*Asst. Professor, Indore Institute of Management & Research
**Head & Professor, Indore Institute of Computer Applications
Online published on 11 November, 2013.
The business organizations who plan to capitalize the worth of customers need to manage the sales prospective from customer referral proactively. To persuade existing clientele to generate referrals, a trader can offer incomparable value to current customers through either admirable quality or very attractive charges. Rewards to the customers for referring other customers can also encourage referrals. We investigate
When referral rewards should be offered to stimulate referrals and derive the optimal amalgamation of reward and price that will lead to the most profitable referrals. Many firms are now using referral marketing campaigns to strap up the power of word of mouth and to increase referrals to acquire new customers. Market competition becomes much larger role in anticipating lasting development of the organization, with a basis of strategic management, business process efficiency and organizational capital. This research study examines the impact, role and advantages of referral marketing and one to one segmentation in the warehousing. It covers different aspects which are of at most importance for Referral marketing, one to one segmentation and Warehousing as well. It has also enlightened the concept of referral management system with one to one approach for better functioning and success in the Warehousing. Especially the adaptation of technology that allowed the adoption of more efficient organizational solutions where Referral marketing can be the most aspired channels.
Referral Marketing, One-to-One Segmentation, Warehousing, logistics, Word of Mouth effect, marketing in Warehousing