Thomas Lingard
- Published in print:
- 2013
- Published Online:
- January 2014
- ISBN:
- 9780197265536
- eISBN:
- 9780191760327
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197265536.003.0017
- Subject:
- Political Science, Environmental Politics
Tipping points got us into the current mess and tipping points have to get us out if it. Businesses can respond to proxy versions of tipping points and have to listen to their customers. Dealing with ...
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Tipping points got us into the current mess and tipping points have to get us out if it. Businesses can respond to proxy versions of tipping points and have to listen to their customers. Dealing with an uncertain future which is not at all like the past requires new forms of leadership and explanation to employees and customers. These conditions are not presently available. Yet the forces of weak governance (especially at the international level), perverse incentives, and excessively powerful lobbies make the onset of tipping points more likely than their more benign transformation. Tough regulatory intervention, new forms of social media communication and pressure, and courageous leadership have to emerge.Less
Tipping points got us into the current mess and tipping points have to get us out if it. Businesses can respond to proxy versions of tipping points and have to listen to their customers. Dealing with an uncertain future which is not at all like the past requires new forms of leadership and explanation to employees and customers. These conditions are not presently available. Yet the forces of weak governance (especially at the international level), perverse incentives, and excessively powerful lobbies make the onset of tipping points more likely than their more benign transformation. Tough regulatory intervention, new forms of social media communication and pressure, and courageous leadership have to emerge.
Mike Barry
- Published in print:
- 2013
- Published Online:
- January 2014
- ISBN:
- 9780197265536
- eISBN:
- 9780191760327
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197265536.003.0018
- Subject:
- Political Science, Environmental Politics
We are reaching a time when several underlying assumptions about good business practice are becoming undermined. The environment is not tolerant, governments will not back up forever, and customers ...
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We are reaching a time when several underlying assumptions about good business practice are becoming undermined. The environment is not tolerant, governments will not back up forever, and customers and citizens are merging. There will be no spare publicly financed money to bail out our environmental damage and social decay. Businesses will have to take their share of these responsibilities and create their sustainability accounts accordingly. Consumers will be more selective, regulation will tighten, and the more farsighted businesses will survive.Less
We are reaching a time when several underlying assumptions about good business practice are becoming undermined. The environment is not tolerant, governments will not back up forever, and customers and citizens are merging. There will be no spare publicly financed money to bail out our environmental damage and social decay. Businesses will have to take their share of these responsibilities and create their sustainability accounts accordingly. Consumers will be more selective, regulation will tighten, and the more farsighted businesses will survive.
Richard Coopey and Donald Clarke
- Published in print:
- 1995
- Published Online:
- October 2011
- ISBN:
- 9780198289449
- eISBN:
- 9780191684708
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198289449.003.0001
- Subject:
- Business and Management, Business History
This chapter provides a historical perspective of the development of 3i and its impact on British industry. The institution, established initially as the Industrial and Commercial Finance Corporation ...
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This chapter provides a historical perspective of the development of 3i and its impact on British industry. The institution, established initially as the Industrial and Commercial Finance Corporation and commonly known by its initials, has come a long way since its origins in the aftermath of the Second World War, although it has never lost sight of its original purpose — to serve the small- and medium-sized company sector by providing the long-term and permanent capital which larger companies are able to raise through the capital markets. This book includes a series of case studies illustrating particular aspects of 3i's investment method, aiming to give due weight to the relationship with its customers without distracting attention from the main narrative.Less
This chapter provides a historical perspective of the development of 3i and its impact on British industry. The institution, established initially as the Industrial and Commercial Finance Corporation and commonly known by its initials, has come a long way since its origins in the aftermath of the Second World War, although it has never lost sight of its original purpose — to serve the small- and medium-sized company sector by providing the long-term and permanent capital which larger companies are able to raise through the capital markets. This book includes a series of case studies illustrating particular aspects of 3i's investment method, aiming to give due weight to the relationship with its customers without distracting attention from the main narrative.
