Customer Loyalty and Relationship Marketing, the Benefits Associated w Term Paper

Essays on Customer Loyalty and Relationship Marketing, the Benefits Associated with a CLRM Program Term Paper The paper â€Å"Customer Loyalty and Relationship Marketing, the Benefits Associated with a CLRM Program† is a  fascinating example of a term paper on marketing. The report is about a fictitious MA-TO Company which deals with manufacturing and distribution of computer as well as aim at determining the benefit of a CRM program and providing recommendations about a CLRM program for the company. It has been widely agreed by scholars in the business field that it is indeed the customers that dictate the success of any organization. For that reason, there are needs for organizations to ensure that they maintain a mutual and warm relationship with customers. Historically, both customer loyalty and relationship marketing have been employed in a number of organizations. A good number of organizations that have adopted relationship marketing as well as customer loyalty programs have been successful in business as well as going global. By definition relationship marketing include a re lationship with various stakeholders within and without the organization (Ndubisi 27). It is worth noting that this does not call for a buddy-buddy relationship but treating customers with other stakeholders but a process that takes time having connected events or stages. The approach entails customizing programs for customers categories usually aimed at providing them with varied kinds of promotions.With regards to customer loyalty, the kind of relationship between them and the organization that stresses on customer retention and satisfaction, instead of dominant focus on sales transactions is what helps in creating customer loyalty. The major approaches include satisfaction as well as retention. With satisfaction relationship marketing heavily depends on communication as well as acquiring the demands of the customers from the current customers that an organization has. This will be very beneficial to both parties. Concerning retention, the organization needs to adopt a variety of ways to ensure that the existing and new customers are retained (Dick Basu 105). This will help the organization to have repeated business transactions with such customers a will openly be realized after the organization has in place strategies that will help it have plans in satisfying the demands of its customers above and beyond what the competitors are offering (Uncles 312). Previous studies have depicted that there is a link between loyalty and profits made by organizations. With such a reality the issue of customer satisfaction has been seen to be one important strategy and organizations need to adapt and creatively balance with its ability to come up with loyal customers who will; ultimately help in retaining profitable customers. It is no doubt that focusing on how to create customer loyalty will help create a long-lasting association between the two parties will definitely bring value to customers. It is thus the central focus of this paper to critically analyze the benefi ts of CRM and how it can be improved (Uncles et al. 302).Background InformationThe hypothetical company; MA-TO Computers will be dealing with manufacturing and selling of computers as well as other related appliances. The strategies that are in place will help the organization grow globally. Among them include forming mergers with well-established companies such as DELL and H-P. Similarly, we intend to grow by acquiring other businesses especially those dealing with supplying and distribution of finished products. For MA-TO to grow and maintain competitiveness one major part of the strategy that is a plus is the desire o attracts and maintains individuals of extraordinary talents. We also strive for training as well as developing talented workers. In order to attain the ultimate organizational goals and objectives, there are a number of principles that are followed. These include; following innovation and creativity where it leads by going after high-quality products and services, r etaining the value of creativity and innovation by creating projects within our organization and seek external assistance when necessary. Excelling in sales as well as marketing is a vital principle; this is arrived at by expanding innovative commercial capabilities to new consumers as well as geographical areas and managing mergers as well as acquisitions. Driving core values as a team through team building, cultural innovation, open sharing of information and having 360 degrees (Morgan 28).