ECO 211 Lecture Notes - Lecture 11: Known Fact, Customer Relationship Management, Loyalty Program

• School: University of Miami
• Department: Economics
• Course: ECO 211
• Professor: Lorca Maria

Document Summary

A small retailer that uses multiple marketing channels to get their product out. The official wine of several president inaugurations. Value provided by distribution channel: 1. The distributor actually take possession (title) of the item. The broker doesn"t take title, but gets a commission: 2. Why do they use multiple channels: to reach multiple market segment. Opportunities and problems with selling wine online: opportunities can sell it cheaper (avoiding the middle man, problem still illegal in about 20 states, underage kids could be buying it. Customer relationship management (crm) = a set of strategies to identify and build loyalty with a retailer"s best customers. The customer will buy from the retailer: 2. The crm process (steps): step 1 collecting customer data. Customer database should have these to be accurate: transactions at the sku level, total number of customer contacts, preferences like style, size or color, descriptive information like demographics.