...Strategies for Building Effective Relationships LDR/300 Strategies for Building Effective Relationships Building effective relationships requires time and effort. The most effective relations take many forms and are fruitful, effective and satisfying. This only occurs when the parties involved cultivate a level of high trust in their relationships, also called inter-dependence. For this paper we will discuss the basic skills that a leader must possess in order to succeed in building effective relationships. We will also discuss some of the methods used to build effective relationships with superiors and peers. Finally we will look at the role of the leader in different participatory management methods. Leader Skills These features not only facilitate a relationship to mature and deliver exceptional results, but just as importantly, they also preclude a relationship from unravelling under the weight of confusion and external stimuli – a vital aspect in today’s fast-paced and ever-changing world Anyone coming up thru the ranks in the military and in the civilian sector knows that in order for a leader to be successful that they must possess certain leadership skills. Although not all inclusive, these skills will set up a leader to be successful. These skills include: organization and time management, selling skills, resource acquisition and management, technologically savvy, persuasive and negotiating skills, and ethics (Javitch, 2009). Companies are not...
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...Marketing: Managing Profitable Customer Relationships Learning Objectives After studying this chapter, you should be able to: 1. Define marketing and outline the steps in the marketing process 2. Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts 3. Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy 4. Discuss customer relationship management, and identify strategies for creating value for customers and capturing value from customers in return 5. Describe the major trends and forces that are changing the marketing landscape in this age of relationships 1-2 Chapter Concepts 1. 2. 3. 4. 5. 6. 7. 8. What Is Marketing? Understanding the Marketplace and Customer Needs Designing a Customer-Driven Marketing Strategy Preparing an Integrated Marketing Plan and Program Building Customer Relationships Capturing Value from Customers The New Marketing Landscape So, What Is Marketing? Pulling It All Together 1-3 What Is Marketing? Marketing Defined Marketing is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return 1-4 What Is Marketing? The Marketing Process 1. 2. 3. 4. 5. Understand the marketplace and customer wants and needs Design a customer-driven marketing strategy Construct a marketing plan that delivers...
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...Chapter One Marketing: Creating and Capturing Customer Value Chapter 1- slide 1 Creating and Capturing Customer Value Topic Outline • • • • • • • What Is Marketing? Understand the Marketplace and Customer Needs Designing a Customer‐Driven Marketing Strategy Preparing an Integrated Marketing Plan and Program Building Customer Relationships Capturing Value from Customers The Changing Marketing Landscape Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 1- slide 2 What Is Marketing? Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 1- slide 3 What Is Marketing? The Marketing Process Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 1- slide 4 Understanding the Marketplace and Customer Needs Core Concepts • • • • • Customer needs, wants, and demands Market offerings Value and satisfaction Exchanges and relationships Markets Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 1- slide 5 Understanding the Marketplace and Customer Needs Customer Needs, Wants, and Demands Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 1- slide 6 Understanding the Marketplace and Customer Needs • Market offerings are some ...
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...Capturing Customer Value Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter 1- slide 1 Creating and Capturing Customer Value Topic Outline • • • • • • • What Is Marketing? Understand the Marketplace and Customer Needs Designing a Customer-Driven Marketing Strategy Preparing an Integrated Marketing Plan and Program Building Customer Relationships Capturing Value from Customers The Changing Marketing Landscape Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 1- slide 2 1 11/06/2014 What Is Marketing? Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 1- slide 3 What Is Marketing? The Marketing Process Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 1- slide 4 2 11/06/2014 Understanding the Marketplace and Customer Needs Core Concepts • • • • • Customer needs, wants, and demands Market offerings Value and satisfaction Exchanges and relationships Markets Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 1- slide 5 Understanding the Marketplace and Customer Needs Customer Needs, Wants, and Demands Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 1- slide 6 3 11/06/2014 ...
