MODULE 2

CUSTOMER RELATIONSHIP:
CUSTOMER SERVICE
 The relationship marketing concept believes that all marketing
activities are for the purpose of establishing maintaining and
strengthening meaningful long-term relationship with customer.
Customer profiles, purchase habits, and preferences are tracked and
monitored. This to ensure that customers’ fulfilled and the relationship
with them is maintained.

Please visit:
https://www.marketing-schools.org/types-of-marketing/relati
onship-marketing.html
Customer Relationship
Management
is the process of
--------
managing an
organization’s interaction
with its current and
future customer
Is the forecasted sales or profits that a company can derive from the
entire span of the future relationship with a particular customer.

The CVL perspective has several distinct implications:

-It considers a longer-term perspective of a company’s relation

with customers in contrast to a short-term view of take the
customers money and run.
-It calculates and compares of acquiring new customer and
keeping old ones. This can be used to determine the revenues
that are lost when an existing customer switches to another
product.
-It highlights the importance of market segmentation, with
recognition that some customer groups are more profitable
than others
 Customer Lifetime Value
Average peso value of a sale to a particular customer
or customer group

x Number of repeat purchase in a year

x Average retention time in months or year

= Customer lifetime values

Please visit: https://builtvisible.com/understanding-customer-value.

Reading 3: Relationship Development
Strategies
Successful Customer Relationship Management Strategies

The following are effective guidelines in the implementation of customer relationship management:
- Adopt the right mindset toward customer service
- Purchase or develop a CRM software
- Quantify customer acquisition and retention cost
- Develop and implement a customer service training program
- Empower salesperson to make decisions
- Establish communication lines between your customer and customer contact staff
- Shop your competition
- Keep innovating customer service
- Promote genuine customer service with a passion

Please visit: https://www.entrepreneur.com/article/282364.

 Assessment
In 150-200 words, illustrate a successful customer service
strategy by a Filipino-owned company. Do not forget to
cite your source.

The Secret to
Happiness: "To fall
in love with
yourself is the first
secret to
happiness."