Sharan Jagpal and Shireen Jagpal
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195371055
- eISBN:
- 9780199870745
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195371055.001.0001
- Subject:
- Business and Management, Marketing
This book shows how to fuse marketing, finance, and other disciplines to improve performance for the corporation or organization. Specifically, it shows decision makers at different levels in the ...
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This book shows how to fuse marketing, finance, and other disciplines to improve performance for the corporation or organization. Specifically, it shows decision makers at different levels in the organization and in different functional areas (e.g., marketing, finance, new product development, and human resources management) how to overcome the problems resulting from function- and discipline-based “silos.” The book has several novel features. All concepts are presented in a simple and easily accessible question-and-answer format. The book provides an in-depth analysis of a broad spectrum of important managerial topics (e.g., how to allocate advertising funds between Internet and conventional advertising, how to evaluate brand equity for mergers and acquisitions, and how to coordinate product design, marketing strategy, and production). In addition, because of its fusion-based methodology, the book provides decision makers with new tools to address familiar managerial problems (e.g., resource allocation and the design of managerial contracts in multiproduct or multidivisional firms). Throughout the book, the focus is on providing managers with actionable theories and metrics that are rigorous yet practical, and that allow the firm or organization to fuse — not merely interface — different functional areas.Less
This book shows how to fuse marketing, finance, and other disciplines to improve performance for the corporation or organization. Specifically, it shows decision makers at different levels in the organization and in different functional areas (e.g., marketing, finance, new product development, and human resources management) how to overcome the problems resulting from function- and discipline-based “silos.” The book has several novel features. All concepts are presented in a simple and easily accessible question-and-answer format. The book provides an in-depth analysis of a broad spectrum of important managerial topics (e.g., how to allocate advertising funds between Internet and conventional advertising, how to evaluate brand equity for mergers and acquisitions, and how to coordinate product design, marketing strategy, and production). In addition, because of its fusion-based methodology, the book provides decision makers with new tools to address familiar managerial problems (e.g., resource allocation and the design of managerial contracts in multiproduct or multidivisional firms). Throughout the book, the focus is on providing managers with actionable theories and metrics that are rigorous yet practical, and that allow the firm or organization to fuse — not merely interface — different functional areas.
Sharan Jagpal
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195371055
- eISBN:
- 9780199870745
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195371055.003.0011
- Subject:
- Business and Management, Marketing
This chapter compares different models of consumer behavior including standard economic theory and alternative behavioral theories such as prospect theory and assimilation-contrast theory. It shows ...
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This chapter compares different models of consumer behavior including standard economic theory and alternative behavioral theories such as prospect theory and assimilation-contrast theory. It shows that these behavioral theories have important implications for marketing-finance fusion and human resource management. Specifically, they lead to different market implications for new product pricing, pricing over the business cycle, choosing optimal dividend policy, designing bonus plans, and choosing optimal Customer Relationship Management (CRM) strategies.Less
This chapter compares different models of consumer behavior including standard economic theory and alternative behavioral theories such as prospect theory and assimilation-contrast theory. It shows that these behavioral theories have important implications for marketing-finance fusion and human resource management. Specifically, they lead to different market implications for new product pricing, pricing over the business cycle, choosing optimal dividend policy, designing bonus plans, and choosing optimal Customer Relationship Management (CRM) strategies.
Sharan Jagpal
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195371055
- eISBN:
- 9780199870745
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195371055.003.0022
- Subject:
- Business and Management, Marketing
This chapter shows how the firm can use marketing-finance fusion to evaluate mergers and acquisition strategies. It examines the potential gains from mergers, the history of mergers and acquisitions, ...
