automobile market? If no, why not and if yes, how? 2. Why did Hondo Motor Company create Acura Motors? Why did they just not make “fancier” Hondas? 3. Please briefly describe some of the major variables that might be used to segment the consumer market. 4. What is Market Targeting? s. Please provide an example of a company that uses the following marketing strategies overall or for a specific product (please specify the product): a. Undifferentiated strategy b. Differentiated strategy c. Concentrated strategy: 6. What is a Positioning Statement? 7. What is Differentiation? Why might a company want to differentiate itself from other companies or differentiate its product from competitor’s products’?
April 4, 2021
Summarize the steps that are required for closure of the project, including final release verification and sign-off.
April 4, 2021

Answer: Option (C) – Customer Relationship Management

Explanation: Customer Relationship Management or CRM is the process through which an organization manages its interaction with its customers in order to retain existing customers as well as acquire new customers. CRM incorporates all the activities such as marketing, sales, orders, support, etc. Offering membership and loyalty programs with the objective of customer retention and customer delight is also an important component of the various CRM activities that businesses undertake. In the given case, where Kimpton hotels encourages the customers to join their membership program and provide key contact information such as their e-mail, address and phone number and offers upgrades and free room to them is a form of customer relationship management activity.

The post 40. Creating long-term relationships with customers is a key component to surviving and thriving in today’s competitive business landscape. One tactic many companies are deploying is the use of membership or loyalty programs where customers can accumulate points and receive discounts or free merchandise. For example, Kimpton Hotels encourages customers to join their membership program and provide key contact information such as their e-mail, address, and phone number. Kimpton Hotels offers benefits such as upgrades and free room based on the number of stays or points a customer has accumulated. This example demonstrates how nights Kiimpton Hotels is utilizing: a. marketing mix deployment b. marketing technology c. customer relationship management d. competitive insight appeared first on Academicden.

 

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