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...Personal Selling & The Marketing Concept Personal Selling - A Definition and a Philosophy Personal Selling is a process of developing relationships; discovering needs; matching the appropriate products with these needs; and communicating benefits through informing, reminding, or persuading. The development of a personal selling philosophy for the information age involves three prescriptions: 1) Adopt marketing concept. 2) Value personal selling. 3) Assume the role of a problem solver or partner in helping customers make buying decisions. Personal Selling as an Extension of the Marketing Concept When a business firm moves from a product orientation to consumer orientation, we say that it has adopted the marketing concept. This concept springs from the belief that the firm should dedicate all of its policies, planning, and operation to the satisfaction of the customer. Promotion can be further subdivided into advertising, public relations, sales promotion, and personal selling. Personal selling is the major promotional method used in business. Evolution of Consultative Selling Consultative selling emphasizes need identification, which is achieved through effective communication between the salesperson and the customer. The salesperson establishes two-way communication by asking appropriate questions and listening carefully to the customer's responses. The salesperson assumes the role of consultant and offers well-considered recommendations...
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...about crisis communication effectiveness with the roles of relationship history and compassion. Relationships have become the focus for much public relations scholarship where various relational features have been examined in the setting of effective organizational communication. In this study, it specifically addresses the relational feature of compassion, a fraud crisis case, and the impacts of accommodative and defensive strategies. In the end, the results suggests that different responses are seen as more or less sympathetic by members of the same public. This is because the results are dependent on the perceived status of the organization-public relationship. 2. RQ #1: How does the use of accommodative or defensive crisis response strategies by organizations affect key publics’ assessments of compassionate crisis communication? Hypothesis #1: Participants with a positive relationship history with an organization will view accommodative strategies as being more compassionate than those participants with a negative relationship history with an organization (Caldiero 14). Hypothesis #2: Participants with either negative or positive relationship histories with an organization will view defensive strategies as lacking compassion (Caldiero 14). Hypothesis #1 is a one-tailed hypothesis. This is because it is a declarative statement that does predict the direction of the fact that participants with a positive relationship background with an organization will be more compassionate...
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...subscription information: http://www.tandfonline.com/loi/ctas20 Building Innovation Networks: Issues of Strategy and Expertise Lisa Harris, Anne-Marie Coles & Keith Dickson Available online: 25 Aug 2010 To cite this article: Lisa Harris, Anne-Marie Coles & Keith Dickson (2000): Building Innovation Networks: Issues of Strategy and Expertise, Technology Analysis & Strategic Management, 12:2, 229-241 To link to this article: http://dx.doi.org/10.1080/713698468 PLEASE SCROLL DOWN FOR ARTICLE Full terms and conditions of use: http://www.tandfonline.com/page/ terms-and-conditions This article may be used for research, teaching, and private study purposes. Any substantial or systematic reproduction, redistribution, reselling, loan, sub-licensing, systematic supply, or distribution in any form to anyone is expressly forbidden. The publisher does not give any warranty express or implied or make any representation that the contents will be complete or accurate or up to date. The accuracy of any instructions, formulae, and drug doses should be independently verified with primary sources. The publisher shall not be liable for any loss, actions, claims, proceedings, demand, or costs or damages whatsoever or howsoever caused arising directly or indirectly in connection with or arising out of the use of this material. Technology Analysis & Strategic Management, Vol. 12, No. 2, 2000 Building Innovation Networks: Issues of Strategy and Expertise LISA HARRIS, ANNE-MARIE COLES & KEITH DICKSON...
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...FedEx vs. UPS—Competing with Contrasting Strategies in China Fiona 11125231 Introduction FedEx and UPS are two U.S based logistics corporations which entered into China in the 1980s. However, both two companies adopted contrasting entry approaches. As for expanding strategies, FedEx adopted a forceful approach while UPS followed a conservative strategy till the late 1990s. With the improved business prospects in the Chinese logistics industry, the intensified rivalry between FedEx and UPS reached its peak gradually. Following Chinese entry into the World Trade Organization (WTO), FedEx and UPS continuously implemented various new services and agreements to grab Chinese logistics market. Obviously, these strategies helped both companies increase their revenues significantly so both companies expected to gain more market share in the future. Entering and Expanding Services Network At first, FedEx commenced its operation in China in 1984 by means of joint venture while UPS entered into China through an agent partnership relationship. FedEx partnered with multinational companies in China to build service network thus FedEx focused on building infrastructure and distribution centers in the first decade of its operations in China. Though joint venture provided FedEx with greater opportunities that are inaccessible through other strategies, it brought much higher investments and risks. On the contrary, an agent partnership relationship saved UPS from high risks. Unlike FedEx...