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This chapter shows how the firm can use marketing-finance fusion to evaluate mergers and acquisition strategies. It examines the potential gains from mergers, the history of mergers and acquisitions, the effect of private equity firms and hedge funds on merger activity and merger performance, and the special problems posed by international mergers. In particular, it shows how buying and selling firms can objectively value brands by combining game theory and data from choice-based experiments.Less
This chapter shows how the firm can use marketing-finance fusion to evaluate mergers and acquisition strategies. It examines the potential gains from mergers, the history of mergers and acquisitions, the effect of private equity firms and hedge funds on merger activity and merger performance, and the special problems posed by international mergers. In particular, it shows how buying and selling firms can objectively value brands by combining game theory and data from choice-based experiments.
Richard Coopey, Sean O'Connell, and Dilwyn Porter
- Published in print:
- 2005
- Published Online:
- September 2007
- ISBN:
- 9780198296508
- eISBN:
- 9780191716638
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198296508.001.0001
- Subject:
- Business and Management, Business History
Since its inception in the late 19th century, Britain's mail order industry both exploited and generated social networks in building its businesses. The common foundation of the sector was the agency ...
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Since its inception in the late 19th century, Britain's mail order industry both exploited and generated social networks in building its businesses. The common foundation of the sector was the agency system; sales were made through catalogues held by agents, ordinary people in families, neighbourhoods, pubs, clubs, and workplaces. Through this agency system, mail order firms in Britain were able to tap social networks both to build a customer base and also obtain vital information on creditworthiness. This history of the British mail order industry combines business and social history to explain fully the features and workings of this industry. It shows how British general mail order industry firms such as Kay and Co., Empire Stores, Littlewoods, and Grattan grew from a range of businesses as diverse as watch sales or football pools. A range of business innovations and strategies were developed throughout the 20th century, including technological development and labour process rationalization. Indeed, the sector was in the vanguard of many aspects of change from supply chain logistics to computerization. The social and gender profile of the home shopper also changed markedly as the industry developed. These changes are charted — from the male-dominated origins of the industry to the growing influence of women both within the firm and, more importantly — as the centre of the mail order market. The book also draws parallels and contrasts with the much more widely studied mail order industry of the United States. The final section of the book examines the rise of internet shopping and the new challenges and opportunities it provided for the mail order industry.Less
Since its inception in the late 19th century, Britain's mail order industry both exploited and generated social networks in building its businesses. The common foundation of the sector was the agency system; sales were made through catalogues held by agents, ordinary people in families, neighbourhoods, pubs, clubs, and workplaces. Through this agency system, mail order firms in Britain were able to tap social networks both to build a customer base and also obtain vital information on creditworthiness. This history of the British mail order industry combines business and social history to explain fully the features and workings of this industry. It shows how British general mail order industry firms such as Kay and Co., Empire Stores, Littlewoods, and Grattan grew from a range of businesses as diverse as watch sales or football pools. A range of business innovations and strategies were developed throughout the 20th century, including technological development and labour process rationalization. Indeed, the sector was in the vanguard of many aspects of change from supply chain logistics to computerization. The social and gender profile of the home shopper also changed markedly as the industry developed. These changes are charted — from the male-dominated origins of the industry to the growing influence of women both within the firm and, more importantly — as the centre of the mail order market. The book also draws parallels and contrasts with the much more widely studied mail order industry of the United States. The final section of the book examines the rise of internet shopping and the new challenges and opportunities it provided for the mail order industry.
George S. Yip and Audrey J.M. Bink
- Published in print:
- 2007
- Published Online:
- October 2011
- ISBN:
- 9780199229833
- eISBN:
- 9780191696374
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199229833.001.0001
- Subject:
- Business and Management, Strategy, International Business
Multinational companies need to manage their relationships with multinational customers with a globally integrated approach. This book provides a systematic framework for developing and implementing ...
