Essays on The Industrial Marketing and Purchasing Case Study

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The paper "The Industrial Marketing and Purchasing" is a wonderful example of a Marketing Case Study. Despite the major steps businesses are making in realizing their goals, it is still clear that a customer is the core focus of any business. This is because the sustainability of the business is greatly dependent on the customer base it enjoys and the ability to serve customer needs in a more efficient and satisfactorily way. To be in a better position to meet the customer demands, it starts with understanding the customer in terms of values, beliefs, and preferences.

It is from this ground that customer relationship management (CSR) is coming into perspective. CRM is founded on the ability of the business to establish and sustain good relationships with its customers. In trying to manage relationships with customers, a database about the company is very necessary to help both the company and the customer access important information. In general, CRM is used by the business to identify its targets, market campaigns, and generation of important business leads. To illustrate how CRM works, the Toyota Motor Corporation of Japan will be used. 1.1 Background Information The Toyota Motor Corporation was established in 1937 in Japan when the 2 Millionth Prius got sold.

The company is the leading manufacturer and seller of cars in the world. For example in the year 2011, the company managed to manufacture 7,267,535 cars. The company is headed by Fuji Cho who is the company board chairman. Toyota Motor is globally recognized brand and this is because of its vision and philosophy which is to manufacture and sell to its customers, reliable vehicles while making sure that sustainable development achieved for the society by applying high and very innovative methods to offer quality products and services to the market (Toyota Motor Corporation 2012). The Toyota Motor Corporation is basically engaged in automobile businesses and to some extent financial services.

Company products include cars, minivans and trucks. The company services also include leasing of vehicles and other equipment. The company to some level is also engaged in designing, manufacturing, and selling housing apart from offering and other communication about the business (Reuters edition 2012). 1.2 Aims First and foremost, this paper is aimed at discussing extensively the concept of customer relationship management using appropriate theories. Investigating into the customer relationship management theories in the United States, Australia, and China. Try and identify those activities that the company will engage in, in order to establish ways of improving CRM with its customers in these three countries. Provide a specific recommendation that will improve the CRM in the three identified markets. 2.0 Relationship Management Theories Customer relationship management is defined as the process of getting various functions of the business, the customers and the technology to work together as an integrated system in order to enhance and maximize the existing relations.

Different relationship management theories have been brought forward to explain the concept of CRM and how it applies in various contexts. The commonly used relationship management theories include the Industrial Marketing and Purchasing (IMP) School, the Anglo-Australian School, the North American school, the Asian (guanxi) school and the Nordic School (Patterson et al 2006).

References

Abbott, J Stone, M and Buttle, F 2001, “Customer Relationship Management in Practice A qualitative study”, Journal of Database Marketing, 9(1), p. 24-34.

Cuthbertson, R and Laine, A 2004, “The Role of CRM within Retail Loyalty Marketing”, Journal of Targeting, Measurement and Analysis for Marketing, 12(3), p. 290- 304.

Kumar, C and Reinartz, W 2006, Customer Relationship Management: A Database Approach. New York: John Wiley.

Kotler, P and Keller, LK 2006, Marketing Management, 12th ed, Pearson Education International.

Patterson, P Cowley, E and Prasongsukarn, K 2006, “Service failure recovery: The moderating impact of individual-level cultural value orientation on perceptions of justice”, International Journal of Research in Marketing, 23(3), p. 263-277.

Peelen, E 2005, Customer Relationship Management, Prentice Hall, UK.

Reuters edition 2012, Toyota Motor Corporation: Overview, retrieved 19th July 2012 from

http://www.reuters.com/finance/stocks/companyProfile?symbol=TM

Toyota Motor Corporation 2012, Globalizing and Localizing Manufacturing, retrieved 19th July 2012 from http://www.toyota- global.com/company/vision_philosophy/globalizing_and_localizing_manufactur ing/

Winer, S.R. 2004, “A Framework for Customer Relationship Management”, California Management Review, 43(4), p. 89-105

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