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...clients. For many firms, the “80/20 rule” applies where the largest concentration (80%) of your revenue is being derived by a relatively small subset (20%) of your customers. These clients, due to the leveraged impact they have on your bottom-line and infrastructure costs, need to be carefully managed and made a key focus of your business strategy. This is equally true for a huge multi-million dollar conglomerate or a relatively small professional practice. While a continuing focus on new business acquisition is of paramount importance – “Grow or Die” – the strategy decision of how you marshal your limited resources of time, money and effort is a crucial one. Deciding to manage your top clients as “strategic accounts”, and investing your resources to build your relationships with them, provides a multiplier effect of benefits. To name a few: lowers acquisition costs for new business, engenders a higher level of customer loyalty, creates revenue stability and profitability enhancement, inspires ongoing future business, and develops a strong referral generator and free PR. Small businesses and professional practices can learn and incorporate strategies and practices from the larger, established strategic account departments of larger firms. Strategic account management is a mindset and a methodology, a series of carefully thought out decisions and processes that enforce and ensure that you truly place your top clients at the core of your business. This discipline needs to be internalized...
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...Marketing and the Marketing Process Marketing deals with customers more than any other business functions. Marketing is managing profitable customer relationships. Marketing has a twofold goal. They are to attract new customers by promising superior value, and keep and grow current customers by delivering satisfaction. The American Marketing Association defines marketing as “The Process of planning and executing the conception, pricing, promotion, and distribution of ideas, good, and services to create exchanges that satisfy individual and organizational objective”. The Marketing process is the method of evaluating openings, choosing the proposed customer, addressing the consumer needs and wants, describing the price, product, place and promotion and addressing the marketing campaign. The marketing process takes major responsibility to control overall marketing strategy. The marketing process has 5 steps that lead to a successful advertising campaign. In the first four steps, companies work to understand consumers, create customer value, and build strong customer relationships. In the final step, companies reap the reward of having superior customer value. Now, we will explore the steps of the marketing process. Step 1 is marketers need to understand the market place and the needs and wants of customers. There are five core customer and market place concepts. Needs, wants, and demands is one. Human needs are states of felt deprivation. Human wants are the form human needs...
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...From Marketing Mix to Relationship Marketing: Towards a Paradigm Shift in Marketing Management Decision, 1994, Vol. 32 Iss: 2, pp.4 – 20 Christian Grönroos, Professor of Marketing at the Swedish School of Economics and Business Administration in Helsinki, Finland. Abstract Discusses the nature and sometimes negative consequences of the dominating marketing paradigm of today, marketing mix management, and furthermore discusses how modern research into, for example, industrial marketing and services marketing as well as customer relationship economics shows that another approach to marketing is required.This development is supported by evolving trends in business, such as strategic partnerships, alliances and networks. Suggests relationship marketing, based on relationship building and management, as one emerging new marketing paradigm of the future.Concludes that the simplicity of the marketing mix paradigm, with its Four P model, has become a straitjacket, fostering toolbox thinking rather than an awareness that marketing is a multi-faceted social process, and notes that marketing theory and customers are the victims of today′s mainstream marketing thinking. By using the notion of a marketing strategy continuum, discusses a number of consequences of a relationship-type marketing strategy for the focus of marketing, pricing, quality management, internal marketing and intraorganizational development. Briefly comments on the possibility of developing a general marketing theory...