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Multinational companies need to manage their relationships with multinational customers with a globally integrated approach. This book provides a systematic framework for developing and implementing such global customer management programmes. It draws on in-depth research at over twenty major US and European multinational companies, such as ABB, Bechtel, BP, Bosch, British Airways, Carrefour, Daimler–Chrysler, Hewlett–Packard, HSBC, IBM, Schlumberger, Shell, Siemens, Tesco, Unilever, Vodafone, Wal–Mart, and Xerox. The book teachers how to think about managing global customers in the context of their overall global strategy, develop effective global customer management programmes, overcome barriers to implementation and success, build better relationships with important customers, and get the entire company to engage with managing global customers. This book takes a strategic, total business, and not just sales, approach to managing global customers. It also takes a customer as well as a supplier perspective. The book provides guidance on both strategy and implementation. It takes a systematic and logic driven approach, yet provides many creative insights and practical advice. The book highlights the rewards of taking a step beyond global account management to create a Global Customer Management approach, integrating globally all aspects of the relationship between supplier and customer. The book gives a framework that guides international companies in using their relationships with global customers to their full potential.Less
Multinational companies need to manage their relationships with multinational customers with a globally integrated approach. This book provides a systematic framework for developing and implementing such global customer management programmes. It draws on in-depth research at over twenty major US and European multinational companies, such as ABB, Bechtel, BP, Bosch, British Airways, Carrefour, Daimler–Chrysler, Hewlett–Packard, HSBC, IBM, Schlumberger, Shell, Siemens, Tesco, Unilever, Vodafone, Wal–Mart, and Xerox. The book teachers how to think about managing global customers in the context of their overall global strategy, develop effective global customer management programmes, overcome barriers to implementation and success, build better relationships with important customers, and get the entire company to engage with managing global customers. This book takes a strategic, total business, and not just sales, approach to managing global customers. It also takes a customer as well as a supplier perspective. The book provides guidance on both strategy and implementation. It takes a systematic and logic driven approach, yet provides many creative insights and practical advice. The book highlights the rewards of taking a step beyond global account management to create a Global Customer Management approach, integrating globally all aspects of the relationship between supplier and customer. The book gives a framework that guides international companies in using their relationships with global customers to their full potential.
Gary Herrigel
- Published in print:
- 2010
- Published Online:
- September 2010
- ISBN:
- 9780199557738
- eISBN:
- 9780191720871
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199557738.003.0005
- Subject:
- Business and Management, Political Economy
Chapter introduces the problem of vertical disintegration, outlining the basic competitive dynamics that give rise to it. A five fold typology of supplier-customer relations is presented: arms ...
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Chapter introduces the problem of vertical disintegration, outlining the basic competitive dynamics that give rise to it. A five fold typology of supplier-customer relations is presented: arms length, captured, modular, relational contracts and sustained contingent collaboration. Sustained contingent collaboration is the modal relation in the current historical environment. The range of supplier strategies and public policies that are emerging to cope with sustained contingent collaboration are extensively discussed.Less
Chapter introduces the problem of vertical disintegration, outlining the basic competitive dynamics that give rise to it. A five fold typology of supplier-customer relations is presented: arms length, captured, modular, relational contracts and sustained contingent collaboration. Sustained contingent collaboration is the modal relation in the current historical environment. The range of supplier strategies and public policies that are emerging to cope with sustained contingent collaboration are extensively discussed.
Grahame R. Dowling
- Published in print:
- 2004
- Published Online:
- October 2011
- ISBN:
- 9780199269617
- eISBN:
- 9780191699429
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199269617.003.0010
- Subject:
- Business and Management, Marketing
This chapter focuses on programmes to increase the likelihood that a customer will continue to buy the organization's products and services, to develop customer loyalty, or reduce customer churn. The ...
