Relationship Marketing Making the Customer Count
Relationship marketing is one of the key sections in the enhancement of business performance it’s important to learn the relevance of this topic as it helps us understand the role it plays in the service
Industry. We can further state that relationship marketing is the identifying, establishing, maintaining, enhancing, modifying and terminating of relations with clients so as to establish value for customers and net profit value for organizations.
The service industry needs to keep up with the new turn of events. For a business to succeed it needs to concentrate on its existing customers and how to retain them. In any marketing
activity customers have always been the main focus but company views regarding this are changing overtime.
In the 1980s, emphasis was targeted on individual sale but over the 1990s, emphasis is placed on an individual client. The current business scenario which is increasingly competitive requires marketing be viewed as a total approach to business and the customers affirms a central position. Advertising, market research, promotions are activities that are just further away from the point.
Relationship marketing states that attracting new customers is just the first step and that the key is in customer retention.
Marketing should ensure that a firm keeps and improves the relationship with its customers.
The loyalty ladder or relationship marketing ladder defines customer loyalty. It shows the stag…
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