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...product, place, promotion, price Consultative Selling- an approach to personal selling that is an extension of the marketing concept. Emphasis is placed on need identification, need satisfaction, and the building of a relationship that results in repeat business Transactional Selling- a sales process that most effectively matches the needs of the value-conscious buyer, who is primarily interested in price and convenience The major features of consultative selling are as follows; 1. The customer is seen as a person to be served, not to be sold a. NEED DISCOVERY 1. The buyers needs are identified through two-way communication (key for sales person to learn about the needs of the consumer as much as possible) a. SELECTION OF THE SOLUTION 1. Helping the buyer make an informed and intelligent buying decision adds value to the sales process a. NEED SATISFACTION PRESENTATION 1. Emphasizes service at every phase of the personal selling process a. SERVICING THE SALE The Evolution of Strategic Selling Strategic Planning- the process that matches the firm's resources to its market opportunities Tactics- techniques, practices, or methods that a salesperson uses during face-to-face interactions with customers Strategies- the thing that salespeople do as the result of precall planning to ensure that they call on the right people. At the right time, and with the right...
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...market, there are three mainly cola brands, Coca cola, Pepsi and Future Cola, these three brand share almost 90% cola market, so that competition is omnipresent ,not only in the consumer market, but also very intensive in business to business market. Business-to-business brand building involves various aspects, for example, attributes of products and services, brand image, brand position, and B2B brand management, Wahaha Co., Ltd as a case company need to build brand image and find a solution on how to be a stronger brand in order to attract more potential customer. The theoretical context of this thesis lies in marketing management. The theoretical emphasis and framework is however in brand management: brand concepts, brand building and brand image. As the study is made in B2B environment the difference between B2B and consumer markets will be specified. The quantitative research method is used in the research for study; the data for empirical study was gathered through email. The questioner is based on the theoretical framework, related to product's attributes, brand image and communication and characteristics of brand, and relationship. The purpose of thesis is to finding a more effective method and strategy to be stronger brand, creating more ideas for company...
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...Name: Ashwinkumar Talankar Sub: Strategy Evaluation and Implementation Roll No.: 37 - PGDIBS - 02 Assignment: Note on Building an Organization Capable of Good Strategy Execution. The principal components of the strategy execution Process 1. Staff the organization with managers and employees capable of executing the strategy well 2. build the organizational capabilities required for successful strategy execution 3. Create a strategy supportive organization structure 4. Allocate sufficient budgetary and other resources to the strategy execution effort 5. Institute policies and procedures that facilitate strategy execution 6. Adopt best practices and business processes that drive continuous improvement in strategy execution activities 7. Install information and operating systems that enable company personnel to carry out their strategic roles proficiently 8. Tie rewards and incentives directly to the achievement of strategic and financial targets 9. Instill a corporate culture that promotes good strategy execution 10. Exercise the internal leadership needed to propel strategy implementation forward. Building an organization capable of good strategy execution: Building and strengthening core competencies and competitive capabilities: developing proficiencies in performing strategy critical value chain activities and updating them to match changing market conditions and customer expectations. Approaches to Building & Strengthening Capabilities : 1. Developing Capabilities Internally...
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...Value Marketing: creating value for customers and building strong relationships to capture from customers in return - All about managing profitable customer relationships (satisfying customer needs) Core Customer and Marketplace Concepts 1. Needs wants and demands * Needs: states of felt deprivation * Wants: the form human needs take as shaped by culture and individual personality * Demands: human wants that are backed by buying power 2. Market offerings – products, services, info or experiences offered to satisfy a market need * Marketing myopia: mistake of paying more attention to the products itself than to the benefits and experiences produced by these products (brand experience) 3. Value and satisfaction – must set smart and realistic product expectations for customers 4. Exchanges and relationships – the act of obtaining a desired object from someone by offering something in return 5. Markets – the set of all actual and potential buyers of a product or service Marketing Process 1. Understand the marketplace and customer needs and wants 2. Design a customer-driven marketing strategy 3. Construct an integrated marketing program that delivers superior value 4. Build profitable relationships and create customer delight 5. Capture value from customers to create profits and customer equity Marketing Management: choosing target markets and building relationships with them - Composed of customer management and demand...
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