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Achieving a Strategic Sales FocusContemporary Issues and Future Challenges$
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Kenneth Le Meunier-FitzHugh and Tony Douglas

Print publication date: 2016

Print ISBN-13: 9780198706632

Published to Oxford Scholarship Online: August 2016

DOI: 10.1093/acprof:oso/9780198706632.001.0001

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Customer relationships and lifetime management

Customer relationships and lifetime management

Chapter:
(p.35) 3 Customer relationships and lifetime management
Source:
Achieving a Strategic Sales Focus
Author(s):

Tony Douglas

Kenneth Le Meunier-FitzHugh

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198706632.003.0003

The chapter considers the sales organization’s responses to increasing customer demands. Proactive customer management is required throughout the customer’s interaction with the organization. Keeping existing customers is arguably more profitable and less costly than finding and developing new ones, but the right customers to invest in have to be identified and they need constant attention to grow. An allied topic is customer relationship management (CRM) and its central role in creating value for customers, as sellers move away from transactional selling to longer-term, more profitable relationships with buyers. Sales are creating closer relationships with intermediaries and we discuss the nature of relationship quality and how it can lead to customer trust, commitment, and loyalty. However, not all customers require relationships with their suppliers and we look at the importance of customer portfolio management.

Keywords:   customer selection, customer segmentation, customer value, customer relationships, CRM

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