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Crm-G3: MBA III Semester Lecture-2

The document discusses the basics of marketing and the evolution of relationship marketing. It defines marketing as creating and communicating value to attract and satisfy customers profitably. It explains that relationship marketing focuses on fostering long-term customer loyalty and engagement rather than short-term goals like individual sales. Relationship marketing emerged as companies spent more on acquiring customers but lost more existing customers due to increased competition, customer expectations, and technology. The purpose of relationship marketing is to build trust and retain customers through their lifetime value.

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Twinkal chakradhari
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54 views15 pages

Crm-G3: MBA III Semester Lecture-2

The document discusses the basics of marketing and the evolution of relationship marketing. It defines marketing as creating and communicating value to attract and satisfy customers profitably. It explains that relationship marketing focuses on fostering long-term customer loyalty and engagement rather than short-term goals like individual sales. Relationship marketing emerged as companies spent more on acquiring customers but lost more existing customers due to increased competition, customer expectations, and technology. The purpose of relationship marketing is to build trust and retain customers through their lifetime value.

Uploaded by

Twinkal chakradhari
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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CRM- G3

MBA III Semester


Lecture-2
Topics Covered
• Basics of Marketing and approach towards Marketing
• How Marketing department works
• Evolution of Marketing (Historical Perspectives)
• Evolution of Relationship Marketing
• Purpose of Relationship Marketing
Marketing: Basics & Definition
NEEDS
WANTS
Definition: Needs are something that you must
Definition: Wants are something that you wish to
have, in order to live
have, so as to add comforts in your life
• Needs represents the necessities of life
• While wants indicate desires
• Needs point out the something you must have
• wants refers to something which is good to have,
for survival.
but not essential for survival. 
Example- ROTI, KAPDA aur MAKAAN
• Example:

• MARKETING: Marketing is the process of creating, communicating, delivering value


to attract customers, and then satisfy the customer’s needs and wants profitably
• Demand: When needs and wants are backed by the ability to pay, they have the
potential to become economic demands
4 P’s of Marketing
How Marketing Department Works !!
Evolution of Relationship Marketing
• To understand this we
need to understand how
marketing evolved over
the years !!
Evolution of Relationship Marketing
contd…
• As the Marketing thought evolved from “production” to “marketing”,
Demand- Supply changes drastically.
• Increased competition and offerings led to losing of customers
• Companies spending more and at the same time losing out more and
more old customers
• Increasing customer expectations
• Technology
• Need of the hour was to start building TRUST and retaining customers
• Customer Lifetime Value (CLV)
What was happening with
companies
Relationship Marketing
• Definition: A part of CRM that focuses on “customer loyalty” and “long-
term customer engagement” rather than shorter-term goals like
customer acquisition and individual sales

• Explicit goal is to foster “customer loyalty” and “long-term


engagement”
• Getting relationship marketing right requires an extra level of empathy
and awareness
Examples: Restaurants & hotels calling to wish you on your
Birthday(next slide)
Uber India & China: Relationship
Marketing Video
Assignment Questions
1. What do you mean by 4Ps of Marketing. Discuss each in detail
2. Discuss evolution of Marketing Theory over time
3. What factors led to development of Relationship Marketing in
businesses?
4. What is the purpose and importance of Relationship Marketing
5. State one example from any Sector/Industry, where implementing
‘Relationship Marketing’ changed the business scenario for that
company.
Thank
You

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