Relationship marketing is a popular strategy. It is based on establishing a mutually beneficial exchange between the parties to a business, which often requires a personal relationship with the customer. Anyway, this strategy is not a ‘silver bullet’. There are many examples of failure of marketing programs designed to build loyalty. If done improperly, the relationship marketing strategy will not achieve the objectives. A strategy can not be effective for a particular program. In what situations should use the strategy? What applications are most appropriate? If the customer interaction is a requirement of a relationship marketing program, what customer information should capture and how we should use to modulate our future relations with it?
The objective of many marketing strategies of the past 10 years has been building client commitment to a brand or a dealer. This has taken three forms:
- Create customer satisfaction, providing products and services of the highest quality.
- Building brand value, the sum of intangible assets of a brand.
- Creating and maintaining relationships.
Success in any of these strategies result in high levels of repeat purchases, isolation from price increases, and increased customer response to marketing communications.
Relationship marketing has sought to build interdependence between the parties and was based on one to one communication, historically implemented by the sales force. With the growth of database marketing and the Internet, the ability to reach individual customers has become a viable strategy for all businesses, including consumer products.
- Create customer satisfaction, providing products and services of the highest quality.
- Building brand value, the sum of intangible assets of a brand.
- Creating and maintaining relationships.
Success in any of these strategies result in high levels of repeat purchases, isolation from price increases, and increased customer response to marketing communications.
Relationship marketing has sought to build interdependence between the parties and was based on one to one communication, historically implemented by the sales force. With the growth of database marketing and the Internet, the ability to reach individual customers has become a viable strategy for all businesses, including consumer products.
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