Lesson 3 Flashcards
what is the process for improving the overall performance of a business by better understanding the needs and wants of the customers?
Customer Relationship Management
what are more basic than products and services?
customer needs and requirements
products and services become meaningful only when ?
available and positioned from the customer’s perspective
what is more important than sales volume?
profit
what is a traditional strategy that focuses on individual transactions between company and customers?
transactional marketing
what is the new strategy that focus on the development of the long term relationships with key supply chain participants?
relationship marketing
under relationship marketing, this recognizesthat each individual customer may have unique requirements
micromarketing or one-to-one marketing
3 discrepancies to enable exchange of. goods and services
discrepancy in space, time, and quantity and assortment
the location of production services and consumption are seldom the same
discrepancy in space
the difference in timing between production and consumption
discrepancy in time
mismatch between customer demand and manufacturing supply
discrepancy in quantity and assortment
customer seek:
____ quantities
____ assortment
small; wider
firms specialize:
____ quantities
____ assortment
larger; limited
4 generic supply chain service outputs to eliminated discrepancy
spatial convenience
lot size
waiting time
product variety and assortment
the amount of shopping time and effort that will be required on the customer’s part
spatial convenience
the number of units to be purchased in each transaction
lot size
the amount of time the customers must wait between ordering and receing the product
waiting time
what marketing approach where firm markets to customers through a variety of channels
omnichannel marketing
3 levels of customer accommodation
customer service, satisfaction, success
3 levels of customer accommodation
customer service, satisfaction, success
fundamental elements of customer service
availability, operational performance, service relibility
the capacity to have inventory when desired by customers
availability
magnitude or impact of stockouts over time
fill rate
a firm has not product available to fulfill customer demand
stockouts
