MKT 700 Study Guide - Midterm Guide: Sears Canada, E-Commerce, Customer Retention

• School: Ryerson University
• Department: Marketing
• Course: MKT 700
• Professor: Richard Michon

Document Summary

Purpose: to crate and maintain a bond of loyalty between you and your lifetime customers. Goals haven"t change methods have: still maintain customers info and use it to communicate with them. Includes communication via direct mail, catalogs and phone calls. Biggest change arrival of websites/ emails/ mobile marketing. Problem: the lift we get from dynamic content does not seem to be as great as the lift we get from frequent communications. Today on top of those methods we use new ways including emails, web sites, cell text, voice messages and social media. Marketing databases keeps all sorts of info about customers: Limitation: human ability and willingness to devise methods for using data: email has become the primary way for communicating with customers. Back in the day before there were supermarkets, groceries were brought in small corner stores and the owner would be at the entrance greetings customers personally.