- 20 Marks
Question
Brand Marketing Concepts Ltd (BMC) has for five years employed traditional methods of advertising and promotional messages to directly increase sales. The Accounts Officer in his year-end financial report has observed that sales revenue for two of the four products marketed by BMC have seen neither increase nor decrease for the past two years.
Required:
a) What roles can relationship marketing, customer care, and customer service play in increasing sales revenue for the two products marketed by BMC? (15 marks)
b) State FIVE (5) basic principles to be applied to develop customer relationship. (5 marks)
Answer
a) Role of relationship marketing, customer care, and customer service in increasing sales
- Relationship Marketing:
The aim of relationship marketing is to maximize customer retention and satisfaction through two-way communication, rather than to directly increase sales through traditional promotion messages and advertising. Relationship marketing recognizes the long-term value of building customer relationships through dialogue. - Customer Care:
Customer care is concerned with winning and retaining customers and considers customer satisfaction key to success. Open communication with customers is vital, ensuring they are kept informed and that any issues they have are addressed promptly. All involved in the organization, including back-office staff, work towards achieving customer satisfaction. - Customer Service:
Customer service focuses on how the organization interacts with clients, particularly in sales and post-sales service. High-quality customer service before, during, and following a sale helps create customer loyalty, making it a critical part of customer care.
(3 points well explained @ 5 marks each = 15 marks)
b) Basic principles to develop customer relationships
- Make the most out of every customer interaction
- Ensure offers and promotions are relevant to customers
- Value customers and treat them with respect
- Listen to customer comments and complaints
- Act on customer comments and complaints
- Follow up on customers to ensure satisfaction
(6 points @ 0.83 marks each = 5 marks)
- Tags: Customer Care, Customer service, Relationship Marketing, Sales Revenue
- Level: Level 1
- Topic: Finance, R&D and marketing strategies
- Series: MAY 2019
- Uploader: Uploader1