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This chapter focuses on programmes to increase the likelihood that a customer will continue to buy the organization's products and services, to develop customer loyalty, or reduce customer churn. The motivations for developing loyalty/ reducing churn are threefold. One is the notion of amortizing the costs of acquiring customers. A second motivation is to reduce the volatility of cash flows. A third motivation is to provide a solid foundation for growth. Part A of the chapter looks at which types of customers to retain. The key issue here is that some customers are likely to be unprofitable. For non-profitable customers to be retained, they must make a contribution to the organization's business performance in another way. Part B then examines how to retain the chosen customers. It outlines three strategies: customer value, customer satisfaction, and service quality.Less
This chapter focuses on programmes to increase the likelihood that a customer will continue to buy the organization's products and services, to develop customer loyalty, or reduce customer churn. The motivations for developing loyalty/ reducing churn are threefold. One is the notion of amortizing the costs of acquiring customers. A second motivation is to reduce the volatility of cash flows. A third motivation is to provide a solid foundation for growth. Part A of the chapter looks at which types of customers to retain. The key issue here is that some customers are likely to be unprofitable. For non-profitable customers to be retained, they must make a contribution to the organization's business performance in another way. Part B then examines how to retain the chosen customers. It outlines three strategies: customer value, customer satisfaction, and service quality.
Claudio Ciborra
- Published in print:
- 2004
- Published Online:
- September 2007
- ISBN:
- 9780199275267
- eISBN:
- 9780191714399
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199275267.003.0004
- Subject:
- Business and Management, Information Technology
Since the second half of the 1990s, IBM has led the way in formulating and deploying an extensive new fabric of processes and tools which allows them to operate efficiently as a truly global company. ...
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Since the second half of the 1990s, IBM has led the way in formulating and deploying an extensive new fabric of processes and tools which allows them to operate efficiently as a truly global company. One such global business process has been Customer Relationship Management (CRM), which consists of an array of processes that streamline all the activities between IBM and its customers across markets, product lines, and locations. This chapter identifies some key limitations of the conventional management approaches. Heidegger's ideas on modern technology — denoted by the German word Gestell — are then used to shed new light on the essence of infrastructure.Less
Since the second half of the 1990s, IBM has led the way in formulating and deploying an extensive new fabric of processes and tools which allows them to operate efficiently as a truly global company. One such global business process has been Customer Relationship Management (CRM), which consists of an array of processes that streamline all the activities between IBM and its customers across markets, product lines, and locations. This chapter identifies some key limitations of the conventional management approaches. Heidegger's ideas on modern technology — denoted by the German word Gestell — are then used to shed new light on the essence of infrastructure.
Coopey Richard, Sean O‘Connell, and Dilwyn Porter
- Published in print:
- 2005
- Published Online:
- September 2007
- ISBN:
- 9780198296508
- eISBN:
- 9780191716638
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198296508.003.0005
- Subject:
- Business and Management, Business History
This chapter discusses the importance of the relationship between mail order and ‘free’ consumer credit. British mail order houses helped their customers finance their purchases by allowing them ...
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This chapter discusses the importance of the relationship between mail order and ‘free’ consumer credit. British mail order houses helped their customers finance their purchases by allowing them credit, usually for a period of twenty weeks, but for up to thirty-eight weeks on some more expensive catalogue items. There was no charge to the customer for this service, the cost to the company being bundled in with the price. Here was a second feature that helped to define British mail order retailing, where installment credit sales accounted for over 80% in value of total sales in the mid-1970s.Less
This chapter discusses the importance of the relationship between mail order and ‘free’ consumer credit. British mail order houses helped their customers finance their purchases by allowing them credit, usually for a period of twenty weeks, but for up to thirty-eight weeks on some more expensive catalogue items. There was no charge to the customer for this service, the cost to the company being bundled in with the price. Here was a second feature that helped to define British mail order retailing, where installment credit sales accounted for over 80% in value of total sales in the mid-1970s.
Terry Gourvish
- Published in print:
- 2002
- Published Online:
- September 2007
- ISBN:
- 9780199250059
- eISBN:
- 9780191719516
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199250059.003.0013
- Subject:
- Business and Management, Business History
This chapter summarizes the main steps in the privatization of railways after 1994 and evaluates the performance of public sector management over twenty years of significant change. It is shown that ...
