Categorical apparatus of individual marketing
The aim of the article. The aim of the article is to clarify the essence of individual marketing and its interconnection with relationship marketing, CRM, direct marketing and database marketing based on a study of the marketing genesis and the evolution of the process of individual communication be...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Sumy State University
2013-12-01
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| Series: | Marketing i Menedžment Innovacij |
| Subjects: | |
| Online Access: | http://mmi.fem.sumdu.edu.ua/sites/default/files/mmi2013_4_66_74.pdf |
| _version_ | 1797330648513380352 |
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| author | I.L. Reshetnikova Yu.A. Eremenko |
| author_facet | I.L. Reshetnikova Yu.A. Eremenko |
| author_sort | I.L. Reshetnikova |
| collection | DOAJ |
| description | The aim of the article. The aim of the article is to clarify the essence of individual marketing and its interconnection with relationship marketing, CRM, direct marketing and database marketing based on a study of the marketing genesis and the evolution of the process of individual communication between buyer and seller. We consider relationship marketing as the most general notion that involves individual marketing, CRM, direct marketing and database marketing. Relationship marketing is to be viewed as establishing long-term relationships between seller and buyer on mutually beneficial basis. The emergence of information technologies and their widespread use in business has a significant impact on relationship marketing and led to the concept of CRM.
The results of the analysis. We consider CRM as business strategy which is based on information technologies and designed to provide long-term, mutually beneficial relationships with customers through client-oriented approach and the creation of high customer value to the product and company. CRM and CRM-systems that are designed to work with customers' databases and are operating with huge volumes of information for marketing purposes have contributed to the realization of the principles of individual marketing.
Conceptual approaches to the definition of the concepts of «individual marketing» and CRM allow us to identify common and distinctive features as well as the interdependency between them. It is appropriate to talk about CRM as the concept which is broader than individual marketing. CRM focuses on relationships with customers, and the main objective of it is to establish long-term relationships for mutual benefit, while individual marketing needs to be supported by resources and technologies to create a specific product that is able to meet the particular individual needs of customers. It should be noted that the practical implementation of the principles of CRM is possible when using an individualized approach to a client in respect with the all marketing complex. Database marketing can be called a technical tool that provides a CRM-system with incoming data.The authors make clarifications and distinctions between the concepts of direct marketing and database marketing. Direct marketing is focused on the use of databases for construction of communications with individual clients in order to get a direct response from them. In this case, database marketing can be called a technical tool associated with creation of the customers’ database, and direct marketing is a practical tool to interact with consumers.
Conclusions and directions of futher researches. In the future, it is important to consider the cost-effectiveness of individual marketing that is linked with the development of internet technology, as well as the possibility of use of individual marketing. It is necessary to clarify limiting factors of using individual marketing. Such factors may include, for example, difficulty in planning of economic activity, creating of harmonious assortment, invasion in privacy of consumers, economic practicability, etc. |
| first_indexed | 2024-03-08T07:22:46Z |
| format | Article |
| id | doaj.art-e3b24544180c433ea5b32638c105ef44 |
| institution | Directory Open Access Journal |
| issn | 2218-4511 |
| language | English |
| last_indexed | 2024-03-08T07:22:46Z |
| publishDate | 2013-12-01 |
| publisher | Sumy State University |
| record_format | Article |
| series | Marketing i Menedžment Innovacij |
| spelling | doaj.art-e3b24544180c433ea5b32638c105ef442024-02-02T22:59:46ZengSumy State UniversityMarketing i Menedžment Innovacij2218-45112013-12-01446674Categorical apparatus of individual marketingI.L. ReshetnikovaYu.A. EremenkoThe aim of the article. The aim of the article is to clarify the essence of individual marketing and its interconnection with relationship marketing, CRM, direct marketing and database marketing based on a study of the marketing genesis and the evolution of the process of individual communication between buyer and seller. We consider relationship marketing as the most general notion that involves individual marketing, CRM, direct marketing and database marketing. Relationship marketing is to be viewed as establishing long-term relationships between seller and buyer on mutually beneficial basis. The emergence of information technologies and their widespread use in business has a significant impact on relationship marketing and led to the concept of CRM. The results of the analysis. We consider CRM as business strategy which is based on information technologies and designed to provide long-term, mutually beneficial relationships with customers through client-oriented approach and the creation of high customer value to the product and company. CRM and CRM-systems that are designed to work with customers' databases and are operating with huge volumes of information for marketing purposes have contributed to the realization of the principles of individual marketing. Conceptual approaches to the definition of the concepts of «individual marketing» and CRM allow us to identify common and distinctive features as well as the interdependency between them. It is appropriate to talk about CRM as the concept which is broader than individual marketing. CRM focuses on relationships with customers, and the main objective of it is to establish long-term relationships for mutual benefit, while individual marketing needs to be supported by resources and technologies to create a specific product that is able to meet the particular individual needs of customers. It should be noted that the practical implementation of the principles of CRM is possible when using an individualized approach to a client in respect with the all marketing complex. Database marketing can be called a technical tool that provides a CRM-system with incoming data.The authors make clarifications and distinctions between the concepts of direct marketing and database marketing. Direct marketing is focused on the use of databases for construction of communications with individual clients in order to get a direct response from them. In this case, database marketing can be called a technical tool associated with creation of the customers’ database, and direct marketing is a practical tool to interact with consumers. Conclusions and directions of futher researches. In the future, it is important to consider the cost-effectiveness of individual marketing that is linked with the development of internet technology, as well as the possibility of use of individual marketing. It is necessary to clarify limiting factors of using individual marketing. Such factors may include, for example, difficulty in planning of economic activity, creating of harmonious assortment, invasion in privacy of consumers, economic practicability, etc.http://mmi.fem.sumdu.edu.ua/sites/default/files/mmi2013_4_66_74.pdfindividual marketingrelationship marketingcustomer relationship management (CRM)direct marketingdatabase marketing |
| spellingShingle | I.L. Reshetnikova Yu.A. Eremenko Categorical apparatus of individual marketing Marketing i Menedžment Innovacij individual marketing relationship marketing customer relationship management (CRM) direct marketing database marketing |
| title | Categorical apparatus of individual marketing |
| title_full | Categorical apparatus of individual marketing |
| title_fullStr | Categorical apparatus of individual marketing |
| title_full_unstemmed | Categorical apparatus of individual marketing |
| title_short | Categorical apparatus of individual marketing |
| title_sort | categorical apparatus of individual marketing |
| topic | individual marketing relationship marketing customer relationship management (CRM) direct marketing database marketing |
| url | http://mmi.fem.sumdu.edu.ua/sites/default/files/mmi2013_4_66_74.pdf |
| work_keys_str_mv | AT ilreshetnikova categoricalapparatusofindividualmarketing AT yuaeremenko categoricalapparatusofindividualmarketing |