The new face of marketing

Date of publication: June 15, 1997

Abstract:

Getting dose to customers, understanding and meeting their needs in terms of products, services and business relationships have been for many years the key corporate success factors. Of late much has changed, companies are now being forced to change their strategic focus to one which majors on retention and longevity of customer relationship. Three key issues now dominate (or should dominate) the agendas of most senior managers: retention of customers and the longevity of their relationship; attraction of competitors’ customers; and maximising the effectiveness of marketing spend. Behind all three of these issues is one underlying factor - commitment (as opposed to loyalty). This paper questions the overriding preoccupation of many organisations on customer satisfaction and also the waste of marketing expenditure which is targeted at those unlikely ever to change suppliers. It is based on a highly successful commitment segmentation technique that has been used in 1000 surveys worldwide.

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