There is a body of litterature that proposes that customer ...... to Essay

There is a body of litterature that proposes that customer ...... to what extent do you believe this to be true - Essay Example (Skogland & Siguaw, 2004, p. 221) Research has shown that in the United States, customer defection is high; this means that customers will not return for a second purchase of the product from businesses or firms. U.S. corporations lose half of their customers over a span of five years resulting in 25 to 50 percent reduction of corporate performance. Companies invest millions of dollars in customer retention programs. Skogland & Siguaw’s (2004, p. 221) study cite Marriott who spent $54 million in 1996 on its Honored Guest program, while Hyatt invested $25 million in its loyalty program that same year. Research on customer loyalty has primarily focused on customer satisfaction and involvement. However, findings on the linkage between repeat-purchase behavior and satisfaction have provided mixed results. Some report significant links, while others are doubtful. In the past century, RM was a major trend and a controversial talking point in business management. Strategic competitive advantage could no longer be delivered with just product characteristics but with emphasis on satisfying customers. (Barnes, 1994, cited in Egan, 2003, p. 145) Relationship marketing (RM) and customer relationship marketing (CRM) are two interrelated subjects. â€Å"Relationship marketing is marketing based on interaction within networks of relationship†¦ CRM [includes] values and strategies of relationship marketing – with particular emphasis on customer relationships – turned into practical application† (Gummesson, 2002, p. 3). Relationship marketing was first contributed by Berry (1983) as a new rubric for services marketing, with insights in the 1980s pointing to service risk points in the customer relationship life cycle. In the 1990s, relationship marketing became a key marketing issue (Ballantyne et al., 2003, p.159-160). Due to constant changes in marketing, there have been departures from mainstream marketing

Career Planning and Development Research Paper Example | Topics and Well Written Essays - 3000 words

Career Planning and Development - Research Paper Example As such, the topics which will be analyzed relate to performance evaluations, successful management, treatment of difficult situations, employee retention, and issues relating to recruiting and compensation. When one considers the importance of career planning, several prominent factors immediately spring to mind. Whereas there are many things in life that require instantaneous and responsive decisions in order to maximize the utility of the individual, the path that one will pursue to provide for oneself and their loved ones is not something that should be a spur of the moment decision. Rather, it is something that should necessarily integrate with a degree of planning and consideration due to the fact that it is one of the most important decisions that one will ever integrate with. Ultimately, such a choice has far reaching impacts based not only on the ability of the individual to earn a living but also the ability of the individual to experience a degree of success, satisfaction, and happiness with their chosen path. As a function of such differing aspects of personal well being and growth, this brief analysis will consider a few of the reasons why career planning is essential to ma ximizing success and satisfaction in life. In order to accomplish such an analysis and/or investigation, this author will integrate with career planning based upon the following determinants: the necessity of performing career planning in order to define and differentiate what actions must be accomplished in order to direct ones path towards the ultimate goal as well as the necessity of career planning in order to maximize satisfaction. Firstly, the reader can and should integrate with an understanding of the fact that it is necessary in order for the individual to make something of a road map of future actions that must be completed in order to realize the