The paper "Customer Loyalty and Relationship Marketing of Starobe Company" is a wonderful example of an assignment on marketing. I would like to present to you a report concerning the effectiveness of Customer Loyalty and Relationship Marketing. I prepared the report in compliance with company requirements and standards. Its main purpose is to demonstrate the benefits of employing Customer Loyalty and Relationship Marketing in the company. It covers the executive summary, background information of the company, aims, and scope; evidence-based literature review, findings, conclusion, and recommendations. Therefore, the action requested in the report is the approval of the use of the CLRM strategy in the company. Executive summary This is a report of Starobe Company that concerns the possibility and effectiveness of employing Customer Loyalty and Relationship Marketing (CLRM).
The company will be opened in Melbourne, Australia, and its main business is in banking. The company will majorly deal in receiving deposits, providing channels of lending activities, and mortgages. The company’ s personnel will consist of the Chief executive Officer, directors, departmental managers, accountants, customer service personnel, sales officers, as well as subordinate employees. The company will open new branches in the future across Victoria, and its main target market constitutes professionals, farmers, and business people.
In order to cope with the competition offered by the already existing firms in the area, Starobe Company will employ a wide variety of marketing strategies, such as advertisement, use of social network sites like Facebook and Twitter, Sales Promotion, and trade shows. Most importantly, the firm intends to utilize a Customer Loyalty Relationship Marketing (CLRM) strategy in order to improve its client acquisition and retention rates, increase profits and sales, and promote its general performance. This report explores the effectiveness of loyalty programs by the company by using an evidence-based literature review.
It also determines the benefits of customer retention, as well as ways of managing value by use of loyalty programs. It will also analyze some of the survey findings achieved in relation to the effectiveness of the CLRM strategy. It also identifies and describes some of the existing loyalty programs of companies, their benefits, and their limitations. Background Information Starobe Company is a financial firm that is set to start this year, and it will be situated in Melbourne, Australia.
The company will deal with banking activities, such as, taking deposits, channeling money into lending activities; and holding mortgages. The company personnel will comprise of the Chief Executive Officer, directors, departmental managers, accountants, salespersons, and subordinate staff. The main target market of the company consists of professionals, business people, and farmers around the city.