PRINCIPLES OF MARKETING

In today’s society, the competition is rampant. Consumers literally have hundreds of places to purchase from, thanks in large part to the internet. If a person does not like the offerings in their area, they just have to hop online and can order from literally anywhere in the world now. So, with so much competition, businesses really have to pour the money into creating loyal customers. The idea of creating loyal customers is called Customer Relationship Management.

• Think of Wal-Mart, Dunkin Donuts, Starbucks, and Wal-Greens. Pick one of these businesses and assess their customer relationship management (CRM) strategy. How does the business measure quality? How does the business measure customer satisfaction? What do you think the business can do in order to improve their CRM strategy?
• Using the same business, you identified in the above bullet, how exactly are they going about creating customer loyalty? What strategies are they using? How effective do you think their current strategy is at creating and maintaining their customer’s loyalty? If you could change one items about their loyalty program what would it be?