TOPIC: Lead Management
The introduction outline already created below. The introduction should include a discussion or write-up touching all these topics (can just be a paragraph or so supported with references)
I.INTRODUCTION
What is Lead Management
Rising Risk factors in lead generation
Significance of poor lead generation today
Problem Statement
Relationship Marketing Models
1
Applications of Marketing Decision Models
in Relationship Marketing Strategy
Introduction
Todays constantly changing, global business environment requires that an
organizations decision-makers attempt to implement operational strategies designed to yield an
advantage over the competition. The consumer in todays marketplace has a large selection of
goods and services to choose from as they seek to satisfy a need or want. According to
Zeithaml and Bitner, customer satisfaction is defined as the customers evaluation of a product
or service in terms of whether that product or service has met their needs and expectations (as
cited in Wilson, 2002, p. 213). Therefore, when the customers experience with the good or
service either meets or exceeds their expectations, customer satisfaction has taken place
(Kotler & Armstrong, 2006).
According to Kotler and Armstrong (2006, p. 13), highly satisfied customers make
repeat purchases and tell others about their good experiences with the product. Vavra (1997)
states that organizations that yield high levels of customer satisfaction can also increase
profitability and market share. Kotler and Armstrong assert that, customer satisfaction is a key
to building profitable relationships with consumers (2006, p. 158). Lovelock and Wirtz (2004, p.
44-45) put the issue in perspective by indicating that on average, every 1 percent increase in
customer satisfaction is associated with a 2.37 percent increase in a firms return on
investment. Winer offers advice for todays organizations decision makers by indicating that
the organization should focus on the relationship between the organization and the customer
as the end result of a successful marketing strategy (2000, p. 21). It stands to reason,
therefore, that organizations today are interested in identifying strategies to yield satisfied
customers. In todays competitive marketplace, it is important to not only seek to recruit new
customers, but to also maintain mutually beneficial relationships with current customers
(Lovelock, 2001). According to Lovelock (2001, p. 144), todays business decision makers
Relationship Marketing Models
2
should keep in mind that on average it costs a firm five to six times as much to attract a new
customer as it does to implement retention strategies to hold on to an existing one.
A strategy that focuses on enhancing the relationship between buyer and seller may well
be integral to the organizations achieving an advantage over the competition by consistently
improving customer satisfaction levels. This strategy, known as relationship marketing, is
defined by Shani and Chalasani (1992, p. 44) as an integrated effort to identify, maintain, and
build up a network with individual consumers and to continuously strengthen the network for the
mutual benefit of both sides, through interactive, individualized, and value-added contacts over
a long period of time.
Relationship marketing may well serve as a strategic tool allowing the organization to
focus on the development of long-term, mutually beneficial relationships with the customer,
setting their organization apart from the competition and thus, yielding a competitive advantage.
As organizations today seek to better understand the relationship-building process between
buyer and seller, it is useful to attempt to identify applicable relationship marketing models in
order to better inform the decision-making process. This paper will review the academic
literature regarding applicable marketing models in an attempt to identify appropriate strategies
which can be applied by organizations today. It is important to begin this discussion by
reviewing the elements of relationship marketing, the types of relationships between buyers and
sellers, and the benefits of the relationship.
Lead Management
Semester Paper Outline
I.
INTRODUCTION
a.
b.
c.
d.
II.
What is Lead Management
Rising Risk factors in lead generation
Significance of poor lead generation today
Problem Statement
LITERATURE REVIEW
A. Importance of lead systems
B. Lead campaign strategies and software
1. Outbound generation
2. Proposition and audience
3. Increasing traffic
4. Conversion opportunities
5. UX and responsiveness
III.
CONCLUSION & PRACTICAL APPLICATION
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