1. How does Customer Relationship Management play an important role in a company?

“Customer is a King.” It is the customers that deal with the company’s profit, hence, a business
establishment must work for its customers’ loyalty and revenue. Customer Relationship Management
helps businesses build a relationship with their customers that, in turn, creates loyalty and customer
retention. It is a management strategy that results in increased revenues for a business. It also allows a
company to optimize customers’ reactions and feedbacks allowing it to become more efficient in
organizing and automating certain aspects of the business.

2. How does marketing affect customer value?

A customer doesn’t have any idea what is important for himself that’s why he checks out through
products which are marketed. Marketing increases customer’s aspiration by helping him to select the
product he wanted to purchase. It also gives customers’ ideas on what satisfaction he can achieve in
consuming certain product. With these, companies can deliver customer value, satisfaction and create
loyalty for their products. Traditional ways of selling products don’t work anymore in this generation of
consumers.

3. As a marketer, how are you going to create superior customer value and generate customer
satisfaction?

Since marketing is a gamble, a company should satisfy and value its customers. It should have focused
efforts on its best customers to increase customer value and grow its business. It should understand what
drives customers by simply capturing data to understand what is important to them and what
opportunities it has to help them. Set a price that makes it clear that customers are receiving value but
also maximizes company’s “take.” Satisfied customers that perceive a lot of value in company’s offer are
usually willing to pay more, while unsatisfied customers will leave, even at a low price. Lastly, customers
are the lifeblood of business, hence, it will be better if it will allocate growth capital toward new products
and solutions that serve its best customers or can attract more customers that are similar to its best
customers.