Relationship Marketing Strategy and implementation

420 Relationship Marketing

strengths; however, true relationship strategies begin not with the
concept of a bundle of features or even a brand, but rather with a
clear understanding of what constitutesvaluein the eyes of the cus-
tomer.
The goal of relationship marketing is to create and deliver supe-
rior customer value on a continuing basis. To help in the develop-
ment of an integrated approach to the achievement of this goal we
have proposed the use of a planning template known as the
‘Relationship Management Chain’.^12
The chain seeks to operationalize the Six Markets model by
achieving a common focus around the creation of customer value. It
is suggested that there are four distinct – but linked – elements in
the chain (see Figure 6.7).

1 Defining the value proposition
2 Identifying appropriate customer value segments
3 Designing value delivery systems
4 Managing and maintaining delivered satisfaction.

Manage Internal Markets

• Marketing planning – internal


• Culture, climate and employee retention

Manage External Markets

• Marketing planning – external


• Customer relationship management

Define the

value proposition

Segmentation

targeting &

positioning

Operations &

delivery

processes

Measurement

& feedback

• Understand the
  customer value chain


• Where and how do we
  intend to create
  customer value


• Competitive
  benchmarking
  
  
  • Identify customer
    value preferences
  
  
  • Segment profit-
    ability analysis
    
    
    • Mass customization
    
    
    • Partnering (value-
      added
      partnerships)
    
    
    • Process re-
      engineering
      
      
      • Service process
        monitoring
      
      
      • Customer satis-
        faction studies
      
      
      • Employee satis-
        faction studies
      
      
      
      
    
    
    
    
  
  
  
  


• Configure the
  value package

Figure 6.7 The relationship management chain.