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This chapter summarizes the main steps in the privatization of railways after 1994 and evaluates the performance of public sector management over twenty years of significant change. It is shown that between 1974 and 1994, British Rail evolved from a rather unwieldy, monolithic structure into one that provided improved services, marketing, and customer care. British Rail's managers also worked to produce their own organizational solution for the industry.Less
This chapter summarizes the main steps in the privatization of railways after 1994 and evaluates the performance of public sector management over twenty years of significant change. It is shown that between 1974 and 1994, British Rail evolved from a rather unwieldy, monolithic structure into one that provided improved services, marketing, and customer care. British Rail's managers also worked to produce their own organizational solution for the industry.
Tony Elger and Chris Smith
- Published in print:
- 2005
- Published Online:
- September 2007
- ISBN:
- 9780199241514
- eISBN:
- 9780191714405
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199241514.003.0008
- Subject:
- Business and Management, International Business
This chapter analyses the evolution of management policies and work and employment relations in two smaller Japanese sub-contractors. Both firms were tightly constrained by customer-supplier ...
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This chapter analyses the evolution of management policies and work and employment relations in two smaller Japanese sub-contractors. Both firms were tightly constrained by customer-supplier relations, possessed limited managerial resources to support innovative production and employment policies, and faced problems in the recruitment, retention, and control of labour. Such circumstances prompted a selective and opportunistic adoption and adaptation of parent company management techniques, characterized in one case by the substantial autonomy of local management, but in the other by a fractious process of conflict within management. Japanese-inspired employment practices were less evident than a resort to the familiar tactics of labour regulation in other small enterprises, mixing elements of paternalism, formalization, informal mutuality, insecurity, and threat. The chapter addresses similarities and differences between the two factories in both management micropolitics and employment relations, linking these to distinctive subsidiary mandates, ownership structures, and relations with customers and competitors.Less
This chapter analyses the evolution of management policies and work and employment relations in two smaller Japanese sub-contractors. Both firms were tightly constrained by customer-supplier relations, possessed limited managerial resources to support innovative production and employment policies, and faced problems in the recruitment, retention, and control of labour. Such circumstances prompted a selective and opportunistic adoption and adaptation of parent company management techniques, characterized in one case by the substantial autonomy of local management, but in the other by a fractious process of conflict within management. Japanese-inspired employment practices were less evident than a resort to the familiar tactics of labour regulation in other small enterprises, mixing elements of paternalism, formalization, informal mutuality, insecurity, and threat. The chapter addresses similarities and differences between the two factories in both management micropolitics and employment relations, linking these to distinctive subsidiary mandates, ownership structures, and relations with customers and competitors.
Mark Bevir and R. A. W. Rhodes
- Published in print:
- 2010
- Published Online:
- May 2010
- ISBN:
- 9780199580750
- eISBN:
- 9780191723179
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199580750.003.0009
- Subject:
- Political Science, Comparative Politics, Political Theory
Chapter 9 turns from elite narratives of the state and its rationalities to the question of how middle-level managers, employees in an office, and citizens experience the state and its ...
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Chapter 9 turns from elite narratives of the state and its rationalities to the question of how middle-level managers, employees in an office, and citizens experience the state and its rationalities. Drawing again on observational fieldwork, the chapter describes the ways in which they construct ‘the state’ in their everyday beliefs and practices. It shows there are significant differences in the way the rationality of managerialism is experienced and understood. These different narratives are stories of resistance and are central to understanding what elites term the ‘implementation gap’ in the reform of the public services.Less
Chapter 9 turns from elite narratives of the state and its rationalities to the question of how middle-level managers, employees in an office, and citizens experience the state and its rationalities. Drawing again on observational fieldwork, the chapter describes the ways in which they construct ‘the state’ in their everyday beliefs and practices. It shows there are significant differences in the way the rationality of managerialism is experienced and understood. These different narratives are stories of resistance and are central to understanding what elites term the ‘implementation gap’ in the reform of the public services.
