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Relationship Marketing
Customized mailing is a preferred way of selling the products and services as compared to the mass mailing. As evident, currently customized mailing is norms in which a firm strives to create and maintain long-term elations with its customers.
It is generally agreed that a firm that is equipped to create, maintain and manage customer relationship over the life of a customer is at a better position to sustain its advantages, so there is no wonder that a company that looks for mass marketing strategy is likely to be left behind in the fast and dynamic competitive arena (Greene, 44).
Research has shown that creating a new customer is far more expensive for a firm than retaining an existing customer.
Therefore, firms that try to understand customers and meet their demands in products and services often incur less cost in their marketing efforts.
Through mass customization mailing strategy, it has become common for companies to retain customers for their life times than simply attract and capture them for one set of transactions. On the other hand, a number of established traditional firms are becoming cautious before making their moves for mass customization mailing, because the benefits of this strategy are still unknown. Although a growing number of emerging companies has started to add more value for customers by offering them the products of their choice at a premium price, yet the long-range potential of these firms are not well-known, since several of these companies are still cash-hungry. With the rise of the e-commerce, the dot.com firms are trying to capitalize on the mass customization strategy. For example, take the case of Charles Schwab that allows its customers to review their account and make changes according to their preferences (Keen, 50).
References
Greene, A. (2000), The missing element of an e-strategy
Manufacturing Systems, January 18 (1), P. 44
Keen, P.G.W. (2000), Back to processes, Computerworld, May 8, 2000, 39 (19), p. 50.
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