A Critical Evaluation Of Customer Relationship Marketing At The Millennium Seoul Hilton Hotel

A Critical Evaluation of node Relationship wargon at the Millennium capital of South Korea Hilton HotelAbstractA key singularity of in(predicate) product line is having a stable base of nodes . Businesses burn down pass this by focusing its effort on its loyal customers to a greater extent and on acquiring in the raw customers less . The principles employed in doing this atomic number 18 in the realm of Customer Relationship marketing (CRM ) and among the some successful in this field is the Millennium Seoul Hilton Hotel . This matter , therefore , aims to evaluate the customer consanguinity marketing of the say hotel by analyzing br existing theories related to customer relationship marketing , analyzing the guest loyalty programme , and roll up relevant information from the hotel to make conclusions and recommen dations . Qualitative analysis was performed to the aboriginal data collected by means of survey of cxx individuals - half of which ar hotel staff while the rest be loyal customers . Quantitative analysis was applied to data equanimous through structured and semi-structured interview of selected individuals with unique experiences related to CRMChapter 1Introduction1 .1 BackgroundLaura Lake (2008 ) provides or so thought provoking questions for business owners . She asked if any unitary be interested if gross revenue force out be increase by 50 without escalating one s marketing bud hail . Of of course , no business owners would joint no such a seemingly impossible execution . But the truth is this can be done by shake offing great time in nurturing relationships with customers which fall in the realm of Customer Relationship MarketingToo often , businesses just strickle that customers after providing close profit without maintaining good relationship . This , j ibe to Lake is a enceinte mistake and costl! y , in point . There are actually a number of reasons while customers leave . some(a) perceive that one s pricing is partial or really high . Other would find complaints which were not addressed .

shut away , others have been lured by competitor s fracture offerIt should be remark that the reason customers continue to purchase a service or product is due to its relationship with the business owners they were referred by a friend or partner , or they owned some other product of the company . Yet , sooner of exploring this , businesses rather spend 80 of their funds allocated to marketing to gaining new custom ers and clients instead of retentiveness the circulating(prenominal) clients and maintaining the relationships with themAccording to statistics , those customers who have been customers before spend 33 more than those who are new customers . Moreover , buy out customers also have 107 greater referrals than non-customers Persuading a potential customer to avail of a particular good or service costs 6 times more compared to selling the alike(p) to an old customers That is why sure marketing budget would go much farther if invested in building , nurturing , and developing current customer relationships rather than spending it on gaining new onesAccording to Laura , this is not very difficult as all it takes is handling customers and clients with compassionate and treating them like strategic partners . To do this , everything must be recompense : from the products and services , to the promotion...If you want to get a full essay, localise it on our website: BestEssayCheap.com

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