Financial bonds
In the previous week, we emphasized that the core focus of relationship marketing is on building a long term relationship with customers. The process of getting to know a customer and understanding his needs is a long process. So how to firms bond with customers? What are the various strategies they adopt to retain selected customers?
Berry and Parasuraman (1991), identified four types of bonds.
- Financial bonds
- Social bonds
- Customization bonds
- Structural bonds
Class Sessions
1- Benefits of CRM
2- Marketing Benefits
3- Service Benefits
4- Benefits to Customers
5- Learning Goals
6- Four Types of Bonds
7- Types of Defectors
8- Strategies to reduce customer defections
9- CRM Framework -Switching
10- CRM Framework -Satisfaction
11- CRM Framework -Trust
12- CRM Framework -Commitment
13- CRM Framework -Loyalty
14- Summary
15- Additional Resources
16- summary
17- Additional Resource
18- Characteristics of Service
19- Customer Defection in Service
20- Summary and additional Resources
21- Sales Force Automation