Branding is typically about customers. But a business owner needs to manage relationships will all stakeholders: investors, employees, and. This chapter accentuates various Relationship Marketing (RM) perspectives of with a focus on Stakeholder Causal Scope (SCS) to realize how RM has been . Social Network Marketing: Customer Value, CRM, and Competitive Actions. A Stakeholder Perspective on Relationship Marketing the stakeholder markets, in general, and customer markets, in particular, are proposed.
He closes the laptop screen down.
At least the relationship between Uber and its customers is still healthy. For example, Apple has an exceptional brand with their customers and investors; it has the highest measured brand equity and is currently the most valuable company in the world. But it is known for having a reputation of being harsh to its partner organizations, and hard to work with.
I define a stakeholder as anyone who would be affected if the company was suddenly to go away.
Intro to Stakeholder Relationships
By that measure, the company was creating some value or liability for them. These people can be classified into four groups: All of the relationships have an exchange of value and an exchange of information. The exchange of value is the essential of the two; the person is not a stakeholder unless you exchange value, no matter how much you communicate with them.
See how long your employees stick around if you stop paying them, or conversely, how long they last if they stop contributing. Similarly, relationships with investors, partner organizations and customers will deteriorate if the value exchange ceases.
Investors trade capital for future growth or dividends. For the purposes of an introduction to marketing, the more generic terms for the different types and characteristics of people with which an organisation develops relationships would include: We will now look at how we differentiate between the internal and external customer.
Internal Customers Internal customers are those colleagues and departments within your own organisation. Again in the previous module we looked at internal functions and how marketing can be used internally for the flow of internal services and communication.
- Category: Relationship Marketing
Sometimes you are the customer and sometimes you are the service provider. There are of course many other internal parts of the business.
External Customers External customers are more likely to be customers, users, and stakeholders. As we said in previous lessons in this module, customers are those that exchange money for goods and services and consumers are those that actually use the product and as we said they may or may not be the same person.
Stakeholder Relationships - BMB
So a user is the same as a consumer. According to Blythestakeholders are people who are impacted by corporate activities. An obvious stakeholder might be a shareholder since they have voting rights at annual general meetings.
A less obvious stakeholder would be the person that owns the land next to your factory, or the family that is supported by the father that works in your warehouse.
A connected stakeholder is one with the direct association with your business, and this would be a supplier or a shareholder.
Obviously other stakeholders would not have the same strength of connection, for example in the case of the local community. Example — Starbucks Coffee We going to look at Starbucks coffee as an example of a company that has both internal and external customers, and we should be able to apply some of the terminology that we introduced above.
International Journal of Economic Practices and Theories
The internal customers will be the people that work within the business of Starbucks. The internal customers will be everyone from the Board of Directors of the company, to the supervisors and team members that serve coffee at the customer interface.Customer Relationship Marketing - What is it?
So information and communication will flow from the board of directors to the people on the ground, and data and feedback from customers can flow from the people in the coffee shops back to the internal customers in the marketing department. External customers and consumers will be the everyday public that come in to the coffee shop and buy coffee for themselves and their friends.
Of course the user will be the consumer of the product, whether that is the purchaser or not.