Effect Of Marketing Mix And Customer Relationship Mix Strategy (CRM) On Customer Satisfaction And Its Impact On Customer Loyalty Of PT. Medan Branch Medion

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Introduction

In today's highly competitive business landscape, maintaining customer loyalty is the key to success for every company. Without loyal customers, a company will find it difficult to survive in a crowded market. To build customer loyalty, companies need to create a sense of satisfaction in the hearts of customers when interacting with the company. The marketing mix and Customer Relationship Mix (CRM) strategy are crucial factors in an effort to create customer satisfaction and loyalty. This research aims to reveal the effect of marketing and CRM mix strategies on customer satisfaction and its impact on customer loyalty at PT. Medan Branch Medion.

Background of the Study

PT. Medan Branch Medion is a leading company in the industry, and maintaining customer loyalty is essential for its success. The company has been using various marketing strategies to attract and retain customers, but the effectiveness of these strategies is still unclear. This research aims to fill this gap by investigating the effect of marketing mix and CRM strategies on customer satisfaction and loyalty.

Literature Review

Marketing mix strategy is a crucial factor in creating customer satisfaction and loyalty. The marketing mix consists of four Ps: product, price, promotion, and place. A company that uses the right marketing mix strategy can increase customer satisfaction and loyalty. CRM is also an essential factor in building customer relationships and increasing customer satisfaction. CRM involves building good relationships with customers through various channels, such as social media, email, and phone.

Methodology

This research uses a quantitative approach with a descriptive design. The population of this study consists of all customers of PT. Medan Branch Medion (100 customers), and the census method is used to ensure that the entire population becomes a research sample. Data analysis uses descriptive statistical analysis and partial least square (SEM-PLS) with the help of the Smart PLS 3.0 program.

Results

The results of this study show that the marketing mix strategy has a positive and significant influence on customer satisfaction. This means that the application of the right marketing mix strategy can increase customer satisfaction with PT. Medan Branch Medion. In addition, CRM is also proven to have a positive and significant influence on customer satisfaction. This shows that efforts to build good relationships with customers through CRM can increase customer satisfaction.

Furthermore, this study also found that the marketing mix strategy has a positive and significant influence on customer loyalty. That is, the right marketing mix strategy can increase customer loyalty to PT. Medan Branch Medion. However, the results showed that CRM had a positive but not significant influence on customer loyalty. This indicates that although CRM can increase customer satisfaction, its effect on customer loyalty still needs to be improved.

Discussion

This study reveals that both the marketing mix strategy and CRM have a positive but not significant influence on customer loyalty through customer satisfaction. This means that although the marketing mix strategy and CRM can increase customer satisfaction, its effect on customer loyalty is indirect through customer satisfaction.

Conclusion

This study shows that the marketing mix strategy has a very important role in building customer satisfaction and loyalty. PT. Medan Branch Medion needs to continue to optimize the marketing mix strategy to increase customer satisfaction and loyalty. In addition, although CRM can increase customer satisfaction, its effect on customer loyalty still needs to be improved. PT. Medan branch medion can evaluate the CRM strategy applied and find ways to increase its effectiveness in building customer loyalty.

Recommendation

  • PT. Medan Branch Medion needs to focus on effective marketing mix strategies to increase customer satisfaction and loyalty.
  • PT. Medan Branch Medions need to evaluate and develop CRM strategies to increase their effectiveness in building customer loyalty.
  • PT. Medan branch media needs to do further research to understand the factors that influence customer loyalty and develop more effective strategies.

Implication of the Study

By understanding the effect of the marketing mix and CRM strategy on customer satisfaction and loyalty, PT. Medan Branch Medion can build a more effective strategy to achieve its business goals, namely increasing customer loyalty and achieving competitive advantage in the market.

Limitation of the Study

This study has some limitations. The population of this study consists of only 100 customers, which may not be representative of the entire customer base of PT. Medan Branch Medion. In addition, the study only investigates the effect of marketing mix and CRM strategies on customer satisfaction and loyalty, and does not explore other factors that may influence customer loyalty.

Future Research Directions

Future research can build on this study by investigating the effect of other factors on customer loyalty, such as customer service, product quality, and price. Additionally, future research can explore the use of other marketing strategies, such as social media marketing and content marketing, to increase customer satisfaction and loyalty.

