategies to attract them; creating the multi-channel banking experience; and refining branch layout, design and utilization to increase customer loyalty. Together, these reports provide financial institutions with a roadmap for navigating the increasingly complex challenges that new customers and market conditions are creating, as well as understanding the lessons learned from other industries that...
Words: 12004 - Pages: 49
...Resource Markets WP-RM-18 Recent Developments in Transaction Cost Economics Sophia Ruester January 2010 Chair for Energy Economics and Public Sector Management Electronic copy available at: http://ssrn.com/abstract=1535903 Recent Developments in Transaction Cost Economics Sophia Ruester1 Abstract This working paper provides a summary on transaction cost economics (TCE) and recent developments thereof. After an introductory discussion of TCE’s role within the field of New Institutional Economics, a critical analysis of the contribution of the existing body of empirical literature is conducted. In recent years, researchers have continued to develop and extend TCE. Williamson (1991b) introduces the shift parameter framework which investigates how the optimal choice of governance changes in response to dynamics in the institutional environment. Nickerson (1997) develops the positioning-economizing perspective arguing that decisions regarding market position, resource investments, and governance mode are interdependent and determined simultaneously. A number of authors came up with an increasing interest in relational institutional arrangements arguing that TCE may overstate the desirability of complex long-term contracts and vertical integration in exchange settings where a substantial hold-up potential is present. JEL Codes: Keywords: D23, L22 Transaction cost economics, discriminative alignment, theories of the firm, shift parameter framework, positioning-economizing...
Words: 20511 - Pages: 83
