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<HTML> <HEAD> <!--SCRIPT LANGUAGE="JavaScript" SRC="http://a1835.g.akamai.net/f/1835/276/3h/www.netlibrary.com/include/js/dictionary_library.js"></SCRIPT> <SCRIPT LANGUAGE="JavaScript"> if (!opener){document.onkeyup=parent.turnBookPage;} </SCRIPT!--> <META HTTP-EQUIV="Cache-Control" CONTENT="no-cache"> <META HTTP-EQUIV="Pragma" CONTENT="no-cache"> <META HTTP-EQUIV="Expires" CONTENT="-1"><META http-equiv="Content-Type" content="text/html; charset=windows-1252"><SCRIPT>var PrevPage="Page_71";var NextPage="Page_73";var CurPage="Page_72";var PageOrder="84";</SCRIPT> <TITLE>Document</TITLE> </HEAD> <BODY BGCOLOR="#FFFFFF"><CENTER><TABLE BORDER=0 WIDTH=100% CELLPADDING=0><TR><TD ALIGN=CENTER> <TABLE BORDER=0 CELLPADDING=2 CELLSPACING=0 WIDTH=100%> <TR> <TD ALIGN=LEFT><A HREF='Page_71.html'>Previous</A></TD> <TD ALIGN=RIGHT><A HREF='Page_73.html'>Next</A></TD> </TR> </TABLE></TD></TR><TR><TD ALIGN=LEFT><P><A NAME='JUMPDEST_Page_72'/><A NAME='{28F}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH='100%'><TR><TD ALIGN=RIGHT><FONT FACE='Times New Roman, Times, Serif' SIZE=2 COLOR=#FF0000>Page 72</FONT></TD></TR></TABLE><A NAME='{290}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=17></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3><B>The Online Corner Store</B></FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{291}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=12></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>With detailed information about the customer's habits at the point-of-contact, a website can provide individualized interaction, much like the neighborhood store. For example, a bookseller website can display titles matching an individual consumer's preferences. With growing personalized attention during every transaction, a website customer will perceive added value in their relation with that bookseller. The focus of this type of individualized marketing is on owning a greater market share of an individual customer over time. A clear advantage to relational marketing is that during the process of increasing the share of each customer, the company is both building a long-term relationship and learning about that customer with every transaction. This has an additional benefit since it is cheaper to increase sales to existing customers than to acquire new customers.</FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{292}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=12></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>The website can track customers, it can enable interactive dialog, and it can allow mass customization of products and services created and presented to an individual's unique needs and requirements. The key is to know about as much as possible about each of your website customers. Dialog is the most important aspect of relational marketing. You need to facilitate website visitor communications—act on their feedback and reciprocate by making suggestions and recommendations—in order to build trusting and loyal relationships, which in turn will translate into more online sales and profits.</FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{293}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=12></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>The use of lifestyle data, or ''psychographics," became prevalent in the 1980s, and in the 1990s Regis McKenna introduced the concept of relationship marketing. McKenna suggested moving away from marketing to everybody and instead concentrating on knowing your customers and developing a relationship with them. McKenna's marketing concepts are about developing products and services to serve a specific market, by defining the standards in that market and developing a deep relationship with those customers. More important, relational marketing is a concept ideal for the Web and electronic retailing. The rapid decline of computer prices, coupled with their increased performance and storage capacity, has made the practice of using databases in marketing almost commonplace during the last decade.</FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{294}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=12></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>A more recent concept further narrows the marketing from segment to that of individuals. Marketing visionaries Peppers and Rogers in their book <I>The One-to-One Future</I> actually saw the marketing environment a full year before the Web burst into the scene. In their book they introduced the concept of marketing to an individual on a</FONT><FONT FACE='Times New Roman, Times, Serif' SIZE=3 COLOR=#FFFF00><!-- continue --></FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{295}'/></FORM></P></TD></TR></TABLE><P><FONT SIZE=0 COLOR=WHITE></CENTER><A NAME="bottom"> </A><!-- netLibrary.com Copyright Notice --> </BODY></HTML>
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