Conclusion

In conclusion, this study reveals the effect of marketing mix and CRM strategies on customer satisfaction and loyalty at PT. Medan Branch Medion. The results show that the marketing mix strategy has a positive and significant influence on customer satisfaction and loyalty, while CRM has a positive but not significant influence on customer loyalty. This study provides valuable insights for PT. Medan Branch Medion to build a more effective strategy to achieve its business goals.

Q: What is the marketing mix strategy, and how does it affect customer satisfaction and loyalty?

A: The marketing mix strategy refers to the combination of four Ps: product, price, promotion, and place. A company that uses the right marketing mix strategy can increase customer satisfaction and loyalty by offering a product that meets customer needs, setting a price that is competitive and fair, promoting the product effectively, and making it easily available to customers.

Q: What is CRM, and how does it affect customer satisfaction and loyalty?

A: CRM stands for Customer Relationship Management, which involves building good relationships with customers through various channels, such as social media, email, and phone. CRM can increase customer satisfaction and loyalty by providing customers with a personalized experience, responding to their needs and concerns, and offering them exclusive offers and promotions.

Q: What are the benefits of using a marketing mix strategy and CRM in a business?

A: The benefits of using a marketing mix strategy and CRM in a business include increased customer satisfaction and loyalty, improved customer retention, and increased revenue. A marketing mix strategy and CRM can also help a business to differentiate itself from its competitors and build a strong brand reputation.

Q: How can a business measure the effectiveness of its marketing mix strategy and CRM?

A: A business can measure the effectiveness of its marketing mix strategy and CRM by tracking key performance indicators (KPIs) such as customer satisfaction, customer loyalty, and revenue growth. A business can also use tools such as customer surveys, focus groups, and social media analytics to gather feedback from customers and understand their needs and preferences.

Q: What are some common mistakes that businesses make when implementing a marketing mix strategy and CRM?

A: Some common mistakes that businesses make when implementing a marketing mix strategy and CRM include failing to understand customer needs and preferences, not setting clear goals and objectives, and not measuring the effectiveness of the strategy. Businesses should also be aware of the potential risks and challenges associated with implementing a marketing mix strategy and CRM, such as data security and customer privacy concerns.

Q: How can a business stay up-to-date with the latest trends and best practices in marketing mix strategy and CRM?

A: A business can stay up-to-date with the latest trends and best practices in marketing mix strategy and CRM by attending industry conferences and workshops, reading industry publications and blogs, and participating in online forums and communities. A business can also hire a marketing consultant or agency to provide expert advice and guidance on implementing a marketing mix strategy and CRM.

Q: What are some emerging trends in marketing mix strategy and CRM that businesses should be aware of?

A: Some emerging trends in marketing mix strategy and CRM that businesses should be aware of include the use of artificial intelligence (AI) and machine learning (ML) to personalize customer experiences, the use of social media and other digital channels to engage with customers, and the use of data analytics to measure the effectiveness of marketing efforts.

Q: How can a business use data analytics to measure the effectiveness of its marketing mix strategy and CRM?

A: A business can use data analytics to measure the effectiveness of its marketing mix strategy and CRM by tracking key metrics such as customer acquisition costs, customer lifetime value, and return on investment (ROI). A business can also use data analytics to identify areas for improvement and optimize its marketing mix strategy and CRM over time.

Q: What are some best practices for implementing a marketing mix strategy and CRM in a business?

A: Some best practices for implementing a marketing mix strategy and CRM in a business include setting clear goals and objectives, understanding customer needs and preferences, and measuring the effectiveness of the strategy. A business should also be aware of the potential risks and challenges associated with implementing a marketing mix strategy and CRM, such as data security and customer privacy concerns.

Q: How can a business use customer feedback to improve its marketing mix strategy and CRM?

A: A business can use customer feedback to improve its marketing mix strategy and CRM by gathering feedback from customers through surveys, focus groups, and social media analytics. A business can also use customer feedback to identify areas for improvement and optimize its marketing mix strategy and CRM over time.

Q: What are some common challenges that businesses face when implementing a marketing mix strategy and CRM?

A: Some common challenges that businesses face when implementing a marketing mix strategy and CRM include data security and customer privacy concerns, lack of resources and budget, and difficulty in measuring the effectiveness of the strategy. Businesses should also be aware of the potential risks and challenges associated with implementing a marketing mix strategy and CRM, such as data security and customer privacy concerns.