Grahame R. Dowling
- Published in print:
- 2004
- Published Online:
- October 2011
- ISBN:
- 9780199269617
- eISBN:
- 9780191699429
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199269617.003.0011
- Subject:
- Business and Management, Marketing
This chapter looks in detail at customer relationship management (CRM) as a more holistic approach to customer retention. It is premised on the belief that developing a relationship with customers is ...
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This chapter looks in detail at customer relationship management (CRM) as a more holistic approach to customer retention. It is premised on the belief that developing a relationship with customers is the best way to get them to become loyal, and that loyal customers are more profitable than non-loyal customers. The first section reviews the origins of CRM programmes and in doing so illustrates many of the conditions required for CRM to be successful. The second section reviews CRM programmes in B2B markets. This is where CRM has a long history of success. The third section reviews CRM programmes in B2C markets. The fourth section examines customer loyalty programmes. The final sections focus on the key question facing marketing managers, namely, are CRM programmes likely to be a cost-effective use of marketing funds—relative to the programmes outlined in the previous chapters?Less
This chapter looks in detail at customer relationship management (CRM) as a more holistic approach to customer retention. It is premised on the belief that developing a relationship with customers is the best way to get them to become loyal, and that loyal customers are more profitable than non-loyal customers. The first section reviews the origins of CRM programmes and in doing so illustrates many of the conditions required for CRM to be successful. The second section reviews CRM programmes in B2B markets. This is where CRM has a long history of success. The third section reviews CRM programmes in B2C markets. The fourth section examines customer loyalty programmes. The final sections focus on the key question facing marketing managers, namely, are CRM programmes likely to be a cost-effective use of marketing funds—relative to the programmes outlined in the previous chapters?
Grahame R. Dowling
- Published in print:
- 2004
- Published Online:
- October 2011
- ISBN:
- 9780199269617
- eISBN:
- 9780191699429
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199269617.003.0008
- Subject:
- Business and Management, Marketing
This chapter examines the issue of customer acquisition. It explores how an organization makes an offer to its target consumers that will entice them to buy and keep buying. Part A of this chapter ...
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This chapter examines the issue of customer acquisition. It explores how an organization makes an offer to its target consumers that will entice them to buy and keep buying. Part A of this chapter focuses on value creation, Part B on value communication, and Part C on the delivery of customer value. By focusing and integrating their brand communications, organizations find that the cost-effectiveness of communication is improved relative to a scattergun approach. The design of a distribution channel needs to generate consumer demand and create time and place utility for target consumers. The key marketing function for the distribution channel is to deliver the value offered, and in the process to support the customer value proposition (CVP) and brand position.Less
This chapter examines the issue of customer acquisition. It explores how an organization makes an offer to its target consumers that will entice them to buy and keep buying. Part A of this chapter focuses on value creation, Part B on value communication, and Part C on the delivery of customer value. By focusing and integrating their brand communications, organizations find that the cost-effectiveness of communication is improved relative to a scattergun approach. The design of a distribution channel needs to generate consumer demand and create time and place utility for target consumers. The key marketing function for the distribution channel is to deliver the value offered, and in the process to support the customer value proposition (CVP) and brand position.
Claudia Kwapil, Josef Baumgartner, and Johann Scharler
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780195309287
- eISBN:
- 9780199783939
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195309287.003.0004
- Subject:
- Economics and Finance, Econometrics
This chapter investigates price rigidity after cost and demand shocks in Austria. We find that the average time lag between a shock and the price adjustment is four to six months. Furthermore, firms' ...
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This chapter investigates price rigidity after cost and demand shocks in Austria. We find that the average time lag between a shock and the price adjustment is four to six months. Furthermore, firms' price reactions to cost and demand shocks are asymmetric: prices are stickier downward than upward in the face of cost shocks and the opposite is true in the case of major demand shocks. Finally, our results suggest that tight customer relationships increase price stickiness in response to demand shocks.Less
This chapter investigates price rigidity after cost and demand shocks in Austria. We find that the average time lag between a shock and the price adjustment is four to six months. Furthermore, firms' price reactions to cost and demand shocks are asymmetric: prices are stickier downward than upward in the face of cost shocks and the opposite is true in the case of major demand shocks. Finally, our results suggest that tight customer relationships increase price stickiness in response to demand shocks.
