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Relationship Marketing Essay

1791 words - 8 pages

RELATIONSHIP MARKETING
The successful relationship marketing is to understand the cross-cultural issues between buyers and sellers. This issue is particular for buyers and suppliers marketing relationships when doing business. Robert, 2010, p146 Relationship marketing (2011) (1) Relationship marketing is the name strategy that entails forgiving long-term partnerships with customers companies build relationship with customers by offering value and providing customer satisfaction. Marketing activities that are aimed at developing and managing trusting and long term relationship with larger customers. Relationship marketing is a form direct response marketing it place emphasis on building ...view middle of the document...

By building relationships based on the service not price meaning your customer are no longer price sensitive, which means a happy customer base and healthy profits. Advantages of relationship marketing (2011) 1.
(3) Characteristics: Relationship marketing it focuses on partners and customers rather than on the company’s product. It put more emphasis on customer retention and growth than on customer acquisition. It relies on the cross-functional teams rather than on departmental-level work it relies more listening and learning than on talking. Relationship marketing- Kotler on marketing (2011) 1
(4) Relationship market and loyalty: Relationship marketing is the process of creating, maintaining and enhancing strong, value-laden relationship with customers and other stakeholder. The goal of relationship marketing is to deliver long-term value and measure of long-term customer’s satisfaction. This involve collecting information (using loyalty card) about how often consumers visit this shop, what products they purchase and so on. By so doing the company can try to deliver the products which the consumers are likely to purchase. The loyalty cards the cornerstone of this relationship marketing, as it is the one, which hold consumer data. According to, the underpinning principal business that driver’s consumer relationship marketing in royalty scheme understands of consumer behavior.
(5) Benefit of relationship marketing: Loyal customers will recommend your business to others. Loyal customers are willing to try some of your new product, because they trust your customers will be willing to pay more for your service s. loyal customers will tell you about the problems with your product .Retaining customers for a long-term often many benefit. Learning marketing (2011) 1
Customers think that the service knows their preference and have tailored services to suit their needs over a period of time and they do not want to change this arrangement they have the remaining loyal. Customers have the sense of well-being and quality of life as they have long term relationship with the service provider. Customer remains loyal and receives more value compared to the competitors. Bilton, Jones, Bonnet (2006).p. 45
(6)Factors influencing the effectiveness of relationship marketing: Relationship marketing both in the business practice and focus of academic research has experience expositive growth in the past decade: Srini and Moorman cited by Palmatier, Dant, Grewal and Evans (2006) p.136 Relationship satisfaction with the relationship and differs from the customer satisfaction with the overall exchange. The mediator are merely indicator of the global mediator. Relationship quality, which is an overall assessment of the strength of a relationship and the conceptualized as a multi-dimensional contract that captures the many different facets of an exchange relationship Wulf, Schroder, Lacobucci cited by
(7)Relationship marketing with the internet: It is...

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