Kiran Mirchandani
- Published in print:
- 2012
- Published Online:
- August 2016
- ISBN:
- 9780801450648
- eISBN:
- 9780801464140
- Item type:
- book
- Publisher:
- Cornell University Press
- DOI:
- 10.7591/cornell/9780801450648.001.0001
- Subject:
- Sociology, Occupations, Professions, and Work
Transnational customer service workers are an emerging touchstone of globalization given their location at the intersecting borders of identity, class, nation, and production. Unlike outsourced ...
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Transnational customer service workers are an emerging touchstone of globalization given their location at the intersecting borders of identity, class, nation, and production. Unlike outsourced manufacturing jobs, call center work requires voice-to-voice conversation with distant customers; part of the product being exchanged in these interactions is a responsive, caring, connected self. This book explores the experiences of the men and women who work in Indian call centers through one hundred interviews with workers in Bangalore, Delhi, and Pune. As capital crosses national borders, colonial histories and racial hierarchies become inextricably intertwined. As a result, call center workers in India need to imagine themselves in the eyes of their Western clients—to represent themselves both as foreign workers who do not threaten Western jobs and as being “just like” their customers in the West. In order to become these imagined ideal workers, they must be believable and authentic in their emulation of this ideal. In conversation with Western clients, Indian customer service agents proclaim their legitimacy, an effort the book calls “authenticity work,” which involves establishing familiarity in light of expectations of difference. In their daily interactions with customers, managers and trainers, Indian call center workers reflect and reenact a complex interplay of colonial histories, gender practices, class relations, and national interests.Less
Transnational customer service workers are an emerging touchstone of globalization given their location at the intersecting borders of identity, class, nation, and production. Unlike outsourced manufacturing jobs, call center work requires voice-to-voice conversation with distant customers; part of the product being exchanged in these interactions is a responsive, caring, connected self. This book explores the experiences of the men and women who work in Indian call centers through one hundred interviews with workers in Bangalore, Delhi, and Pune. As capital crosses national borders, colonial histories and racial hierarchies become inextricably intertwined. As a result, call center workers in India need to imagine themselves in the eyes of their Western clients—to represent themselves both as foreign workers who do not threaten Western jobs and as being “just like” their customers in the West. In order to become these imagined ideal workers, they must be believable and authentic in their emulation of this ideal. In conversation with Western clients, Indian customer service agents proclaim their legitimacy, an effort the book calls “authenticity work,” which involves establishing familiarity in light of expectations of difference. In their daily interactions with customers, managers and trainers, Indian call center workers reflect and reenact a complex interplay of colonial histories, gender practices, class relations, and national interests.
Eric L. Lesser and Michael A. Fontaine
- Published in print:
- 2004
- Published Online:
- October 2005
- ISBN:
- 9780195165128
- eISBN:
- 9780199835751
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195165128.003.0009
- Subject:
- Economics and Finance, Financial Economics
This chapter extends the notion of community to include customers. It focuses on how organizations are bringing together informal groups of customers via the Internet to exchange knowledge, build ...
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This chapter extends the notion of community to include customers. It focuses on how organizations are bringing together informal groups of customers via the Internet to exchange knowledge, build brand loyalty, and provide unique insights into product design and use. The components of a customer community space and King Arthur Flour's creation of its online customer community — the Baking Circle — are discussed.Less
This chapter extends the notion of community to include customers. It focuses on how organizations are bringing together informal groups of customers via the Internet to exchange knowledge, build brand loyalty, and provide unique insights into product design and use. The components of a customer community space and King Arthur Flour's creation of its online customer community — the Baking Circle — are discussed.
